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US Reduces Upstream Activity Abroad

By  AOG Staff Sunday, 11 August 2019 16:51
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Rystad Energy data reveals that from 2014 to 2018, companies in Asia which experienced a merger and acquisition showed the most significant growth globally, increasing oil and gas production by about 1.4 million boepd by investing heavily in Asia, Russia and the Middle East.

Graph: Rystad Energy
Graph: Rystad Energy

In North America however, the trend is quite the opposite, said the energy research and business intelligence company.

North American companies which underwent M&A activity reduced their production over the same period by approximately 1.3 million boepd, selling their assets primarily in the Asia, Europe and the Middle East to finance shale development domestically.

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