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Latest news - Features

Middle East Oil & Gas Review

Middle East Oil & Gas Review   OPEC+ left its oil production policy unchanged, for now, while producers lagging in compliance with the ongoing output cuts pledged to improve their conformity rates and compensate for previous overproduction. Saudi oil giant Aramco reported lower second-quarter profits as it continues to restrict production, while it raised $6 billion from a new bond issuance, weeks after a secondary share sale raised more than $12 billion for the Kingdom of Saud...

US Oil & Gas Review

US Oil & Gas Review   Mergers and acquisitions in the US oil and gas industry continued their momentum in the second quarter as pressure grew on some producers to boost scale and production to compete with peers. While US oil production is set to grow at a slower pace this year compared to the previous two years, while well costs are falling amid increasing efficiency, which is also driving a decline in upstream employment numbers in the top oil-producing state, Texas.  &n...

UK North Sea Review

UK North Sea Review   The UK’s government plans to further raise the energy profits levy, acquisitions of offshore portfolios, new drilling, and a number of new contracts featured in the UK North Sea oil and gas industry in the past month. The UK’s Chancellor of the Exchequer, Rachel Reeves, has confirmed plans for the Energy Profits Levy to be extended one year to 31 March 2030, have its investment allowances tightened, and to increase the rate of the levy by three per...

Europe Energy Review

Europe Energy Review   Deals for development of European oil and gas resources, the pledge of the new UK government to materially boost renewables capacity installations, and numerous deals in solar, wind, hydro, and hydrogen across Europe were the highlights in the European energy sector this past month. Oil & Gas Canadian company Tenaz Energy said it had entered into an agreement with Nederlandse Aardolie Maatschappij B.V. (NAM), a 50/50 joint venture between Shell and Exx...

The generation gap: the risks of a workforce in transition

The generation gap: the risks of a workforce in transition   Human factors key in successful and efficient safety practices Skills shortages in the workplace and different generational safety knowledge and training expectations are seen as challenges to workplace safety provision over the next year, a new research study has reported. Dräger’s latest Safety and Health at Work (2024) report  revealed that over three quarters (78%) of people believe that skills...

UK North Sea Energy Review - 2024

UK North Sea Energy Review - July 2024   The general elections and the new government’s vision for the UK’s energy future dominated headlines in the UK North Sea oil and gas industry in recent weeks. Following the landslide Labour win in the 4 July election, Offshore Energies UK said it is committed to working with the new government on the next steps to a homegrown energy transition, to safeguard energy security, jobs and skills, and create a favourable investment envi...

Europe Energy Review - July 2024

Europe Energy Review - July 2024   Exploration and further development of Norway’s offshore oil and gas resources, the implications of Labour’s win on the UK energy industry, and the start of many low-carbon projects featured in the European energy sector over the past month.   Oil & Gas Equinor and its partners Petoro, Vår Energi, and TotalEnergies EP Norge started production from the first Lavrans well in the Kristin South area on 7 July....

USA Energy Review - July 2024

USA Energy Review - July 2024   Oil and gas activity in the top US oil-producing shale basin, the Permian, grew slightly in the second quarter of 2024, as output remained essentially unchanged, the quarterly Dallas Fed Energy Survey showed at the end of June.  Half of executives at US oil and gas firms in the Eleventh District—Texas, southern New Mexico and northern Louisiana—said in the survey that their firms do not use artificial intelligence...

Middle East Energy Review - July 2024

Middle East Energy Review - July 2024   OPEC reiterated its forecast of robust oil demand growth in the summer and the whole of 2024, while the biggest national oil companies in the Middle East moved to significantly expand their international footprint in the LNG industry.   OPEC Maintains Robust Oil Demand Growth Forecast In its monthly report in July, OPEC revised up slightly its outlook for global economic growth and kept its forecast of strong oil demand g...

Risk Management: Risks multiplied in recent years

Risk Management: The energy industry is managing a plethora of risks, which have only multiplied in recent years.   From safety and asset management to political and geopolitical risks, and environmental and reputational risks, the energy sector has stepped up risk assessment, management, and control to continue smooth and safe operations and ensure the energy supply the world needs. Amid geopolitical tensions, cyber security risks have also become prominent in recent years, whil...

