Here are some of Rigzone's top upstream stories during the last week, just in case you missed them…
Chevron CEO Reveals Permian Surprise
Bloomberg highlighted that Chevron has revived aspirations to pump one million barrels a day in the Permian Basin. Chevron plans to ramp up investment in North America’s biggest oil field through 2025, Bloomberg noted.
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No Roaring USA Shale Industry to Respond to OPEC+
There is no roaring U.S. shale industry to respond to OPEC+ and balance out global supply, according to Rystad Energy Oil Markets Analyst Louise Dickson. Although the Rystad representative outlined that U.S. shale sprang back almost immediately after the last downturn, Dickson warned that things would be different this time around.
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Shell Strikes $926MM Deal
Cairn Energy, together with Cairo-based Cheiron Petroleum Corp, will buy assets in Egypt’s Western Desert from Shell for $646 million and make additional payments of as much as $280 million by 2024.
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2021 Oil Price Forecasts Ramped Higher
The U.S. Energy Information Administration and Standard Chartered both increased their oil price forecasts for 2021 this week.
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A Better Way to Cut the Orphan Well Backlog?
A new Texas-based organization has proposed shifting responsibility for plugging and abandoning orphan wells from government bureaucracies to the nonprofit sector.
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Global Oil Job Loss Numbers in 2020
New analysis has provided insight into oil and gas job loss figures around the world in 2020. Countries examined in the analysis include Russia, Brazil, Norway, China, the UK, the US, Saudi Arabia, Nigeria, Canada, and Australia.
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