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The acquisition will give IHS access to real-time pricing data, which chairman and CEO Jerre Stead said in a release would give the company “visibility across the entire petroleum value chain, from wellhead to consumer.”
The Mexican president is one of many high-profile speakers slated to participate at the annual conference.
Oil companies hoping to ride out the worst downturn in years are embracing new technologies aimed at helping them wrest more oil and gas from the ground.
The nation with the world’s fifth-largest crude reserves may need to buy about 50,000 barrels a day of gasoline if sanctions are removed in early 2016 as expected.
The protective hedges used by 48 petroleum companies IHS examined will cover 60 percent less of their expected production than this year.
The Latin American country’s chemical industry hasn’t seen new investment in the past 15 years thanks to declining oil and gas production and a lack of infrastructure.
At the George R. Brown Convention Center on Wednesday, wildcatters gathered to negotiate deals for oil and gas properties in Texas and elsewhere during the industry’s largest oil lease swap-meet, the summer NAPE.
The bountiful ethane that comes from natural gas liquids and U.S. shale production would become more scarce, according to the IHS report. Ethane is used to make ethylene, which which is the main building block for plastics.
Beleaguered drillers wrote off $29 billion in the first quarter of the year alone, more than the 2014 full-year total of about $25 billion.
The CEO of Schlumberger says American oil producers are purchasing a lot more new technology in this year’s oil downturn than in previous rough patches, with new tools making up almost a quarter of the company’s revenue.