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Upstream Capex Edges Up But Recovery Remains US-Focused
...be seen. Global upstream spending is slated by the IEA to rise by 5% to $472bn this year on the back of 2017’s modest 4% increase – though this followed a cumulative fall of near 50% for 2015 and 2016. The projected 2018 upstream spend of $472bn in the IEA’s freshly-released World Energy In...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Shell Enters Mauritania
...e maritime border with Senegal as well as four Mauritanian deepwater exploration blocks. Total took two deepwater blocks last year, whilst Exxon in December signed PSCs for three deepwater blocks (MEES, 8 December 2017). Chevron (with QP) and Eni have deepwater blocks off Morocco to the north. Bl...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Services Firms: Back To Black
...The world’s largest oilfield services firms are finally seeing a return to profit. 1H 2017 is the first time Schlumberger, Halliburton and Baker Hughes have made a combined half-yearly profit since the first half of 2015. Following the aftermath of the oil price collapse the big three oi...
Volume: 60Issue: 30Published at Fri, 28 Jul 2017 -
Oilfield Services Firms Forecast Upturn As Industry Looks To Overcome Crisis
...day. The prices will have to get there soon or the supply challenges will be even greater.” Halliburton forecasts its US and Canada markets picking up the quickest, with a “continued modest uptick in the US rig count during the second half of the year and becoming more meaningful as we go into 2017...
Volume: 59Issue: 30Published at Fri, 29 Jul 2016