Company News
Not Enough Women In Oil and Gas Sector
Monday 23rd April 2018
Adrankone
It shouldn’t matter whether you order your hy lok valves off a man or a woman, but there is still a significant lack of women in the oil and gas sector. The reasons behind this are myriad, but they have been receiving a lot more attention in recent months. Katie Williams, partner at Pinsent Masons in Aberdeen, says drives to increase the number of women in the industry are working. She said: “In the last…
Manufacturing Makes Up 23% Of UK Economy
Monday 16th April 2018
Adrankone
The manufacturing sector in the UK accounts for 23 per cent of the economy, new research has revealed, with 48 per cent of exports manufactured goods. A new study, carried out by the Manufacturing Technologies Association, has found that manufacturers also make up nearly 70 per cent of all spend in research and development investment in the UK. James Selka, CEO of the organisation, noted that the industry has succeeded in creating a “wealth that is irreplaceable”…
UK Oil And Gas Firms Failing To Invest In Tech
Wednesday 11th April 2018
Adrankone
A new report from the Oil and Gas Authority (OGA) has revealed that the majority of firms operating on the UK continental shelf (UKCS) are not investing in new technology, instead relying on organisations in their supply chain to introduce innovations. Energy Live News highlighted the research, which found that 70 per cent of operators on the UKCS were failing to invest in research and development in 2016. In fact, 11 per cent of the businesses surveyed…
Saudi Aramco And CLG Announce New Oil Processing Venture
Wednesday 4th April 2018
Ravid
Chevron Lummus Global LLC (CLG) and Saudi Aramco have officially started their Luberef II Yanbu Refinery Expansion Project. Hydrocarbon Engineering reported on the scheme, whereby CLG is bringing its hydroprocessing technologies to the expansion, which will work alongside technology developed by Saudi Aramco to enable the production of premium Group II and Group III base oils. This is a significant step for Saudi Aramco, which until now has only been able to produce Group I base…
Statoil Reveals Plans To Change Name Following Environmental Strategy Shift
Wednesday 21st March 2018
Ravid
Norwegian oil and gas giant Statoil has announced its plans to change its name to Equinor to reflect its shift to adopt more of a low-carbon energy strategy. The proposal was announced last week and will be suggested to shareholders at the Annual General Meeting on May 15th. It already has the support of the government, which approves of the formation of the name and what it stands for. Indeed, Equinor was chosen due to ‘equi’ signifying…
Demand For Oil And Gas Continues To Rise
Monday 19th March 2018
Ravid
Environmentalists have been raising concerns about the oil and gas industry for some time, but this has not dampened demand for the sector, with consumption levels still high. Raconteur.net has reported there is continued optimism for the market, due to a rise in energy demand across the world and a growing global population. International Energy Agency (IEA) chief economist Laszlo Varro said: “When you tell a story about the future, unavoidably you make assumptions. Over…
UK Set To Become Net Crude Oil Exporter For 1st Time In 14 Yrs!
Thursday 1st March 2018
The UK’s crude output look set to exceed one million barrels a day once new North Sea projects come on stream later this year – a move that could see the country become a net crude oil exporter for the first time in 14 years. Forecaster JBC Energy GmbH said that on a net trade basis, this crude output will soon mean that overseas sales can overtake imports, although it’s not yet known by how much…
DEA Plans Investment In Egyptian Oilfields
Wednesday 14th February 2018
Energy group DEA has revealed that it intends to plough more investment into developing oil fields in Egypt, Reuters reported. The firm, which has been operating in the country since 1974, plans to invest almost $500 million (£361 million) over the next three years. The money will be used to develop the oil fields it’s already working on - the West Delta, Desouk and Gulf of Suez fields. DEA partners with BP in the West Nile Delta…
Valve Issue Temporarily Closes Forties Pipeline
Monday 12th February 2018
The Forties North Sea oil pipeline suffered a second closure this month, although was back online relatively quickly after needing to be shut. This time, a valve was responsible for the closure, which happened on Wednesday 7 February. However, engineers fixed the issue and it was back up and running by 8 February. INEOS, which operates the pipeline through which approximately 450,000 barrels of oil are pumped a day, issued a statement at the time of the…
Guvnor Plans Upgrade At Rotterdam Refinery
Tuesday 30th January 2018
Guvnor has been given provisional permission to make alterations to its fuel upgrading unit at its refinery in Rotterdam, with the company’s aim to have a facility that enables it to turn high-sulphur fuel into other forms of diesel. Reuters reported on the plans, after the news agency saw a document relating to the proposed changes. The International Maritime Organisation (IMO) is set to bring new rules into force in 2020 to reduce sulphur emissions from…
