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IEA: The world needs upstream oil and gas investment

Oil & Gas 360ยบ

(Oil Price) –The world needs upstream investments in existing oil and gas fields to support global energy security, Fatih Birol, the executive director of the International Energy Agency (IEA), said at the CERAWeek by S&P Global conference in Houston. There is a need for oil and gas upstream investments, full stop, Birol added.

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Tanzania Plans to Launch Its First Oil and Gas Bid Round in Over a Decade

OilPrice

We are proceeding with promotion activities because the blocks have already been identified and the data is in place, Charles Sangweni, director general of Tanzanias Petroleum Upstream Regulatory Authority (PURA), told Bloomberg in an interview published on Thursday.

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bp sets new course, plans 75% group capex allocation to upstream oil and gas

Oil & Gas Journal

The company will increase upstream spend to 75% of group capex as it simultaneously plans to become more selective with energy transition spending.

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OPEC Demands Consistency After Another IEA U-Turn

OilPrice

This weeks call from the International Energy Agency (IEA) for continued investment in existing oil and gas fields is another moment of truth for the Paris-based agency, highlighting its inconsistent messages about upstream investment, OPEC says. OPEC reviewed the messages the IEA has issued since 2017 in an article published on its website.

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W Energy Software to Launch Natural Gas Measurement Solution

NGT News

W Energy Software, a company that specializes in upstream and midstream oil and gas ERP solutions, says it will launch its oil and gas measurement product line to track liquids and natural gas measurement data across the energy value chain later this year in the fall.

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Reinventing upstream oil and gas operations after the COVID-19 crisis

McKinsey

To come out of the crisis, the sector needs to change how it works.

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Upstream Midstream Downstream โ€“ What is the Difference?

Aresco

Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs.