Today’s oil and gas environment has been impacted by a myriad of issues including restrained capital spending, curtailed investment and employment cuts for struggling companies across the supply chain. Recovery from current market conditions is expected to be slow…
Trelleborg Sealing Solutions is launching a new online resource for engineers at an international conference next month as part of its “commitment” to the oil and gas industry. The website – ‘oilandgas-seals.com’ provides a comprehensive…
MultiClient Geophysical (MCG) has entered into an agreement with Polaris E&E Services to acquire their Post Stack Reprocessed Atlantic Margin seismic 2D data. MCG will pay Polaris for this transaction through revenue share of futures sales…
Oil and gas operators will have to approach the challenge of decommissioning in new ways if the goal of maximizing economic recovery from the UK Continental Shelf (UKCS) is to be achieved, according to a report from professional services firm KPMG…
The Yolla-6 development well at the BassGas project offshore Australia has been successfully tied-in to export facilities on the Yolla platform and production from that well has commenced, according to partner AWE Ltd. Image from Origin…
Origin Energy is entering a deal to sell 53% stake of its New Zealand subsidiary Contact Energy for approximately US$3.06 ($4.65 NZD) per share in an attempt to reduce the company’s debt and costs. Image of BassGas…
Oil major Shell today said the oil price downturn could last for several years, as it revealed 6500 expected staff and contractor reductions in 2015, as well as further capital and operational spending cuts. “Operating costs are expected to fall by over $4 billion…
Global upstream oil and gas deal activity, including capital markets and mergers and acquisitions (M&A), totaled US$19.3 billion from 125 transactions in June 2015, marking a $4.3 billion decrease in value from the $23.6 billion across 119 deals posted in May 2015…
Chevron’s results for 2Q 2015 show the company in a drastic drop of nearly 90% compared to last year, from substantial impairments that have lead the company to implement multiple efforts to improve future earnings and cash flows. Image…
While at first the oil price seemed to spur a rash of big M&A deals in 2014 and early 2015, analysts at GlobalData and IHS say the market could slow if the oil price doesn’t increase. Jeannie Stell reports. Image from Baker Hughes…
West Texas Intermediate crude (WTI) fell below US$50/bbl, to $49.93/bbl, on 20 July for the first time since April, despite reports that Saudi Arabian exports have fallen to their lowest in five months. According to statistics published by the Energy Information Agency (EIA)…
Despite over 37 billion bbl remaining in proven reserves, oil production in Nigeria is forecast to falter due to underinvestment, with the country’s oil and gas sector in desperate need of reforms and transparency to reverse this trend, according…
Wood Mackenzie has evaluated the competitive position of the three largest Russian oil and gas producers at US$60/bbl oil and their strategic action taken to date. In 2014, the Russian majors' share price performance was hit harder by…
Watch this video, developed in house by Oilennium’s team of creative animators and media experts to demonstrate our capabilities and extensive range of cost effective online training products designed specifically for the Oil and Gas industry…
As strained negotiations between the Greek government and European financial ministers enter the end-game, the impact on energy markets remains uncertain. Setting aside both the deeply troubling social impact for Greek citizens and other…
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