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...“Although the demand for oil and gas falls in all three scenarios, natural decline in existing production implies that continuing investment in new upstream oil and gas is required in all three scenarios...
...For Wärtsilä, the exposure is concentrated on LNG ships and Offshore vessels is 7% and Gas Carriers 14% of last year’s equipment order intake in Marine....
...It has become the industry’s bright spot amid a dearth of orders for offshore oil rigs and production facilities since oil prices slumped in 2014....
...Even though large-scale oil and gas developments have picked up over the past 18 months, just one new LNG project was approved in 2017, the research firm Rystad Energy said this week....
...Growing demand for large-size container ships is welcome news for beleaguered shipbuilders, with orders for oil tankers and natural gas carriers finally coming in....
...These advances have become too significant for the oil and gas industry to ignore....
...Oil and gas producers have been putting pressure on all their suppliers and, whenever possible, delaying projects — especially the more costly offshore ones....
...Companies that specialise in serving the offshore industry, including Technip of France and FMC Technologies of the US, are facing a prolonged period of downward pressure on revenues from the oil and gas...
...On the other side of the spectrum, energy shares were lifted by a rally in the price of brent crude oil. Transocean, one of the biggest offshore drilling contractors, jumped 7.3 per cent to $15.76....
...Keppel said: “In Brazil, the offshore and marine industry is facing unprecedented challenges....
...“It’s a massive opportunity,” Mr Dawson said, adding that he was reminded of the beginning of the oil and gas industry in the 70s....
...Separately on Monday, Transocean, one of the world’s largest offshore drilling contractors, said chairman Michael Talbert planned to step down this year, in another last-minute concession before its annual...
...And that figure pales into insignificance against the $644bn in global spending on oil and gas exploration and production forecast for this year by Barclays....
...Cabot Oil & Gas led fallers, off 11.2 per cent to $69.62, SouthWestern Energy fell 8 per cent to $29.92 as RW Baird analysts downgraded the stock to “neutral”, and Range Resources fell 6.3 per cent to...
...BP, which has always denied gross negligence, has set aside $41bn for total estimated costs associated with the accident....
...Two previous out of court settlements were also applied to the fund – $1bn from another minority partner in the well, Moex Offshore, a subsidiary of Japan’s Mitsui, and $75m from contractor Weatherford International...
...Bain & Co this week announced the opening of its Rio office, which will specialise in oil and gas....
...Transocean, the world’s largest offshore drilling contractor, which owned and operated the Deepwater Horizon rig that exploded on April 20, saw one of the steepest declines of the year, falling 90 places...
...For him, the argument is clear: the government wants to diversify the economy, and oil and gas present an enormous opportunity....
...While oil and gas is a vital element of subsea sector activity, developments in renewables, such as offshore wind, offer great possibilities....
...The companies include Royal Dutch Shell, Europe’s largest oil and gas group; Transocean, the world’s largest offshore drilling contractor; and Panalpina, the international freight group based near Zurich...
...for an installation contractor (vessel owner) to own manufacturing capacity (indeed oil companies often specify a preferred pipe supplier)....
...Japan Drilling, an offshore oil and gas drilling contractor, plummeted 7.1 per cent to Y3,275, the lowest close since its listing in December....
...The six-month moratorium on offshore drilling announced by Barack Obama, president, on Thursday will cut US oil production and hit the revenues of oil and gas companies for years to come....
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