OleumTech, a provider of wireless industrial automation and IoT solutions, announced in July the opening of a new office in Midland with a training facility that the company describes as state-of-the-art. The office will primarily accommodate and support customers in the region. The new location will house a full display of OleumTech products for demonstrations […]
Global O&G Deals Reach $28B in Q2
Total oil and gas industry deals for the second quarter of 2020 were worth $28 billion, according to a July 29 report from GlobalData. The value marked an increase of 106 percent over the previous quarter and a drop of 68 percent when compared with the last four-quarter average of $88 billion. In terms of […]
Economic Outlook for the United States
by The Perryman Group The U.S. job market has recently shown signs of recovery, though total employment remains well below pre-Covid-19 levels. The most recent U.S. jobs reports indicate gains of 2.7 million jobs in May and 4.8 million in June, with a decrease in the unemployment rate from 14.7 percent in April to […]
Chevron’s Noble Acquisition Bets on Future Gas Demand
Following the news that Chevron is to acquire Noble Energy for $13bn, Adrian Lara, senior oil and gas analyst at GlobalData, a leading data and analytics company, offered this view: “Since the crash of oil price and demand in March 2020, there has been an increasing expectation for mergers and acquisition (M&A) activity to show […]
Restructurings Signal Paradigm Shift
Q&A With Opportune Managing Partner David Baggett: Oil & Gas Restructurings Signal Paradigm Shift The upstream oil and gas industry is currently undergoing a paradigm shift as companies scramble for cash and face bankruptcies and restructurings under the weight of heavy debt loads while operating in one of the worst downcycles in history, according to […]
A Case for Optimism
In the wake of the Saudi-Russian Price War, it’s understandable if some care not what the Saudis think about the fortunes of oil and gas in what remains of 2020. That said, there is, for those who care to hear it, a profession of optimism from the Saudi’s top oilman. IHS Markit reported that Saudi […]
Refiners Reconsider Strategies
Demand for transportation fuel has taken a huge hit on oil refineries since late March 2020 amid COVID-19 lockdowns, according to researchers at GlobalData. Being ill prepared to tackle such sudden demand erosion at such a short notice, these refiners had no choice but to limit production, revisit business portfolios, slash capital expenditure, and stall […]
LNG Exports Decline, But…
Following the continued cancellation of U.S. LNG cargos, Adrian Lara, senior oil and gas analyst at GlobalData, suggested that a longer-term positive may reside among the negatives of the situation. Said Lara: “One of the reasons why the United States is experiencing a high number of cargo cancellations has to do with the flexibility embedded […]
GlobalData: Refiners to be Hit Hard
Refiners worldwide hit hard by fuel demand destruction caused by lockdowns and stringent travel restrictions, according to analyst firm GlobalData. Stringent travel restrictions worldwide have wiped out the market for fuel transportation and long storage durations have led to the deterioration of products such as gasoline and jet fuel, as well as increased inventory costs […]
GPA, GPSA Laud Safety Winners
The GPA Midstream Association and affiliated midstream suppliers association GPSA announced in May their midstream industry safety award recipients, honored for their outstanding 2019 safety performances. “The midstream industry is not alone in experiencing unprecedented challenges and tough times right now, so it’s nice to be able to share some good news,” said GPA Midstream […]
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