What are the tailwinds and headwinds for oil and gas in 2019?

As we enter the new year, the best of us are seeking to predict what will drive us forward and what will hold us back in 2019. Here we present a possible vision for this coming year and how the oil and gas sector might respond. Tailwind: Improved technology will drive rationalisation of the workforce The lower workforce costs attributed to the improvement in technology is likely to be a major tailwind in 2019. Of course, the influence of technology – with Big Data and the Internet of Things – has served to rationalise processes over the past few years.Read more

The current state of shale

The shale industry is impacted by the levels of oil production in other areas. When oil demand is satisfied easily then the prices go down. This is a truth about the oil industry full stop – whether it is shale or traditional oil exploration and production. However, this is not the first question that needs to be asked about shale. The first question that anyone looking on at the shale industry would ask is: why are the prices per barrel so much lower for shale? Global oil reached a robust price of $70 to $80 a barrel recently – butRead more

Eight Energy Firms Commit to Tackling Methane Emissions

Natural gas usage around the world is still on the rise for a number of reasons but a main one being it is better for the environment than other fossil fuels. Countries such as China are increasingly using it to power long distance trucking and countries like Ireland are considering using it to improve their energy security. However, as the main component of natural gas is methane, a major greenhouse gas, the accidental but inevitable emissions of this gas during the production, processing and distribution of natural gas constitute a significant threat to the environment. That is why energy companies BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall are committing to reducing emission in every part of their operations.

New Gasfield Discoveries Fuel Self Sufficiency in Egypt

Egypt's demand for gas has long outstripped its supply capacity.  At an estimated $8bn this fiscal year, the cost of importing oil and gas is a drain on Egypt's economy.  With most of the current oil and gas wells reaching maturity, this situation will only get worse.  However, new gas reserve discoveries, changes in government policy and foreign investment look to boost Egypt's gas production to not only negate the deficit but to allow them to export LNG.  Presenters at the Offshore Technology Conference in Houston stated that they believed Egypt could significantly reduce its LNG imports as soon as 2018 and they anticipate that they could increase their gas production by more than 90bn m3 by 2022.

UK Oil and Gas Authority Launch Exploration Data Competition

A recent Cross Sector Efficiency Study by the Oil & Gas Industry Council and PwC stated “Only fundamental change to the way businesses work and interact will generate the level of sustainable change necessary to compete for international investment in the North Sea and maximise recovery.”  In an attempt to affect this type of change, the UK Oil and Gas Authority (OGA) has launched a competition to find new and innovative ways to use extensive seismic data collected on the Rockall Basin and Mid North Sea High.  Scientists and engineers will have the chance to compete for a slice of the £500,000 worth of funding available to develop new technology to exploit these findings.

What’s on the Pipeline – Flow Measurement for Marine and Shipbuilding

Clamp-on ultrasonic flow meters were invented as a portable tool to allow marine engineers to measure the flow rates of various liquids on ships, and for the ship building and maintenance industry to do the same for commercial and military vessels, including submarines.