With the oil and gas industry under pressure, manufacturers are turning to additive manufacturing for reduced costs and shorter timeframes. Gas turbines sit at the heart of power plant operations. A mixture of fuels, such as diesel, kerosene and liquid petroleum gas, is heated at high temperatures until a rush of hot air is produced, […]
Oil prices hit their highest level since 2014, moving above $74 a barrel and lifting energy companies to the top of global stock indices. Production cuts by Opec and Russia over the past 16 months have helped crude prices rally, with the latest increase spurred by rising risks to supplies, from Venezuela’s economic crisis […]
The oil and gas industry regulator has raised its forecast of what can be recovered from the waters around the UK over the next three decades. Changes in the way the sector operates are thought to have unlocked the potential for a further 2.8 billion barrels of oil or the gas equivalent. It is […]
Bans around the world on single use plastic items such as carrier bags will dent growth in oil demand over the next two decades, according to BP. The UK-headquartered oil and gas firm said it still expects the global hunger for crude to grow for years and not peak until the late 2030s. The […]
Brent Crude hit a three-year high of $70 a barrel at the beginning of January, but there are questions about this rally’s resilience. Higher prices threaten to unleash a new wave of US shale output in response. “The higher the prices go, the harder the shale producers pump,” Tamas Varga at London-based broker PVM, […]
The shale revolution in north America means the US is destined to become a net oil exporter within 10 years, for the first time since the 1950s. The International Energy Agency said it expected that American oil production between 2010 and 2025 would grow at a rate unparalleled by any country in history, with far-reaching […]
The oil and gas offshore industry regulator has reduced its estimates of the amount of known oil and gas left under UK waters. The amount in known reserves and capable of extraction has dropped from 6.3 billion barrels to 5.7 billion, over the year to the end of 2016. The central estimate by the Oil […]
Opec expects stronger demand for its crude oil next year due to stronger consumption growth and lower estimates for supply from outside the cartel, as prices near $50 a barrel boost driving and crimp output. The cartel’s monthly market report said its in-house analysts see demand for Opec’s oil reaching 33.1m barrels a day […]
North Sea oil and gas producers have pulled out of the “death spiral” that had threatened to send the basin into precipitous decline according to industry leaders. However, exploration remains at its lowest level since the 1970s and the UK faces a battle to compete against lower cost oil and gas elsewhere in the […]
Maersk Oil announces it is on track to deliver first gas from a major North Sea oil field in 2019. The Culzean field, which lies around 145 miles east of Aberdeen is expected to produce 60-90,000 barrels of oil per day. Maersk claimed the field could meet 5% of the UK gas demand by 2020-21.
