Saudi Aramco IPO is a Go, Expected to Be Largest in History
The much-anticipated initial public offering (IPO) of Saudi Aramco will soon go forward, officials announced 3 November. The introduction to public markets is expected to take place next month in Saudi Arabia’s domestic stock exchange, the Tadawul in Riyadh, where it could become the largest share sell ever. In a prospectus issued on 9 November, [...]
Repsol Becomes First Oil Company To Aim For Net-Zero Emissions By 2050
Spanish oil and gas company Repsol said this week that it is taking the industry’s most aggressive stance on climate change by targeting net-zero carbon emissions over the next 30 years. The decision was made by the company’s board of directors who seek to bring Repsol’s operations in line with the goals of the Paris [...]
Britain Imposes Moratorium on Hydraulic Fracturing
The British government will no longer allow hydraulic fracturing after the UK Oil and Gas Authority (OGA) published a report that concluded that predicting possible tremors resulting from the practice is not possible with current technology. The government said proposals to change the planning process for fracturing work sites will no longer be considered, and [...]
R&D Remains Critical Despite a Down Market
Despite the down market of the past several years, technology research and development (R&D) remains critical to the future of the oil and gas industry, said researcher Erika Biediger of ExxonMobil in a presentation to the SPE Gulf Coast Section R&D study group in Houston. Some important technology advances have emerged in past down markets, [...]
Short-Term Headwinds and Fundamental Long-Term Change Will Challenge Oil and Gas Industry in 2020
Uncertainties in many areas remain a challenge to performance and investment in the oil and gas industry, says Deloitte in its 2020 Oil, Gas, and Chemical Industry Outlook. The firm advises companies that balancing coming disruptive forces associated with energy transition and sustainability with day-to-day positioning will be increasingly crucial next year. The report identified [...]
How Southeast Asian Upstream Operators Are Digitalizing
Three of Asia’s biggest upstream operators are now in the midst of full-scale digital adoption. The companies are beginning to see results, but none is counting on a “big bang” in development of the technology any time soon. Over the past couple of years, Malaysia’s Petronas, Shell Malaysia, and Thailand’s PTT Exploration and Production (PTTEP) [...]