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Qatar Petroleum announces plans for a fourth LNG megatrain
The impact of the 2014 oil price collapse is still being felt across the upstream sector. Operators have cut investment, deferred projects and implemented tough cost discipline, slashing US$910 billion from global capital expenditure estimates for 2015-2020. While many operators believe the cuts will stick, a new survey released today by natural resources consultancy Wood Mackenzie indicates the pictured is more nuanced.
Qatar Petroleum announced that it has taken final investment decision (FID) on the North Field East project.
OPEC+ is, as expected, holding firm to its decision to increase supply, gradually and carefully, over the coming months.
OPEC+ today (6 June 2020) agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl.
As global markets reel in the wake of the oil price crash, Wood Mackenzie’ corporate analysis team believes the price collapse could be the trigger for a new phase of deep industry restructuring - one that rivals the changes seen in the late-1990s.
The OPEC+ meeting broke up without a deal, what does it mean for the markets?
Wood Mackenzie believes that discovering new value requires going beyond isolated datasets. The solution lies in data consortiums – cooperative platforms where companies can safely share quality data.
Malaysian NOC Petronas buys a 10% interest in Oman's Khazzan development
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