Oil and Gas Finding Costs Still Soaring
Oil and gas finding costs are on the rise again as inflationary pressures return to the industry and as Major companies struggle to improve their exploration performance in terms of reserves found per well drilled. That’s the picture that emerges from the latest company data from Evaluate Energy. In this report we focus just on .. read more
IOCs Adapt Capital Spending Patterns as Competition Hots Up
This Article was originally written as a piece for the April Edition of the Oil Council‘s Drillers & Dealers Magazine. Major changes in the pattern of capital spending by Independent Oil Companies (IOCs) are emerging as these companies adapt to a fast-changing geo-political and economic environment. [1] Some of the key trends include Rapidly rising .. read more
China Looks to Downstream Deals as Upstream Acquisition Strategy Fails to Deliver
The steady rate at which China’s oil self sufficiency is declining and the unprecedented levels to which it is falling may accelerate the pace of Chinese oil acquisitions in coming years, but it is also leading to new and innovative ways of securing oil supply, according to a new analysis by Evaluate Energy. Despite a .. read more
View from the Summit – A More Cooperative World?
Just back from the Oil Summit in Paris, an annual event organised by the Institut Francais de Petrole (IFP). Conference speakers comprised a refreshing mix of of leading professionals from IOCs (Shell and Total), governments (with ministers from Iraq, UAE, Nigeria among others) and International organisations like the IEA and IEF, along with some leading .. read more
Oil and Gas Finding Costs on the Rise Again
Oil and gas finding costs are on the rise once more, according to the latest company data compiled by Evaluate Energy for the Major oil companies. Following a temporary lull in 2009 when spare capacity in the service industry and recession-induced falls in operating costs, the Majors are facing sharply higher operating costs once more. .. read more
Oil & Gas Companies in Libya – a Who’s Who
By Richard Krijgsman The current maelstrom of production cutbacks and staff repatriation by foreign oil producers in Libya makes it a little harder to be optimistic on the outlook for the oil business in the country right now. However there is one factor that may play a positive role in ensuring a positive outcome for .. read more
Too Much Gas?
Having already grown by 2/3rds since 2005, global LNG production capacity is set to leap a further 50% over the next 5 years if all known projects are completed, according to a new analysis by Evaluate Energy. LNG demand in the Asia-Pacific is strong, but growing shale gas volumes in the United States – a .. read more
LNG Assets Database and Enhanced Demand & Supply Data Now Available
Too Much Gas? We have recently completed some analysis of the future LNG market using our recently launched LNG Database (see below). Having already grown by 2/3rds since 2005, global LNG production capacity is set to leap a further 50% over the next 5 years if all known projects are completed, according to the database. .. read more
Weak Financials Accelerate Structural Shifts in Global Refining
Chronically weak financial performance in the refining sector is accelerating the shift in ownership away from Independent Oil Companies towards National Oil Companies as never before. For years, IOCs have been under pressure from their shareholders to improve returns in the downstream and the weak economic environment has exacerbated the pressures in recent years. Many .. read more
Refinery Additions Lagging Oil Demand Growth – New Analysis
A total of 1.41 million b/d of crude distillation capacity will come onstream during 2010, falling well short of the IEA’s expected increase in total world demand of 1.9 million b/d this year, according to a new analysis by Evaluate Energy. What’s more, the new capacity is not always coming onstream where it is most .. read more