Majors

Oil and natural gas exploration will play an essential role in meeting global energy demand through at least 2040, even if human-induced global warming is kept under 2 C, according to a recent analysis by Wood Mackenzie. “Only about half the supply needed to 2040 is guaranteed from fields already onstream,” said Wood Mackenzie’s Andrew…

The oil and natural gas sector continues to grapple with the commodity price rout, but the industry, and in particular Big Oil, is headed into a recovery leaner, more efficient and profitable as conventional exploration is increasingly eschewed, according to Wood Mackenzie Ltd.

Big Oil has been a big bust for the past several years, and without a major overhaul, sustaining efforts in stagnant natural gas and oil environment…

Big Oil has been a big bust for the past several years, and without a major overhaul, sustaining efforts in stagnant natural gas and oil environment are going to be a challenge, according to Morgan Stanley Research and the Boston Consulting Group (BCG).

A trio of world-class oil majors — Chevron Corp., Statoil ASA and Repsol YPF — on Thursday launched an ambitious endeavor to jointly explore Atlantic Canada’s deepwater. Separately Chevron and Statoil, a newcomer to Canada’s offshore, also agreed to partner in a deepwater region of Canada’s Beaufort Sea.

A trio of world-class oil majors — Chevron Corp., Statoil SA and Repsol YPF — on Thursday launched an ambitious endeavor to jointly explore Atlantic Canada’s deepwater. Separately Chevron and Statoil, a newcomer to Canada’s offshore, also agreed to explore a deepwater region of Canada’s Beaufort Sea.

The technical portion of a feasibility study of a gas-to-liquids (GTL) project in Western Canada, which is under consideration by Talisman Energy Inc. and Sasol Ltd., is expected to be completed during the fourth quarter of this year, according to the Foster Wheeler AG subsidiary that will perform the study.

Majors and European-based international oil companies (IOC) invested heavily in U.S. onshore shale natural gas through both asset and corporate mergers and acquisitions (M&A) in 2009, lifting the percentage of global spending for the United States to more than 40% of worldwide transaction value, according to energy research firm IHS Herold.

Majors and European-based international oil companies (IOC) invested heavily in U.S. onshore shale natural gas through both asset and corporate mergers and acquisitions (M&A) in 2009, lifting the percentage of global spending for the United States to more than 40% of worldwide transaction value, according to energy research firm IHS Herold.