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Oil & Gas

Kuwait to lead the Middle Eastern refinery capacity growth by 2024

Supported by its Al-Zour project, Kuwait is expected to lead the refinery capacity growth in the Middle East by 2024, with the anticipated addition of 615 thousand barrels per day (mbd) contributing to around 31% of the region’s total growth. This is expected to be closely followed by Saudi Arabia, with contributions of 24%, says GlobalData, a leading data and analytics company. GlobalData’s report, ‘Refining Industry Outlook in Middle East to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries’, reveals that refining capacity in the Middle East is expected to increase by around […]
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South America’s offshore production to surpass North America’s by 2024, says GlobalData

Despite the effects of COVID-19 on global demand and supply, the outlook for South America’s offshore production is on track to surpass volumes coming from North America by 2024. While several projects in Brazil and Guyana have taken final investment decision (FID), and are less likely to be postponed or suspended, offshore US and Mexico tell a different story. Key projects in offshore US have already been delayed as a result of COVID-19 […]
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Morgan Stanley and Evercore were top M&A financial advisers by value and volume in oil and gas sector for Q1-Q3 2020

Morgan Stanley and Evercore have emerged as the top mergers and acquisitions (M&A) financial advisers in the oil and gas sector for Q1-Q3 2020 by value and volume, respectively. A total of 1,115 M&A deals were announced in oil and gas sector during the period, according to GlobalData, a leading data and analytics company. According to GlobalData’s M&A report, ‘Global and Oil & Gas M&A Report Financial Adviser League Tables Q1-Q3 2020’, […]
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Major oil and gas EPC players are aligning strategies for energy transition, says GlobalData

Leading oil and gas engineering, procurement, and construction (EPC) companies are increasingly shifting their strategies towards cleaner energy segments, according to GlobalData, a leading data and analytics company. Major oil and gas EPCs have traditionally relied on projects within the oil and gas value chain, building relatively little exposure to renewables. However, with a bleak investment outlook for the sector post-COVID-19 and major oil and gas companies making strategic shifts for the energy transition, these EPCs are looking to renewables and other clean energy sectors for future growth. Will Scargill, Managing Oil & Gas Analyst at GlobalData, comments, “COVID-19 brought a major oil and gas demand shock, delayed projects and raised additional […]
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ExxonMobil is set to strengthen its position to provide for the future of oil and gas demand, says GlobalData

Following ExxonMobil’s Q3 earnings release; Steven Ho, Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view: “ExxonMobil is very confident that it could potentially outperform its peers if the company is able to optimize its assets – preparing to capture a bigger market share once oil demand recovers closer to pre-pandemic levels by year 2022, as forecast by the IEA. The company is focused on the short-to-medium-term outlook with no indication of shifting away from oil. In any case, ExxonMobil could also sustain and profit marginally at lower price environment, given its aggressive measure to reduce operating […]
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Ballot Measure 1 in Alaska will likely send discouraging message to future oil and gas investors

Following the news on Alaska Ballot Measure 1, through which voters in the state will decide on whether taxes on oil should be increased for selected fields; Gregory Bosunga, Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the current events: “If approved, the Alaska Ballot Measure 1 will likely impact the medium-to-long-term investment […]
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ConocoPhillips betting on recovery of crude oil demand with acquisition of Concho Resources

Following ConocoPhillips’ US$9.7bn acquisition of shale rival Concho Resources; Steven Ho, Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the acquisition: “This transaction is beneficial to both parties and in line with what has been expected for the industry in terms of merging opportunities. A company such as ConocoPhillips with […]
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Gas to liquids process can help monetize stranded and flared gases

Gas to liquids (GTL) plants can be installed at oil production facilities to capture the associated gas that is otherwise flared off. This approach provides oil producers with an additional way of generating revenue, says GlobalData, a leading data and analytics company. GlobalData’s latest thematic report, ‘Gas to Liquids (Oil and Gas) – Thematic Research’, highlights the potential opportunities and challenges that can influence […]
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Impact of COVID-19 forces pipeline operators in the US to continue adopting conservative strategies, says GlobalData

The COVID-19 pandemic has significantly impacted the US pipeline sector and operators are left with little choice than to adopt strategies to save cash. As a result, several pipeline companies in the country continue to delay or stall pipeline projects or reduce capital expenditure. In hindsight, pipeline operators are also analyzing the impact of COVID-19 […]
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