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Oil & Gas

Fasten seatbelts for a roller-coaster of a year

Welcome to 2009 - a guaranteed roller-coaster of a year, of that one can be sure. It will be a case of fasten seatbelts and prepare for a rattling. I regularly harp on about Opec and the criticality of its decisions to the non-Opec community, of which the North Sea is clearly a member. Well, in recent weeks, Opec decided to make two major output cuts.

Oil & Gas

Pirates – not just of the Caribbean

The hijack of the Saudi-registered supertanker, Sirius Star and the taking captive of its crew, including a Scot, brought the issue of piracy to the fore, highlighting to those for whom such an issue is not an everyday concern that the scourge of piracy is not just a historical threat, but a very real one, alive and thriving today.

Oil & Gas

Firm hand on helm at subsea firm

The Europe and Canada head of one of the world's top subsea contractors believes the offshore industry will successfully weather the credit-crunch storm as oil fundamentals are in its favour, even though global demand for this critical commodity is plummeting.