A NEW REPORT from management consulting firm, Arthur D. Little, has called for international oil companies (IOCs) to rethink traditional models of asset management and consider moving towards a more integrated and cross-asset view in order to ensure long-term success in a changing marketplace.
THE GHANAIAN GOVERNMENT has blocked the estimated US$4bn sale of a stake in a huge oil field, foiling months of talks between potential buyer Exxon Mobil Corp and the stake's owner, Kosmos Energy LLC.
SOUTH AFRICAN PRODUCER Sasol expects to raise its output to 42,000 boed this year from last year's 38,000 boed, a senior official said.
OPEC HAS OFFICIALLY agreed in its ministerial meeting to keep its production quotas steady, as expected, and called for members to improve their compliance with production cuts agreed upon last year.
THE CHIEF ECONOMIST of the International Energy Agency (IEA) has said oil producers need to generate an extra crude output capacity of about 45mn bpd in the next 20 years to meet rising demand and offset a decline in major fields.