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Category Archives: Outlook

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Saipem Loses Gazprom Contract on Black Sea Link Over Disputes

July 12, 2015

Saipem SpA, Italy’s biggest oil-and-gas contractor, lost its $2.2-billion contract to lay a Russian natural-gas pipeline under the Black Sea after its fleet waited for the start of the work for seven months. Russia’s OAO Gazprom decided to cancel the deal as it was impossible to reach an agreement on “many working and commercial issues”… Continue Reading »

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BASF Eyes Nord Stream II

July 12, 2015

Chairman of the Gazprom Management Committee, Alexey Miller, and Kurt Bock, Chairman of the BASF Board of Executive Directors have met to address further cooperation between the companies and BASF participation in the construction of the Nord Stream II gas pipeline. In addition, a meeting between Alexey Miller and Sigmar Gabriel, German Vice-Chancellor, Federal Minister for… Continue Reading »

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EMAS AMC-LTHE JV Signs 6 Year Deal with Saudi Aramco for Offshore Work

July 11, 2015

Singapore’s Ezra Holdings Limited (Ezra or the Group), a leading contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, announced Wednesday that its Subsea Services Division, EMAS AMC has signed a six year long term agreement (LTA) with one of the world largest national oil company, Saudi Aramco, with exercisable… Continue Reading »

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Construction Starts at Sandbank OWF

July 10, 2015

Vattenfall and SWM have begun the pile driving on monopile “SB 62″, marking the start of construction of the Sandbank wind farm 90 km off the coast of Sylt. After the DanTysk offshore wind farm, Sandbank is now the second infrastructure project that Vattenfall and SWM are realizing together. The sister project, DanTysk, which is… Continue Reading »

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‘Emergency Budget': UK Chancellor Confirms Tax Relief for O&G Investment

July 9, 2015

UK Chancellor of the Exchequer George Osborne confirmed Wednesday tax relief measures for the development of oil and gas fields on the UK Continental Shelf that he first announced in March. Osborne also stated in his ‘Emergency Budget’ – the first Budget from a Conservative government for almost two decades – that the types of investment… Continue Reading »

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Oil Crashes 8% As Greek Vote, Iran Talks Set Off Exodus

July 9, 2015

Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent as Greece’s rejection of debt bailout terms and China’s stock market woes set off a deepening spiral of losses. Adding to the pressure on oil, Iran and global powers were trying to meet a July 7 deadline on… Continue Reading »

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Royal IHC Launches IHC Concept

July 8, 2015

Royal IHC has brought together a team of experienced industry professionals to form IHC Concept. Based in Grey Street in the heart of Newcastle-upon-Tyne, it will provide engineering services to the oil, gas, offshore and marine sectors. Andy Eaton will lead the team, who, using their diverse experience across a wide industrial base, specialise in… Continue Reading »

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Soaring Gas Use Lifts Demand for Regas Infrastructure in Southeast Asia

July 8, 2015

Development of regasification infrastructure is picking up in Southeast Asia, as countries in the region seek to augment declining gas production from their mature hydrocarbon basins by importing liquefied natural gas (LNG) in order to meet both export volumes and increasing domestic requirements. Southeast Asia is an emerging LNG hotspot, with annual demand growing at… Continue Reading »

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New Approach to Reduce Wave and Tidal Project Risks

July 8, 2015

The Offshore Renewable Energy (ORE) Catapult and Frazer-Nash Consultancy have produced a standardised approach to assessing and reducing uncertainty associated with energy yield assessment for wave and tidal energy projects. This approach will ultimately help to reduce risk and make projects more attractive to investors. Until now, there has been no standardised methodology or common… Continue Reading »

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Bankruptcy and More Layoffs Could Threaten Industry Even After Downturn

July 3, 2015

Just a few short years ago, the oil and gas industry was wringing its collective hands in angst over the profound shortage of workers needed to usher in the shale revolution. New college grads had all but abandoned the oil patch in favor of high tech; middle managers hadn’t returned to the profession after they… Continue Reading »

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