Despite concerns on oversupply for Q1 2021, the group agreed to increase output by 500,000 b/d in January. Production restraint is set at minus 7.2 mmbbl per day instead of the Q4 2020 level of minus 7.7 mmbbl per day
Exploration
West Africa oil and gas midstream market to register 1.54% growth
The West Africa oil and gas midstream market is expected to register a CAGR of more than 1.54% during the forecast period of 2020-2025, according to ResearchAndMarkets
Oilfield service purchases to lose US$340bn until 2028
The projection of a cumulative loss of US$340bn over the next eight years comes as peak oil demand will arrive earlier and at a lower level than expected, meaning E&P investments will be reduced.
Amarinth secures API 610 VS4 pump order for El Merk processing facility in Algeria
Amarinth, global company specialising in the design, application and manufacture of centrifugal pumps and associated equipment to the oil and gas, petrochemical, LNG, chemical, industrial, power and desalination markets, has secured an order from Groupement Berkine Sonatrach Anaderko for the El Merk processing facility in Algeria
Shell entrusts SPIE with lube oil facility contract in Bangkok
The Shell Company of Thailand has awarded a new and enlarged contract to SPIE Oil & Gas Services, a subsidiary of SPIE, the independent European leader in multi-technical services in the areas of energy and communications, to provide corrective maintenance services at its lube oil facility in Bangkok
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