Oil & gas news

The power sector has undoubtedly been hit hard by the global credit crunch. The good news is though, that we are now seeing some positive signs of recovery, with the sector beginning to slowly bounce back with more money being invested in new projects.

Electricity generation from solar energy has been around for more than 50 years. Solar power generation will see an exponential growth and the resultant technology breakthroughs and economies of scale will lead to costs which are close to grid parity. Changing industry dynamics provide great value creation opportunities, but taking high quality decisions in the face of uncertainty is critical.

Offshore wind activity is at an all time high. The next two years will see significant year-on-year growth in terms of capacity installed from projects currently under construction. However, the industry is struggling with the costs of development, which have more than doubled in five years.

Australia, with 24 currently active and future LNG projects, could become the second largest LNG producing nation in the world by 2015, according to the International Energy Agency.

The oil and gas sector in South America holds tremendous potential, with at least 110 billion bbls of oil, 272 trillion ft³ of gas and over 250 billion bbls of recoverable bitumen. But that potential often remains elusive for many countries.

Brazilian oil and Australian gas are the hottest ball games in town at the moment. This article reviews activity in these areas and other offshore exploration activity.

Working with a global operator, a Drilling Risk Assessment simulation model has been developed. Executives can now simulate and test scenarios before committing to a course of action.

The Arctic region holds large reserves of undiscovered, technically recoverable oil and gas. Exploration and drilling challenges exist due to harsh conditions and environmental concerns.

The short-term outlook for the offshore oil and gas industry has become more difficult to predict than ever. The last few years saw an unprecedented boom in activity but there is now uncertainty and, in some quarters, despondency.

The sheer potential of geothermal power and its value to the US aids its growing reputation as one of the very best options in the nation's growing energy mix.