Deepwater struggles to make its case
The oil price recovery has not yet translated into a rush of cash into challenging offshore environments
The world's largest listed oil and gas firms are continuing to stress their financial discipline, continuing to shower their more buoyant cashflows onto shareholders through dividends and buy-backs, continuing to boost acreage in the US shale basins and continuing to invest in renewable technologies. What they are not rushing to do, though, is to make a splurge of investments in offshore deepwater projects, despite a consensus view that the global oil market needs investment in new barrels to avoid a supply shock sometime before the middle of the next decade. At Gulfquest's MCE deepwater development (MCEDD) conference in London in April, a panel of respected industry watchers tried to make s
Also in this section
28 January 2025
African nation eyes roadmap for associated gas, complicating IOCs’ oil exploration activities
27 January 2025
Regional state-owned firms are transforming their strategies and leveraging their resources to position themselves as clean energy powerhouses, and to ensure they maintain influence in a low-carbon world
27 January 2025
Asian neighbours seek resolution on territorial dispute for hydrocarbons development that has spanned decades
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
