LONDON, Sept 5 (Reuters) – The market for giant engineering
projects has begun to cool after running red hot for a decade.
Mining companies have been among the most aggressive in
postponing or cancelling projects, but major capital
expenditures are also being deferred by oil and gas companies
Like most other developments in the oil and gas sector, the
changing environment for large-scale projects stems from the
shale revolution. Shale has transformed the outlook for oil
prices and sources of supply that underpinned so many of the
megaprojects launched earlier in the century.
LONDON, Sept 3 (Reuters) – Order books for major engineering
and construction companies serving the oil and gas sector have
fallen in the last year, pricing is becoming increasingly
aggressive and profit margins have shrunk, all of which suggest
pressures on the engineering supply chain are starting to ease.
Exploration, production and refining in the petroleum
industry as well as the supply chain are characterised by long
lead times as well as long and pronounced investment and price
LONDON, Sept 2 (Reuters) – Encouraged by some of the highest
starting salaries available in any industry, record numbers of
students are enrolling in petroleum engineering courses at U.S.
It is part of a broader renaissance in engineering
education, which should eventually ease severe skill shortages
in the oil and gas sector.
LONDON, Aug 29 (Reuters) – The rapid rise in oil prices
since the beginning of June has all hallmarks of a mini-bubble,
drawing in a host of hedge funds and money managers, nearly all
of whom are positioned the same way, expecting prices will rise
The question is whether it will inflate further, or is about
Could the commencement of military action against targets in
Syria be the trigger for oil prices to turn lower?
LONDON, Aug 27 (Reuters) – Should oil and gas producers be
allowed to hydraulically fracture wells even if there is a small
but hard-to-quantify risk to the environment, property and human
That is the question politicians, environmentalists, local
residents and the media are all grappling with across large
parts of the United States, Britain and other countries.
LONDON, Aug 23 (Reuters) – The United States has emerged as
a big net exporter of propane and other liquefied petroleum
gases (LPGs), thanks to the shale revolution, becoming a prime
supplier of heating, cooking and motor fuel for countries across
Where once massive gas tankers arrived importing LPG from
Algeria, Nigeria, Saudi Arabia and Venezuela, to help meet
winter heating demand in the United States, now an increasingly
large fleet of LPG tankers is taking U.S.-produced LPG south to
Brazil, Chile and Mexico, and even across the Atlantic to
LONDON, Aug 20 (Reuters) – BP’s increasingly bad-tempered
spat with the U.S. federal court, claims administrators and
legal community in New Orleans over oil-spill compensation
payments suggests the company has given up trying to win the
Instead, BP seems to be focused on getting it before
a regional or national tribunal as quickly as possible in the
hope of a more sympathetic hearing.
LONDON, Aug 19 (Reuters) – Britain’s homes are in the midst
of an energy-efficiency revolution, though that may come as a
surprise and not much comfort to their occupants, who are still
struggling with the highest heating and power bills for over two
Between 2005 and 2011, average household power and gas
consumption in England and Wales fell by a quarter from 26.2
megawatt hours (MWh) per year to 19.7 MWh, according to the
Office for National Statistics (ONS).
LONDON, Aug 15 (Reuters) – Fracking set off a modern day
land rush across the United States, as “land men” acting on
behalf of exploration and production companies scrambled to
secure rights to drill and fracture underground formations for
oil and gas.
Landowners received hundreds or even thousands of dollars
per acre in exchange for allowing wells to be drilled and
pressure pumped, and hundreds of thousands or even millions of
dollars more if the wells struck petroleum and were put into
LONDON, Aug 14 (Reuters) – Electrification was the single
greatest engineering achievement of the 20th century, according
to the U.S. National Academy of Engineering.
But buying electricity is not like buying a can of baked
beans. Irrespective of how much power households and businesses
use on any given day or month, they have come to expect that
nearly unlimited supply will always be available at any time at
the flick of a switch.