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Petroleum Review May 2015

01/05/2015

This month’s news pages highlight speculation is rife that Shell’s recent $47bn takeover of BG Group will mark the start of a wave of M&A deals in the oil and gas sector. The low oil price environment has also hit Caspian oil and gas projects, with senior management re-calculating the level of risk to these expensive, long-term projects in the light of current prices and Russia’s new assertiveness; as revealed in our first feature article.

We also report that the eagerly awaited ‘Energy Union’ strategy unveiled by the European Commission earlier this year has been met with conditional approval from much of the market.

Meanwhile, although it appears that falling energy prices have not affected some of the largest and most technically sophisticated offshore developments, clouds are on the horizon. In response, many subsea explorers are looking to technological innovations in the drive to cut costs.

This issue also includes our annual analysis of global oil and gas production figures, with data for 2014 showing that most companies are battling falling oil output and, for the first time, gas production is declining too.

Energy management is in the hot seat this month, with the sector having to look seriously at improving efficiencies across the board. A series of articles assess some strategic areas for action.

Issue details

PR May 15.pdf

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Journal title: Petroleum Review

Publisher: Energy Institute

Content in this issue:

Pertamina expected to sign a transition agreement with joint partners of the Mahakam block offshore East Kalimantan

Technip secures Chinese TLP contracts

Trial of former CNPC head begins

Naftogaz and Gazprom extend elements of gas supply contract

Hadrian South field comes onstream

Petrobras announces new oil and gas discoveries

Millbrook invests further in PEMS

Wintershall and Gazprom commission new processing train at Achimgaz

US proposes tighter rules for offshore oil well equipment