Industry, government work to reduce UKCS drilling costs

UK Continental Shelf (UKCS) costs have doubled since 2004, contributing to record-low drilling activity while operators and government collaborate to find ways to keep the basin competitive despite an ongoing oil-price slump. Source: News

India upgrades exploration policy, seeks international investment

India’s upstream sector needs private investment to expand exploration and expertise in its deepwater and ultra-deepwater areas, which account for a third of the country’s discoveries. A progressive and practical exploration policy should expand India’s upstream sector. Source: News

Oil industry holds recovery prospects in 2017

On Nov. 30, 2016, the Organization of Petroleum Exporting Countries agreed to cut 1.2 million b/d from global oil production. Non-OPEC producers, notably Russia, also have agreed to cut 558,000 b/d, representing the largest non-OPEC contribution ever to be agreed upon. Source: News

Study assesses floating roof designs against rain, pontoon puncture

Reducing the section-area of a crude storage tank’s floating roofs pontoons by increasing the number of pontoons inside the roof is the best way to lower the likelihood of its sinking. Roof design, however, must consider that the pontoons’ area is limited by the space required for welders to enter it. Source: News

Ups, downs, and escape

The US Energy Information Administration predicts that total world crude oil consumption will close to within 430,000 b/d of production in 2017 (97.42 million b/d vs. 96.99 million b/d). Source: News

The threat lingers

Timing sharpened illumination last month when the conservative Energy and Environmental Legal Institute published a scantly reported study about the Rockefeller family’s campaign against the industry that made it rich. Source: News