oil prices

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.

In this cost-cutting market environment, completion engineers face added pressure to maximize the return on every dollar invested when putting unconventional wells into production.

A sharp decline in oil prices is pushing oil and gas companies to innovate to increase efficiency and prepare to meet the world’s long-term energy needs, panelists said at the International Petroleum Technology Conference (IPTC) held in Kuala Lumpur, Malaysia, in December.

Oil prices from USD 50/bbl to USD 60/bbl have been sustained for several weeks, and energy-related stocks have fallen significantly below their 52-week highs and 30% below in some cases.

The decline in oil prices will not affect the long-term strategy of national oil companies in the Middle East, ministers and senior executives said at the opening of the 30th edition of Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) held in November.