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Here are some of Rigzone's top upstream stories during the last week, just in case you missed them…
Permian in for Prosperous and Bright Future
According to a new report from the Permian Strategic Partnership, the Permian Basin’s future is prosperous and bright. The report outlined that the region will remain an energy epicenter for decades to come but warned that investment was necessary.
Big Bank Makes Bullish Oil Prediction
Oil prices will get back up to $60 per barrel before the end of next year, Citigroup Inc outlined. The move may not last long though, according to Citi.
Oilfield Services Poised for Transformation
One of Rigzone’s regular market watchers predicts that lasting changes are likely on the horizon in the oilfield services and equipment industry.
BP and Shell Call on Texas to End Routine Flaring
Bloomberg reported that BP and Royal Dutch Shell urged Texas regulators to end the routine flaring of natural gas. The companies are calling for tougher rules than those proposed by the Railroad Commission of Texas, Bloomberg outlined.
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Petrofac Bags Multimillion Dollar Ithaca Deal
Petrofac’s Engineering and Production Services business has netted a multi-million dollar integrated services contract with Ithaca Energy. Under the new five-year deal, Petrofac will integrate operations, maintenance, engineering, construction and onshore and offshore technical support across Ithaca’s North Sea operated asset base.
Oil Price Adjustment Was Overdue
From a fundamental basis, the recent oil price adjustment that saw prices slip by over $5 per barrel was overdue, according to oil and gas analysts at Standard Chartered.
Apache and Total Evaluate Suriname Discovery
Apache and Total have updated the technical evaluation of their Kwaskwasi-1 discovery well in Block 58 offshore Suriname.
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