Insights News

 

E&P Players' Widely-differing Views on Oil Price Future

Jun 16, 2020

BP’s announcement that it is going to write down the value of its exploration assets by $8-10 billion (56-70%) shows the accounting impact of its energy transition strategy.It also highlights the huge variation in how oil companies are viewing future oil prices so that comparisons of asset values and returns on capital between oil companies are increasingly problematic.  A review of oil companies that…

COLUMN - Crude Oil Industry is Starting to Hear Echoes of Coal's Demise

Sep 17, 2020

If 2020 had been anything close to a normal year, the oil and gas industry would have just wrapped up its annual gathering in Singapore, most likely reassured of its ongoing essential role in humanity's future.But this is far from a normal year…

How Will the Asia Pacific Upstream Sector Emerge from the Crisis?

Jun 17, 2020

The oil price crash has transformed the outlook for the region’s E&P sector. Globally, governments and operators have been forced into action to rework investment plans in response to the dual impact of the precipitous fall in both demand and oil prices…

New Civil Conflict in Somalia Could Hurt Offshore Projects

Mar 04, 2020

Civil strife has been one of Africa's biggest hurdles to the exploration and production of oil and gas on the continent's waters. Despite a reduction in the conflicts, violence has flared up again in East Africa, as forces loyal to Somalia clashed…

Oil Stocks Rise on Stimulus, Orders, Oil price

Mar 03, 2020

Offshore energy stocks, about 34 of them, soared in value on Monday, as investors ignored corona-virus fears and heeded instead a number of U.S. and Norwegian market reports.Shares in Northern Drilling soared 31.48 percent by mid-morning in Oslo (before settling 12 percent up)…

Oslo on Monday: 45 Oil Stocks Rattled

Feb 24, 2020

Despite a string of good-news messages in recent weeks, the price of oil continued its weeklong slide on Monday, taking with it many of Norway’s oil-focused stocks.A large swathe of listed offshore suppliers and energy companies took a pounding…

Fieldwood Optimistic About Gulf of Mexico

Nov 23, 2018

Just a few short years ago, few had heard of Fieldwood Energy. In five short years, the privately-held company purchased properties and assets when Apache, SandRidge and Noble Energy exited the area.Now, Fieldwood says it is the largest leaseholder in the Gulf of Mexico…

Leak-free ROV Tooling for Deepwater Operations

Nov 21, 2018

As the Brazilian oil and gas market emerges from a four year crisis, with expanded oil block tenders including the high quality/high yield pre-salt plays desired by most major IOCs, new subsea solutions are required to increase operational efficiency while decreasing costs…

Harnessing Digital Information to Power Costs Savings

Nov 16, 2018

The high cost of producing offshore reserves is increasingly driving operators to seek out efficiencies, such as doing more with the data they collect.“A lot of people reconsidered how to handle offshore when the downturn came,” Nate Clark, principal at Deloitte Consulting…

Mubadala Picks Up Second Deal in Offshore Egypt

Nov 15, 2018

The Abu Dhabi-based international oil and gas company Mubadala Petroleum has scored a second win in its drive to entrench its upstream investments in Egypt after signing a sale agreement with Italian giant Eni for a 20 percent stake in the Nour North Sinai Offshore Area concession…

'Recovery' Led by OSVs with Engineers On Board

Nov 14, 2018

A report back in 2014 from numbers crunchers Rystad Energy — about the timing of an upturn for subsea engineering — appears to be proving largely true. Recovery, it said, would begin haltingly in two parts: first subsea services and then subsea equipment…

Mero Field: Ultra-Deepwater Challenges

Nov 13, 2018

A range of cutting-edge technologies, including specialized drilling equipment, custom subsea systems and purpose built floating production storage and offloading (FPSO) units, help Brazilian national operator Petrobras and its partners tackle…

Supply Chain in Recovery Mode

Nov 09, 2018

While the offshore industry is showing signs of recovery, it may still be some time before the supply chain starts to feel a sense of relief.“The offshore and deepwater are coming back,” said Caitlin Shaw, director of upstream supply chain research at Wood Mackenzie…

Optimistic Tower Resources Returns to Namibia

Nov 08, 2018

Three years after Tower Resources and its partners relinquished their assets in Namibia, the company has returned after signing a new Petroleum Agreement it previously promised shareholders and which gives it an 80 percent operated interest…

Decommissioning Gets into Deep Water in GoM

Nov 08, 2018

LOC Group’s Houston office provides perspective on decommissioning developments in the Gulf of Mexico.The Gulf of Mexico basin covers approximately 1.6 million km2 and is one of the most important petroleum production regions in the world. A…

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