Industry remains in survival mode, but regulatory reforms and technical innovations are setting the stage for transition toward a brighter future By Jessica Whiteside, Contributor On paper, things look grim in Brazil’s offshore drilling market. Last year’s low rig activity has drifted into 2019, reflecting the slowdown that’s plagued the sector since oil prices tanked and a corruption crisis humbled national oil giant Petrobras. However, industry observers see modest signs the sector is heading for a comeback in the long term, thanks to the country’s ongoing efforts to expand exploration and production opportunities in the pre-salt and beyond. But, first, there will be continuing pain for drilling contractors before the gap closes between the time operators begin assessing their newly ...

ExxonMobil has announced it has updated its growth plans and expects annual earnings potential to increase by more than 140% by 2025 from 2017 adjusted earnings, assuming an oil price of $60/bbl and based on 2017 margins...

The Caspian region is facing multiple challenges as the industry evolves and as companies like Socar AQS drill deeper wells in heavily depleted reservoirs. In this video with DC, Ramin Isayev, General Director for Socar AQS, talks about key opportunities that his company is pursuing to improve operational efficiency by stimulating innovation and embracing new technical advances. Watch the video for more information.

ExxonMobil has announced it has revised its Permian Basin growth plans to produce more than 1 million BOE/d by as early as 2024 – an increase of nearly 80% and a significant acceleration of value...

Equinor has, together with partners Petoro, ConocoPhillips and Repsol, made an oil discovery from the Visund A platform in the Telesto exploration well in the North Sea. The resources are estimated at 12-28 million bbl of recoverable oil...

Emerson has announced the opening of a new $4 million Permian Basin Service Center to bring enhanced oil and gas technologies and services to the fast-growing region. The technology center is the latest investment in Emerson’s efforts to guide customers on their path to digital transformation and train the workforce of the future. Emerson’s new center expands its Permian Basin presence to meet the growing demand for digital technologies to optimize production efficiencies and support producers facing labor and equipment shortages, and address workforce preparedness issues. The 16,000 sq. ft facility provides local access to Emerson’s portfolio of automation solutions spanning from intelligent field devices and instrumentation to control systems, operations management and enterprise management software. The facility also provides ...

ExxonMobil has announced it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well...

According to Wood Mackenzie, Asia-Pacific's upstream industry has been plagued by declining oil production, exploration and licensing activity. Since 2014, exploration investment in the region has fallen 66% to around $6 billion in 2018, reducing the hopper of new development opportunities...

Chevron has announced a $5 million grant to Catalyst, a global nonprofit advancing workplace gender equality, in support of expanding the organization’s Men Advocating Real Change (MARC) program, which Chevron adopted in 2016...

BP Trinidad and Tobago (BPTT) has announced first gas production from its Angelin development. The project was delivered on time and under budget...