Oil prices are set to rise on average US$10/bbl annually towards 2020, with global liquids supply and demand balancing out in around two years, according to Oslo-headquartered oil and gas consulting and business intelligence firm Rystad Energy…
Brazil has big plans as it sets its sight on increasing oil exports – but it will need investment in technology as it moves into ever deeper waters. Elaine Maslin reports from Subsea Expo. Various vessels await deployment in Guanabara Bay near Niterói…
The oil and gas industry is responding to the low oil price environment with exploration budget cuts in 2015 which will average 30%, leading to suggestions that exploration activity could be significantly curtailed. However in an effort to drive value…
The oil and gas industry can deal with low oil prices, up to a point, by making itself more efficient. In contrast, there is little it can do about geopolitics and one of the places that is most evident is the Mediterranean. The region has long been home to oil and gas production…
The MacArtney Group is premiering its latest feats of innovation and system development within the realm of underwater technology with the brand new NEXUS MK VII multiplexer. The group says that the NEXUS MK VII is a highly versatile HD and standard video…
LR Senergy and EnergyOne formed a strategic alliance to support business development in Norway and internationally. LR Senergy’s Norway business, Senergy, has been acquired through a management buy-out and will now trade under the company name of EnergyOne AS…
Russian oil exploration giant Rosneft sent a cancellation notice to North Atlantic Drilling Company Ltd. (NADL) to terminate its contract for the Energy Endeavor jackup. The Energy Endeavor. From Northern Offshore…
National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement in advance of tomorrow’s Gulf of Mexico offshore oil and gas lease sale: 'This sale will be interesting due to low oil prices, which just dropped further this week…
For the 2014 financial year, VIKING Life-Saving Equipment A/S has again managed to lift both its top and bottom line to record levels. Turnover grew 7% to US$250 million, and pre-tax profits reached $26.5 million – an increase of 30%. VIKING’s…
A total of 42 offshore companies showed up to the Central Gulf of Mexico (GoM) Lease Sale 235 that drew in more than US$538 million in high bids for exploration and development in the area. Gulf of Mexico map…
Following up on last week's article on companies bracing for bankruptcies within the oil and gas industry, OE's Managing Editor Audrey Leon spoke with Charles Kelley and Robert Gray, Houston-based attorneys with law firm Mayer Brown to discuss the downturn in oil prices…
Rosneft sent North Atlantic Drilling Ltd. (NADL) a notice of termination for the West Navigator, in connection with a framework agreement between the two companies. The West Navigator. From NADL. The…
Newcaslte, England-based valve manufacturer BEL Valves is looking to set up a new £10 million subsea engineering facility for Newcastle’s Quayside. Plans for the 20,000sq ft Neptune Test Centre on the now derelict Spillers Tyne Mill site…
Cairn Energy is planning an up to six-well exploration campaign offshore Senegal, starting this year, after making potentially the largest global oil discovery in the country's waters last year. Image from Cairn…
An American data analytics and risk assessment firm based in Jersey City has bought Edinburgh, UK-based energy and mining industry analyst Wood Mackenzie. Verisk Analytics has agreed to buy the firm for US$2.8 billion from owners Hellman & Friedman and other Wood Mackenzie shareholders…
Subscribe
