Report cover image

Worldwide O&G Industry Quarterly Update: January-March 2024

Publisher IDC
Published May 06, 2024
Length 23 Pages
SKU # IDC18780640

Description

Worldwide O&G Industry Quarterly Update: January-March 2024


This IDC Market Perspective provides an overview of the O&G industry in 1Q24. It covers M&As, agreements, reorganizations, and major business developments; upstream, midstream, and downstream deals; global LNG contracts; EPC deals; major ICT ecosystem acquisitions and agreements; and ICT contract wins."The surge in AI/GenAI investments in the O&G industry signifies a pivotal shift toward an ever-growing need for process efficiency, and workers' productivity, marking a transformative journey toward a sustainable business," said Gaurav Verma, research manager, IDC Energy Insights.

Please Note: Extended description available upon request.

Table of Contents

23 Pages
Executive Snapshot
New Market Developments and Dynamics
Industry Overview
Oil Geopolitics
GDP Trends, 1Q24
Exploration and Production Activity
Rig Count
Liquid Fuel Production and Consumption
Oil Prices
Natural Gas Prices
Listed O&G Companies' Performance
S&P Global Oil Index
S&P GSCI Natural Gas Index
Downstream, 1Q24
Upstream Licenses Round Agreements, 1Q24
India OALP IX Bid Round
Norway Awards 62 Offshore Exploration Licenses
NSTA Awards 24 Licenses in Second Tranche of the U.K.'s 33rd O&G Licensing Round
Zanzibar Launches Inaugural O&G Licensing Round
M&As, Agreements, Reorganizations, and Major Business Developments, 1Q24
bp to Acquire GETEC ENERGIE Gmbh, Expanding bp's Integrated Energy Offering to Commercial and Industrial Customers in Europe
Diamondback Energy, Endeavor Energy Resources to Merge
Chevron, JX Sign MOU For Collaboration on Development of CCS Value Chain
EQT to Acquire Mountain Valley Pipeline Owner for $5.5B
SLB Announces Agreement to Acquire ChampionX in All-Stock Transaction
Southwestern, Chesapeake Energy Merger to Create $17B U.S. Natural Gas Company
Shell Sells Nigerian Onshore Oil Business For $2.4B
Upstream, 1Q24
Aquaterra Energy Secures Offshore Contract with U.K. Oil and Gas Operator
bp to Develop Egyptian Natural Gas, Drilling Projects with $1.5B Investment
CNOOC Makes Deepwater Oil and Gas Discovery in South China Sea
EOG Resources to Invest $4.2B In Drilling, Exploration Operations
Eni Makes Oil and Gas Discovery Offshore West Africa
Iran Grants $13B in Contracts to Boost Domestic Oil Production
Petrobras to Invest $7.5B for Oil and Gas Exploration Offshore Brazil
PETRONAS Secures 20-Year Extension for Oil Production Asset Offshore Indonesia
Prairie Operating Acquires DJ Basin Exploration, Production Assets for $94.5M
Shell to Develop Victory Natural Gas Field Offshore U.K.
Trio Petroleum Restarts Production from California's Ranch Oil Field
Valaris Wins $519M Drillship Contract Offshore Brazil From Petrobras
Midstream, 1Q24
ADNOC Signs Second 15-Year Agreement for Ruwais LNG Project
DeepOcean Secures Subsea Pipeline Contract from Equinor
EQT Enters Into 15-Year Tolling Agreement with Texas LNG
Technip Energies Hands Over Coral Sul FLNG Unit to Eni
QatarEnergy Signs 15-year LNG Supply Deal with Excelerate Energy
Vitol, GAIL Sign Long-Term LNG Supply Deal into India
Woodside Energy to Sell $1.4B Stake in LNG Project to Japan's JERA
Downstream, 1Q24
Eni Plans Bio-Refinery Construction at Former Oil Plant Site in Italy
Equinor Awards Refinery Carbon Capture Feasibility Contract to Aker Solutions
MAIRE's Tecnimont Wins $1.1B Contract in Algeria
Neste Launches its Neste Impact Solution for Businesses to Reduce Their Aviation Emissions with SAF
Saudi's SABIC Gives Go-Ahead For $6.4 B China Petrochemical Plant
Shell to Grow Company-Owned U.S. Retail Sites with Acquisition of Brewer Oil Company
Spain's Cepsa, Apical Begin Work on Southern Europe's Biggest Biofuels Plant
Uganda in Talks with UAE Investment Firm over Planned Oil Refinery
Engineering, Procurement, and Construction/Installation/Commissioning Contracts (EPC/EPCI/EPCC), 1Q24
Baker Hughes Signs Well Construction Contract with Petrobras for Work Offshore Brazil
Saipem Signs U.K. Deal for CO2 Transport, Storage
Subsea7 Wins Large Contract for Woodside's Deepwater Oil Field
QatarEnergy Awards $6B EPC Contracts
TechnipFMC Secures Subsea Contract from Petrobras for Brazilian Mero 3 Project Worth Over $1B
TechnipFMC Wins Subsea Contract in Gulf of Mexico from bp
New Energy Business Investments, Contracts, and Major Business Developments, 1Q24
Baker Hughes to Advance Energy Transition with New Hydrogen Milestones
Bp Pulse Acquires One of Europe's Largest Truck Stops, Unveiling Ambitious Plans to Help Electrify HGVs
Chevron Announces its First Solar-to-Hydrogen Production Project in California's Central Valley
Eni Signs Strategic Agreements with Kazakh Companies
Eni's Plenitude to Develop Offshore Wind Projects in Spain
Repsol to Exceed 600 Service Stations with Renewable Fuel in 2024
TotalEnergies Acquires Leading German Battery Storage Developer Kyon Energy
ICT Ecosystem Major Acquisitions, Agreements, and ICT Contract Wins, 1Q24
AIQ Brings Energy Industry Automation Solutions to AWS Marketplace
Aize Signs Agreement with ExxonMobil Guyana, SBM Offshore to Deploy Digital Twin Software Offshore Guyana
Baker Hughes Unveils New Digital Solutions for Cleaner Energy
Chevron, Eliis to Collaborate on AI Algorithms for Seismic Interpretation
ChampionX Acquires ALP to Expand Digital Solutions
FutureOn, Rystad Energy Launch Cost Estimation Tool for Energy
Hexagon Acquires Itus Digital to Expand APM Capabilities
S&P Global Commodity Insights, AWS Empower Digital Transformation in Upstream O&G Industry
Shell Partners with Optime Subsea to Conduct First Remotely Controlled Well Completion Offshore Nigeria
Advice for Technology SupplierS
Learn More
Related Research
Synopsis

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us