Arnlea’s Analytical Software is Increasing Safety in Ex Inspections

Arnlea’s Analytical Software is Increasing Safety in Ex Inspections   Ex inspections ensure the integrity of electrical equipment in explosive atmospheres, crucial for safety in oil and gas facilities, chemical plants, and grain silos. As these industries evolve, so must their inspection tools and methods. Arnlea, a software company based in the heart of Aberdeen, Scotland, are dedicated to increasing the safety and efficiency of inspections by devoting their efforts tow...

Drilling into success: the dynamic duo of AI and Lessons Learned

Drilling into success:  the dynamic duo of AI and Lessons Learned   In the landscape of drilling operations, finding innovative ways to enhance performance and increase cost estimation accuracy is paramount. Fortunately, the emergence of artificial intelligence (AI) has opened the doors to groundbreaking advancements in these areas. Combining lessons learned in drilling with AI can synergise in the design of wells and the estimation of future drilling costs. Utilising Lesso...

Solving offshore power delivery challenges through collaboration

Solving offshore power delivery challenges through collaboration   With oil and gas operations taking place hundreds of kilometres offshore and in increasingly deeper waters, oil and gas operators typically rely on umbilical cables to deliver both hydraulic and electrical power supply and controls to their subsea applications. However, aging assets in the North Sea are more susceptible to low insulation resistance (IR) within these umbilical cables. IR is defined as the abilit...

Innovative Solutions for Managing Risk in Oil and Gas

Innovative Solutions for Managing Risk in Oil and Gas   The oil and gas industry is fraught with potential hazards and managing these risks is paramount to ensuring the safety of workers and the environment. Flare, a leading provider in this sector, offers a suite of solutions through its Hazardous Environment Services (HES) division.   We sat down with Flare’s Harry Smith to find out more.   Flare's HES division keeps workers safe in some of the w...

Forthcoming changes to UK merger control thresholds

Forthcoming changes to UK merger control thresholds    By Jamie Dunne, Senior Associate at Brodies LLP, specialising in competition law.   The Digital Markets, Competition and Consumers Act 2024 (DMCC Act) received Royal Assent shortly before Parliament was dissolved for the 2024 General Election. Barring any surprises, it is expected to come into force this autumn. Among changes to UK competition and consumer law and the regulation of big tech, the DMCC Act will al...

Driving Performance Excellence: The Power of Strategic Learning & Development

Driving Performance Excellence: The Power of Strategic Learning & Development   Whilst COMET continues to be a leading provider of risk intelligence software and technology solutions, our wider Learning & Development services also offer meaningful opportunities for organisations to continually improve and be risk-aware. Through many years of application, COMET has learned that in order to effect lasting performance improvement, you must first understand what works well and...

Skills & Training in the Energy Sector

Skills & Training in the Energy Sector   Safety and skills have always been and will be crucial for the energy industry and the people responsible for the design, construction, operation, and delivery of all forms of energy to consumers. As the sector is starting to transition to cleaner energy sources and the involvement of artificial intelligence (AI) is growing, the role of the people and their skills and the transferability of these skills in the oil and gas industry to sim...

Brimmond’s got talent: How we foster a culture of continuous learning and development

Brimmond’s Got Talent: How we foster a culture of continuous learning and development By Lisa Glenday Murdoch   With the Brimmond team working at the forefront of technology and engineering, it’s in our DNA to be curious and continuously learning. Combine this with our core value of prioritising people in a culture of trust, respect, and collaboration; it’s not surprising that we champion training and upskilling across the company. We encourage and supp...

New Industry Talent: Providing A Roadmap To Career Success

New Industry Talent: Providing A Roadmap To Career Success   By Kyle Pitman and Meghan Bowers, DRIFT Offshore It’s a recurring question with no straightforward answer: how do we consistently attract new talent into our industry to help drive the energy transition? The expanding nature of the global renewables sector is exposing a skills gap at a time when a safe and successful transition depends on having the right people, with the right skills, in the right posi...

The importance of Cyber Security in the oil and gas sector: What you need to know

The importance of Cyber Security in the oil and gas sector: What you need to know   Our energy sector faces daily threats from malicious cyber attackers. According to IBM’s X-Force Threat Intelligence Index 2024, the UK is the most attacked country in Europe, and energy is the fourth most-attacked industry. At the end of last year, the UK was still 75% dependent on fossil fuels, making the oil and gas (O&G) sector a particularly attractive target for both financially moti...
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