OTC 2016: Operators squeezing service sector harder than ever, it’s squealing back
Operators are squeezing the service sector as hard as they ever have and it's starting to squeal back, according to company leaders.
OTC
OTC 2016: Aberdeen firm RDT invests in Houston
Third-time OTC exhibitor Reactive Downhole Tools (RDT), of Aberdeen, has beefed up its management team by appointing someone to head up business development in North America.
OTC2016: Tax trouble ahead for cash-hit oil companies
The new international tax regime being adopted across the world presents a serious risk to the regeneration of the oil and gas sector, specialists have warned.
OTC 2016: The days of spending profits on handbags and fast cars are over
The days of the industry spending profits on handbags and fast cars are over, according to the executive chairman of OES Oilfield Services Group.
OTC 2016: North Sea strain forcing US gains
Continued instability in the North Sea is prompting a new generation of oilfield services companies to look towards expansion into the US as a means of securing new business and attracting investment.
OTC Video: Doorway open to harnessing wind to power offshore water injection
A joint industry project led by DNV GL has come to the view that wind-powered water injection is a viable alternative to conventional, energy intensive systems offshore.
OTC2016: Hot work for Petrohab
A Texas provider of hot work safety enclosures has unveiled a new modular system designed and manufactured in Dundee, Scotland.
OTC 2016: Expro completes Gulf plug and abandonment project for Apache
Oilfield services specialist Expro has completed a plug and abandonment (P&A) project in the Gulf of Mexico (GoM) for Apache.
Sub $50: Sir Ian Wood – The worst of the oil price is over
The worst of the oil price rollercoaster is over, according to industry leader Sir Ian Wood.
OTC 2016: Pool party guests enjoy Houston hospitality
The world's biggest oil and gas show opened in Houston yesterday, with as many as 100,000 delegates attending. Energy Voice and the Press and Journal are there to cover the event, but before the business began, there was time on Sunday for good music, good food and a few drinks at the P&J pool party. We had a photographer on hand to mark the occasion.
OTC 2016: Tech Tuesday – Building the Google of the supply chain
Steven Calder is standing in a Spanish promenade when he taps in ‘best tapas bars’ into his iPhone. Seconds later he’s staring at a selection of the most highly lauded pit stops in a five mile radius.
OTC 2016: Craig International launches new spare equipment trading platform
Global oilfield procurement firm Craig International is today launching a new online platform to help companies buy and sell spare equipment at knock-down prices. Craig International, part of Aberdeen-headquartered energy service and shipping business Craig Group, said oil and gas companies have billions of pounds worth of stock gathering dust and racking up storage costs in warehouses. At the same time, companies are needlessly buying new equipment when it would be cheaper and more efficient to purchase used gear from their counterparts.
OTC 2016: North Sea operating costs must be sub-$20/bb
North Sea operating costs must be get below $20 per barrel for the sector to survive its latest downcycle, according to new research.
OTC 2016: Middle East and renewables critical to sector recovery
The Middle East and sector diversification are the industry’s answer to weathering the oil price storm, according to new research.
OTC 2016: Scots ‘back deck’ firm chooses Houston
Subsea “back deck” solutions company Maritime Developments (MDL) has established a subsidiary in Houston following growing success winning business with companies working both the US domestic and wider international upstream markets. This is seen as a springboard both into US and global offshore opportunities perhaps more easily accessed and bid from the world’s oil & gas capital than Europe.
OTC 2016: Sellers, don’t devalue your stock
Given the devastating effects of the worst downturn in the energy sector since 1986, it is no surprise that fewer people are on the shuttle from Aberdeen to Houston for OTC 2016.
OTC 2016: Industry giants call bottom of the market
As the oil price rally paused for breath yesterday, industry specialists are claiming that the market has bottomed out.
OTC 2016: BP- ‘It’s not lower forever’
BP said its coined "lower for longer" downturn theme did not mean it believed it would be "lower forever".
OTC 2016: 80:20 wins £25million in North Sea work, opens Houston base
80:20 has landed £25million in North Sea contracts.
OTC 2016: Cyberhawk expands in US oil and gas sector
Scottish drone technology specialist Cyberhawk Innovations is using its oil and gas unmanned aerial vehicle (UAV) experience to underpin the launch of its new Houston office.
OTC 2016: Lines between renewables and upstream will blur
The lines between renewables and upstream technology will begin to blur as the industry works to combat Brent benchmarks, according to JDR's chief technology officer.
OTC 2016: Tata pipeline achieves industry first in Gulf of Mexico
A steel pipeline developed in the UK has achieved an industry first by becoming the deepest to be laid in the Mexican section of the Gulf of Mexico.
OTC 2016: Balmoral investing £20m in ultra-deepwater trialling centre
At a time when much of the oil & gas industry is slashing costs, Aberdeen’s Balmoral Group is investing £20million in an ultra-deepwater test facility.
OTC 2016: ‘Diversification is about saving jobs, it’s about saving communities’
As Aberdeen battles its latest oil price storm, 4,500 miles away a US town is caught up in the same headwinds, but this time with a much steadier oar.
OTC 2016: Weir, Rolls-Royce launch new company
Weir Oil & Gas has joined forces with Rolls-Royce to launch a new firm dubbed EPIX.