Positioning itself to become the second largest oilfield services provider is one thing, but whether the mega-merger of GE Oil & Gas and Baker Hughes signals an abrupt end to the industry’s bloodletting is quite another. GE Oil & Gas (NYSE: GE) is spinning out the oil and gas part of its business into a merger with… Read more »
The convergence of digital technology with existing supervisory control and data acquisition (SCADA) infrastructure has increased the oil and gas industry’s risk to cyberattacks, industry insiders say. Oil and gas companies are lucrative targets for cyberattackers motivated to perform industrial espionage, steal intellectual property or cause critical infrastructure disruptions, Todd O’Boyle, co-founder and chief technology… Read more »
The Scottish National Party (SNP) has joined calls for the UK government to use the Autumn Statement on November 23 to incentivize North Sea exploration and development. On Monday, Oil & Gas UK said it had written to the UK’s Chancellor of the Exchequer, asking him to use his statement on November 23 to help boost investor confidence in… Read more »
The latest companies to release their 3Q results, Royal Dutch Shell plc and BP plc’s latest quarterly updates were defined as largely positive by oil and gas analysts at investment bank Jefferies. Shell’s overall 3Q adjusted net income of $2.792 billion was 63 percent above the consensus of $1.714 billion and 41 percent above Jefferies’ estimate… Read more »
Oct 31 (Reuters) – General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc, creating the world’s second-largest oilfield services provider as industry competition heats up to supply more-efficient products and services to the energy industry. The deal to create a company with $32 billion in annual… Read more »
Keeping up with exploration and production companies’ need for more sand on hydraulic fracturing jobs, Halliburton Corp. and U.S. Silica Holdings have moved an industry record of almost 19,000 tons of sand via unit trains across the country. Timothy Wesbey Director of Supply Chain, Halliburton The trainload – the largest frac sand unit of its… Read more »
LONDON, Oct 18 (Reuters) – The deepwater oil industry is not dead, even after the brutal drop in oil prices in recent years, but activity will focus on regions such as Brazil and the Gulf of Mexico where resources are large and costs low, executives said on Tuesday. Sanctioning of multi-billion dollar projects, that take… Read more »
The Bureau of Land Management’s (BLM) recent update of regulations governing the measurement, reporting and recordkeeping of oil and gas production from federal and Indian leases could cause a decline in U.S. oil and gas production due to slow permitting and excess government red tape, two energy industry groups said Monday. Both the Independent Petroleum… Read more »
(Bloomberg) — Crude at $60 a barrel would probably trigger a strong increase in North American oil output, the head of the International Energy Agency said, amid signs that OPEC members and Russia may be edging toward an agreement to limit production. Benchmark Brent crude hit a one-year high above $53 a barrel on Monday… Read more »
Consulting firm Booz Allen Hamilton believes that the oil and gas industry will face a shortage of skilled workers once the oil and gas industry recovers. The shortage is expected as many laid off workers move into other industries, and college graduates shift to more stable industries, Jim Kolodgie, principal with Booz Allen Hamilton’s civil… Read more »
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