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Oil & Gas DECODED

Latest edition: 08 May 2024
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Spotlight

Aramco Q1 net income slumps more than 14% to $27.27bn

Revenue fell to $107.21bn (SR402.1bn) from $111.32bn in the first quarter (Q1) of 2023.

Latest news

BP reports 45% earnings drop in Q1 2024, cites lower energy prices

BP’s first quarter (Q1) results show an underlying replacement cost profit of £2.7bn ($3.39bn), down 45% from $4.9bn during the same period last year.

Oil and gas firms turning to digital twins for generating actionable insights

Digital twins can effectively simulate the management of oil and gas assets and forecast potential scenarios.

Sapura Energy secures $1.8bn contracts from Petrobras

The scope of work encompasses operations for the installation of flexible pipes, and electric-hydraulic umbilical and power cables.

US natural gas prices up 3% to 14-week high

Reduced output and increasing demand for liquefied natural gas (LNG) are the drivers of a recent increase in US natural gas prices.

EIA estimates slower world oil demand growth in 2024

The latest report by the US Energy Information Administration (EIA) predicts slower global oil demand growth for 2024 and a 2% decline in US natural gas production from the first quarter (Q1) of 2024 to Q2 2024.

BW Group to separate oil and gas exploration business

BW Group holds 191.9 million shares in BW Energy, equating to 74.38% of the total issued and outstanding shares and voting rights.

OKEA awards EPCI contract to SLB OneSubsea and Subsea7 for Bestla project

The integrated engineering, procurement, construction and installation (EPCI) contract is aimed at expediting the subsea tieback process to extend the life of ageing platforms.