There is a quiet but confident sense of growing optimism about prospects for the oil and gas market. The industry is now a far cry from 2015’s oil price crash that led to widespread decommissioning and lay-offs. Whilst operators are still facing volatile markets…
In times of oil price volatility, operators can take certain actions to reorient their businesses, generate sustainable value and reignite investor interest.According to the “New horizons: Strategic choices for upstream oil and gas companies…
Royal Dutch Shell has appointed Wael Sawan to head its oil and gas production division, replacing Andy Brown who will step down after 35 years at the Anglo-Dutch company.Sawan, 44, a Canadian citizen of Lebanese origin, currently heads Shell's deepwater operations…
Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals.The minister…
When the owners of Norwegian oil firm Aker BP decided to digitise its assets and operations, they searched high and low for the right software company. But they failed to find a suitable one.So instead they set up their own, Cognite, to create digital maps of Aker BP's oil industry assets…
In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP's shale business turn a profit for the first time.Thousands of automated wells feed data on their performance into the firm's supercomputers each evening…
The Internet of Things, a world in which equipment and instrumentation can talk to each other and modify operating parameters – across platforms, fleets and whole businesses – accordingly, is close at hand. Having the communications infrastructure in place is what will help make it happen…
UK focused Independent Oil and Gas (IOG) has been given a two-year extension on its Harvey license in the North Sea and says it plans to drill on the license by September 2019. The Oil & Gas Authority has extended the initial term for license P2085 to 20 December 2019…
Chevron has agreed a seven-year partnership with Microsoft which will see the internet giant become the oil major's primary cloud provider. Chevron says the move will 'accelerate the application of advanced technologies including analytics…
While automation has begun to be slowly implemented offshore, it’s going to take a full business transformation to get IoT and other technologies fully implemented. Karen Boman reports. The industrial Internet of Things (IIoT) could…
Weatherford International and Intel Corp. will collaborate to bring the Internet of Things (IoT) technologies to the oil field. Colin Tait, director of information technology at Weatherford, stood alongside Jonathan Ballon, vice president…
The Internet of Things could help transform drilling rig technology, but it isn’t a panacea, warns a Transocean official. Karen Boman reports. Gutierrez Though a lagging indicator…
Digital drillship. Photo from GE. Reducing maintenance costs is the primary focus of the oil and gas industry’s quest to get more insight from Big Data. But, can they successfully navigate remaining barriers…
Job losses in the industry have slowed to about 13,000 in 2017, compared to almost 60,000 in 2016, according to a new report by Oil & Gas UK. The Economic Report 2017, which was released at an SPE Offshore Europe business breakfast on Wednesday…
The fact that the design of offshore oil and gas platforms has remained largely unchanged for the past 40 years indicates the oil and gas industry’s slow progress in adopting not only new technology, but new design and business models. Industry…
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