The emergence of unconventional gas over the past few years has transformed the global energy market. Breakthrough technology has enabled key producers, especially in the US to supply the global market with shale gas, reshaping the energy landscape in its wake. Since this revolutionary technology was brought to market, companies have looked to deploy it in many markets as part of a global shift to a low carbon, energy secure future.
A second meeting has been pencilled in by the kingdom, Russia, Venezuela, Qatar and an unspecified group of oil producers (OPEC and non-OPEC) to talk again about the proposed output freeze, according to Nigerian petroleum minister Emmanuel Kachikwu. But no-one should read this as a sudden outbreak of altruism in Riyadh.
The Japanese solar market has grown significantly in the past few years as it races to meet the government’s goal of achieving 53 GW of solar PV capacity by 2030.
With oil prices at historic lows, the impact on Gulf economies will be significant. Karim Nassif, Associate Director at Standard & Poor’s, argues that financing will have to adapt to meet the demand for infrastructure – and that renewable energy stands to benefit.
Where do efficiency savings and productivity gains come from when the obvious wastage is eliminated? When the headcount requires no more than a couple hands and a foot? That’s the question facing many of us now as the black expanse of $30 oil spreads out before us.
We all know the tough times facing the north-east. The continuing slump in the oil price is presenting this area with perhaps its biggest challenge since drilling began 40 years ago.
The truth is that we are at a crossroads, and I think it can now go one of two ways.
None of the 13 members of OPEC want the oil price to continue at its current level for longer than is necessary. For some OPEC members, the situation is becoming critical. Even Saudi Arabia, whose lifting costs are well below the current price, is running a budget deficit and taking action to reduce the rate at which it is using up its foreign currency reserves.
The publishing of gender pay gaps by employers has been expected, although the prospect of sector-based league tables has come as more of a surprise. Now the pressure is on businesses to get their act together and meet this challenge head on.
The global energy agenda is moving quickly, and COP 21 last year was evidence that real progress can be made within the industry, with all countries pledging to pursue measures to keep the earth’s temperature rise below two degrees. Looking forward to the World Energy Congress in October this year, discussions to ensure long term energy equity, sustainability and security for the future will be vital to support the future development and innovation across the globe. In the margins of the Congress, a special session dedicated for the discussion of the future of e-storage is being planned with the attendance of sector leading tech companies.
Sometimes MSPs have to keep asking the same question, and I’ve long since lost count of the number of times I’ve asked how many jobs have been lost In Scotland since the oil jobs crisis began over a year ago.
Yet again, oil and gas job losses are hitting the headlines, with BP being the first major UK player this year to announce thousands of redundancies, hot on the heels of the biggest job losses experienced in the sector for decades throughout 2015.
As Scotland’s oil and gas sector faces the difficult road ahead, a refresh of the Industry Leadership Group (ILG) strategy gives us renewed hope and focus for the future.
Fracking continues to divide opinion in the UK with recent figures published by the Department of Energy & Climate Change suggesting that, among those people who claim they know a lot about fracking, 53% of them are definite in their opposition to the controversial process, while 33% actively support it.
Innovation has always been key to the oil & gas industry and recent years have seen some exciting developments, particularly in subsea technology.
For example, autonomous underwater vehicles (AUVs) . . . independent robotic, programmable vehicles . . . have highly advanced capabilities so they may be more cost effective than alternatives, or allow access to previously unreachable areas.
Our national broadcaster ran a headline recently that said “UK car manufacturing hits 10-year high in 2015”. Other outlets said similar things and one included some comment about the fact that Jaguar Land Rover was now outperforming Nissan.
The announcement last week that £504million of public sector money will be invested in support of the Aberdeen City Region Deal is very welcome news for the north-east of Scotland.
The oil price collapse is dominating the current news cycle, with Brent dropping below $28 a barrel for the first time in over 12 years.
This continuous dramatic fall spanning 18 months has raised concerns over the future development of many offshore oil & gas fields.
Much of this issue is given over to subsea oil & gas and the crisis that it faces.
As the big subsea contractors watch their backlogs shrink and doubtless cringe at the thought of taking delivery of the next seagoing “Swiss Army Knife” ordered during the boom and as firms further down the food chain wonder if they’ll still be in business three . . . six months from now, necessity becomes the mother of invention.
In a law case from 1884 − Regina v. Dudley and Stephens − the accused were found guilty of murdering their ship mate Richard Parker in a lifeboat.
It was decided by five judges in the Royal Courts of Justice in London, “that one must not kill one`s shipmate in order to eat them no matter how hungry one might be”.
It may come as a surprise that right up until 1884 stories of cannibalism in lifeboats were not uncommon. The drawing of lots was often used to decide matters − noble sacrifice or murder, either way there was a level of consent to the unfortunates’ departure. By now many will have seen the feature film “In the Heart of the Sea” about the fate of the survivors of the Essex, a Nantucket whaling ship lost in 1820.