Related Articles
Forward article link
Share PDF with colleagues

It’s time to innovate and evolve says McCallum

James McCallum, chief executive at energy services company LR Senergy, a part of Lloyd’s Register Group, believes this is a defining moment for the energy industry. He tells Petroleum Economist why

As the oil price hovers around $65 a barrel, we are embarking on a crucial period that will define the industry’s future. Spiralling exploration and production costs are price differentiating energy plays and it is clear the current cost base cannot be sustained.   Standard business practice by the oil companies in a commodity price collapse is to firstly cut contractors, followed by a review of internal resources and restructuring to cope with the major loss in revenue. The job losses this time have happened much more quickly than in previous downturns. With financial reporting now every quarter rather than on an annual basis, the necessary adjustments have had to be made promptly in respo

Also in this section
The price is right
5 April 2018
With the help of thirsty consumers and collapsing Venezuelan output, the market seems at last to have found its range
Opec and IEA bristle at Trump's trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring