Rystad: Shortage of installation vessels as early as 2025
Offshore windThe global wind turbine installation fleet will be undersupplied to meet demand after 2025, reports Rystad Energy. This opens room for more specialized vessel orders and conversions of oil and gas heavy-lift vessels, the analyst...Read more
Coronavirus likely to spur decommissioning frenzy
DecommissioningWith few profitable investment opportunities left as a result of the coronavirus, oil companies will likely increase their spending on decommissioning contracts. Global projects through 2024 could reach a value of 42 billion dollars, say...Read more
More than 200 European oilfield service providers face bankruptcy
More than 200 European mid- and small-sized oilfield service companies face insolvency as Covid-19 will hit the market hard and cut purchases by USD 5 billion year-on-year, a new analysis by Rystad Energy shows. In pre-coronavirus...Read more
Coronavirus likely to hit multipurpose shipping hard too
Amidst the chaos and uncertainty, analysts find it difficult to estimate the exact impact of the coronavirus on the multipurpose and heavy-lift shipping industry but certain is that key markets and competing sectors are heavily...Read more
US offshore wind investments could overtake offshore oil and gas by 2025
Offshore windInstalled offshore wind capacity in US waters could reach 20GW by 2030 and annual investments in the sector could surpass USD 15 billion by the mid-2020s. That would mean capital expenditure in US offshore wind...Read more
Fuel prices skyrocket, but analysts expect spike to be short-lived
Fuel prices have skyrocketed following the drone attacks on Saudi-Arabian oil terminals this past weekend. In major bunker ports like Rotterdam and Singapore prices have shot up as much as 30%, figures from Bunker Index...Read more
Oil prices may fall ahead of 2020, warns Rystad Energy
The oil market is going from gloomy to gloomier, warns Rystad Energy in a new market report. Increased production, economic recession, the ongoing trade war and IMO 2020 together may become a dangerous mix which...Read more
“Offshore project sanctioning ready to reach heights not seen since the USD 100 barrel of oil”
Oil&GasOffshore project sanctioning in the oil and gas industry has already surpassed the USD 50 billion mark in 2019, nearing the investment level of 2014. “This is yet another signal that the offshore industry has...Read more
Economic concerns and high US production lead to oil price drop
Growing fears of an economic slowdown and record high US oil production levels have led to a dropping oil price (Brent) which this week, for the first time since January, dropped below 60 dollars. Although the...Read moreNorwegian oil industry highly optimistic about the future
Oil & GasThe Norwegian oil and gas industry is highly optimistic about the future, shows an economic outlook barometer from SpareBank 1. Especially companies with large exposure to the offshore oil and gas markets expect increased activity...Read more
Trade war jeopardizes forecast wave of LNG shipments
ConstructionThe escalation of the trade war between the United States and China jeopardizes the construction of several mega LNG projects, likely postponing the forecasted wave of project cargo shipments that are needed to build the...Read more2019 discoveries may reach highest level since oil price collapse
Oil&GasOil and gas exploration is off to a flying start in 2019, with the oil majors taking a bigger bite of the conventional resources discovered in the first quarter, says analyst firm Rystad Energy. 2019...Read more