Collaboration in the North Sea “has gone backwards” as companies squeeze suppliers in an effort to control costs.
The winds are changing and blades in motion as offshore wind becomes the next economic and environmentally sound option for oil and gas companies to diversify into.
The rapid transition under way in energy means that now more than ever the sector must grasp the opportunities presented by technology.
The future growth scenario for renewables is very clear. Renewable energy generation is entering a period of rapid expansion as overall energy use rises, as does our need to increase low-carbon energy sources.
Without a doubt, it’s been a hard year for the oil and gas industry. We have seen the first ever negative oil price, when on April 20, WTI plummeted to -$37 per barrel. At one point, the North Sea’s workforce fell by 40%, with more than 4,000 crew stood down due to the impact of Covid-19.
As we leap into 2020, a number of key trends are likely to dominate the oil & gas sector.
As global economies transition away from fossil fuels towards more sustainable energy sources, the shutting down of oil and gas operations presents a huge decommissioning challenge.
The great white shark must keep moving or else it dies. It has to keep oxygen-rich water constantly flowing through its lungs.
Large oil and gas companies around the world are failing to take basic steps to protect themselves from the financial failure of their suppliers at a time of ruthless cost-cutting, a new survey shows.