OTC 2016: ‘It’s not about where we stand, it’s about the direction we’re moving’
“The greatest thing in this world is not so much where we stand as in what direction we are moving” said German writer/statesman Johann Wolfgang von Goethe.
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OTC 2016: Exclusive – M2 Subsea launches in Houston
At 2am this morning Aberdeen company M2 Subsea, “pushed the button on setting up in Houston”. The ROV operations firm, incorporated on December 7 last year, sees the US Gulf of Mexico as a key market for its services and is said to be very close to landing its first contract in the region, possibly within days.
North Sea helicopter crash: Airbus orders EC-225LP customers to carry out urgent checks
Airbus Helicopters, the manufacturer of the EC-225LP helicopter that crashed in Norway last week, killing all 13 people on board, has sent an advisory to all customers using the same Airbus model to inspect the suspension bars and fittings of the main rotor.
University scientists head to North Atlantic for oil spill study
Scientists from the University of Aberdeen heading for the North Atlantic to test a pioneering piece of research equipment that they believe will help improve how deep ocean ecosystems function and respond to a major oil spill.
All-Energy 2016: Dong Energy to cover costs of “going green”
Dong Energy said it will cover additional costs associated with "going green" so that businesses can access renewable electricity and achieve sustainability ambitions.
Shell reports $4billion drop in earnings compared with 2015
Royal Dutch Shell’s first quarter 2016 earnings dropped to $0.8 billion compared with $4.8 billion for the same quarter a year ago.
Plexus lands another wellhead order from Det norkse
Engineering firm Plexus Holdings has received its ninth order since 2012 from Det norske to supply surface wellhead and mudline equipment services for the Langfjellet exploration well offshore Norway, worth around £600,000.
Venezuela oil output slumps in first quarter as drilling slows
Venezuela’s oil production dropped across all regions in the first quarter for the first time since 2008, according to energy consultant IPD Latin America.
Alberta fires force evacuation as Suncor cuts oil-sands output
Alberta’s largest-ever evacuation from a wildfire has forced tens of thousands people to flee Fort McMurray and prompted Suncor Energy Inc. to reduce output in Canada’s main oil-sands region.
The changing face of the North Sea – and of OGUK
Moves to restructure infrastructure ownership in the North Sea were in the spotlight at an Oil and Gas UK (OGUK) business breakfast in Aberdeen.
OTC 2016: ‘Macroeconomics created crisis, North Sea’s reputation will right it
The first quarter 2016 reporting season is in full swing for many of the oil and gas companies. It was never going to be an easy ride, but the market has been pleasantly surprised that many of the leading companies are beating analysts’ forecasts by reporting better than expected results. The impact of cost cutting is feeding to the bottom line and combined with rising production, resilient refining margins and positive contribution from trading activities, the share price of most of the International Oil Companies have been rising steadily, despite the ongoing challenges with commodity prices.
OTC 2016: Standing still not an option, oil prize still worth fighting for
Standing still is not an option when there is still a substantial oil prize worth fighting for, panelists argued at Energy Voice's business breakfast.
OTC 2016: Operators squeezing service sector harder than ever, it’s squealing back
Operators are squeezing the service sector as hard as they ever have and it's starting to squeal back, according to company leaders.
OTC 2016: Aberdeen firm RDT invests in Houston
Third-time OTC exhibitor Reactive Downhole Tools (RDT), of Aberdeen, has beefed up its management team by appointing someone to head up business development in North America.
Opinion: The best way to predict the future is to create it
Technology development is really the only way forward and other countries seem to understand this better than we do
OTC2016: Tax trouble ahead for cash-hit oil companies
The new international tax regime being adopted across the world presents a serious risk to the regeneration of the oil and gas sector, specialists have warned.
OTC 2016: The days of spending profits on handbags and fast cars are over
The days of the industry spending profits on handbags and fast cars are over, according to the executive chairman of OES Oilfield Services Group.
OTC 2016: North Sea strain forcing US gains
Continued instability in the North Sea is prompting a new generation of oilfield services companies to look towards expansion into the US as a means of securing new business and attracting investment.
OTC Video: Doorway open to harnessing wind to power offshore water injection
A joint industry project led by DNV GL has come to the view that wind-powered water injection is a viable alternative to conventional, energy intensive systems offshore.
North Sea helicopter crash: Aker Solutions – “Time of deep grief”
Aker Solutions said the death of three workers in a North Sea helicopter crash was a "time of deep grief" for the company.
North Sea helicopter crash: Air investigators say initial findings point to “technical error”
Norwegian investigators said yesterday a North Sea helicopter crash which killed 13 people was most likely caused by a technical fault rather than “human error”.
Sub $50: Sir Ian Wood – The worst of the oil price is over
The worst of the oil price rollercoaster is over, according to industry leader Sir Ian Wood.
Trinity Exploration agrees repayment extension
Trinity Exploration said it has agreed a further extension to the moratorium on principal repayments.
Ithaca energy completes cash review ahead of Greater Stella production
Ithaca Energy said it has completed its planned semi-annual reserves based lending facilities review and continues to maintain its excess of $100million of funding headroom ahead of production from the Greater Stella area in the third quarter of 2016.
Biggest wealth fund backs climate disclosure at Exxon, Chevron
Norway’s $870 billion sovereign wealth fund will back proposals to force Exxon Mobil Corp. and Chevron Corp., two of the biggest oil companies, to assess how climate-change policies can affect their business.