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In the News, 8th July 2016

By July 8, 2016September 7th, 2022No Comments

It is a bumper edition, with two weeks’ worth of news and plenty of interest, including two popular DW Monday’s and a number of articles about a range of reports:


Andrew Reid was quoted in the Press and Journal:

“Andrew Reid MD of Douglas-Westwood, said there would be implications for UK oil and gas but low crude prices were likely to remain the biggest cause for anxiety.”

Press and Journal 25/06/2016

The latest edition of the World Drilling & Production Market Forecast was released recently and appeared on a number of sites:

“However, 2017 represents a major threat to any oil price recovery. DW predicts offshore oil output will increase by 1.8mmbpd in 2017 as a result of the implementation of projects sanctioned before the downturn,” Douglas-Westwood’s Matt Cook said.” 04/07/2016 05/07/2016 05/07/2016 07/07/2016 07/07/2016 07/07/2016 08/07/2016 08/07/2016

The July edition of LNG Industry featured an article by Mark Adeosun that focused on LNG in Africa:

“LNG has become an important part of the local energy mix. However, Africa remains a region with plentiful gas reserves that is yet to fully utilise LNG technology to diversify and meet its growing energy needs.”

LNG Industry July 2016

The new edition of the World FLNG Market Forecast is due for release soon and featured in the news this week:

“The Company says analysis is underway, showing mixed results for those in the industry. Early indications are that after the pioneering projects of PFLNG – SATU, Caribbean FLNG and the Prelude FLNG, further capital expenditure will be curtailed.” 06/07/2016

Douglas-Westwood’s North Sea Decommissioning Market Forecast was another report to feature in the news:

“According to a recent report by Douglas-Westwood, an energy intelligence group, there is a big opportunity for the companies specializing in decommissioning to be part of removing the huge tonnage of infrastructure that exists in the North Sea.” 07/07/2016 07/07/2016 07/07/2016 07/07/2016

Another report referenced in the news this week was the World Floating Production Market Forecast:

“As a result of improving oil prices, cheaper shipyard/module fabrication costs and re-engineered projects, the FPS market should see improvement in the second half of 2016, according to analyst Douglas-Westwood (DW).” 07/07/2016 07/07/2016

An article by Mark Adeosun, that focused on DW’s World Deepwater Market Forecast 2016-2020 appeared in the July edition of Oil & Gas Journal, as well as on their website:

“Low oil prices will continue to impact deepwater capex over the next 5 years, operators have responded by announcing widespread redundancies, reducing budgets, and deferring new projects.” 04/07/2016

A presentation on Egypt given by Matt Loffman was back in the news this week:

“Matthew Loffman of Douglas-Westwood Ltd. said Egypt’s oil production is forecast to drop below 600,000 bbl/d by 2022; however, gas production is set to jump from 900,000 boe/d to 1.5 MMboe/d by 2022.” 05/07/2016 06/07/2016

DW was quoted in an article on the potential start-up of the Liza field in Guyana:

“Despite low oil prices, analysts such as Douglas-Westwood agree a fast-track development, while capital-intensive, could provide large potential returns on investment.” 07/07/2016 08/07/2016

Douglas-Westwood was referenced in the July edition of Hydrocarbon Engineering:

“Despite this somewhat nonchalant attitude uncertainties for the energy industry are undoubtedly clear, as DW notes. In 2013, the UK became a net importer of petroleum products – traditionally, the predominant sources of UK imports are from EU countries.”

Hydrocarbon Engineering July 2016

This week’s DW Monday which was about Brazil was referenced on numerous sites:

“Laden by corruption scandals and falling oil prices, Petrobras is struggling to repay $130bn worth of debt – nearly $24bn will mature by 2017. Efforts to sell non-core assets have been slow going and any attempt to divest upstream operations impeded by red tape.” 04/07/2016 04/07/2016 05/07/2016 05/07/2016 05/07/2016 05/07/2016 06/07/2016 07/07/2016

Last week’s DW Monday, which focused on the possible outcomes of the Brexit vote was very popular:

“The decision by 52% of the voters in the EU referendum last week to vote to leave the EU has had far-reaching impact across the globe. The oil and gas sector, bruised from nearly two years of low oil prices, is bracing itself for the fall out.” 27/06/2016 27/06/2016 27/06/2016 27/06/2016 27/06/2016 27/06/2016 27/06/2016 27/06/2016 27/06/2016 27/06/2016 28/06/2016 28/06/2016 28/06/2016 28/06/2016 28/06/2016 28/06/2016 28/06/2016

The DW Monday dated 13/06 which also discussed Brexit was in the news this week as well:

“Prior to the referendum, Douglas-Westwood, an energy intelligence group, analysed what withdrawal of the United Kingdom from the European Union could mean for the UK oil & gas industry.” 27/06/2016 27/06/2016