Why we need more innovation in the oil industry

  It’s something as applicable for organisations as individuals but it’s true – it doesn’t come easy. “The oil and gas sector, historically, has been very conservative about its methods and has been very resistant to change,” says Dr Tony Trapp, founder of SMD, The Engineering Business and now OSBIT Power. “We need to break…

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Oil is not well: assets for sale!

The latest is German energy giant E.ON.   It is hoping to raise around £1.25bn to restructure its business, having felt the pinch from the slump in oil process since this time last year.   But the North Sea ones – Huntington, Elgin, Franklin and Glenelg – aren’t going to cover all that it wants…

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The kingdom of Saudi Arabia is losing its crown to Russia

No longer using the caravans on the Tea Road, the oil is sent by sea and a series of pipes, including the 4,857km Eastern Siberia – Pacific Ocean pipeline. And what a lot of oil it is. Last month it became China’s top crude oil supplier. It goes without saying that Saudi will not be…

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What does the future hold for Norway’s oil industry?

That meeting happened eight days before Aker Solutions announced it was adjusting its workforce capacity in Agotnes by up to 200, and nine days before Statoil was reported to be considering cutting 2000 jobs by the end of next year.   It has since been confirmed that between 1100 and 1500 permanent employees and 525…

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Shell’s Alaska Arctic spill response plan gets US court approval

  27,917. $4.5bn. 26bn. 266 ft. 2 – 1.   Let’s start with the first one. That’s how many ringed seals, beluga and bowhead whales environmentalists deem to be at risk after Royal Dutch Shell was permitted to keep its exploration lease in Alaska.   Moving to number two – you might say the counter…

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Wind power isn’t as cheap as it seems!

Well, let’s look at the company first and the answer is yes. It’s subsidised by the Conservative Government. Not as much as it would like however, and you might remember that last year it had to scale back the plans because the subsides on offer were too low. Originally it wanted to create a wind…

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OPEC votes to maintain production output

Well, what do you think OPEC decided? Yes, it’s going ahead with its current 30m BPD output. Following the announcement the general secretary Abdullah al-Badri said the decision was “unanimous” and the Venezuelan Oil Minister Asdrubal Chavez said “It’s been a very successful meeting.” The market reacted with.. well, a complete lack of surprise. The…

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Norwegian drillers on strike!

SAFE reported following the failed talks in May that, “The Norwegian Ship-owners’ Association (NSA) didn’t have a dime to offer our members.” But you could argue the current situation has been caused by SAFE’s mismanagement of expectations. At a time when contracts are being cancelled and day rates are falling as the market copes with…

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The controversy over Shell’s Arctic oil drilling

It has been described as an incredibly rich biological habitat and according to Interior Secretary Sally Jewel, “there are some places too special to drill.” You can imagine how that went down with Alaskan leaders eager to open the seabed for the wealth that could flow. One US Senator, Lisa Murkowski, was quoted as saying,…

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