After the biggest first quarter for global upstream dealmaking in five years, the industry could see another $150 billion of merger and acquisition (M&A) deals in the remainder of 2024. With global M&A deal value crossing the $64 billion mark already this year, it represents the strongest first-quarter performance since 2019 and a 145% increase on the first quarter of 2023, fueled primarily by consolidation in the US shale patch.
Although oil price is favorable, it is still lower than what it was in the prior year. This is likely to lower the demand for drilling & production equipment, thereby making the outlook for the Zacks Oil and Gas- Mechanical and Equipment industry gloomy.
Rigorous engineering remains the key platform to accomplish the dizzying array of complex work on a daily basis and the linchpin in elevating the performance of deepwater projects from acquisition to abandonment.
Conrad Asia Energy Ltd. said it has made significant progress in maturing the Mako project in the Duyung production sharing contract (PCS) with major contracts and services expected to conclude in the second quarter of the year.
Kazakhstan maintained its robust global market position in 2023, producing nearly 90 million tons of oil and nearly 60 billion cubic meters of gas. This year, gas production is expected to increase to just a little over 60 billion cubic meters, reported the Kazakh Ministry of Energy on April 26.
The heads of the energy ministries of Kazakhstan, Azerbaijan, and Uzbekistan signed a memorandum of cooperation at the Tashkent International Investment Forum. The memorandum aims to pave the way for the interconnection of the energy systems of these nations.
While Rwanda is commemorating 30 years of genocide, many Africans know all too well what can happen when media outlets single out certain groups of people and Individuals for constant attacks. Radio Télévision Libre des Mille Collines instigated the hate. “The Namibian” newspaper has become the Radio Télévision Libre des Mille Collines of Namibia with their hate fill rhetoric and xenophobia. Africans understand how demonisation cultivates hatred that leads to death on a horrifying scale.
The unprecedented COVID-19 pandemic has undoubtedly disrupted numerous industries, and the Oil Gas Risk Management market is no exception. This report acknowledges the impact of the pandemic on the Oil Gas Risk Management market and provides organizations with strategic recommendations to navigate these turbulent times. By outlining strategies to mitigate the pandemics effects on operations, such as shifting to remote work models or implementing new safety protocols, the report empowers businesses to emerge stronger on the other side.
Doha, Qatar: Minister of State for Energy Affairs, the President and CEO of QatarEnergy, H E Saad Sherida Al Kaabi, took part in the World Economic Forum’s special meeting on global collaboration, growth, and energy for development, which was held in Riyadh, the Kingdom of Saudi Arabia, under the patronage of His Royal Highness Muhammed bin Salman Al Saud.
Esgian reports that new drilling contracts have been announced in the North Sea and West Africa in its Week 17 Rig Analytics Market Roundup.