Operator budgets tighten, but Downstream Maintenance spend still sees rise

Posted on May 26, 2015

Operator budgets tighten, but Downstream Maintenance spend still sees rise Douglas-Westwood are forecasting global downstream asset maintenance expenditure to total $322bn between 2015 and 2019, an increase of 12% when compared to the previous five-year period. In 2014 spend totalled $63billion (bn) for the world’s global downstream population of approximately 13,000 facilities. Over the next…read more

DW Monday: New Offshore Wind Blowing in North America

Posted on May 25, 2015

For the US energy industry, 2014 will be remembered as the year when crude oil prices fell below 50 $/bbl, resulting in significant realignments in the sector. Aside from the oil price collapse and the historic high of domestic natural gas production, several other energy records were set last year. Both solar and wind reached…read more

In the News, May 22 2015

Posted on May 22, 2015

This week saw a chart from the Deepwater report used in Franks International’s Q2 2015 presentation as well as articles on the Energy 2050 project that DW is part of:  The DW Monday from May 4th was quoted in the Australian Financial Review this week: “According to consultancy DW, since oil prices started declining in…read more

DW Monday: The U.S. Oilfield Services Rebalancing Act

Posted on May 19, 2015

When the price of oil started its tumble late last fall so too did the oilfield services (OFS) market. The rig count in the U.S. has been halved compared to this time last year and operators are struggling across the board to cut costs in this low price environment. Some of the major U.S. shale…read more

In the News, May 15 2015

Posted on May 18, 2015

There have been a lot of references to Douglas-Westwood in the news this week including four different features in this month’s Offshore Magazine:  An article by Mark Adeosun about Douglas-Westwood’s World Deepwater Market Forecast 2015-2019 was featured in this month’s Offshore Magazine: “Douglas-Westwood (DW) expects deepwater Capex to rise post-2016, driven by the continued development…read more

DW Monday: Oilfield Services in a Holding Pattern as E&P Searches for Equilibrium

Posted on May 11, 2015

When oil prices dramatically dropped in the fall of 2014, operators began to significantly alter their plans. As months passed, many thought oilfield service providers would gain clarity on the upstream situation and begin to develop their own strategic plans. However, as we have progressed toward mid-2015, as answers have been obtained, many new questions…read more

In the News, May 8 2015

Posted on May 8, 2015

Mike Haney’s speech at OTC was featured in a number of newspapers, including Upstream and The Houston Chronicle, while the BBC had a story that referenced three different DW reports: BBC News quoted Douglas-Westwood’s World Subsea hardware Market Forecast, World Floating Production Market Forecast and World Offshore Maintenance, Modifications & Operations Market Forecast as well as this…read more

DW Monday: Layoffs and Another Lost Generation?

Posted on May 4, 2015

The oil & gas industry currently suffers a shortage of mid-career professionals primed for leadership & supervisory roles, the legacy of the last oil price downturn in the 1980s to mid-90s. At that time the industry endured significant job losses, and hiring came to a standstill. As a result of the limited talent added, the…read more

In the News, May 1 2015

Posted on May 1, 2015

A number of our reports, both new and old, have been featured in articles this week: The World Floating Production Market Forecast was featured in two separate articles: “Investments in floating production systems worldwide are set to soar to $21billion in 2017, up from $12billion this year.” Offshore Magazine April 2015 Doulgas-Westwood was quoted in an…read more

Oil Production Weighs Heavy on Venezuela

Posted on April 28, 2015

Oil Production Weighs Heavy on Venezuela Friday 24th April 2015 Few countries have been hit harder by falling crude oil prices in recent months than Venezuela; an OPEC member and the holder of the world’s largest volume of oil reserves. Hostile nationalisation, spiralling national debt, soaring inflation and an under-developed downstream sector have all contributed…read more

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