Posts By: Olivia Cao

Keystone Foes Duck Climate in Red State Oil Pipeline Battle

(Bloomberg) — You won’t hear the C-word coming from Keystone XL foes as they argue against TransCanada Corp.’s push to get the final state approval needed to build the pipeline. C, as in climate. Instead, even as the company seeks to limit objections, they’re spotlighting TransCanada’s use of eminent domain, which Republicans traditionally oppose in… Read more »

Kemp: Macroeconomic Risks For The Oil Industry

LONDON, Aug 4 (Reuters) – The global oil industry now appears to be in the early stages of a cyclical expansion which is likely to see prices rise over the next few years, slowly at first but then accelerating later. Deep and long cycles in oil prices have been the defining characteristic of the industry… Read more »

Big Oil Seen Vulnerable to Fresh Slump Despite Growth at $50

(Bloomberg) — Europe’s oil industry is once again generating cash even as crude languishes at half the price of three years ago. Yet companies remain vulnerable to a renewed downturn. The region’s top three — Royal Dutch Shell Plc, Total SA and  BP Plc — can now cover spending from cash flow with oil at $50… Read more »

Who Are the Oil, Gas Industry’s Departed Workers?

Just as the tally on global oil and gas layoffs due to the industry downturn surpassed the 440,000 mark, Rigzone was hard at work developing a plan to reach those who had left the industry. With oil prices plummeting to historic lows in February 2016 and drilling activity stalled, many oil and gas professionals were… Read more »

European Oil Producers’ Weak Hedging Shows Bet on Price Rebound

LONDON, July 31 (Reuters) – Europe’s smaller oil producers are more optimistic about the market than they have been for the past couple of years as a significant reduction in hedging shows they are betting on higher prices. Oil producers typically sell ahead a sizeable part of future production to protect themselves against a sudden… Read more »

OPEC Oil Output Jumps To 2017 High On Further Libya Recovery

LONDON, July 31 (Reuters) – OPEC oil output has risen this month by 90,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, led by a further recovery in supply from Libya, one of the countries exempt from a production-cutting deal. A dip in supply from Saudi Arabia and lower Angolan exports… Read more »

OCA Invites Unions for Fresh Talks

The Offshore Contractors’ Association has invited trade unions to take part in fresh talks this week, in an effort to bring a pay dispute to an end. “Now all the trade union ballots have been declared we must focus all our energy on reaching a fair and reasonable settlement,” Paul Atkinson, CEO of the Offshore… Read more »

EY Study Decodes Oil, Gas Perception Challenges in Young People

Here’s the good news: young consumers (millennials and Gen Z) have an overall positive view of the energy industry. The bad news? They don’t want to work in oil and gas. A 2017 study by EY, which polled 1,200 U.S. consumers ages 16 and older, revealed a few harsh realities. Namely, young people aren’t interested… Read more »

BB-1 Described as ‘Key Well’

“What we’re trying to do here is replicate what we saw at Hawk’s Hill,” Sanderson said in a brief video posted on the company’s Twitter page. “If we actually find the same sort of oil in the kimmeridge limestones here, then what that will do is show that we’ve essentially got a continuous oil deposit… Read more »

TECH SHOWCASE: A ‘Blindness’ Cure for Operators

Measuring actual, real-time fluid levels and gas flow rates in pressure control equipment can be challenging in drilling and flowback operations. It’s not unheard of for a problem to become evident only after a tank has overflowed or a kick has occurred. Weir Oil & Gas, a unit of The Weir Group PLC that provides… Read more »