Tag

producers

Article, Corporations, Economy / Finance, Organizations

Offshore drilling prospects dim amid productivity focus

May 8, 2016

The annual Offshore Technology Conference in Houston is one of the premier expositions of breakthroughs that enable oil and natural gas producers to reach deeper into the ocean faster, cheaper and safer. Unfortunately for the vendors displaying new implements at NRG Park this past week, the prolonged downturn in oil and gas prices makes it difficult for producers to expand their tool kits when they’re cutting investments and personnel. Bernard Looney, the chief executive for BP’ s global upstream operations, acknowledged as much in his presentation at the event. (Read more)

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by Bill Loveless
Article, Economy / Finance

A bottom for oil prices? Producers seek signs

March 16, 2016

The recent oil price rally raised hopes among producers that the worst may be over when it comes to a slump that has persisted for 14 months now. Even the venerable International Energy Agency suggested recently that oil prices may be on a rebound after having fallen below $30 a barrel earlier this year. “For prices, there may be a light at the end of what has been a long, dark tunnel,” the IEA said in its March oil report. “But we cannot be precisely sure when in 2017 the oil market will achieve the much-desired balance.” (Read more)

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by Bill Loveless
Article, Corporations, Energy

U.S. impact after oil exports resume? Jury’s out

December 16, 2015

U.S. oil producers are preparing to celebrate the end of 40 years of restrictions on exports of crude oil, thanks to a provision in a massive government spending bill awaiting congressional approval. With oil prices recently at seven-year lows and showing no signs of recovery soon, domestic producers say the policy change would give them the same access to global markets that their foreign competitors have enjoyed for years. But the benefits may be more hypothetical than certain, at least for now. (Read more)

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by Bill Loveless