Chevron and Shell’s upstream portfolios are the most resilient at oil price at $30 a barrel and offer the highest cash margins at $70/Bbl, according to analysts at Wood Mackenzie. Tom Ellacott and the Corporate Analysis team at the consulting firm have studied the resilience of the seven oil and gas majors: BP, Shell, Chevron,
Read More...Gazprom and RusGazDobycha have reached a final investment decision (FID) on the development of the giant Semakovskoye gas field in Western Siberia, Kallanish Energy reports. The partially offshore/onshore field in the Yamal-Nenets autonomous region has recoverable gas reserves of over 320 billion cubic meters (Bcm). The project is slated to enter commercial production in 2022
Read More...Mozambique’s national petroleum institute INP said on Thursday the country’s natural gas and liquefaction projects remain in line with the schedule agreed between the government and investing companies. INP’s chairman Carlos Zacarias told a press conference a day earlier that despite the suspension of activities in Afungi due to the Covi-19 pandemic, implementation activities for
Read More...Malaysia’s state oil and gas company, Petronas, said Thursday it has entered Myanmar’s gas market delivering its first two liquefied natural gas (LNG) cargoes to CNTIC VPower, Kallanish Energy reports. The successful exports mark a “new era” in the growth of LNG demand in the South East Asian region, said Petronas LNG CEO Abdul Aziz Othman. “With
Read More...Worldwide liquefied natural gas demand is expected to double by 2040 to 700 million tonnes, according to third party forecasts, Royal Dutch Shell reports in its Fourth Annual LNG Outlook, Kallanish Energy reports. LNG in 2019 rose a robust 12.5%, to 359 million tonnes, Shell stated. “The global LNG market continued to evolve in 2019,
Read More...Four people died in a fire that occurred Tuesday at a facility operated by Indian state-owned Oil and Natural Gas Corp. (ONGC), Kallanish Energy learns. Three individuals were fire personnel of the police arm of the Central Industrial Security Force, while the fourth person was a resident production superintendent at the Uran Plant in Mumbai.
Read More...The state of South Dakota is suing a privately-held Texas-based exploration and production company for $15.5 million for abandoning 40 natural gas wells in Harding County, Kallanish Energy reports. The South Dakota Department of Environment and Natural Resources (Denr) is requesting the court require Spyglass Cedar Creek and its general partners, Kevin Sellers and March Kimmel, to bring the wells
Read More...A natural gas explosion last September in a pipeline not yet in service has led to an independent producer backed by Goldman Sachs’s private equity arm and the Ontario Teachers Pension Fund filing for Chapter 11 bankruptcy, Kallanish Energy reports. EdgeMarc Energy Holdings plans to sell all of its assets, the company said Wednesday, blaming an
Read More...Tom ShepstoneNatural Gas NOW … … The head of the International Energy Agency has just declared 2018 was another “golden year of gas” worldwide with gas representing almost half of demand. Yes, Dr. Fatih Birol, Executive Director of the International Energy Agency, just said this: “Last year can also be considered another golden year for
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