Categotry Archives: The Oil Industry

The Varying Standard of Expats

In among a series of rather haphazard comments on this post, reader Kale Sid raises a point which is worth discussing further: the … system that perpetuate mediocrity over excellence in the name of local content allows some nitwit from elsewhere that are not qualified to be painters in their countries to lord themselves around as ” expats”. Unless I am mistaken, what I think Kale Sid is saying is that countries which have stringent local content laws end up employing […]

Downsizing

Jake in January 2015: I am not convinced the future of the oil industry lies solely with giant, complex mega-projects in very challenging locations. …   With countries being able to raise their own financing and smaller, cheaper, faster projects becoming the norm, the lumbering giants which have dominated the industry for a century might find their opportunities drying up in the coming years as sleeker, more efficient companies provide the right mix of technology, delivery, and cost. Such a […]

Patrick’s posers

Last week Total’s CEO Patrick Pouyanne wrote an article in LinkedIn which is worth taking a look at: Investments by the major oil companies are being scaled back in response to falling prices, which means they will no longer be able to offset the natural decline of currently producing fields. This is a rather frank admission coming from the CEO of one of the major oil companies which has done just that.  But alas he doesn’t tell us why, if […]

Firefighting

If a farmer receives a call from a neighbor that one of his sheep has escaped and is standing in the road, he will go out, fetch the sheep, and put it back in the field where it belongs.  Most likely the farmer will then make a tour of the hedgerows and fences to see where the sheep got out, and close up the hole when he finds it.  Certainly, if he gets two such calls about his sheep standing […]

Roundup

Christopher Helman at Forbes speaks sense on two issues.  Firstly, the witch hunt against ExxonMobil by the eco-loons: But let’s get real. See this for what it is — a witch hunt against a big company with deep pockets that the anti-carbon lobby wants to fleece to support their pet renewable energy projects. Go read the whole thing. And secondly, Obama’s decision to deep-six the Keystone XL pipeline: Rail is not as safe a method of moving oil as pipelines are, […]

Gosplan revisited

There’s some real bollocks being peddled in Britain’s Daily Telegraph by Ambrose Evans-Pritchard ahead of the climate jamboree in Paris: The fossil fuel industry has taken a very cavalier bet that China, India and the developing world will continue to block any serious effort to curb greenhouse emissions, and that there is, in any case, no viable alternative to oil, gas or coal for decades to come. Why might that be? Both assumptions were still credible six years ago when the Copenhagen climate […]

Blah, blah, blah

According to Upstream Online: A climate strategy is needed, and quickly It is? The topic under discussion is the Oil & Gas Climate Initiative, which I wrote about here. This is not all “blah, blah, blah,” argued Repsol chief executive Josu Jon Imaz San Miguel when talking in Paris last week about an oil industry initiative to help tackle climate change. No?  We shall see. The Spaniard was one of the oil and gas industry leaders who stuck their heads above […]

Get off your knees!

This is not good news for anyone who holds stock in the companies concerned: The leaders of 10 of the world’s biggest oil companies have offered their qualified support for a new global treaty on climate change. The producers of 20% of the world’s oil and gas say they share the ambition to limit warming to 2C. They promise to work to reduce the greenhouse gas intensity of the global energy mix. … The Oil and Gas Climate Initiative represents […]

And everyone will have a pony

This, from the clot running Greenpeace, deserves a proper fisking: The world can more than afford to switch to 100% renewable energy as the savings in fuel usage will outweigh the cost of switching from fossil fuels, a new Greenpeace-backed study has claimed. Erm, if 100% renewable energy is cheaper than fossil fuels, then what is the “cost of switching from fossil fuels” he is talking about?  If it’s cheaper to switch to renewables, then there are no costs of […]

It’s not only independence they’re deluded about

Somebody needs to pass a message to the good folk of Aberdeen that the 1990s are over: ALMOST three-quarters of oil and gas workers are considering looking for work outside the UK because the North Sea industry continues to suffer from plunging oil prices, according to a survey. The research by industry website Rigzone found 71 per cent of respondents across the UK are thinking about a move overseas, with a lack of job security cited as the main reason […]