oil prices

Continued suppression of global oil prices has questioned the viability of several large and ultradeepwater projects. Article covers Douglas-Westwood’s deepwater expenditure forecast for the 2016–2020 period, and the effect of reduced rig demand on deepwater Capex growth.

In the Price of Oil, Roberto Aguilera and Marian Radetzki predict a dramatic increase in shale oil and other tight oil production from about 4 million BOPD today to as much as 40 million in 2035. This will have a limiting effect on oil price.

Predictions of a 2016 recovery in the exploration and production (E&P) sector became increasingly rare after 2015 ended with a thud as oil prices sank below USD 40/bbl.

Without serious climate policy restrictions, the use of cheaper oil will likely grow and extend its life expectancy throughout the global energy system.

In the current economic environment, efficient water management practices will become even more essential for companies looking to run successful hydraulic fracturing operations.

What does USD 60/bbl crude mean to the oil industry? We all know that oil prices are volatile and that we have seen oil in the USD 60/bbl price range before, but not since 2008.

A recent webinar discussed the challenges the industry faces in adapting automated systems and the steps that operators should take to tackle the challenges.

The effects of oil price volatility on operators and service companies, technological advances, safety and environmental risks, economic and regulatory impacts, and sustainability were highlighted in the sessions and discussions during the annual Offshore Technology Conference.

Low oil prices look like something the industry needs to get used to. “This will be with us for a while,” said Rex Tillerson

In a recent webinar, the speaker discussed mistakes companies make when prices are falling along with steps to help manage project costs in difficult economic times.