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info@commonwealthcontractors.comExtracting oil is never an easy job and neither is balancing the needs of national governments, shareholders and environmentalists. Statoil, the Norwegian oil company, with a majority holding of 67% by the Norwegian government is presently navigating these choppy waters. The Arctic seemed to offer unlimited riches but the small issue of finding the oil […]
Category Archives: Oil & Gas
The ultimate fracking incentive was unveiled yesterday, 13th Juanuary 2014, when David Cameron, the Prime Minister, announced that local councils which approve shale gas projects will keep millions of pounds generated through windfall business rates. In this instance they will keep 100% of rates, up from the usual 50%, which is an estimated £1.7m for a […]
Unmanned Production Buoy (UPB) has signed a memorandum of understanding with the engineering giant AMEC for the development and construction of its first unmanned oil production platforms for use in small North Sea fields and other reserves in Danish and Irish waters according to a report in the FT. The expectation is that buoy based […]
Mexican President Enrique Pena Nieto would like to change the Mexican constitution in order to allow private companies to invest it its oil industry. The ban on private investment has been in place since 1938 following worker protests against foreign owned oil companies when the then President, Lazaro Cárdenas, formed the state owned company Pemex […]
Kazakhstan was brought to the attention of the world by Sacha Baron Cohen in 2006 when he lampooned the country in his movie Borat: Cultural Learnings of America for Make Benefit Glorious Nation of Kazakhstan. The Kazakhstan people were a little uneasy about the film but the government were delighted with the tenfold increase in […]