Diesel sales down 95% in Norway as EVs gain momentum
Sales of certain diesel models are in free-fall as Norwegians turn to Tesla and other makers of premium electric vehicles (EV), Rystad Energy finds.
Rystad
Employment is shifting from shale to offshore, Rystad says
Rystad Energy has analyzed the oilfield service industry sectors with the highest percent change of employment, and found that the main driver of employment is shifting from shale to offshore.
ExxonMobil’s Norway exit could break records, Rystad says
US supermajor ExxonMobil could be looking to fetch as much as $3.1 billion through the sale of its Norwegian portfolio, according to Rystad Energy.
Oilfield service firms starting to lift prices, Rystad says
After several years in the doldrums, oilfield service companies are beginning to raise prices for their products and services, according to Rystad Energy.
Rystad: Uncertain OPEC should keep current cuts flat
OPEC nations may be at odds with each other, but all they need to do is extend their current crude oil cutbacks through the end of the year to help keep the market relatively balanced, according to a new report.
OPEC+ proposes mid-July meeting to settle dispute over dates
OPEC proposed mid-July meetings with its allies in Vienna to discuss extending production cuts, after talks between Russia and Iran made some progress toward resolving a standoff over the date.
E&P companies awash in cash – and more could be in store for this year
The world’s publically listed oil and gas companies are bringing in cash at the best rate ever witnessed even though oil prices have only partially recovered from the huge drop suffered in 2014 and 2015, according to Rystad Energy.
Rystad forecasts a boom in Xmas trees
A rapid rise in subsea tree installations is projected for the global offshore industry in the coming years, as operators are poised to boost expenditure substantially on subsea equipment and installation.
Volumes from new oil and gas projects set to triple in 2019, says Rystad
A global surge in final investment decisions (FIDs) on new oil projects could see sanctioned volumes almost triple compared to 2018's total, analysts have said.
Rystad: The 30 wildcats to look out for in 2019
After years of budget cuts, oil and gas companies are finally stepping up their exploration game. Several wildcat wells planned for 2019 have the potential to be “elephant” finds, according to Rystad Energy.
33 FPSOs to be sanctioned to 2021, predicts Rystad
A total of 33 floating production, storage and offloading (FPSO) vessels will be sanctioned between now and 2021, according to a new analyst forecast.
Future looks bright for global subsea engineering
Life is looking up on the subsea front.
Glengorm will likely be an industry hotspot for years, Rystad says
The oil and gas world is abuzz with news of a major gas find in the UK as operator CNOOC and partner Total unveiled the largest discovery in British waters since 2008.
Winners and losers of offshore spending revival
After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them everything from seismic surveys to pumps and turbines.
All eyes on Vienna – OPEC+ must cut 1.5m barrels or wave goodbye to recovery
OPEC and its allies must cut oil production by 1.5 million barrels per day next year if they want crude prices to surge above $70 again, an analyst said today.
Subsea 7 ‘aims for SURF throne’ with McDermott takeover bid
Subsea 7’s £1.4billion takeover bid for McDermott represents a move to “assume the throne” for the global subsea umbilicals, risers and flowlines market (SURF), according to analysts Rystad Energy.
Gas exports to Europe from Russia, Norway at record levels in 2017, Rystad says
Gas exports to Europe from Russia and Norway reached record levels last year, a new report said today.
North Sea back to life, 13 fields expected to be sanctioned in 2018
The UK oil and gas industry is stirring back to life, with 13 fields expected to be sanctioned in 2018.
Pipeline of delayed projects starting to flow, Rystad research shows
The number of delayed oil and gas projects sanctioned last year was more than double that of 2015 and 2016 put together.
Oil discoveries in 2017 hit all-time low
Oil companies discovered less oil and gas this year — 7 billion barrels — than any year on record, the Norwegian research firm Rystad Energy reported on Thursday.
Opinion: US shale immune to an oil price crash in 2017
Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.
New field project delays increases to 63, $230bn spending also deferred
The number of new field projects put on hold has increased from 40 to 63 in the past six months alone, according to a report. Senior analyst Readul Islam from Rystad Energy, said a total of $230billion in pre-development spending has also now been deferred. Islam said the drop in oil price has imposed stricter financial prudence on E&P players.