• 3 minutes Marine based energy generation
  • 5 minutes "Saudi Armada heading to U.S.", "Dumping" is a WTO VIOLATION.
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Which producers will shut in first?
  • 1 hour A small trial finds that hydroxychloroquine is not effective for treating coronavirus
  • 7 mins The GREAT OPEC+ Agreement
  • 4 hours US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 11 hours Saudis to cut 4mm bbls. What a joke.
  • 2 hours Trumps Oil Industry....
  • 20 mins Chinese Communist Party
  • 10 hours Saudi Arabia Is Buying Up European Oil Majors
  • 8 hours Trump will be holding back funds that were going to W.H.O. Good move
  • 9 hours Russia's Rosneft Oil is screwed if they have to shut down production as a result of glut.
  • 2 hours Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 11 hours Occidental hypocrisy
  • 6 hours Corona Price Tag
  • 15 hours Sharp real pure true hard working roughneck needing work..
Demand Destruction Will Decimate Oil Prices

Demand Destruction Will Decimate Oil Prices

The long-term ramifications of the…

The Oil Price Crash Won’t Stop The Tesla Boom

The Oil Price Crash Won’t Stop The Tesla Boom

Low gasoline prices are generally…

UK Reviews North Sea Oil Rigs to Determine How to Increase Production

UK Reviews North Sea Oil Rigs to Determine How to Increase Production

Ed Davey, the secretary of state for energy and climate change, has announced that the UK’s oil rigs in the North Sea face challenges if they are to continue producing at a decent rate, which he believes possible. On Monday he said that “although we have produced a lot of barrels in the North Sea, there is an awful lot there still to be produced as well.”

He has commissioned a review into how oil production in the North Sea can be maximised. According to the Guardian, the report, due in early 2014, will consider the falling exploration and production rates, ageing infrastructure, declining efficiency, and the risk of premature decommissioning, “all these challenges need to be addressed if we are going to get the maximum economic benefit from the UK,” stated Davey.

Related article: Canadian Company Strikes Deal for LNG Exports to Europe

Sir Ian Wood, a 45 year veteran oilman from Aberdeen, who retired last year from his position at the Wood Group oil and gas services company his grandfather founded, will lead the review. He will use his expertise to advise how to; extend the life of existing infrastructure, improve efficiency, and use alternative and enhanced techniques to extract tighter oil.

Malcolm Webb, the CEO of Oil & gas UK, warned that the North Sea will never return to its prime, when it was producing 4 million barrels of oil equivalent (BoE) a day in 2000, but he has faith that production could rise from the current 1.5 million to 2 million BoE by 2017. “Too many people have decided because we are now mature … that we are somehow over the hill and nothing could be further from the truth.”

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News