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petroleum industry

The OTC 50 celebrations and upstream investments

The year long celebration of the Offshore Technology Conference, OTC at 50 ended last Thursday at the New Radiancy Group, NRG Park in Houston, Texas. The celebration of 50 years began at the 2018 edition, culminating in 2019, from May 6- 9.  Founded in 1969, by 12 engineering and scientific organizations, it was a response to the growing technological needs of the global ocean extraction and environmental protection industries.

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Global upstream FIDs to double in 2017

THE number of upstream projects reaching final investment decision (FID) in 2017 could double to 25 compared to only 12 last year, according to a recent Wood Mackenzie report, “A big year for FIDs: 2017 marks a turning point.” This is coming at a time the international oil companies, IOCs, in Nigeria are in favour of disposing more assets after the passage of petroleum industry bill, PIB, and expiration of their licences.

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