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Category Archives: Outlook

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Saudi, Russia Pre-OPEC Talks Yield No Oil Output Cut

November 26, 2014

Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices. In a day of shuttle diplomacy before OPEC’s output meeting in Vienna on Thursday, energy… Continue Reading »

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Scotland to Establish Wave Power Development Body

November 25, 2014

Scotland is to establish a wave energy technology development body to encourage innovation in the industry Minister for Business, Energy and Tourism Fergus Ewing announced. ‘Wave Energy Scotland’ will bring together the best engineering and academic minds to collaborate in a research and development programme to accelerate wave technology further. The development of wave energy… Continue Reading »

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China’s Oilfield Services Companies Face Mixed Industry Fortunes

November 24, 2014

Profits of major Chinese independent oilfield services (OFS) firms declined in the first half of 2014 from a year ago as business activities slowed in China’s upstream petroleum sector even though their state-owned energy companies-backed counterparts posted gains. Despite the generally weaker performance by OFS companies, the long-term prospect for the industry is bright due… Continue Reading »

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Tribute Focuses on Tidal Power Development

November 24, 2014

Tribute Resources Inc. has established a new corporation called International Marine Energy Inc. (IME).   IME has acquired the interests of Tribute in Western Tidal Holdings, (WTH). It is the intent of Tribute to develop all further tidal power projects in Canada and internationally within IME. IME has been initially funded by a cash share… Continue Reading »

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IADP – A New Voice For Diving Professionals Worldwide

November 24, 2014

A new organisation has taken up the challenge of representing dive professionals worldwide and across all agencies. The International Association of Dive Professionals (IADP), founded by dynamic dive entrepreneur Henri Hemmerechts, is a non-profit organisation that represents the interests of all diving professionals, regardless of country or affiliation. IADP will act as the united voice… Continue Reading »

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Israel Must Improve ‘Erratic and Unclear’ Oil, Gas Regulations

November 23, 2014

The state of Israel still has to do a lot of work in order to improve “erratic and unclear” regulations if it is to produce stable conditions for the oil and gas industry to flourish. This was the key message that came out of Wednesday’s Universal Oil & Gas 2014 conference, which is being held at… Continue Reading »

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Fugro Bolsters Metocean Modelling Capabilities

November 22, 2014

Increased interest in new development areas for oil and gas and renewable energy is resulting in a growing demand for high-quality metocean data relating to these largely unexplored regions. In response, Fugro has strengthened its numerical modelling capabilities. Modelling the complexities of local environmental conditions requires refinement, both in the wind fields driving the models… Continue Reading »

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Studies Highlight Job, Economic Potential of Expanding US Offshore Leasing

November 21, 2014

The United States could create almost 840,000 jobs and generate more than $200 billion in government revenue by opening the eastern Gulf of Mexico and U.S. Atlantic and Pacific Outer Continental Shelf (OCS) to offshore oil and natural gas leasing, according to the findings of three energy industry group studies. Two studies released Wednesday by… Continue Reading »

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WavePOD Produces First Power During Testing

November 21, 2014

The vision of a standardized offshore electricity generator for the wave industry reached a significant milestone this week when the WavePOD prototype produced its first power in laboratory tests. The tenth-scale WavePOD was officially switched on by David Waldron, Bosch Rexroth’s UK Business Manager for Machinery Applications and Renewables, to mark the start of the… Continue Reading »

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