Monthly Archives: February 2015

Shutting the gate might have helped

I’m rather glad about this: The family of two Britons killed in a terrorist attack on the In Amenas gas plant in Algeria reportedly intend to sue UK supermajor BP over an alleged lack of adequate security measures at the facility. It follows a UK inquest this week into the deaths of seven Britons killed in the armed siege that heard “unnecessary and intentional” delays meant government intelligence about terror plots to kidnap British workers in Algeria was not passed […]

Double Hull, Double Standards

There’s something a bit odd about this whole Pieter Schelte business: Allseas Group president Edward Heerema said late Friday that the company would change the name of the giant platform installation and removal vessel Pieter Schelte after an uproar over the Nazi ties of the ship’s namesake. The twin hull unit, billed as the the world’s largest marine vessel, was christened after Heerema’s late father, Pieter Schelte Heerema – a Dutch pioneer of the offshore construction industry who also served […]

Igor a presentation for you

The Streetwise Professor has been pointed in the direction of a presentation made by none other than Igor Sechin at the recent International Petroleum Week held in London (shame the EU didn’t replicate the US travel ban).  As the Prof notes, Rosneft has rather naively posted the presentation on its website here (in case it gets removed, there’s a copy here). On Slide 2 of the presentation we have a long-winded disclaimer which looks as though it’s been copied and […]

I know-a nothing!

In amongst all this doom and gloom there’s a bright ray of sunshine for one company: Saipem has finally secured the $1.8 billion contract to construct a pair of pipelines at the giant Kashagan project in Kazakhstan’s Caspian Sea region. The Italian contractor has been handed the deal to build the two 95-kilometre pipelines by the North Caspian Operating Company (NCOC), Kashagan’s operator. Now that’s a nice little contract, isn’t it? Saipem was thought to be in pole position to […]

Back to the ’70s!

When the idea of the EU regulating offshore oil and gas activities first raised its head several years ago, it was met with opposition from those in the industry who were skeptical that a bunch of bureaucrats in Brussels could do a better job than the existing national regulators.  Surprisingly the most outspoken opponents were the French, albeit obviously with an eye on their substantial UK North Sea presence: French oil major Total has strongly criticised the European Union plans […]

Aberdoom

Well whaddya know, former BP boss John Browne reads this blog: UK North Sea costs have “gone out of control” and some companies are bound to go bust in the current low price environment, former BP chief executive John Browne has said. … “Industries where there’s so much money floating around inevitably become a bit bloated and they have to slim down.” A point I made less than two weeks ago: Having enjoyed an oil price sustained around $100 for […]

Cry ‘Havoc!’

It is well known among those familiar with military history that those who excel in a peacetime army are often useless during wartime.  The reason for this is the personalities and skills required to succeed in the intensely political and bureaucratic environment of an army at peace are completely different from those required to ensure the same army prevails when the bullets start to fly.  As such, when an army embarks on the first campaign of the war it often […]