News

Onshore Spending on the Cusp of Recovery?

Posted on August 26, 2016

Onshore Spending on the Cusp of Recovery? DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will see the start of a barren period for the offshore OFS and OFE sectors. In line with previous editions of the report, a significant drop in…read more

Leaner Downstream MMO Sector Sees Renewed Activity

Posted on August 25, 2016

Leaner Downstream MMO Sector Sees Renewed Activity Douglas-Westwood has today launched its new World Downstream Maintenance Market Forecast which paints a positive outlook for the downstream asset maintenance market through to 2021. The industry is emerging from a period of aggressive cost pressure and is now seeing renewed activity. Lower margins are improving asset owner…read more

DW Monday: Fracking’s Future

Posted on August 22, 2016

Hydraulic fracturing has been a hugely controversial subject in many countries and has increasingly become the focus of legislation in the US. The state of Colorado has seen the most recent push for new restrictions – activists have obtained over 200,000 signatures to introduce two new initiatives on Colorado’s November 8th ballot. If passed, these…read more

Forecast FLNG spend of over $41 billion following wave of landmark projects

Posted on August 15, 2016

Despite challenging market conditions, global capital expenditure (Capex) on FLNG facilities is forecast to increase significantly over the 2016-2022 period. The protracted oil price downturn has impacted the sanctioning of capital intensive liquefaction units over the last 24 months. However, the need to move towards cleaner sources of energy and diversify gas supply has stimulated…read more

DW Monday: Downstream Dilemmas

Posted on August 15, 2016

Record levels of drilling and production – particularly in the US – were fundamental factors in the downturn that swept across the oil and gas industry over the last 18 months. Much of the crude oversupply has been sent into storage – either at refining bases, storage hubs, strategic reserves or moored in crude carriers….read more

AUVs: A Bright Spot in Uncertain Times

Posted on August 8, 2016

In a difficult time for companies operating in the oil & gas market, finding sectors that are performing well can be a challenge. However, there are technologies that are finding success – despite the struggles seen elsewhere. Autonomous Underwater Vehicles (AUVs) have evolved in the last few years from an emerging technology with niche uses,…read more

DW Monday: Threat to Oil Price Recovery Rises from the Seas?

Posted on August 8, 2016

There is a general consensus amongst industry analysts that the oil oversupply creating the current market downturn will narrow by the end of 2016. Douglas-Westwood (DW) data support this view, with our World Drilling & Production Market Forecast showing the first oil production decline in 2016 since 2009 – when OPEC strategically cut output in…read more

In the News, 5th August 2016

Posted on August 5, 2016

Douglas-Westwood was referenced on a large number of sites this week with a range of reports mentioned, as well as our recent webinar:  Jason Waldie was quoted in Rigzone this week: “Russia needs outlets for its crude production as the country attempts to maximize output. The move is necessary due to the high breakeven costs…read more

DW Monday: Libya – Oil industry in revival?

Posted on August 1, 2016

As battle lines were drawn during Libya’s long civil war, Libya’s National Oil Company (NOC) was split between East and West, with opposing governments in Tripoli and Torbruk competing over oil revenues. Libya holds Africa’s largest proven reserves of crude, however, ongoing conflict has seriously disrupted oil production and exports – Libya currently produces just…read more

In the News, 29th July 2016

Posted on July 29, 2016

A large number of reports where referenced in the news this week, including the OFE and Land Rig reports:   One report in the news this week was the recently released World Oilfield Equipment Market Forecast: “OCTG – including drill pipe, production tubing and well casing – expenditure has been hit hard by the downturn…read more

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