Questions have emerged on whether accelerated drilling activity in the United States will bring a screeching halt to the tentative rally in crude prices. It won’t, say analysts at Tudor, Pickering, Holt & Co. In short, the United States needs a return to growth in 2017 to balance the market by the end of the… Read more »
The oil and gas industry’s effort to adopt digital technology not only will impact its daily operations, but its hiring needs as well. The oil and gas industry must pursue digital technology for two reasons: an aging workforce and increased focus on safety, said Mike Weast, IT regional vice president with professional staffing firm Addison… Read more »
ISTANBUL, Oct 12 (Reuters) – OPEC sought on Wednesday to build momentum for its plan to cap global oil production, saying it will extend invitations to more non-member producers after holding informal talks with Russia and Mexico in Istanbul. Representatives of OPEC and non-OPEC countries will hold a technical meeting on October 28-29 in Vienna… Read more »
Decommissioning is expected to assume greater significance in Thailand’s oil and gas industry as the kingdom enters its fourth decade as a producer. Ageing infrastructure, particularly those located in the Gulf of Thailand, and a gradual depletion of petroleum resources could nudge the sector to take the first steps towards dismantling some of these installations…. Read more »
NEW YORK, Sept 20 (Reuters) – U.S. oil prices edged up on Tuesday on hopes the planned restart of country’s main gasoline pipeline after a leak more than a week ago will boost demand, while Brent slipped amid skepticism over a proposed deal to freeze production. Both benchmarks hit six-week lows earlier on the day… Read more »
Anadarko Petroleum Corp. is diving even further into deepwater Gulf of Mexico with a $2 billion acquisition of assets from Freeport McMoran Inc., the company announced Monday. The deal, effective Aug. 1, will be immediately accretive, Anadarko CEO Al Walker, said in a news statement. It is expected to close by the end of the… Read more »
In a far corner of the Caribbean Sea, one of those idyllic spots touched most days by little more than a fisherman chasing blue marlin, billions of dollars worth of the world’s finest oil equipment bobs quietly in the water. They are high-tech, deepwater drillships — big, hulking things with giant rigs that tower high… Read more »
HOUSTON – Shell has started production from the Stones development in the Gulf of Mexico. Stones is expected to produce around 50,000 boe/d when fully ramped up at the end of 2017. The host facility for the world’s deepest offshore oil and gas project is the FPSO Turritella. It is the thirteenth FPSO in Shell’s global deepwater portfolio and produces… Read more »
Oil prices are going up as oil supply and demand are approaching a more balanced situation, writes geophysicist Jilles van den Beukel. And they will continue to go up as supply is expected to fall below demand in the 2018-2020 period. The key factor in supply reduction is that cost cutting is leading to higher… Read more »
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