Home Employment Login Corporative Profile Products & Services Industries Served Library & Download Contact & Distributors News, Events & Courses News, events & courses 10/03/2016 Oil prices to hit US$70 in 2016, Lloyd’s Register Energy study suggests Go Back A new report reveals that majority of oil and gas executives believe the oil price will remain between US$50-US$70 in 2016, with almost 27 per cent respondents believing it will hover around US$70 However, even while the current environment is creating opportunities for innovation, almost half of the executives admit they have fallen short of their innovation goals since 2014. These findings form a part of the Technology Radar 2015 report that was launched by Lloyd’s Register Energy. John Wishart, Group Energy Director, Lloyd’s Register, said, “The report Innovating in a New Environment provides data-driven findings on the role of innovation in the current and future upstream oil and gas industry. The oil price slowdown is clearly impacting investment in innovation initiatives. However, our report finds that contrary to perceived wisdom, innovation has a crucial role to play in the current environment, where it creates operational efficiencies and is cost-effective. “To innovate properly and achieve business goals companies must address a number of common challenges including collaborating more openly, using data more effectively and changing traditional mindsets. Encouragingly, our findings show that overall the industry understands the need for innovation and has begun reaching out to other sectors to gain technological insight.” The report also looks at how executives are placing increasing emphasis on collaboration, both internally and outside of the industry, as they adapt technology from other sectors. Two-thirds of respondents say they are under pressure to collaborate with other organisations within the sector. When they do collaborate, upstream companies focus on the early stages of a project, and often around safety. The report reveals an overarching cultural shift is still required to fully integrate genuine collaboration in innovation. The role for data collection and analytics in driving innovation has also been assessed in the report, finding that more advanced data collection and analytics are a must have in the current low oil price environment. Lack of data and systems integration across different parts of the business are huge barriers to successful data collection and analytics, with silos the biggest cause of the issue. Despite understandable pessimism due to the current landscape, Technology Radar 2015 shows that the downturn in the oil price is strengthening the need for innovation, not weakening it. According to David Eyton, Group Head of Technology at BP, innovation in areas such as enhanced oil recovery are attractive as “they don’t have the same kind of downside from a change in the oil price that other technologies might.” Through interviews with senior industry practitioners and a global survey of more than 450 oil and gas professionals, it provides a compelling case for increased technological innovation. Next Events & Courses Europacat 2017 27/08/2017 Florence, Italy PID Eng&Tech will attend next Europacat 2017 which will be held in Florence, Italy from August 27th to 31st, 2017 The Organizing Committee cordially invites you to attend the 13th European Congress on Catalysis (EUROPACAT 2017) that will be held from August 27 to 31, 2017 in Florence, Italy. EUROPACAT 2017, with the theme of “A bridge ... Read more CIS7 13/06/2017 Třešť, Czech Republic PID Eng&Tech will attend next CIS7 which will be held in Trest, Czech Republic, from June 13th to 17th, 2017 This conference is a continuation of a series of Czech-Italian-Spanish conferences on Molecular Sieves and Catalysis organized every two years. (2015 - Amantea, 2013 - Segovia, 2011 - Liblice, 2009 - Acireale, 2007 - Třešť, 200... Read more SECAT17 26/06/2017 Oviedo, Spain PID Eng&Tech will attend next SECAT17 which will be held in Oviedo, Spain from June 26th to 28th, 2017 The selected theme of the Congress, "Catalysis for a more sustainable world", tries to bring together the different aspects of the catalytic processes, from the preparation and characterization of catalysts to the design and simul... Read more Contact Cookies & Privacy Policy