Upstream oil and gas companies may be quietly optimistic about the outlook for 2017 but many remain cautious, according to a report by Scottish energy consultancy Wood Mackenzie (WoodMac).
The oil and gas industry can be “lazy” about adopting new technologies or “fantastic” at it, according to two of the speakers in a panel debate at the ITF event at Aberdeen Exhibition and Conference Centre yesterday.
Oil major Chevron could launch a new tender for its Rosebank FPSO (Floating Production, Storage and Offloading) vessel after it terminated its order for with Hyundai Heavy Industries (HHI) last month.
Oil major Chevron said its budget for next year will see a reduction of 42% from 2015 and is expected to be at least 15% lower than projected investments for 2016.
Chevron has appointed a new president for its African and Latin American operations after incumbent Ali Moshiri decided to call it a day after 38 years.
US oil major Chevron has commenced production on one of the oldest North Sea gas discoveries today in what has been hailed as a significant technological achievement creating hundreds of jobs in the UK.