The Press and Journal (Inverness, Highlands, and Islands)
Breakfast will give delegates a chance to digest research
Sector survey findings to be revealed
Energy Voice has launched its latest global research project in a bid to take the sector’s pulse.
#Oil17: NewWorldOrder is the publication’s third annual sector survey.
The exclusive results will be revealed at Energy Voice’s OTC breakfast on Tuesday, May 2 at the Hilton Post Oak inHouston. An expert panel, which willbeannouncedlater this month, will debate the findings. Energy Voice editor Rita Brown said: “Since the collapse of the oil price in mid2014, markets watched as the Middle East played a defensive price war, new player Iran flexed its oil produc ing prowess and Brent’s value dropped 75%. “TheUS repealed a 40year ban on crude e xports and Mex ico opened its energy borders for the first time in nearly 80 years. It also triggered a milestone Opec decision to curb oil production rates.
“And while the markets watched, thousands lost their jobs, businesses re-adjusted their spread sheets and a new sector mantra – ‘Doing business lower for longer’ – was born.
“Then, in late 2016, industry leaders slowly started calling the bottom and planning their business around a recovered oil price of $55.
“Not to mention Brexit, Trump and a second Scottish independence bid being retabled.
“All of these social, economic and political factors will play into how effective the offshore sector will be at stabilising itself.”
The research examines regions of growth, sector diversification opportunities and confidence levels. This year’s survey is supported by headline sponsors law firm Burness Paullandthe GreaterBeaumont Chamber of Commerce in Texas, and travel sponsor Singapore Airlines.
Burness Paull oil and gas partner Jamie Stark said: “The triple layered uncertainty caused by Brexit negotiations, IndyRef2 and continued oversupply of oil will pose the main challenges for 2017.”
Take the survey on www.energyvoice.com and be in with chance to win a four-night stay during Offshore Europe including breakfast and dinner each day.