Service Companies & Manufactures

A new and unchartered type of price war is brewing in the oil market. The world’s biggest consumers of oil have pledged an unprecedented and relatively sizeable release of strategic reserves onto the market to quell high oil prices amid pandemic recovery. The orchestrated release of what we estimate will …

DNV, the independent assurance and risk management provider, will acquire industrial cyber security specialist Applied Risk. The two companies will join forces with the aim to build the world’s largest industrial cyber security practice, defending critical infrastructure in energy and other industrial sectors against emergent cyber threats. Threats to industrial …

Today’s events are unprecedented at scale when looking at the recent history of the oil market. It is the first time that these countries, including China, conduct a coordinated release. The last time we saw a similar coordinated plan was during the Libya civil war in 2011, when IEA countries …

Today marks an official emergence of an ‘anti-OPEC+’, a group of top oil-consuming countries that are taking the supply-side dynamics into their own hands in the unconventional and unprecedented release of strategic petroleum reserves to create artificial looseness in the oil market and deliver a negative blow to oil prices. …

Expro, a leading provider of energy services, today launches Galea™ – the world’s first fully autonomous well intervention system – to maximize production while reducing intervention costs, HSE risks and environmental impact. Galea™ replaces larger, conventional and more labor-intensive wireline rig-ups for a range of slickline operations such as solids …

Reinvestment rates among US shale oil producers hit an all-time low in the third quarter of 2021, resulting in a record free cash flow for the quarter, and are projected to fall even lower by year-end according to a Rystad Energy analysis. The analysis focused on a peer group of …

The collateral damage on oil prices from last week is set to unwind further this week as Germany joins the chorus on calling for tighten restrictions while Europe grapples with a fourth wave of Covid-19 cases. If a new wave of lockdowns are enacted in Europe, oil prices will not …

NewTech Services announced in 2020 the commercial release of the Zenith™ rotary steerable system (RSS) in response to our customer’s drilling challenges and their ongoing investment decisions. This push-the-bit technology expands the limits of the directional drilling market by improving reservoir access while optimizing drilling costs with its unique integrated …

Rystad Energy’s assessment of the COP26 summit consensus is that the last-minute compromises can be seen as overwhelmingly positive towards averting critical levels of global warming. Our data-driven forecasts model different climate scenarios and, up until the Glasgow Climate Pact, our research pointed to a likely outcome of 1.8°C. However, …

When the trajectory of the oil market’s supply tightness is being challenged by both the IEA and OPEC, it’s difficult for the trading mood to not turn bearish. Prices are falling on forecasts that the world may see oil surpluses again from as early as next month, if OPEC expectations …