Search results for: capex

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  • 18 March 2016

    Eni of Italy plans to additionally cut its capital expenditure by 21 percent to €37 bln (approx. $41 bln) according to its strategic plan covering the period from 2016 to 2019.

  • 19 February 2015

    Noble Energy has today said it will reduce its capital expenditure for 2015 by around 40%. The company’s total capital expenditure for 2014 year was $4.88 billion. The U.S.-based oil firm has earmarked $2.9 billion for expenditure this year, 35% of which will be spent on global offshore development activities, and 5 percent on offshore exploration. The […]

  • 4 May 2020
    Business & Finance, Business developments & projects, Exploration & Production, Market outlooks, Outlook & strategy

    ExxonMobil booked a quarterly loss due to asset impairments amid lower oil prices while its production was up by 2 per cent.

  • 23 September 2015
    Business & Finance

    French oil major Total is planning to reduce its capital expenditure on a long-term basis.  According to its Strategy & Outlook presentation, Total is executing its plan to reduce capital expenditures to 23-24 billion dollars in 2015, from the peak of $28 billion in 2013. The Group will further reduce investment down to 20-21 B$ […]

  • 14 April 2020
    Business & Finance

    Oslo-listed seismic player SeaBird has decided to reduce costs further and postpone capex until the market situation normalizes. The company said that immediate effects of the COVID-19 situation are operational. In particular, SeaBird said it is experiencing difficulties with crew changes for existing projects and mobilization of crew for new projects due to travel and […]

  • 2 November 2017
    Business & Finance

    Murphy Oil is boosting its capex guidance for the year by $50 million. 

  • 7 February 2014

    Statoil’s fourth quarter and preliminary 2013 results and capital markets update Statoil’s  fourth quarter 2013 net operating income was NOK 43.9 billion. In 2013, net operating income was NOK 155.5 billion. At today’s Capital Markets Update, Statoil presents its plan for reduced capital expenditure by more than USD 5 billion from 2014-16 compared to previous plans. […]

  • 4 March 2014

    Anadarko Petroleum Corporation today announced its 2014 capital expectations and guidance, concurrent with the company’s Investor Conference in Boston, Mass. “Anadarko is uniquely positioned to build upon our multi-year track record of success and to deliver sustained growth and unmatched optionality in 2014 and beyond,” said Anadarko Chairman, President and CEO Al Walker. “Our 2014 […]

  • 22 December 2015

    Energy industry consultancy, Douglas-Westwood (DW), predicts that the trend of growing capital expenditure (Capex) on LNG facilities will continue, reaching US$241 billion between 2016 and 2020.

  • 1 March 2016

    Anadarko, a U.S.-based independent oil and gas exploration and production company has cut its capital expenditures plan for 2016. More precisely, the company plans to reduce year-over-year capital investments by almost 50 percent. The most cuts will come at the company’s onshore activities in the U.S., where Anadarko expects to slash capital investments by $2.5 billion year […]

  • 8 December 2014
    Business & Finance

    ConocoPhillips has announced a 2015 capital budget of $13.5 billion, a decrease of approximately 20 percent compared to 2014. The reduction in capital relative to 2014 primarily reflects lower spending on major projects, several of which are nearing completion, as well as the deferral of spending on North American unconventional plays, the company stated in […]

  • 22 October 2015

    Douglas-Westwood forecasts capital expenditure on global LNG facilities will total $241 billion between 2016 and 2020, rising 34 percent compared to the preceding five-year period.

  • 25 September 2015
    Business & Finance, Operations & Maintenance, Project & Tenders

    Statoil, the operator for the Johan Sverdrup development, has presented an updated capex estimate, for the first phase of the development, showing reduced capital expenditures as a result of positive market response in contracts and purchase orders. In the Plan for Development and Operations (PDO), which was submitted to the Ministry of Petroleum and Energy (MPE) on […]

  • 2 March 2016
    Exploration & Production

    ExxonMobil, one of the world’s largest oil companies will reduce its capital investments in 2016 by 25 percent, compared to 2015. In U.S. dollars, this means that ExxonMobil expects to spend around $23 billion. The company’s CEO Rex W. Tillerson said that in the time of the low oil prices ExxonMobil would focus on the fundamentals, […]

  • 7 April 2015

    Deepwater expenditure is expected to increase by 69%, compared to the preceding five-year period, totalling $210 billion (bn) from 2015 to 2019, Douglas Westwood, an energy intelligence group has said. As production from mature basins onshore and in shallow water declines, development of deepwater reserves has become increasingly vital, particularly to the world’s oil majors. […]

  • 23 January 2015
    Business & Finance, Project & Tenders

    EnQuest, an independent oil and gas exploration and production company has said it will slash its 2015 capital investments. Back in November 2014, EnQuest said the indicative level for capital investment for the North Sea in 2015 was expected to be in the range of $700 million to $800 million, with an additional amount for international […]

  • 28 August 2017
    Business & Finance, Research & Development

    The 450MW Neart Na Gaoithe offshore wind project is estimated to add GBP 827.4 million to Scotland’s GDP during its lifetime, according to an analysis carried out by the Fraser of Allander Institute (FAI) at the University of Strathclyde.

  • 24 February 2015
    Authorities & Government, Business & Finance, Research & Development

    The Joint Research Centre (JRC), a European Commission’s science service, has published ETRI 2014 – Energy Technology Reference Indicator projections report for 2010-2050, including estimates for wave and tidal electricity generation. The ETRI 2014 report presents a comprehensive and up-to-date cost and performance overview of the European energy technology portfolio for the period 2010 to […]

  • 17 March 2016
    Project & Tenders

    EnQuest, an independent oil and gas firm with assets in the UK North Sea, will continue with cost cutting efforts in 2016, both on capex and opex. In its 2015 results statement on Thursday, the company said its unit operating costs in 2015 were  $29.7 a barrel, down from $42.1 a barrel in 2014. For […]

  • 25 September 2015
    Project & Tenders

    Statoil, the operator for the Johan Sverdrup development, in the North Sea offshore Norway, has presented a preliminary capex estimate for the first phase of the development to the partnership. The Johan Sverdrup partnership consists of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil. According to Det norske, the updated estimate is showing […]

  • 19 January 2017

    Swedish oil company Lundin Petroleum plans for its 2017 development, appraisal and exploration budget of $1.3 billion, an increase compared to $1.08 billion in 2016, to focus on Norway. As at December 31, 2016, Lundin’s proved plus probable working interest reserves are 743.5 million barrels of oil equivalents (MMboe) and its best estimate contingent resources are 267 […]

  • 29 January 2015
    Business & Finance

    Soco International has said that its capital expenditure for 2014 should be around $90 million, down from $161 million in 2014. The majority of the planned investment, 70 million, will go on Soco’s operations in Vietnam, while $20 million will be spent for its African operations in Congo. Furthermore, the company has also set aside $25 million […]