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Offshore hirings are booming again

According to Rystad Energy, the current offshore recovery entails that major service companies are now hiring more staff for offshore positions than in shale. But attracting talent is far from cost-free.

New offshore projects could surpass 2014 record

Offshore project sanctioning has gained traction and may well overtake the record level from 2014 this year, assesses Rystad Energy. Led by Saudi Aramco, new projects have so far surpassed USD 50 billion in 2019.

2019 could bring oil discoveries back to 2014 levels

35 wells are expected to be drilled and explored during 2019, which according to Rystad Energy could bring the year's discoveries back to the level seen before the oil price collapse in 2014. February already saw the highest number in more than three years.

Oil companies are making money like never before

Listed oil majors' free cash flows reached an all-time high last year, even though oil prices have only partly recovered after the 2014 drop, according to new analysis from Rystad Energy. Three factors have been crucial for this development.

The need for LNG could double in a decade

The world's need for LNG could be nearly doubled by 2030, projects Rystad Energy. The development could increase demand for shipping companies transporting the liquefied natural gas.

Oil from new fields could triple in 2019

The production of oil and gas from new fields could triple in 2019 compared to the year before, projects analyst firm Rystad Energy, though it also warns that just a few mega- projects are pulling the load.

Batteries make debut in drilling rig market

West Mira will become the world's first offshore drilling rig to utilize onboard batteries, reducing CO2 emissions and cutting fuel consumption, says Siemens, the purveyor of the technology.

Rystad expects big surge in oil price by 2020

The oil price will increase steadily toward 2020, projects analyst firm Rystad Energy. After this, the oil price will slide, and this will happen years earlier than the firm previously expected.

Analyst: remarkable development at Borr Drilling

"It is remarkable what Tor Olav Trøim has achieved in such a short amount of time," writes analyst firm Rystad Energy about the news of Borr Drilling's acquisition of Paragon Offshore. Another analyst describes the acquisition as unexpected.

US shale boom puts pressure on the entire industry

US shale oil is now being produced at such a rate that it could threaten the stability currently enjoyed by the sector, projects Rystad Energy. One of the major suppliers of offshore rigs, shipbuilder Keppel, does not see a recovery anytime soon.

Liquid oil and gas discoveries at lowest level since the 1940s

The oil companies' discoveries of new liquid oil and gas resources have declined 90 percent since 2010 and are now hovering at the lowest level since the 1940s, according to Rystad Energy. The Norwegian shelf in particular has disappointed in 2015 and 2016.

Rystad: Global oil production set to slide now

The consequences of the oil companies' investment stop mean that the global oil production will start to decline this year. The result will be oil prices in the range of USD 80-100 in the near future, Rystad's chief analyst tells ShippingWatch at the Norwegian offshore conference ONS 2016.

For sale: Norwegian oil activities for USD 6.5 billion

A new acquisition wave could emerge in the North Sea where oil majors are prepared to divest on a large scale, says Rystad Energy after Tellus Petroleum's purchase of several oil activities from Wintershall. Oil activities for upwards of USD 6.5 billion for sale, notes the company.

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