• Upstream
  • Pipelines & Transport
  • Downstream
Oil&Gas Advancement
  • Home
  • News

    Key Actions For Emission Reduction In Oil And Gas Sector

    Role of Hydrogen Fuel In The Future of Restoration Ecology

    Blending LPG And Biogas: A Cleaner Energy Solution For India

    Turkmenistan Plans To Export Natural Gas To European Nations

    Power of Siberia Line To Send Gas From Siberia To Shanghai

    Europe Must Cut Its Gas Demand Or Face Supply Challenges

    Arabian Pipes Co wins $42.6m supply contract from Saudi Aramco

    Bulgaria, Greece Ink Plans For Bidirectional H2 Distribution

    Touchstone Exploration discovers oil and gas deposit onshore Trinidad

    Kazakhstan Offers Above 50 Oil & Gas Fields For Exploration

    Brent crude oil price falls 24%, second largest one-day decline on record

    G7 Confirms Maintaining The Russian Oil Price Cap At $60

    Russian Fuel Supplies To Iran Through Rail Begin – Sources

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

    Santos receives major approval for oil and gas development offshore Western Australia

    Eni, Repsol press Maduro for more control to increase oil production from Venezuelan oil fields

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

    Equinor Energy

    Transocean secures offshore drilling rig contract from Wintershall and OMV

  • Market Reports
    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    Empire Petroleum buys US oil and gas assets from ExxonMobil

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News

    Key Actions For Emission Reduction In Oil And Gas Sector

    Role of Hydrogen Fuel In The Future of Restoration Ecology

    Blending LPG And Biogas: A Cleaner Energy Solution For India

    Turkmenistan Plans To Export Natural Gas To European Nations

    Power of Siberia Line To Send Gas From Siberia To Shanghai

    Europe Must Cut Its Gas Demand Or Face Supply Challenges

    Arabian Pipes Co wins $42.6m supply contract from Saudi Aramco

    Bulgaria, Greece Ink Plans For Bidirectional H2 Distribution

    Touchstone Exploration discovers oil and gas deposit onshore Trinidad

    Kazakhstan Offers Above 50 Oil & Gas Fields For Exploration

    Brent crude oil price falls 24%, second largest one-day decline on record

    G7 Confirms Maintaining The Russian Oil Price Cap At $60

    Russian Fuel Supplies To Iran Through Rail Begin – Sources

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

    Santos receives major approval for oil and gas development offshore Western Australia

    Eni, Repsol press Maduro for more control to increase oil production from Venezuelan oil fields

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

    Equinor Energy

    Transocean secures offshore drilling rig contract from Wintershall and OMV

  • Market Reports
    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    Empire Petroleum buys US oil and gas assets from ExxonMobil

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home Africa

Chevron Vows To Use ‘Lessons Learned’ After Angola LNG Missteps

Yuvraj_ong by Yuvraj_ong
September 26, 2014
in Africa, Downstream, News
0

A string of missteps at a $10 billion Angolan liquefied natural gas venture has hurt Chevron Corp’s reputation as a top-notch operator of profitable energy projects around the world.

 

Chief Executive Officer John Watson vowed Chevron will learn from the stumbles, which include multiple electrical fires, pipeline leaks, and even a worker’s death after a rig collapsed last summer. The company plans to have the LNG project up and running by next year.

 

“Ultimately, we’re accountable for it,” Watson said in an interview with Reuters. “There have been some lessons learned on that (Angolan) project. But I don’t point fingers. This is our responsibility.”

 

The frank comments, unusual for a major corporate leader, come as Wall Street pressures major energy companies to maintain or boost production to keep profits flowing – a goal made increasingly harder by the rising costs of finding remote oil and natural gas reserves.

 

The Angolan trouble led Chevron to create an internal project management system to better track contractors and subcontractors on major projects, Watson said. Chevron is the largest stakeholder in the Angolan project, with partners that include Total SA, BP Plc, ENI SpA and Angola’s Sonangol.

