The USA seems to have itself in the weird position that it doesnt matter if the price goes up or down it still wins?
It looks like Olav Troim is not as crazy as some thought when he started investing in Jackup rigs a couple of years ago:
I’m just trying to figure out why WTI went up with OPECs increase in production announcement today.
CHARLES GIBSON: And will that continue in terms of crude oil prices? Goldman Sachs made the prediction that oil prices could be $200 a barrel.
REX TILLERSON: Well, yes, I’m not in the business of predicting prices. We never have been, because we’ve never been any good at it.
If the former CEO of the largest oil company in the world continually (multiple times) has said it’s impossible to predict the future of oil prices I can confidently predict that everyone else will have just as hard a time. * The only reason Tillerson retired is XOM has a mandatory retirement age of 65 for executives.
From Massmond Newsletters today:
The future looks bright for the Gas Industry according to IEA:
That should also be good for LNG shipping and support industries.
Shelf Drilling is buying another rig with their newly acquired cash:
That also mean one less premium rig in the GoM:
The outlook for British oil field workers:
ENI is active in deep water exploration and production off East Kalimantan, Indonesia:
They have taken on-hire the SolstadFarstad AHTS Far Statesman to support the operation:
Far Statesman specs:
Outlook for the FPSO/FSO/MOPU/FLNG market worldwide:
Notice that North America is mentioned as one of the main markets for segment.
FSRU is another segment that is showing good prospects worldwide:
The market is improving and Odfjell Drilling is looking for additional rigs:
More on the improving market for harsh environment semi-subs and need for scrapping, or move to other markets for older rigs (<2000):
Could some of them move to GoM if and when the market there improves??
Things are looking up and Shell return to 2 on/3 off work schedule in British waters:
Borr Drilling is getting employment for their newly reactivated jackup rigs:
As OPEC + Russia cut production to keep the oil price up US Shale production increases, which is good for crude tanker owners and consumers, but bad for the oil industry and those dependent on it around the world: