Barclay's Oil & Gas: Cautiously Optimistic

press release
Monday, November 21, 2011

Walter Cumming, head of oil and gas, Barclays Corporate, weighs in.

 

The theme of cautious optimism remains as we move towards the end of the year and all eyes are on the 2012 budget as the industry hopes to see longer-term certainty and clarity in areas such as decommissioning. The North Sea still presents significant investment opportunities. The stable commodity price and the discovery of new plays in the Norwegian and UK sectors have given buyers the confidence to engage in further activity and acquisitions. For banks, the appetite to lend continues to grow, particularly for companies with good business propositions and diverse portfolios.

 

However many assets are approaching retirement age, and as decommissioning activity on the UK Continental Shelf unavoidably becomes more of an issue, operators and field partners will potentially view this as a growing factor in investment and M&A decisions. We need to avoid situations where decommissioning is the deciding factor for potential purchasers. Technological advances provide increasing opportunities to exploit remaining reserves. It would be disappointing to see decommissioning actioned, or brought forward, on assets that could remain rewarding through more flexible or innovative approaches.

 

The challenge is to enable decommissioning but ensure and facilitate increased activity in the province, maximising hydrocarbon production and extending the life of the UK Continental Shelf.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Offshore

Shipping Industry Flying On The Dragon’s Back

As the many Greek players in the shipping industry know well, the legend of Icarus tells us the dangers of flying too high. Merchant vessel earnings eventually

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Sembcorp Profit Halved as Clients Defer Projects

Revenue falls 30 pct; order book at S$9.7 billion. Singapore rig-builder Sembcorp Marine's quarterly profit halved as customers deferred projects, and it faces

Energy

Oil Price Bottoming Depends on Global Growth - IEA chief

International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth. Asked if oil prices had reached a bottom,

Blacklisted Tanker Returns to Libya's Zawiya Port

A tanker that Libya's rival eastern government had been using to try to export oil in defiance of the Western-backed administration in Tripoli returned to the country on Saturday,

Lerwick Harbor sees Seasonal Boost

The opening of the offshore season in northern waters has seen specialist oil industry vessels return to Lerwick Harbor during April to support subsea development projects.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0864 sec (12 req/sec)