Tributes have been paid to John Westwood, founder of the namesake energy market analytics firm, who has died aged 76.
Energy industry analyst Andrew Reid said he was leaving consultancy Westwood Global Energy Group (WGEG) in “exceptionally good shape” after confirming his time as chief executive had ended.
The newly formed Wood has shrunk its debt pile to £1.8billion in the wake of the Amec Foster Wheeler takeover, its pre-closing statement revealed today.
About 200 more new jobs are being created in the UK North Sea in the latest in a string of morale boosting developments in the offshore oil and gas industry.
An Aberdeen-based group of energy consultancy firms has kicked off its expansion drive with the acquisition of a US firm.
A platform maintenance backlog will “catch up” with North Sea operators, ushering in a first peak in decommissioning work, analysts have said.
A group of energy research and consulting companies that includes Douglas Westwood has been renamed and reorganised.
A combination of low oil prices and a drop off in platform installations is contributing to a troublesome outlook for heavy lift vessel (HLV) contractors, an analyst has said.
North Sea industry may find that it is ill-equipped to capitalise on rising oil prices following two years of stripping out costs.
Spending on offshore oil and gas will drop in Western Europe over the next few years despite forecasts of more stable crude prices, new research shows.
Offshore wind construction activity has surged in recent years with the trend likely to continue as industry's engineering projects increase to €286billion between next year and 2025.
The preliminary announcement by OPEC of a deal to cap production between 32.5 and 33 million barrels per day has given a welcome shot in the arm to the upstream market. While the specifics will be announced by OPEC at their November meeting in Vienna, on the face of it, it’s a hugely positive signal for the sector and points to a near term turn in the market.
This morning the UK woke up to the news that it is to leave the EU, as 52% majority supported the leave campaign.
A leading oil and gas expert said an Initial Public Offering (IPO) by Saudi Aramco could potentially be the largest on record.
On Friday, OPEC concluded its 168th Meeting of the Oil Production and Exporting Countries Conference, with members agreeing to effectively abandon the 30 million barrel per day (mmbbl/d) production limit which has been in place since 2011. Brent crude, the international standard benchmark, fell some 3.23% on Monday to the lowest front month futures price since late 2008.
Douglas-Westwood and Hannon Westwood have united as part of the ESIA group of companies.
Established oil and gas investors have long been aware that in this market you need to take a ‘through-cycle’ strategy, managing the up cycle in the knowledge that tougher times are always on the horizon. The execution of the strategy in down cycle, organic or inorganic, can play a decisive role in determining the winners when the market recovers. And the market will recover.
Energy Voice brought together an expert panel and an informed audience for Energy 2050 - Securing Our Future, offering a unique insight into where the oil and gas industry is headed in coming years.
Energy analysts Douglas Westwood have forecast the market for the operation of work-class ROVs to total more than $14billion from now until 2019. The findings represent a 19% increase on the previous five-year period. However the findings revealed some difficult conditions in the near-term market with weaker dayrates and lower levels of utilisation.
As the balloon bursts in Brazil and the party is over a lot of companies will be hit.