The direction of travel appears clear; around a quarter of the current offshore floater rig fleet - ships and semi-submersibles - will be sent to the scrapyard near-term.
With Brent blend knocking around $70 a barrel, the sector is becoming cautiously optimistic about the North Sea’s future.
I’m trying to fathom out what the changes to low carbon subsidies sneaked into the Tories’ latest UK Budget really means.
That fact Airbus Helicopters’ chief executive Guillaume Faury flew in a Super Puma H225 aircraft to Helitech International 2017 in London a few days ago did not escape my attention.
A remarkable “energy” fibre capable of generating electricity when stretched or twisted has been developed by US and South Korean energy researchers.
WorleyParsons of Australia is acquiring the UK business of Amec Foster Wheeler in a deal worth £228million.
Much has been said and written about the low carbon transport revolution that is currently taking off and the implications for the oil and gas industry.
I rather think that Offshore Europe last week was good for the Oil & Gas Technology Centre Initiative and its CEO Colette Cohen. Given its scale, I certain that the OGTC eclipsed the UK North Sea’s other technology-related initiatives.
“Demand for oil will peak in 2022, driven by expectations for a surge in prominence of light electric vehicles, accounting for 50% of new car sales globally by 2035.”
Here we go again ... it’s Offshore Europe again, traditionally a time of traffic mayhem and hospitality greed in the Granite City as hotel and restaurant vultures cash in on gullible delegates.
Shares in explorer Premier Oil rocketed by almost a third mid-July after the company said it had made a world-class oil discovery offshore Mexico.