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Short-term approach to personnel development is a growing concern, DNV GL survey finds

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A report published by DNV GL reveals that skills shortages are seen as a barrier to growth and an increasing concern throughout the US. More than half of respondents believe organizations are taking a short-term approach to skills and career development. “A New Reality: The Outlook for the Oil and Gas Industry in 2016” is based on a global survey of 921 senior professionals in the sector. It shows that an increased portion of US respondents see cost management as the top priority in 2016 – 38% compared with 25% in 2015.

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Wood Mackenzie: Deferred projects hit deepwater sector hardest

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Wood Mackenzie has updated its analysis published in July 2015 on the impact of continued low oil prices on upstream oil and gas projects. It concludes that in the last six months of 2015, an additional 22 major projects and seven billion barrels of oil equivalent (boe) of commercial reserves have been deferred, on top of the 46 developments and 20 billion boe of reserves identified previously. Deepwater projects have been hit hardest, accounting for over half of the total, as companies are forced to rework projects with high breakevens, large capital requirements and high costs.

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