10月11日油氣行業十大新聞

Oil Approaches One Year High. Every expert says the oil price rally cannot, will not, and may not proceed. Yet traders merely laugh in their faces and send futures to 2016 highs.

BP Sees Market in Balance. Bob Dudley told CNBC we are “pretty much in balance”. On the cost of production targets: “We said $60 next year; we are under $55 now. We can see our way to $53 next year.”

China Produces Oil? That’s right. The 5th largest producer and 2nd largest consumer of petroleum is shutting down expensive wells. Analysts don’t believe a resurgence in Chinese production occurs until $60 oil.

Statoil Headed to Johan Sverdrup Field. Drilling shall commence on several survey wells. Was I not just saying that Statoil is quietly increasing production, the old fashioned way?

SDX Reveals Brightspots in Egypt. 3D seismic onshore Egypt has revealed numerous exploration opportunities. Executives cheer but contractors look at each other reluctantly knowing that recent tourist warnings for the country are no joke.

ExxonMobil $2.5BN African Purchase Approved. The courts approve the marriage of the largest oil company in the world and Interoil (mostly PNG). Praise to the judicial system for allowing companies to do business.

Field Development Spending Down 40%. Douglas Westwood digs into the details and finds a minimum of 40% in CAPEX cuts and up to 60% declines in equipment utilizations and dayrates from 2012 to 2016.

Indonesia Fabricator Gets Myanmar Deal. PTG reels in several projects worth over $300 million. Another reminder that state-owned oil companies have no intention of grinding to a stop.

North Sea Production Continues Decline. Aker BP’s production descended in Q3 with Alvheim and Boyla leading the way. For all our data nuts, here is the UK production decline over 40 years.

World Energy Council Forecast Just In. The WEC’s newly released report claims, “Solar and wind energy account for only 4% of power generation in 2014, but by 2060 it will account for 20% to 39% of power generation.”