Petroleum Review August 2016

Petroleum Review readers will have awoken on the morning of 24 June to the shock news that the UK would be leaving the European Union, after a 51.9% slim majority voted in favour of Brexit. The referendum result led to the pound falling to a 30-year low against the US dollar and leaves much uncertainty in the market place. Our first feature summarises some of the key concerns and implications for the energy sector.

We also report on the current state of play in the bulk storage sector, where operators of bulk liquids terminals are enjoying high utilisation rates and building like never before in order to cope with strong demand.

Meanwhile, a new report suggests that North Sea oil and gas development is at a pivotal moment – whether to seize new opportunities or face terminal decline. This issue also stresses the important role that collaboration has to play not only in the future of the North Sea, but across the energy industry globally.

Corrosion matters are also addressed this month, with the first feature in this section explaining that a clear understanding of corrosion mechanisms is vital whatever the state of the oil price environment. We also look at the measures Middle East offshore operators are taking in a bid to keep ageing assets operating efficiently, safely and within regulatory requirements, and highlight the role played by industrial paints and coatings in corrosion management.