Oil and gas industry sentiment in the UK plunged dramatically in Q4 2014, according to the results of a survey published today. Oil & Gas UK’s Business Sentiment Survey says optimism in the oil and gas industry fell 16 points to -23 points on a -50/+50 scale…
Over supply of oil, diminishing returns and an increasing rig fleet will challenge rig operators in 2015. Rystad Energy’s Joachim Bjørni and Oddmund Føre look for a ray of light. Graphs from Rystad. Throughout 2014…
Orderbooks reflect reined-in spending based on conservative near-term oil price estimates. ABS’ James Graf sets out the detail. MODU new construction projects through 4Q/14. Source: ABS. Weak demand…
EMAS AMC's flagship ice-classed, DP3 multi-lay construction vessel Lewek Constellation is on track to turn fully operational by March 2015. The vessel, which has heavy lift capabilities, has already secured a backlog of nearly US$0.5 billion…
Trelleborg Sealing Solutions’ (Trelleborg) new website, the Knowledge Center, will showcase best practice in sealing technology and aim to bridge the gap between design engineers’ needs and standard technology documentation, bringing useful information together as part of one digital portal…
New York-headquartered Hess says it is cutting its 2015 capital and exploration budget by 16%, compared to 2014, to US$4.7 billion. While the firm said most of the cash (45%/$2.1 billion) would be spent on its unconventional shale resources…
Super major Shell is curtailing its spending by more than US$15 billion over the next three years and has futher options to reduce spending, the supermajor announced this morning, citing the dramatic, nearly 60% drop in oil prices over the past six months…
Independent oil firm Premier Oil is sticking to an eight-well exploration campaign in 2015, including its four-well campaign in the Falkland Islands, due to start in March, and its first well in the emerging Mandal High play offshore Norway…
Danish engineering house Ramboll Oil & Gas is to perform detailed design work for the two jackets for Maersk Oil's ultra-high-pressure, high-temperature (HPHT) UK North Sea Culzean field. The jackets are for a central processing facility…
US$75-80 barrel oil price will be the new norm, industry commentators predicted Tuesday morning. But how long it will take to get there is the greatest uncertainty. Elaine Maslin reports. Uncertainty around how long oil prices will remain around US$50/bbl and…
A new oilfield consultancy has been launched by GE Oil & Gas and McDermott International to “transform the development of front-end solutions for offshore fields.” Io oil & gas consulting, deliberately spelled without capital letters by the firms…
BPZ Energy spudded a new well in the Albacora development well, offshore Peru. Map of Block Z-1. From BPZ. Well A-22D was spudded on 10 January due to positive results from Albacora well A-27D…
With Mexican oil open to private investment for the first time, the country’s initial bidding round is expected to remain competitive despite low oil prices, delays and a number of uncertainties, according to research and consulting firm GlobalData…
Companies in the deepwater drilling market have lost more than half of their value over the last year; Transocean, Seadrill, ENSCO and Diamond Offshore are currently priced 56% lower on average compared to January 2014 in line with the decrease in oil prices…
Deloitte’s Petroleum Services Group’s latest North West Europe Review has revealed a drop in drilling, deals and new field start-ups in 2014. Deloitte says the drop in drilling was consistent with expectations, given recent trends and market conditions…
Subscribe
