Monthly Archives: June 2017

OpEd: OPEC Production Cuts Fail, Markets Pay for Underestimating US Shale

Crude oil prices have plummeted 20 percent since February, the most dramatic first-half slump since 1997, and inventory remains about 340 million barrels above the five year average. In short, the agreement between OPEC and its non-OPEC allies to slash their production by 1.8 million barrels per day has failed to rebalance the oil market… Read more »

Workers Sense Skills Shortage in Industry

Oil and gas workers believe there is a skills shortage in the industry, according to a new report from Petroplan released Tuesday. Twenty-two percent of respondents agreed that the industry was missing talent in the company’s Talent Insight Index 2017, which gathered information from over 2,000 people who work in the energy sector. The emergence… Read more »

Wood Group Pens Deal Which Will ‘Improve the Worker’s Day’

Wood Group has signed an extension to its collaborative agreement with Canadian technology company Librestream Technologies to continue its digital solutions partnership. “Empowering workers with digital tools designed for rapid response in rugged field environments is our key mission,” Kerry Thacher, chief executive and founder of Librestream, said in a company statement. “Combining Wood Group’s… Read more »

What Are the Qualifications to Become a Welder?

As the American Welding Society observes, the demand for welders is growing. Do you think you have what it takes to become a welder? Welders work in a variety of oil and gas settings: drilling rigs, offshore production platforms, shipyards, refineries, pipelines, liquefied natural gas terminals and more. They possess highly coveted skills that can… Read more »

Mexico Whets Foreign Oil, Gas Appetite: Awards 10 Shallow Water GOM Blocks

Mexico’s Gulf of Mexico shallow water auction June 19 awarded 10 of 15 blocks to the likes of Eni, Royal Dutch Shell and Total – suggesting the nation’s bet on foreign oil company investment will pay off. Round 2.1 in the nation’s auctioning process for private companies to lease southern blocks drew participation from 20… Read more »

Industry to Benefit from Tech Talk Events

Industry Technology Facilitator (ITF) is launching a series of tech talk events to support and promote the developer community and increase interaction with oil and gas operators. The first of the free events will be held at the Chester Hotel, Aberdeen on Wednesday, June 28 at 5pm. This event will see Premier Oil’s Tammie Sebire… Read more »

Scottish Unemployment Figures Change Amid Growing Sector Confidence

Scotland’s unemployment fell to its lowest rate since the recession over the last quarter, amid growing oil and gas contractor confidence on the UK Continental Shelf. Unemployment in the country dropped by 0.6 percentage points to 4 percent, equalling the figure for March to May 2008, the labour market statistics for Feb-Apr 2017, published by… Read more »

BP’s Dudley Seen Reigning For Years To Restore Major’s Might

LONDON, June 15 (Reuters) – When BP boss Bob Dudley clinched a final deal to settle litigation over the deadly Deepwater Horizon disaster, many oil industry executives and investors thought his mission was accomplished. But now, two years later, the 61-year-old is showing no sign of easing into retirement. In fact he plans to oversee an ambitious… Read more »

Op-Ed: $1 Trillion on the Line, and Saudi Aramco IPO Riddled with Risk

Around the world, investment bankers rub their hands together, giddy with visions of barrels full of cash accompanying Saudi Arabian Oil Co.’s initial public offering (IPO). But first things first. Saudi Arabia’s decision of where the kingdom will place Saudi Aramco’s record-shattering IPO – expected to value the company up to $1 trillion – remains… Read more »