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Posts in oil industry outlook

• “Dead Well” is a Just a Bump in the Road

  Andy Rowell

  Sep20

  So finally the well is dead. After 153 days, 5 million barrels spilt and a $10 billion bill so far, BP’s well is officially sealed. Although no crude has leaked from the well since BP capped it on July 15, the only way to permanently seal it was a bottom kill from the relief well….
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• Ability to Find New Reserves Now on a “Knife Edge”

  Andy Rowell

  Aug13

  Well we always knew that the oil spill disaster would have severe repercussions for the industry, a fact now conceded by the International Energy Agency (IEA). The IEA has warned that the spill from BP’s Macondo’s well “places the ability of the industry to access important new reserves on a knife edge“. Its latest monthly…
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• NWF Attack Oil Industry’s “Assault on America”

  Andy Rowell

  Jul30

  Yesterday Shell waded into the Deepwater fall-out by defending deep-water drilling. Peter Voser, Shell chief executive, argued that deep-water drilling still had an important role to play in global energy supply. “We have got growth potential there”. But what cost is this growth? Even the industry’s own trade magazines are questioning the business as usual…
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• 100 Days That Changed the Industry .. Or Did it?

  Andy Rowell

  Jul28

  So we are 100 days into this disaster and what has changed? Well we have a new CEO of BP. The straight talking American Bob Dudley argues that the Gulf of Mexico spill has been “wake-up call not only for BP, but the oil and gas industry overall”. But will this wake-up call change the…
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• Despite “Deepwater” BP Bets on More Deepwater

  Andy Rowell

  Jul21

  British Prime Minister David Cameron came out batting for BP in Washington yesterday as he tried to “shield” the company over the allegations that BP lobbied for the release of the Lockerbie bomber. But more importantly, he warned US Senators not to “single out” BP over legislation that might ban BP from drilling in the…
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• Senators Accuse BP of “Blood Money” Handouts

  Andy Rowell

  Jul15

  For many in America, BP has been public enemy number one since the Deepwater disaster started on April 20th. It’s not only the disaster itself, but the way BP has handled itself before and since then that has added to the palatable anger. The failure by the company to stop the spill, the public gaffes…
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• From Seven Sisters to One Super-Major?

  Andy Rowell

  Jul12

  Obama’s presidential Commission into the oil spill starts today and already the focus seems to be about how to improve safety offshore for future drilling in light of the BP disaster. That means the focus is how to drill offshore rather than whether to drill offshore. That is a huge difference. The Commission is unique…
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• Will BP’s Partners Cough up $400 Million?

  Andy Rowell

  Jul05

  As the clean-up cost for BP’s spill surpasses $3 billion, BP has demanded that its partners to pay about thirteen per cent of the costs so far or $400m. The demands were sent to Deepwater Horizon partners Anadarko – that owns 25 per cent of the well – and Japan’s Mitsui Oil Exploration that owns…
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• BP’s Long Term Business Strategy in Chaos..

  Andy Rowell

  Jun29

  A BP presentation to investors from March 2010 – a month before Deepwater – is doing the rounds on the net after being picked up by Propublica. In fact the presentation to analysts is on BP’s own website. The presentation shows how so much has changed for BP since the disaster – and if nothing…
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• Industry Steps Up Pro-Offshore Drilling Campaign

  Andy Rowell

  Jun22

  To pardon the pun, but the tide is turning. Soon everything could be back to normal. There is an aggressive lobbying campaign by the oil industry to overturn Obama’s offshore drilling moratorium, despite the fact that opposition of offshore drilling continues to rise. Part of the industry campaign is to argue that support for offshore…
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