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Category Archives: Outlook

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Govt: Conoco To Push On With Investment In Indonesia Oil, Gas

April 1, 2015

U.S. company ConocoPhillips plans to invest around $2.5 billion in Indonesia’s upstream oil and gas industry over the next three or four years, the nation’s energy minister said on Tuesday. That would roughly match its investment in the sector over the preceding four years, Sudirman Said told reporters following a meeting between the chief executive… Continue Reading »

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Energy-Focused Agent Sees Patience, Caution in Houston’s Real Estate Market

March 27, 2015

Often called “The Energy Capital of the World,” Houston is where many oil and gas industry employees reside at some point in their careers. According to the Greater Houston Partnership, 40 of the United States’ 134 publicly traded oil and gas exploration and production firms call Houston home. Moreover, as of December 2014, nearly 32… Continue Reading »

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SapuraKencana Profits Rise Despite Q4 Dive

March 27, 2015

SapuraKencana Petroleum Berhad has recorded net profit of RM 1.4 billion (approximately $383.6 million) for the financial year 2015 (FY2015), an increase of 32%, compared to RM 1.1 billion ($301 million). Malaysia’s offshore oil & gas contractor generated revenues of RM 9.9 billion ($2.7 billion) and profits before tax of RM 1.6 billion ($438 million) for FY2015… Continue Reading »

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Boskalis Ups Stake in Fugro to 25 Pct

March 26, 2015

Royal Boskalis Westminster N.V. (Boskalis) has increased its holding in Fugro N.V. to 25.1%. Boskalis stresses that this is not a step towards making an offer. Boskalis views Fugro as an “interesting company” with strong market positions in its core activities. Earlier this year, Boskalis increased its holding in Fugro to 20 percent, which Fugro… Continue Reading »

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Schlumberger Sees 10-15% Drop In Industry E&P Spending In 2015

March 24, 2015

Schlumberger Ltd, the world’s No.1 oilfield services provider, said it expects the oil and gas industry’s spending internationally on exploration and production to drop by 10-15 percent in 2015. A 50 percent drop in global oil prices since June has prompted oil and gas producers to cut back spending and shore up dwindling cash reserves…. Continue Reading »

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Deloitte: Time Right to Reinvent Human Resources Profession in Oil, Gas

March 23, 2015

The human resources (HR) profession can take advantage of Australia’s changing oil and gas marketplace to evolve and improve how it meets the demands of the industry, according to Julie Harrison, human capital partner at Deloitte Australia. Ahead of the professional services company releasing its 2015 Global Human Capital Trends this month, Harrison provided an… Continue Reading »

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Siem Offshore Restructures Business

March 22, 2015

Siem Offshore Inc. has decided to streamline its business by forming one dedicated organisation for its core offshore vessel business named “Siem Offshore OSV”. The remaining business consisting of Siem Offshore Contractors, Joides Resolution, Siem Wis, the combat management business in Brazil and certain property investments will be organisationally separated and operated under the name… Continue Reading »

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Russian Energy Minister to Discuss Cooperation with Exxon CEO

March 21, 2015

Russian Energy Minister Alexander Novak plans to discuss energy cooperation with the CEO of U.S. oil and gas major ExxonMobil, Rex Tillerson, at their meeting later on Wednesday. Novak also told reporters both planned to discuss the Exxon-led Sakhalin-1 project, which produces over 100,000 barrels of oil per day. The Kommersant daily reported on Wednesday… Continue Reading »

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Report: Removing US Oil Ban Would Create Jobs Beyond Drilling

March 20, 2015

Lifting a 40-year-old U.S. ban on crude exports would create a wide range of jobs in the oil drilling supply chain and broader economy even in states that produce little or no oil, according to a report released on Tuesday. Some 394,000 to 859,000 U.S. jobs could be created annually from 2016 to 2030 by… Continue Reading »

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Conoco To Cut 7% Of Canadian Workforce

March 20, 2015

Oil company ConocoPhillips plans to cut about 7 percent of its workforce in Canada, or about 200 employees, as tumbling oil prices have made its operations in the country less profitable. The company, which operates conventional and oil sands operations in Canada, told Reuters on Wednesday the cuts came as oil prices continue to weaken… Continue Reading »

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