 

“We’ve learned from the experiences at Angola LNG and other projects, working to make sure those same issues, or issues like them, don’t happen on the next generation of projects,” he said.

 

Watson’s comments on the Angola project should help assuage concern the delay could cause the company to miss its 2014 production goals, roughly 2.61 million barrels of oil equivalent per day.

 

“We’re still on track to reach that,” Watson said.

 

The Angolan mishaps will help Chevron as it moves forward on engineering and design for its Kitimat LNG project in British Columbia, Watson said, an indication Chevron is unlikely to pull the plug even after Apache Corp quit.

 

Chevron is also nearing completion on two massive LNG projects off the Australian coast to supply Asian markets.

 

Shale Threat?

 

Even as Chevron works on LNG projects, the rise of the North American shale industry has boosted global supplies of natural gas. Chevron is a major natural gas producer in Pennsylvania’s Marcellus region.

 

Yet the company is struggling to lock-in sales contracts for its Gorgon LNG plant in Australia, the world’s most-expensive LNG operation.

 

In Australia, seven LNG projects should be online by 2017, which, taken with the North American shale renaissance, have raised concerns about global oversupply.

 

Brushing aside any worry, Watson referenced Japan, which is fazing out nuclear power, and China, with a rapidly rising middle class, as major customers. Chevron has said global LNG demand will double from 2012 to 2025.

 

“We think the demand will be strong for LNG for many years to come,” Watson added. “Many countries that don’t have these resources will continue to be major sources of demand.”

Previous Post

Yamal, Russia's Gas Megaplan, Becomes Symbol of Sanctions Defiance

Next Post

Petronas Still Eyeing Year End for Canada LNG Investment Decision

Related Posts

Downstream

Key Actions For Emission Reduction In Oil And Gas Sector

May 25, 2023
Downstream

Role of Hydrogen Fuel In The Future of Restoration Ecology

May 17, 2023
News

Blending LPG And Biogas: A Cleaner Energy Solution For India

May 17, 2023
News

Turkmenistan Plans To Export Natural Gas To European Nations

May 4, 2023
Power of Siberia Line To Send Gas From Siberia To Shanghai
Downstream

Europe Must Cut Its Gas Demand Or Face Supply Challenges

April 29, 2023
Arabian Pipes Co wins $42.6m supply contract from Saudi Aramco
News

Bulgaria, Greece Ink Plans For Bidirectional H2 Distribution

April 27, 2023
Next Post

Petronas Still Eyeing Year End for Canada LNG Investment Decision

Latest Post

Arabian Pipes Co wins $42.6m supply contract from Saudi Aramco
News

Bulgaria, Greece Ink Plans For Bidirectional H2 Distribution

April 27, 2023
Touchstone Exploration discovers oil and gas deposit onshore Trinidad
News

Kazakhstan Offers Above 50 Oil & Gas Fields For Exploration

April 18, 2023
Brent crude oil price falls 24%, second largest one-day decline on record
News

G7 Confirms Maintaining The Russian Oil Price Cap At $60

April 18, 2023
News

Russian Fuel Supplies To Iran Through Rail Begin – Sources

April 13, 2023
Groundbreaking new app details every energy resource in the North Sea
News

Alliance Takes Tough Stand On New Upstream Oil-Gas Projects

March 30, 2023
Saudi Arabia sets its sights on hydrogen export leadership
News

Quest For LNG By Europe May Not Be All That Flourishing

March 30, 2023
Oil&Gas Advancement

About Us

Oil and Gas Advancement is an information centric knowledge sharing platform focused on the latest news in the B2B oil and gas sector bringing to our audiences B2B updates on upstream, downstream, pipeline and transport categories providing information on the latest projects and developments.

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2018 Copyright Valuemediaservices 2018 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2018 Copyright Valuemediaservices 2018 All rights reserved.