Oil prices rose on Wednesday due to a blockage at the Suez Canal, which prevents normal traffic of oil tankers. Positive data in European purchasing manager indices also help, but concerns that heavy lockdowns in Europe will affect the demand recovery still keep prices lower than few weeks ago.
Rystad Energy expects around 54 000 wells to be drilled worldwide in 2021, a 12% increase from 2020 levels, while in 2022 drilling is set to increase by another 19% year-on-year to about 64 500 wells.
In our inaugural Oilfield Technology Spotlight, Deputy Editor Nicholas Woodroof speaks with Duncan McAllister, Application Engineering Manager at Varel Energy Solutions, and Cody Baranowski, Sales Engineer at D-Tech Rotary Steerable.
Oil prices started the week largely flat due to renewed lockdowns in Europe but, after last week’s painful correction, levels are now more sustainable.
GlobalData's latest report, Morocco Exploration & Production, reveals that Morocco is on the brink of unlocking its gas potential - even though the country is not a major producer and imports most of its gas.
Oil prices fell further on Thursday as a result of continuing doubts over the AstraZeneca vaccine and a rise in US crude inventories.
Diversification, decarbonisation and digitalisation are set to define the future of the UK's oilfield services sector, according to the latest EY UK Energy Services overview.
Gerardo Munoz, Sr. Product Specialist, AspenTech, explains why many organisations in the oil and gas industry cannot afford to let the opportunity to adopt hybrid modelling pass them by.
OGUK has stated that securing and sustaining investment in the sector is now critical to help the UK quickly realise a net-zero future.
Oil prices are declining today as the market fears crude stock levels in the US could rise again and as the speed of the global oil demand recovery is under threat amid Covid-19 vaccination campaign setbacks.
Oil prices kept their healthy levels on Friday as the market is realising that supply is getting tighter compared to the recovering demand, with the first indications evident on Saudi deliveries.
Rystad Energy analysis shows that the world’s top oil and gas employer, China, lost only 5.3% of its massive workforce. The toll in the US was more devastating, estimated at 11.1%, thereby faring worse than its European peers and Russia.
The new partnership will see AGSL and SAMH work together to promote and raise awareness of the mental health cause, and the support SAMH offers to individuals throughout Scotland.
Oil prices continue to rise as the previous day’s OPEC+ meeting paved the way for stock draws and surprised the market.
From the beginning of 2021 and up until the end of 2025, Rystad Energy’s exact forecast is for 592 commitments, with growth across all water depth levels.