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Oil & Gas

US shale supply badly hit by price war and forced to become more resilient

Following the WTI price fall to around US$30 per barrel due to an oil price war between Saudi Arabia and Russia, Adrian Lara, Oil and Gas Analyst at GlobalData, a leading data and analytics company, offers his view: “There is no doubt the outlook is now quite difficult for indebted shale operators and although it is too early to say with accuracy which companies will be driven out of the game or into bankruptcy, the count will likely be more than […]
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Denver-Julesburg Basin to grow production by 10% in 2020

The average production for the Denver-Julesburg (DJ) Basin in 2020 is forecasted to hit 1.1 million barrel oil equivalent per day (mmboed) compared to an average of 0.997mmboed in 2019, according to leading data and analytics company GlobalData. Steven Ho, Oil and Gas Analyst at GlobalData, comments: “Occidental Petroleum (Oxy) and PDC Energy will dominate the majority of the production in the DJ Basin with a combined estimate of 535mmboed, which approximates to 49% of the basin’s total production. The majority of this production growth […]
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Saudi Oil price war unlikely to have quick end

Following the news that Saudi Arabia is responding to Russia’s refusal to a new oil production cut agreement by cutting oil prices and boosting supply, Will Scargill, Managing Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view: “The Saudis’ apparent price war is a risky strategy that may take months to play out. In reality, the brunt of the previous OPEC+ production cuts were borne by OPEC members […]
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Nigeria set to drive African new-build refining capacity growth by 2024, says GlobalData

Nigeria is set to lead refining capacity additions from planned and announced (new-build) projects in Africa by 2024, says GlobalData, a leading data, and analytics company. The company’s report, ‘Global Refining Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries ’, reveals that Nigeria would add 1.8 million […]
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China to lead Asian refinery crude distillation unit capacity additions through 2024, says GlobalData

China is expected to lead Asian refinery crude distillation units (CDUs) capacity additions by 2024, accounting for about 46% of the total capacity additions from planned and announced (new-build) projects, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Refinery Crude Distillation Units (CDU) Outlook to 2024 – Capacity and Capital Expenditure […]
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Asia spearheads global refinery crude distillation unit new-build capacity additions through 2024, says GlobalData

Asia leads the global refinery crude distillation unit (CDU) capacity additions by contributing about 42% of the total global CDU capacity from new-build projects (planned and announced projects) during the period 2020–2024, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Refinery Crude Distillation Units (CDU) Outlook to 2024 – Capacity and […]
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Asia to dominate global refining industry by contributing 40% of new-build capacity growth by 2024, says GlobalData

Asia is expected to lead the global refining industry by contributing about 40% of refining capacity additions from planned and announced (new-build) projects between 2020 and 2024, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Refining Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating […]
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China set to dominate Asian refining industry by contributing 44% of new-build capacity growth by 2024, says GlobalData

China is expected to lead the Asian refining industry by contributing about 44% of refining capacity additions from planned and announced (new-build) projects by 2024, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Refining Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned […]
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Guyana, Mauritania and Russia led global resource discoveries in 2019

In 2019, offshore discoveries accounted for more than 60% of global discoveries, up significantly on previous years, says GlobalData, a leading data, and analytics company. The company’s report, ‘Q4 2019 Global Oil and Gas Discoveries Review – Russia and Mauritania Lead Resource Discovery in the Quarter’, reveals that while Colombia and Norway saw the highest number […]
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Upstream sector led global oil and gas M&A deals in 2019

The upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process. The acquisition of Anadarko Petroleum by Occidental Petroleum in April 2019 for a purchase consideration of US$57bn was the highlight of oil and gas M&A activity last […]
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China National Chemical Engineering records major petrochemical facilities contract in Russia during Q4 2019

The global oil & gas industry has witnessed a substantial contract in the downstream/petrochemical sector, with China National Chemical Engineering No 7 Construction securing a US$13.25bn contract from Baltic Chemical Complex for the FEED and EPC services for two Ethylene cracking, six Polyethylene, two Linear Alpha Olefins cracking units and offsite facilities at Ust-Luga in […]
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Emphasis on maintaining capital discipline driving M&A activity in the oil and gas industry

Deal activity in 2019 has largely revolved around the need to improve company finances and reduce debt. It drove multinational oil and gas companies, such as ExxonMobil, ConocoPhillips, and Chevron, to review their global operations and begin divesting non-profitable ventures, according to GlobalData, a leading data and analytics company. The company’s latest report, ‘M&A in Oil […]
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