Oil, Gas Players Optimistic on Profits
Companies in the oil and gas sector are optimistic about their ability to achieve their financial targets for 2020, according to a survey from standards agency DNV GL.While the sector’s growth hangs in the balance for 2020, oil and gas leaders are optimistic that they will weather the storm, drawing on hard-earned cost efficiencies from the past five years to make margin.Some 64% predict their organizations will hit profit targets this year (largely consistent with 62% in 2019)…
Revenue Leakage: A Cost of Doing Business or Ripe for Change?
Talk to any business leader in the oil and gas industry and they’ll likely tell you that revenue leakage is an unfortunate cost of doing business. It’s no secret, it’s just something that happens. And most CFOs don’t know that there are solutions that can help them save their companies tons of money, and who doesn’t want that?But this usually requires the implementation of new technologies, not something that the majority of oil and gas professionals often embrace.
US Oil and Gas Industry Confidence Surges
Senior oil and gas professionals in the United States are among the world’s most confident about the outlook for the sector in 2019, as companies prepare for significant increases in capital expenditure (capex) over the coming months.According to a new research published by DNV GL, 85% of sector leaders in the US are optimistic about the industry’s growth prospects in the year ahead, up sharply from 60% in 2018. This compares with three quarters (76%) reporting confidence among respondents globally.Full of confidence…
China’s Oil and Gas Industry to Focus on Environment Impact
China’s oil and gas industry is set to reinforce efforts to reduce environmental impacts of its projects and operationsin 2019, said a research.According to a new research from DNV GL, six in ten (61%) senior oil and gas professionals in China say their organizations are actively preparing for the transition to a lower carbon energy mix compared to 51% globally. Industry leaders’ focus on decarbonization aligns with the Chinese government’s new ‘Blue Sky’ plan to tackle…
What does Trump's Presidency Mean for the Power Industry?
Donald Trump has promised numerous changes, many of which impact the sectors that NES Global Talent operates in. Although he has only been in office for 39 days at the time of writing, he has already made numerous policy adjustments. In a recent NES survey, 63% of oil and gas professionals felt Trump’s government will have a positive effect on the oil and gas industry and 64% from the U.S. felt more confident about their job prospects as result, but we also wanted to get an expert opinion on how Trump's government may effect the power market.
Hundreds of Delegates to Attend First OSCC in Kuala Lumpur
In less than two weeks’ time, around 500 oil and gas professionals from around the world will meet in Malaysia to discuss whether current thinking and practices used by the sector to ensure the safety of its workforce are fit for today’s new industry landscape as well as the future. The 2016 OPITO Safety & Competency Conference (OSCC), staged with official event partner PETRONAS, will take place at The Royale Chulan, Kuala Lumpur, Malaysia, on Wednesday, November 16th.
From Engineer to Sommelier: Calgary's Laid-off Oil Workers try Plan B
Alejandro Rodriguez wants to be a sommelier. His previous experience: 20 years as an oil reservoir engineer. The 42-year-old needed to consider a career plan B after ARC Resources Ltd laid him off in January, adding to a growing number of people in the Canadian city of Calgary, Alberta who no longer have a place in its once-vibrant oil and gas industry. Once lured by high pay and a multitude of opportunities, many job seekers in Calgary often have one mission these days: get out of the industry and never return. "I see this as an opportunity to go for the passions you may have.
O&G Sector Needs Cost Management Discussion: DNV GL
A majority of senior oil and gas professionals (56%) believe that the industry is repeating the mistakes of previous downturns and have concerns over the loss of jobs and experience and lack of efficiency, according to a new report published today by DNV GL, the leading technical advisor to the oil and gas industry. A new phase of cost management is needed, as nearly three quarters (73%) of senior oil and gas professionals globally are preparing their company for a sustained period of low oil prices.
Mass Layoffs Complicate Oil Industry's Long-Term Plans
"This is the really crappy part of the job, and this is what I hate about this industry frankly," the chief executive of oilfield services company Baker Hughes complained as he announced it would lay off 7,000 employees. Baker Hughes is cutting jobs in response to slumping prices and a downturn in drilling activity. So the company will cuts costs, he told investors in a conference call on January 20 to discuss the firm's fourth-quarter earnings and outlook for 2015.
Students to Compete for SPE Energy Apprentice 2014
Around 66 students from universities across Scotland will compete to be named the 2014 Energy Apprentice in a competition organized and hosted by the Society of Petroleum Engineers (SPE) Young Professional Aberdeen Section Committee. Sponsored by Total, the event will provide students with a unique opportunity to test their oil and gas knowledge and experience situations similar to those encountered in a graduate employment interview. Students will be challenged throughout four rounds which will include technical questions…
Solutions Store's Spence to Present at SPE Workshop
People development expert to present at unique event set to examine discrimination in the oil and gas industry. Emma Spence, the founder and director of the people development consultancy, Solutions Store, will present at the Society of Petroleum Engineer’s first of its kind event which is to focus on workplace discriminatory challenges affecting the oil and gas industry. The workshop, ‘Breaking the Cycle of Discrimination - Workplace Challenges in the Oil and Gas Industry’…
New DNV GL Regional Manager in S. America
Alex Imperial has taken over as DNV GL Oil & Gas’s regional manager for South America just as the company is creating a dedicated research unit in Brazil. Imperial recently left Singapore, where he was Director for DNV GL’s Deepwater Technology Center, to take over DNV GL’s Oil & Gas Division in South America. Experience from his last position will benefit his new role as the new dedicated Research unit means that research will be one of the DNV GL’s focus areas in Brazil.
Use a new EOR technology brings award for BP
In recognition of the breakthrough new enhanced oil recovery – or EOR – technology, BP has been presented with the Distinguished Achievement Award. The award was presented on 4 May, 2014 at the Offshore Technology Conference (OTC) in Houston, Texas. This is the second time in four years that BP has won the award at this major annual gathering for oil and gas professionals. BP's plans to use the new enhanced oil recovery – or EOR – technology from day one of operations at the Clair Ridge field west of Shetland…
Oil & Gas Industry Hindered by Lack of Skilled Personnel: New Research
Amid a positive outlook for the industry in 2014, senior oil and gas professionals have predicted that a deficit of skilled professionals will be the biggest barrier to the growth of their businesses in 2014, according to the research report 'Challenging Climates' released by DNV GL. The industry’s dwindling pool of engineering talent has topped industry leaders’ list of professional concerns for a second year running; a trend that is driving up salaries to unprecedented levels in some areas.
