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, but that fact belies the potential for North Sea and Gulf oilfield service companies, as well as firms from associated industries, to steal a march on their competitors and secure new opportunities.
Maxwell Drummond International (MDI) has cancelled an event at the annual Offshore Technology Conference (OTC) in Houston after it entered administration last month.
Take Energy Voice's survey and be in with a chance to win a luxury, champagne break for two at the Macdonald Norwood Hotel.
Take Energy Voice's survey and be in with a chance to win a luxury, champagne break for two at the Macdonald Norwood Hotel.
Wood Group today confirmed it would join Energy Voice’s OTC panel debate on the future of the industry.
Take Energy Voice's survey and be in with a chance to win a luxury, champagne break for two at the Macdonald Norwood Hotel.
Take Energy Voice's survey and be in with a chance to win a luxury, champagne break for two at the Macdonald Norwood Hotel.
The sector's most enduring theme is its ability to "make the most" of a crisis, according to a leading law firm.
Energy Voice has launched its latest sector research campaign aimed at uncovering upstream offshore oil & gas industry opportunities in a low oil price environment.
Aberdeen company Munro's Travel is urging Scottish firms to move fast if they want to secure their place at the world’s biggest oil and gas show.
Energy Voice has launched its latest sector research campaign aimed at uncovering industry opportunities in a low oil price environment.
British Consul Karen Bell said there is "massive opportunity" for companies to take advantage of the lower oil price and bid for new business with firms.
Energy Voice has launched its latest sector research campaign aimed at uncovering opportunities in a low oil price environment.
The Houston real estate market has seen a decrease in ex-pats looking to enter the rental market in Texas, according to a leading realtor.
Energy Voice has launched its latest sector research campaign aimed at uncovering industry opportunities in a low oil price environment.
The oil and gas industry could save itself millions of pounds by migrating IT services to the cloud - and the TalkTalk factor may have helped focus the minds of senior executives about just how safe their own systems are from cyber attack.
Energy Voice has launched its latest sector research campaign aimed at uncovering industry opportunities in a low oil price environment.
OTC 2016 takes place in Houston from May 2-5 against one of the toughest periods facing the energy sector in a generation.
Energy travel specialist Munro’s has reported positive interest from UK companies keen to attend the world’s top oil show this year in Texas.
Firms which flew the flag for Scotland at the world’s biggest oil and gas show are already reaping the rewards of taking part in the event. Early feedback from 12 of the 58 companies supported by Scottish Enterprise (SE) to attend the Offshore Technology Conference (OTC) in Houston in the US earlier this month shows they expect to increase their international exports by £50million over the next three years as a direct result. Contracts were signed during the week for projects in the Gulf of Mexico and Brazil, while some of the firms received invitations to tender for other work around the world.
A robust exhibition for the oil and gas industry in Houston saw firms from across the world actively seeking solutions that will cut costs in the face of the oil price crash. The Offshore Technology Conference (OTC) – the world’s biggest oil and gas show – drew to a close yesterday, with several north-east firms having attended and a number coming away with promising business leads. With nervousness about the effect of oil prices remaining low pervading proceedings, most firms pitched up to NRG Park to show off technologies and services that would make subsea oil exploration cheaper. Derek Smith, chief executive of Maritime Developments, came out a few days before the show started on Monday.
Watch the video and hear what the #OG2050 panel found most surprising about Energy Voice’s Energy 2050 – Securing our future results. Read more here.
Life might be tough in the oil & gas industry right now, but the chief upstream strategist at oilfield analysts IHS told OTC delegates at an OTC gathering that a staggering amount of new oil production was needed to meet forecast demand. Bob Fryklund said that 50million barrels per day of additional production would be needed to meet projected demand by 2040 ... that’s about 55% more than today. He said that it was possible to see about 20million barrels per day of that figure; after that it became more difficult to identify how the gap would be filled.
The oil industry must leverage the sector’s current down cycle if it wants to give itself a fighting chance for the future, industry leaders said at standout event at this year’s OTC.
It’s understandable, following a 50% drop in the price of oil between June last year and March 2015, that participants of Energy Voice’s ‘Energy 2050 – Securing Our Energy Future’ survey, expressed the ‘need to slash costs’ as the number one challenge for the oil and gas industry right now.