Offshore Oil Sector Faces Major Skills Shortage Yet Wages Must Fall Say CEOs

By Sarah Young and Stephen Eisenhammer ABERDEEN, Scotland, Sept 6 (Reuters) - At one of the largest oil shows in the world in Scotland's oil town of Aberdeen, hundreds of companies vie for new recruits, flaunting shiny drill bits and simulators amid free beers and women in tight work overalls. The global battle for talent in the oil industry is clear at the SPE Offshore … [Read more...]

Miracle In Myanmar: Can Offshore Energy Bring A Miracle?

(Bloomberg) Myanmar’s opening to foreign investment has been compared to the fall of the Berlin Wall and the start of an economic growth story to emulate Vietnam. How those views pan out will be largely decided by natural gas. Exxon Mobil Corp. (XOM), Woodside Petroleum Ltd. (WPL) and Oil India Ltd. (OINL) are among 59 global energy companies lining up for a share of … [Read more...]

Senators Support Oil and Gas Exploration Offshore Virginia

"Virginia is well positioned to be a national leader in offshore energy exploration," noted Virginia Senator Tim Kaine in a press statement yesterday. Well no kidding. It seems completely ridiculous that U.S. regulators would even consider allowing energy companies drill in the Arctic Ocean when relatively easy-to-reach hydrocarbon resources exist right off the shore of … [Read more...]

Body of Missing Rig Worker Found, Grand Isle Shipyard Says Torch Not to Blame for Incident

GRAND ISLE, La.--Divers searching the Gulf of Mexico for two workers missing after an explosion on an oil platform recovered the body of one Saturday night, as the U.S. Coast Guard stopped its search. Mark Pregeant, chief executive of Grand Isle Shipyard Inc., said in an interview Saturday night that one body had been pulled from the Gulf but had not been identified. The … [Read more...]

Defiant Offshore Workers Cost Statoil $19 Million Per Day

OSLO (Dow Jones) --Norwegian oil giant Statoil ASA (STO) has said it will lose about 115 million kroner ($19 million) a day due to a strike by offshore workers, and said that deliveries to customers could be disrupted. About 700 oil workers are striking after wage negotiations broke down Sunday due to a disagreement about retirement age. Labor unions are angry … [Read more...]