Offshore project sanctioning could soon “eclipse” levels seen in 2014 before the oil downturn, according to new research.
Oil companies are under increasing pressure to bring fuel to market faster and cheaper, leading BP Plc to conclude some of its resources “won’t see the light of day,” according to its head of strategy.
Cost uncertainty for offshore oil and gas projects around the globe could be as high as $220bn over the next four years.
The sanctioning of oilfields is set to slow across the globe in the early 2020s, according to new research.
North Sea oil production is “struggling” and is due to hit its lowest point in five years, according to a new forecast.
The global oil price could shoot “violently upwards” following supply disruptions in the Middle East, including attacks on a pair of oil tankers.
More than 1 million kilometres of new oil and gas wells will be drilled over the next five years, according to a new forecast, further than the distance to the moon and back.
Chevron has announced plans to buy fellow US oil and gas operator Anadarko Petroleum in a deal worth £38.2bn, the largest upstream takeover since 2015.
A cycle of “renewed growth” has been forecasted for the North Sea as new projects drive up production levels.
The UK’s annual spending on decommissioning activities has been forecasted to go beyond £1.5billion within three years.
Offshore service market spending will outgrow onshore shale this year, energy researcher Rystad Energy said.
Rystad Energy has announced plans to set up shop in Aberdeen as it forecasts a surge in activity for the UK North Sea.
Rystad Energy has forecasted a 'strong outlook for contractors' with more than 100 new offshore projects expected to be sanctioned globally next year.
North Sea work is helping bring the global FPSO market “back to life” according to a new report from Rystad Energy.
The current “tailwind” in the energy industry is likely to propel 100 new offshore projects to be sanctioned this year, according to Rystad Energy.
Strong results for oilfield service giants of Schlumberger, Haliburton and BHGE “set the tone” for 2018, according to Rystad Energy.
Energy consultancies Rystad Energy and Wood Mackenzie expect 13-14 North Sea developments to have reached final investment decisions (FID) by the end of this year.
Saudi Arabia has added enough recoverable oil resources to retake top position ahead of the United States and Russia, according to Rystad.
Research firm Rystad Energy has found that more delayed projects have been sanctioned so far in 2017 than during the entirety of 2016 – but the overall list has continued to grow.
Rystad Energy has predicted that US oil production could hit an all-time high of 10 million barrels per day before the end of 2017.
US gas companies could see a large LNG export potential to China after President Donald Trump and President Xi Jinping reached the bilateral trade agreement last month, said Rystad Energy.
There is hope in the oilfield service industry despite the current downturn with a project $30billion growth from 2014-2018 according to a leading analyst.
Job cuts, lack of capacity and failure to invest in field development could lead to a oil supply shortage in coming years, according to research by oil and gas consultants Rystad Energy.