A Brent crude price pushing $70 will provide a “feel-good” factor for North Sea oil, but it may still be “too early to celebrate”, industry experts have said.
Paul de Leeuw
The Forties pipeline shutdown will cause pain for oil producers, but consumers will still get their oil and gas, industry experts said yesterday.
Oil and Gas UK (OGUK) has warned North Sea industry against complacency after a new report heralded the end of the downturn.
The oil and gas industry needs to put itself “on steroids” to make sure it capitalises fully on the fledgling North Sea recovery, a senior figure has said.
An industry expert has said renewed enthusiasm for competing in licensing rounds is “great to see” ahead of crucial, upcoming North Sea auctions.
Today, Baker Hughes GE (BHGE) will emerge as the new kid on the block on the New York Stock Exchange (NYSE), signalling the formal merger of Baker Hughes and GE Oil and Gas. This new company packs a real punch with around 70,000 employees in over 120 countries and annual revenues of US$23 billion in 2016.
The UK offshore oil and gas sector will reach its 80% production efficiency target for 2018 if it “just sticks to the plan”, industry experts said yesterday.
An oil industry veteran has said the general election result was likely to create "significant uncertainty" at a time when the North Sea needs stability.
An academic has warned that UK oil and gas companies risk could miss the opportunity to lead innovation in the sector, if they fail to prepare staff for new technology.
Oil nation’s efforts to re-balance the market via a deal on production cuts have worked, industry experts said, adding that extending the agreement is the right move.
Major hurdles to overcome before ‘flammable ice’ can replace traditional oil and gas, academic claims
Major obstacles stand in the way of ‘combustible ice’ becoming the new black gold, according to a leading industry academic.
An oil industry veteran said it was good news that the UK Government has acknowledged the current decommissioning tax system isn't working for North Sea industry.
An oil industry veteran said he hoped Opec's agreement on output would boost confidence among oil companies and attract more investment.
An oil and gas industry veteran yesterday warned that 2017 would be another washout for North Sea drilling unless investment is secured quickly.
An oil industry leader has said Scottish Government plans to funnel jobless oil and gas workers into teaching could be “very valuable”.
Determined to help their peers and in partnership with their university, RGU’s Alumni Council, made up of RGU graduate volunteers, is organising a 'free-of-charge' event for all RGU alumni and/or family members of alumni who have been made redundant or are at risk of redundancy.
The UK North Sea has the chance to become a world leader in decommissioning practice, according to a leading industry figure.
Leading industry figure Professor Paul de Leeuw will be keynote speaker this year's Decom Offshore event taking place in Aberdeen next month.
Energy Voice has launched its latest sector research campaign aimed at uncovering opportunities in a low oil price environment.
Who would have thought in the summer of 2014 that the industry would long for the oil price to recover to $61 per barrel?
Professor Paul de Leeuw, director of Robert Gordon University’s Oil and Gas Institute said the North Sea industry will endure a period of short term pain before it could emerge leaner, fitter and better able to compete as the oil price recovers in years to come.
The premier league of global E&P has changed dramatically with the USA overtaking both Saudi Arabia and Russia to become the world's largest oil and gas producer in 2014. The last time the USA was the world’s largest oil producer was in 1975. The impact of this change will no doubt have profound implications in geopolitical terms. So what about the UK’s position in the elite oil and gas premier league? According to the BP Statistical Review, the UK ranks now in the middle of the pack out of more than 50 countries in terms of oil and gas production in the global E&P table. The UK’s contribution has declined from c. 4% of the world’s production in 2000 to c. 1% in 2014. It is expected that the world’s oil and gas production will continue to grow over time to meet the ever increasing demand. With the UK’s production declining further in years to come, the UK may be relegated from the oil and gas premier league, unless we find ways to re-invigorate exploration, increase appraisal drilling and new field development activities in the UK.
A new centre which aims to speed up the development of new technologies for the North Sea oil and gas industry will be formally launched by Energy Minister Fergus Ewing in Aberdeen tonight