Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Pre-salt fuelling Petrobras’ upstream ambitions
The offshore region is poised to significantly ramp up production as more midstream gas infrastructure reaches startup and divestments keep coming
Sturgeon omits Cambo from conference speech
No mention of the potential UKCS development in Scottish leader’s address to her party
Outlook 2022: A ‘just’ or ‘just in time’ transition for the UK North Sea?
For over 200 hundred years, the world has relied on fossil fuels for affordable, reliable energy. How does it get to an economy based on greener energy without triggering an adverse reaction?
Flaring risk for Hurricane
Too much gas could accelerate decommissioning of key remaining asset
US majors target Permian cash cow
Lower 48 production in the Texas and New Mexico shale play is poised to generate a mountain of cash over the next half-decade
OGA takes aim at Elgin-Franklin laggards
The UK upstream regulator is unhappy at partners in the field dragging their feet on the sale of ExxonMobil’s stake
Greenpeace makes further UK anti-oil protest after court defeat
The beleaguered E&P sector can breathe easier after legal ruling against the environmental NGO. But it has taken its message directly to the heart of the political establishment
‘Gas crisis’ brings UKCS supply into focus
The UK’s vulnerability to high international prices may offer an opportunity to remake the argument for domestic production
OGUK issues North Sea investment warning
The industry lobby group is concerned that a slowdown in UKCS spending does not translate into a stop
JOG looks towards UKCS regional electrification
Power-from-shore for the GBA project could be significantly expanded
North Sea UK Chevron Petrobras
Craig Guthrie
10 June 2019
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Mind the divestment gap

Oil and gas majors are setting increasingly ambitious divestment targets, despite volatile market conditions and questions over the size of the buyer pool

Cash from divestment forms a major part of oil majors' projected revenue streams , as well as more focused Opex spending, going into the 2020s. Yet despite an uptick in activity—and, arguably, bargain-basement prices—firms appear to be struggling to offload certain "non-core" assets In its annual report for 2018, BP noted that total divestment proceeds reached $2.9bn, against a target of $3bn for the year; but going forward it expects this to ramp up to more than $10bn over the next two years. The phrase "supported by divestment proceeds" is repeated several times in the report as a basis for meeting objectives such as reduced debt, echoing the sentiment in other majors' annual reports.

Also in this section
Old hands dominate Algeria’s upstream auction
24 June 2025
The country’s latest licensing round attracted bids from IOCs and NOCs in a better showing than its last outreach to bidders
Angola’s oil industry revamp
24 June 2025
Africa’s second-largest oil producer is creating the right conditions for the sector to try to boost output, explains Ian Cloke, COO of UK-based Afentra
ADNOC targets Santos in big LNG push
24 June 2025
The takeover, if it gets the all-clear from regulators and other government authorities, would propel XRG and its parent firm ADNOC into the top tier of global LNG players
Oil demand ramps up air miles
23 June 2025
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search