Industry outlook confident, despite challenges
Confidence in the global oil and gas industry for 2013 has increased compared to the previous year - despite multiple challenges facing the industry, according to a new report.
national oil companies
Scot with a passion for the Middle East
Ten years ago, North Sea people viewed the Middle East as an onshore play with some shallow offshore tacked on. On the face of it this was not a target market for UK companies and technologies honed in north-west Europe's hostile maritime environment.
WoodMac analysts caution on East Africa gas bonanza
A massive 100trillion cu.ft of gas has been discovered in Mozambique and Tanzania to date, ranking the Rovuma Basin as one of the most prolific conventional gas plays in the world, according to analysts.
PDVSA in South Atlantic?
PDVSA and YPF are considering a joint exploration campaign in the South Atlantic Malvinas Basin located between the Argentine mainland and the Falkland Islands.
Heavy oil community set for Aberdeen venue next month
Since its launch in 2006 in Beijing, World Heavy Oil Congress has gained the reputation as the strongest platform for international and national oil companies, governments, service companies and international experts to navigate challenges and opportunities related to unlocking heavy oil around the globe.
Deals a big step and more could follow, says professor
Aberdeen University petroleum economist Professor Alex Kemp said the two deals were a "big step" - and more could follow from China.
Strong oil prices open doors for the cash rich
Our demand for energy is immense and growing. World energy consumption continues to grow and with China and India representing over a third of the world's population, their rapid development is set to increase energy consumption significantly in the coming years.
Norwegian geophysical group gobbles up UK firm
UK company Stingray Geophysical has been snapped up by TGS-Nopec Geophysical of Norway.
Forecasts signal energy industry’s revival – analyst
Wood Mackenzie said yesterday that UK North Sea upstream oil and gas industry capital spending this year would be around £4.8billion, slightly down on £5billion in 2009.
Petrofac blazes trail with Opito-accredited major emergency management course
PETROFAC Training Services (PTS) has become the first provider in the world to be approved for the new Opito-recognised major emergency management initial response course.
National oil companies going ‘global’
With the £1.7billion takeover of Aberdeen-based Dana Petroleum by the Korean National Oil Company (KNOC) now all but complete, the purchase sheds light on an increasing phenomenon in oil and gas - the growing prevalence of National Oil Companies (NOCs).
Floater boom in prospect as demand grows
A boom for floating production, storage and offloading units (FPSOs) is gaining momentum, with Germany's RHB Research Institute warning of capacity shortages and rising charter rates.
Setting global standards for the energy industry
Opito - the Oil and Gas Academy has announced a major restructuring under which it will continue its skills agenda in the UK but also deliver standards to improve workforce safety and competency worldwide.
One world, one industry – and one standard
New year, new horizons, new challenges. It is sound business advice to say that if you stand still for too long you get left behind.
Oil investment warning to UK Government
Wood Mackenzie has warned the UK Government to be constantly aware of the investment environment to maximise development of remaining oil and gas reserves.
Investment slashed as incomes slide
Investment is being slashed by tens of billions of dollars across the oil&gas sector, largely as a result of the precipitous drop in prices since July, 2008. Global upstream budgets are falling for the first time in 10 years, according to the International Energy Agency.
North Sea still group’s most profitable region
Subsea 7 said yesterday that the market outlook continued to retain a degree of uncertainty for the medium term as a result of the current economic climate.
Meil sees sound future, yet 2010 could be tough
Graham Meil occupies a corner office at Acergy's splendid new campus at Aberdeen's Surf City. For anyone not familiar with Europe's Energy Capital, this does not mean a view of the North Sea; rather the vista is rural as this complex is located several miles inland at Westhill, a dormitory community.
Expro chief unfazed by news of investment value writedown
The chief executive of international oilfield service group Expro said yesterday it continued to perform extremely well, despite one of its owners writing down the value of its investment in the company.
Broker forecasts short and sharp oil service downturn
Broker Evolution Securities believes that a downturn for oil service companies is inevitable, but it will be short and sharp, and that recovery is likely to be equally rapid and certainly apparent in 12 months.
Market outlook ‘uncertain’ as projects delayed
Oil and gas engineering and construction contractor Subsea 7 said yesterday the market outlook was uncertain for the medium term as a result of the economic climate.
China – the global oil game-changer
China's oil majors are counting a bundle of mixed blessings this year as they seek to recover their confidence abroad after striking out on the acquisition trail in 2007.
Listen to the young – they should be heeded
OFFSHORE Northern Seas has long had a strong conference programme - strategic, bold and, on occasion, controversial.
Purchaser numbers up to 82
TWO new purchasers have joined FPAL, the driving force behind supplier selection in the North Sea.
Leading expert appointed
ABERDEEN-BASED composite pipe repair solutions provider Walker Technical Resources (WTR) is moving into its next stage of global growth by appointing Professor Simon Frost as technical director and exporting to new markets around the world.