Costs continuing to rocket
Costs in the oil&gas industry continue to rocket, though IHS CERA says there are signs of moderation. The organisation's upstream index is up 9.2% over the past six months - 3.2% higher than for the prior six months.
Oil & Gas
OE 2009 – freshness and relevance
The chairman of the 2009 Offshore Europe conference is promising an exciting programme with heavy emphasis on strategic issues, especially climate change and Big Oil, globalisation of the talent pool, operating models and breakthrough technologies.
Selwa bounces back with boutique consultancy
A new company, R&A Investments, has quietly emerged on to the North Sea stage. Its founder, Richard Selwa, previously established the multifaceted oilfield SME, Vienco, and prior to that, was with engineering consultancy IGL.
A properly resourced energy department needed, please
Throughout the twists and turns of 2008 - and, let's face it, there have been many - the UK oil&gas industry has continually sought to secure a constructive partnership with the Government department responsible for energy.
Best of times and worst of times
2008 began as a year of tremendous promise. Commodity prices were on a steep upward trajectory and showed no signs of slowing down, global economies were growing and there was an unbridled sense of optimism and that it really was different this time.
Baxter quietly passionate about carbon
As the push to control carbon emissions intensifies so the number of oil&gas people engaging in the battle grows. One such person is Tom Baxter, unit director of Genesis Oil & Gas Consultants in Aberdeen.
Petro-Canada latest to launch scholarships
Five students from the University of Aberdeen have been awarded the first round of engineering scholarships from Petro-Canada, which has put up a purse of £140,000 over four years to fund 20 scholars.
2009 – the year time will stand still
For the energy sector, 2009 could, for many reasons, be a watershed year. The economic downturn - the recession or depression - will be in full swing and will be accompanied by a further fall in energy demand.
Fasten seatbelts for a roller-coaster of a year
Welcome to 2009 - a guaranteed roller-coaster of a year, of that one can be sure. It will be a case of fasten seatbelts and prepare for a rattling. I regularly harp on about Opec and the criticality of its decisions to the non-Opec community, of which the North Sea is clearly a member. Well, in recent weeks, Opec decided to make two major output cuts.
Pirates – not just of the Caribbean
The hijack of the Saudi-registered supertanker, Sirius Star and the taking captive of its crew, including a Scot, brought the issue of piracy to the fore, highlighting to those for whom such an issue is not an everyday concern that the scourge of piracy is not just a historical threat, but a very real one, alive and thriving today.
Time to call time on ‘light touch regulation’
The cathartic financial events of recent months have exposed a great many naked emperors - not a pleasant sight, particularly in Edinburgh, where some had been entrusted with running Scotland's major banks.
Technology marches on : ITF reports ‘exceptional’ year
2008 was an exceptional year for the Industry Technology Facilitator in terms of the numbers of projects launched, levels of funding secured and technology implementations. This has been achieved despite a backdrop of gloomy economic forecasts, oil-price crash and banks reluctant to lend to businesses.
Hydrocarbon mapping in non-invasive way
TWO initiatives that could help produce maps of hydrocarbon location, and thus enable more accurate targeting of reservoirs, were launched at the end of June, having been submitted to a call for proposals issued in 2007.
Firm hand on helm at subsea firm
The Europe and Canada head of one of the world's top subsea contractors believes the offshore industry will successfully weather the credit-crunch storm as oil fundamentals are in its favour, even though global demand for this critical commodity is plummeting.
EMGS launches world’s first purpose-built EM survey vessel
NORWEGIAN company Electromagnetic Geoservices (EMGS) reports the successful launch of the world's first purpose-built EM survey vessel in order to enhance hydrocarbon exploration across the world.
Marine renewables – UK must not squander chance
Looking around the room as I stood up to present at a recent Scottish Renewables Forum event in Aberdeen, I was disappointed but, frankly, not surprised by the lack of subsea oil&gas industry people.
Russian gas monopoly cuts off all supplies to Ukraine
Russian gas monopoly Gazprom said it cut all gas supplies to Ukraine yesterday after talks broke down over payments for past shipments and a price for 2009.
Fears for jobs as oil and gas firm faces administration
Oil and gas firm Oilexco North Sea (ONS) is poised to go into administration, leaving a questionmark over 50 jobs in Aberdeen.
Lean second half forecast for North Sea
Hundreds of millions of pounds of oil and gas exploration and development activity in the North Sea will be shelved next year, the senior partner of PricewaterhouseCoopers in Aberdeen has warned.
Causeway phase-one plan submitted
Oil and gas operator Antrim Energy said yesterday it had submitted a field-development plan for the Causeway oil discovery in block 211/23d north-east of Shetland to the Department of Energy and Climate Change.
Opito director on GlobalScot mission
OPITO - the Oil and Gas Academy's director of international business development is to join GlobalScot, the select group of international business leaders committed to advancing Scotland's success around the world.
Aberdeen Gateway secures first major tenant
THE Aberdeen Gateway Business Park in the city's Wellington Road has gained its first major tenant.
Granite City firm hails first oil from Grouse
Venture Production, the Aberdeen-based oil and gas operator, said yesterday it had successfully brought the Grouse oil field into production.
Oil price volatility likely to continue despite Opec moves
Motorists have had a rollercoaster ride at the petrol pump this year as oil prices careered to record levels before falling back.
Disposal of platforms on the cards
The steep fall in the oil price could lead to a boom in the decommissioning of older North Sea platforms.