Oil firms chase efficiency gains
The spectre of ‘peak demand’ puts an onus on producers to tighten up their games
Energy efficiency in the upstream clearly means different things to different people. But what is evident is that virtually every firm is looking at where to make marginal gains, as a subdued price environment and fears over the future of oil demand growth significantly reduce the ability to run flabby operations. The oil majors are taking divergent paths in some aspects, but one trend is easily identifiable, namely portfolio efficiency. The firms are concentrating their financial and technical muscle on fewer, high-potential prospects in key upstream areas and excluding marginal production provinces—in turn, leaving independent producers to bring their own specific focus into areas from whi
Also in this section
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way
14 May 2024
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
14 May 2024
The former CEO of Pioneer, Scott Sheffield, has opened a can of worms through his association with OPEC+ and its market management strategy