About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe’s top producer, if a new wage deal is not agreed before a Friday deadline, trade unions said on Monday. A final round of mandatory talks will be hosted by a state mediator on June… Continue Reading »
The people of the United Kingdom’s decision to leave the European Union is unlikely to have a major adverse impact on the country’s oil and gas industry, companies and organizations involved in the sector said. But they also called for clear leadership from the UK government on the way forward for the industry in order… Continue Reading »
Energy giants such as Royal Dutch Shell and Total are looking to build terminals and power plants in new markets to soak up the industry’s rapidly burgeoning supply. Companies have invested billions in plants to produce liquefied natural gas (LNG) in places such as Australia and the United States. But gas demand growth is slowing,… Continue Reading »
Despite the oil price downturn, investment in technology will remain critical to the oil and gas industry. Helping the oil and gas industry increase the efficiency, productivity and safety of its operations is the goal behind the expansion of a technology research partnership. The Research Partnership to Secure Energy for America (RPSEA) and consulting firm… Continue Reading »
With oil prices having fallen nearly 70 percent during the past 18 months, oil and gas companies are hunkering down and significantly revising strategies and business plans in an effort to adapt to the new reality. Oil and gas is inherently cyclical, and many companies will survive the current downturn. Some will even thrive, leveraging… Continue Reading »
Alexey Miller, Chairman of the Gazprom Management Committee, and Tevin Vongvanich, President and Chief Executive Officer of the Thai state-owned company PTT, today signed in Saint Petersburg the Memorandum of Understanding on cooperation in the oil and gas industry. The signing ceremony was held in the presence of Dmitry Medvedev, Prime Minister of the Russian… Continue Reading »
Creditsafe USA, the world’s most used supplier of company business intelligence, today released startling statistics about the troubled oil and gas sector. This report comes on the heels of Chapter 11 filings by four significant industry powerhouses: Breitburn Energy Partners, Linn Energy, Pennsylvania Virginia Corp., and Sand Ridge Energy, as well as the restructuring announcement… Continue Reading »
Jobs have been lost at industry body Oil and Gas UK as the organisation cuts back on staff and services. The group has made a “small number” of people redundant as the result of a shake-up which it says will allow it to support its members better. Oil and Gas UK has also reduced the… Continue Reading »
Mermaid Maritime, a provider of subsea and drilling services to the offshore oil and gas industry, notified that Nha-Vinh Julien Nguyen has resigned his position as the company’s chief financial officer. Reportedly, Nguyen leaves in order to pursue another career opportunity in a different industry. Nguyen, was appointed as CFO in Januray 2016. His resignation will… Continue Reading »
Oilfield services investment company, Akastor, has booked a first-quarter 2016 loss on sharp decline in revenues caused by the weak market. The Oslo-listed company recorded loss of NOK 366 million ($45.4 million) for the first quarter 2016 compared to loss off NOK 251 million ($31.1 million) in the corresponding quarter in 2015. Akastor, as a group,… Continue Reading »
