The downturn in subsea shipping activity provides the ideal opportunity for North Sea operators to fix the roof while the sun is shining, according to analysts.
They have sold off hundreds of oil fields, eliminated thousands of jobs and slashed millions of dollars from capital spending and dividends.
The $64 billion tie-up of Shell with BG Group and the steady growth of Exxon Mobil re creating a new league of two: the ultramajors.
The world’s most powerful oilman brought a harsh message to Houston for executives hoping for a rescue from low prices: high-cost producers - many of them sitting in the room - need to either “lower costs, borrow cash or liquidate."
So what do 2,800 or so of the world’s elite energy minds talk about when they gather at Houston’s IHS CERAWeek energy conference? Here’s a taste of what we heard on Monday.
International analyst IHS has agreed to buy US-based Oil Price Information Service (OPIS) for $650 million to add real-time pricing information to its energy analytics business.
Oil and gas producers should see an increase in deals this year as cheap crude prices and limited funding options force debt-saddled energy companies to sell assets, according to consultant IHS.