‘A statesman for the industry’: Tributes paid to Westwood Global founder John Westwood
Tributes have been paid to John Westwood, founder of the namesake energy market analytics firm, who has died aged 76.
Douglas Westwood
Reid steps down from CEO role at Westwood Global
Energy industry analyst Andrew Reid said he was leaving consultancy Westwood Global Energy Group (WGEG) in “exceptionally good shape” after confirming his time as chief executive had ended.
Wood shrinks debt pile to £1.8bn, targets full year EBITA
The newly formed Wood has shrunk its debt pile to £1.8billion in the wake of the Amec Foster Wheeler takeover, its pre-closing statement revealed today.
Another 200 new North Sea jobs but expert warns the outlook remains ‘bleak’
About 200 more new jobs are being created in the UK North Sea in the latest in a string of morale boosting developments in the offshore oil and gas industry.
Westwood Global snaps up US market researcher
An Aberdeen-based group of energy consultancy firms has kicked off its expansion drive with the acquisition of a US firm.
Decommissioning will ramp up as maintenance backlog bites, analysts say
A platform maintenance backlog will “catch up” with North Sea operators, ushering in a first peak in decommissioning work, analysts have said.
ESIA re-launches as Westwood Global Energy Group
A group of energy research and consulting companies that includes Douglas Westwood has been renamed and reorganised.
Troublesome outlook for heavy lift vessel contractors, DW warns
A combination of low oil prices and a drop off in platform installations is contributing to a troublesome outlook for heavy lift vessel (HLV) contractors, an analyst has said.
Subsea 2017: Oil service community decimated by downturn, Andrew Reid says
North Sea industry may find that it is ill-equipped to capitalise on rising oil prices following two years of stripping out costs.
Douglas Westwood analyst predicts offshore spending drop, casts doubt on OGA drilling forecast
Spending on offshore oil and gas will drop in Western Europe over the next few years despite forecasts of more stable crude prices, new research shows.
Surge in offshore wind activity to continue, says Douglas Westwood
Offshore wind construction activity has surged in recent years with the trend likely to continue as industry's engineering projects increase to €286billion between next year and 2025.
Opinion: OPEC decision a shot in the arm
The preliminary announcement by OPEC of a deal to cap production between 32.5 and 33 million barrels per day has given a welcome shot in the arm to the upstream market. While the specifics will be announced by OPEC at their November meeting in Vienna, on the face of it, it’s a hugely positive signal for the sector and points to a near term turn in the market.
Opinion: Low oil price has bigger impact than Brexit will
This morning the UK woke up to the news that it is to leave the EU, as 52% majority supported the leave campaign.
Expert claims sale of Saudi Aramco IPO would be “huge” moment in oil and gas sell offs
A leading oil and gas expert said an Initial Public Offering (IPO) by Saudi Aramco could potentially be the largest on record.
Opinion: The bottom of the barrel?
On Friday, OPEC concluded its 168th Meeting of the Oil Production and Exporting Countries Conference, with members agreeing to effectively abandon the 30 million barrel per day (mmbbl/d) production limit which has been in place since 2011. Brent crude, the international standard benchmark, fell some 3.23% on Monday to the lowest front month futures price since late 2008.
Douglas-Westwood joins forces with Hannon Westwood
Douglas-Westwood and Hannon Westwood have united as part of the ESIA group of companies.
Opinion: Shell and BG – the industry is ready for through-cycle investors
Established oil and gas investors have long been aware that in this market you need to take a ‘through-cycle’ strategy, managing the up cycle in the knowledge that tougher times are always on the horizon. The execution of the strategy in down cycle, organic or inorganic, can play a decisive role in determining the winners when the market recovers. And the market will recover.
#OG2050: Highlights from Energy Voice – Securing Our Future
Energy Voice brought together an expert panel and an informed audience for Energy 2050 - Securing Our Future, offering a unique insight into where the oil and gas industry is headed in coming years.
Offshore Europe 2015: Douglas Westwood predicts ROV market to total more than $14billion
Energy analysts Douglas Westwood have forecast the market for the operation of work-class ROVs to total more than $14billion from now until 2019. The findings represent a 19% increase on the previous five-year period. However the findings revealed some difficult conditions in the near-term market with weaker dayrates and lower levels of utilisation.
Opinion: Next year we will be millionaires!
As the balloon bursts in Brazil and the party is over a lot of companies will be hit.