Industry cost-cutting and job cuts will get worse before it gets better, industry leaders told a business seminar in Aberdeen on 3 March. But, despite the gloom, they also said that the industry also needed to send out a more positive message…
From 2011 to 2014, we observed the largest oil supply shock in history: US shale oil production was adding more than 1 MMbbl/d every year, or more than the growth of global demand for oil. OPEC faced a risk of critical reduction in market share…
With oil prices plummeting to a five year low, and project cut backs likely in 2015, short-term funding for US shale may lose out to the country’s higher cost deepwater developments, the latest article by leading petroleum industry advisor Gaffney…
Benchmark Brent crude plunged to a four-year low, below US$73 a barrel, yesterday (27 November) after oil cartel OPEC chose to leave its 30MMbbl/d output target unchanged at its latest meeting in Vienna. The move, led by Saudi Arabia…
Norway's Cubility has appointed Jose Limia as the company’s regional manager for North America. Limia’s role will be to grow sales of the MudCube technology across the North American market, with specific emphasis on offshore drilling operations in the Gulf of Mexico…
Paradigm announced the release of the latest version of its Geolog formation evaluation and petrophysics analysis solution suite. The release includes a plug-in that enables direct data transfer from Geolog to Petrel seismic to simulation software…
In offshore application, the workers’ lives and the asset’s integrity can all come down to the tiny sensors within a gas detector. City Technology’s John Warburton discusses why gas sensors are…
FTS International, based in Ft. Worth, Texas, announced today that it has signed a 15-year joint venture agreement with Sinopec Group to bring its well stimulation capabilities and expertise to China. Hydraulic fracturing is recognized as one of the keys to unlocking production in shales…
Western Europe will continue to rely on imported Russian gas into the 2020s, as mature offshore provinces struggle for growth, while large-scale shale gas extraction looks increasingly unlikely in the medium term. Following Moscow’s intervention…
Norwegian oil services technology firm Cubility AS has been bought from private equity firm Energy Ventures by a Triton Partners fund. The firm, based in Sandnes, has developed MudCube, a solids control and waste management system for drilling operations…
According to a new technical market research report, The US market for Fracking Fluids, prepared by Dr. Gordon Nangmenyi for BCC Research, the US market for fracking fluids was valued at US$18.4 billion in 2012 and $26 billion for 2013. BCC Research projects the market to grow to nearly $37…
Canadian LNG update from Norway's Rystad Energy AS: As of November 2013, there were no approved liquified natural gas export terminals in Canada. There are three proposed projects: Kitimat – Apache, Douglas Island, and Kitimat – LNG Canada…
Forces transforming the global energy industry are presenting both opportunities and challenges for Russia, according to senior government and industry figures at the World Energy Congress in Korea. Alexander Novak, Minister of Energy…
Shell and Baker Hughes have signed a software license and joint development agreement to produce a high-end platform for geological and reservoir modeling using Baker Hughes’ JewelEarth software. Shell says the new platform will bring enhanced…
BP chief economist Christof Ruehl said the US will become energy independent, due to unconventionals, by 2030, in yesterday’s [Thursday] lunch, Energy Markets – the Short and Long Term. Ruehl said unconventionals (tight oil and shale…
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