Tag: oil and gas

Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets.

McDermott International, Ltd announced that Andrew F. Gould has joined its Board of Directors. Mr Gould has more than 40 years of experience in the global oil and gas industry.

The Yamal and Gydan Peninsulas, both of which contain enormous gas reserves, are solidifying Russia’s position in the global oil and gas market. With the advance of the Arctic LNG-2 project, production is expected to increase in the coming years to serve Asian and European demand.

Sandvik has completed the previously announced divestment of Sandvik Drilling and Completions (Varel), meaning the operations relating to the oil and gas industry to the private equity firm Blue Water Energy and its co-investor, the privately-owned Nixon Energy Investments.

TechnipFMC and DNV GL have entered into a partnership to develop the oil and gas industry’s first methodology for qualifying the integrity of digital twin technology.

Energean Oil & Gas PLC (Energean) recently announced the appointment of Iman Hill as Chief Operating Officer. Iman is a Petroleum Engineer with over 30 years’ global experience in the oil and gas industry with extensive expertise in the technical and commercial aspects of the petroleum business, in particular development and production projects.

LLOG Exploration Company, L.L.C. announced that Scott Gutterman, President and Chief Executive Officer of LLOG, informed the company of his intention to retire by September 2018.

In oil and gas exploration and extraction, the materials handling and production systems are constantly subject to corrosion due to contact with acid gases and chlorides at high temperatures.

Over USD 811B will be spent on 615 upcoming oil and gas fields between 2018 and 2025. Globally, capital expenditure (capex) into conventional oil, heavy oil, oil sands and unconventional oil projects would add up to USD 352B, USD 44B, USD 43.

Despite the dip in oil and gas prices, things are going remarkably well in the shale gas sector. Although there have been layoffs and bankruptcies, the demand for natural gas is increasing, and this rising tide is lifting shale in North America and other countries throughout the world. New technologies make the sector more competitive, which is good news for all suppliers to the sector and will stimulate related industries such as water treatment and desalination.