Oil’s rout is over, hail the return of $100 crude! Maybe
After three years of gloom, the number 100 is finally starting to resurface in the forecasts of market analysts.
Opinion
Managing change and engineering for the future
Stephen Hawking once said: “Intelligence is the ability to adapt to change” writes Bruce Gill, director of Denholm Engineering
Tendeka: Positive about oil and gas future
Everyone knows the oil and gas industry has gone through a few very tough years. The North Sea was particularly susceptible being so dependent on oil and gas, with almost 200,000 people losing their jobs since the downturn began in 2014. That’s 39% of those employed in the industry out of work.
Iqarus: T’was the Season to be Jolly
With the passing of the festive season with the now traditional over indulgence in food, drink, social interaction and spending, many people are left with more than one form of ‘hang-over’.
Digital ecosystem ensures offshore operational certainty
Emerson has successfully delivered integrated control and safety systems and simulation tools in the West of Shetland to bring production assets on stream in the Clair, Schiehallion and Solan fields.
All left to play for as OGA set out Vision 2035
It’s exactly three years since I joined the OGA, and alongside the chief executive and team members, we worked with our colleagues in DECC (now part of BEIS) to decide how, against the backdrop of the colossal challenges staring the industry in the face, we could build the Oil and Gas Authority to support industry and make a meaningful difference.
Opinion: Pressure rising on OPEC to manage long-term output
The battle between OPEC and shale oil producers can be characterized as a two-round fight. In the first round, shale producers gained market share and the price of crude crashed. In the second, OPEC curbed output as shale producers adapted to the lower prices. Now, get ready for round three, as OPEC and Russia try to plot a way out of their production cuts but likely get stymied by market twists and turns that upset their calculations.
Opinion: Insurers need to pull the plug on coal
Coal power plants with a capacity of more than 800 Gigawatt – 10 times the capacity of the whole British electricity system – are currently under construction or in the pipeline. A recent UNEP report has found that none of these plants can be built and existing coal capacity must be retired early if the world is to achieve the climate goals of the Paris Agreement.
Opinion: Hot money’s pushing oil to $70, but OPEC should keep cool
Brent crude touched $70 a barrel on Thursday, a level it last saw three years ago. That might start to look like a level where OPEC could say that its work to rebalance the market is done.
Opinion: Private players still finding it difficult to get deals done
2017 was the third full year of the most protracted downturn in the global oil and gas industry but was generally considered to be no worse than the previous two. Despite initial optimism at the beginning of the year, the industry remained flat with operators keeping a tight rein on spending notwithstanding a steady increase in commodity prices throughout the year.
Opinion: It’s just flip sides of the same North Atlantic coin
It seems like I’ve been writing about various bits of the Atlantic Frontier, from the Arctic to the Falkland Islands, forever. Reality is I’ve been at it for 27 years so roughly half the lifespan of the UK Continental Shelf.
Opinion: Confident 2018 will herald more North Sea transactions
As 2017 draws to a close, Richard Cockburn, partner at transatlantic law firm Womble Bond Dickinson, reflects on activity in the UK oil and gas industry over the past year and what is to come in 2018.
OGA’s impact on industry remains a work in progress, CMS says
December is always a good time to reflect on what we’ve seen in the past year and consider what the next 12 months might hold for the UK’s oil and gas sector.
Opinion: A quantum leap for transition
The energy transition and digital transformation were two of the biggest trends in the energy world last year. Growing concerns about climate change are accelerating the move towards low carbon sources, while tighter margins across industries are driving digitalisation.
Opinion: Don’t expect OPEC’s oil output deal to collapse in 2018
Whatever your view on the effectiveness of the deal between OPEC and a group of non-member countries to limit oil supply in order to drain excess inventories and boost prices, there is one thing that everybody seems to agree on -- they stuck to their guns much better than anyone thought possible for the whole of last year. But there is a growing chorus of voices calling the deal's demise this year. Here's why I believe they're wrong.
Opinion: Revolution, not evolution
2017 was the year when the digital revolution began to take centre stage – entering the public consciousness in a big way. Everywhere we turned, there were stories about robots, artificial intelligence, big data and how the fourth industrial revolution is transforming our lives, our work and the world around us.
Opinion: On the up – protecting your business in an improving oil and gas landscape
With confidence slowly returning, it seems business on the UK Continental Shelf is in better shape than it’s been for some time.
Opinion: Taking technology from this year to the next
As a new way of supporting and promoting the technology developer community, this year we launched our Innovation Network Tech Talks to increase interaction with oil & gas operators.
KPMG: Will 2018 be the year of consolidation in oilfield services?
After mergers and acquisitions (M&A) activity fell to its lowest levels in a decade in the first half of 2016, there was a notable pick-up in oilfield services (OFS) deals in 2017. However, with the rationale behind each deal varying, it is difficult to discern a clear single market driver behind these recent transactions.
Opinion: Oil part of Scotland’s energy mix despite low carbon objectives
Scotland’s oil and gas industry has helped power the Scottish and UK economy for decades. Our new Energy Strategy confirms that the sector has a major role to play.
Opinion: Carbon capture and storage – new year, new resolve to deliver on climate action
Looking back on where we were a year ago, 2017 has been a heartening time for carbon capture and storage (CCS). Promising noises from the UK and Scottish Governments suggest an acceptance that the climate technology is necessary for meeting greenhouse gas targets, and an acknowledgement that government support is necessary if we are to develop a home-grown industry at least cost.
Opinion: New Year hope for growth in energy services activity
Concerns over the potential impact of the Forties pipeline shutdown added a bump in the road of what had been a far more positive 2017 – with a more stable oil price supporting performance across the North Sea quietly welcomed.
Opinion: Smaller downturn survivors ‘held over a barrel’ by customers
My work station occupies a triangular space in the central hub of the house ... the kitchen-family zone. A 45 degree turn of the head to my right is a window that looks out across part of the garden.
Opinion: 2018 will be the year of the exit in the Granite City as deals activity increases
Tom Faichnie, managing director of Aberdeen-based Hall Morrice Corporate Finance Limited, believes that the next 12 months will see a surge in activity as shareholders finally look to execute exit plans. As 2018 approaches, he predicts how the business landscape of the Granite City will transform in the next year.
Opinion: 2018 promises to be another roller coaster
The last 12 months has seen something of a ‘changing of the guard’ in the North Sea as some of the major operators loosened control while other sharpened their focus on core areas for investment which resulted in a wave of mergers and acquisitions bringing on board new entrants to the UKCS.