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Will rising oil prices lead to a renewed shale boom?

Will shale’s return on investment be higher and faster with a rising oil price or does it lose its competitive advantage above $60? Jonathan Green, upstream oil and gas business analyst, provides some provocative food for thought on shale as we approach the end of 2017.

Hydrocarbons are effectively an infinite resource. It just depends on how much you are prepared to spend to exploit them. Many shale players are stating that they can profitably produce at US$40/bbl and that they are well positioned to ramp up production massively as the price of WTI moves beyond US$60/bbl. However, shale’s resilience has to a large extent relied on the willingness of the capital markets to fund persisting cash-flow deficits in E&P companies. [Read more…]

WBC Moderates Panel at Moody’s Conference

WBC’s Angus Warren was the moderator at a recent Moody’s conference presented by Moody’s Analytics and Knowledge Services*.  The theme of the conference was technology and innovation and our panel considered the influence of disruptive technology on strategic investment decisions in oil and gas.

[Read more…]

Fundamentals of Oil Markets Course Held for KAPSARC in Riyadh

The Fundamentals of Oil Markets was delivered for KAPSARC in Riyadh in September, in a course organised by International Business House*.  The course was held at the world class campus of KAPSARC and WBC’s Angus Warren delivered the 3 day programme to 12 KAPSARC employees.  The group was diverse with participants from Saudi, Jordan, India, Russia and the U.S.  and from a variety of functions including research, editorial, gas, oil, energy efficiency and environmental studies. [Read more…]

WBC Attends NRGI Launch of Resource Governance Index

WBC’s Bob Laidler and Peter Smith recently attended the launch of the Natural Resource Governance Institute (NRGI)’s Resource Governance Index (RGI).  This impressive 3 year assessment of oil, gas and mining governance in 81 countries is aimed promoting good governance practices worldwide. [Read more…]

NOC Assembly June 2017: Feedback

WBC’s Jon Green and Angus Warren attended this year’s NOC Assembly, hosted by The Oil & Gas Council, in Paris on Monday.  The event was well attended, mostly by African NOCs and Ministries given the follow-on Africa Assembly the next day.  It was good to see old colleagues and to meet new. [Read more…]

Hydrocarbon Man: The Risks, Opportunities and Prospects for Oil & Gas in 2017 and Beyond

WBC’s Angus Warren gave a presentation at The Aster Club’s* spring meeting in London last week.  The talk, entitled “Hydrocarbon Man: The Risks, Opportunities and Prospects for Oil & Gas in 2017 and Beyond” started with an overview of an industry that touches every aspect of modern life from energy, to food, medicines and clothes.  Delegates learned how mankind has become “Hydrocarbon Man”. [Read more…]

What are the prospects for 2017?

How do you feel about prospects for the oil business and your career in 2017? Where will the oil price be in 12 month’s time? What are the biggest skills gaps in the E&P sector? What skills would you want to develop? Please join in our annual survey [Read more…]

Key Highlights of Africa Assembly 2016

WBC’s Angus Warren and David Finlayson attended the superb Africa Assembly, run by the Oil and Gas Council, in London this week.  The event was well attended by industry and there was lively debate on the state of oil and gas in Africa in 2016.  Below is a summary of the key take-aways from the conference: [Read more…]

The Skills Gap & How to Manage It

In our 2016 Industry survey we asked for views on the skills needed for success in oil and gas. As well as collecting your responses, we looked over a series of industry reports on the skills gap and other HR issues in oil and gas, several pre-dating the oil price collapse.  Read our full  paper here

Three themes consistently crop up: [Read more…]

Innovate or Fail – Your Oil Industry Predictions

In January 2016 we asked for your predictions on the future of the oil and gas industry. In the first of two papers, we report on what you said about the oil price, the mood of the industry and its longer term future. A common theme throughout was the need for the industry to change – attitudes, working practices and business models. Innovation is essential – cost cutting is not enough.

Download the full report here.

As far as the oil price is concerned, you were broadly in line with the rest of the market, though a bit more pessimistic about a rise than many of the banks were (see report for comparison).

[Read more…]

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