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Oil majors must remain integrated

May 26 - The best way for oil companies to survive the current low prices is to remain integrated, according to Ed Osterwald, senior partner, CEG Europe. Oil companies such as BP that sell refineries when margins are low will suffer more and might not eve

He suggested that Canada, in a sense, is in the same situation that the Middle East was in 30 or 40 years ago; Canada is now realising that it needed to invest in adding value to its natural reserves with processing and chemical plants. 

"Just because oil prices go down, it does not always mean there is no investment," he said. But it is a mixed message for the heavy lift and project forwarders attending the exhibition as history shows that when oil prices go down, capital, labour and other costs go down as well.

Osterwald predicted that renewable energy sources would replace coal but that oil and gas would continue to be vital until the technological solutions for mass energy storage were found. 

www.ceg-global.com

Heavy Lift | News

Zeaborn to take full control of Zeamarine thumbnail image

Zeaborn to take full control of Zeamarine

April 18 - The Zeaborn Group has signed an agreement to acquire the remaining shares in Zeamarine – the joint venture with Intermarine that was established in May 2018.
Views: 165
Panalpina improves profitability thumbnail image

Panalpina improves profitability

April 18 - In the first three months of 2019, Panalpina boosted its profitability by 15 percent compared to the same period of last year.
Views: 90
Wallem sets out strategy change thumbnail image

Wallem sets out strategy change

April 18 - Wallem has rebranded its corporate identity to reflect the company’s updated strategy and service offering. 
Views: 102

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