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  • Infographic: The Largest Oil and Gas Companies in the World

    Saudi Aramco is one of the five companies in the trillion-dollar club as the world’s third-largest company by market cap. Its market cap is nearly equivalent to the combined valuation of the other 19 companies on the list. But what makes this figure even more astounding is the fact that the company went public less than two years ago in December 2019.

  • Exxon Debates Abandoning Some of Its Biggest Oil and Gas Projects

    Members of the board—which includes three directors successfully nominated by an activist investor in May and two other new members—have expressed concerns about certain projects, including a $30 billion liquefied natural gas development in Mozambique and another multibillion-dollar gas project in Vietnam, the people said.

  • Saudi energy minister sees demand from gas-to-oil switch at up to 600,000 bpd

    Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman said users switching from gas to oil could account for demand of 500,000-600,000 barrels per day (bpd), adding that the world was now waking up to shortages in the energy sector. Prince Abdulaziz said the potential switch depended on how severe winter weather would be and how expensive alternative energy prices would be.

  • Aramco Says Global Natural-Gas Crisis Is Boosting Oil Demand

    A shortage of gas has sent prices soaring in Europe and Asia to the equivalent of around $180 per barrel of oil, forcing some businesses to switch to crude products for their power. “There is higher demand,” Nasser said during an Energy Intelligence forum. “There is some shift we have seen from gas to liquids, especially in certain markets in Asia.”

  • Yemen’s Houthis near Marib city, eyeing Yemen gas and oil fields

    Houthi military forces are intensifying their push towards the central Yemeni city of Marib, which is held by the Saudi-backed government, and are stepping up fighting in the south, Houthi group and Yemeni military sources said on Thursday. After recent advances and fierce fighting, Houthi military spokesman Yahya Sarea said the group's fighters were on the western outskirts of Marib city and pushing up on other fronts having inflicted many casualties in recent months.

  • How the oil and gas industry is utilising digital twins

    With issues of supply scarcity and dwindling demand from the pandemic, oil companies need innovative ways to reduce operational expenses and capital expenditure to maintain cash flows.

  • Oil & gas M&A rebounds after pandemic lows

    Year-on-year, oil & gas M&A value increased more than eightfold to US$45 billion in H1 2021. Volume over this period rose by 73 percent to 71 deals. The positive year-on-year comparisons consolidated the gains made in the second half of 2020, when 86 oil & gas deals worth US$77 billion were agreed. A recovering oil price, which has almost doubled over the last 12 months, from US$37 per barrel in June last year to around US$70, has supported the M&A rebound and given investors the confidence to pursue deal opportunities.

  • Climate: Russia, Saudi Arabia reject calls to end oil and gas spending

    Speaking at the St. Petersburg International Economic Forum on Thursday, Russian Deputy Prime Minister Alexander Novak said the IEA had ostensibly arrived at its findings “by using reverse calculations” on how to achieve net-zero emissions by 2050.

  • Global spending on renewables is quickly catching up to oil and gas

    Globally, fossil fuel companies’ spending on “upstream” activities (finding and producing oil and gas) fell by nearly one-third in 2020, according to a new analysis from Rystad Energy, a research firm. Meanwhile, spending on solar and wind farms is setting new records and catching up fast. In 2019, global renewables spending was nearly 60% below upstream oil and gas; in 2021, the gap is projected to be just 22%, Rystad reported.

  • Africa and Middle East’s oil and gas sector saw a rise of 6.45% in cross border deals

    Led by Energean’s US$405mn acquisition of Energean Israel, Middle East and Africa’s oil and gas industry saw a rise of 6.45% in cross border deal activity during the Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database