Call to cancel new coal facilities globally as renewables ‘out-compete’ on cost
Coal power developers risk wasting hundreds of billions of pounds as new renewables are now cheaper than new coal plants around the world, a report warns.
Occidental slashes payout for first time in 30 years
Occidental Petroleum Corp. cut its dividend for the first time in 30 years as the oil producer opts to conserve cash to cover debt incurred in its $37 billion takeover of Anadarko Petroleum Corp. last year.
Equinor confirms coronavirus case on North Sea platform
Oil giant Equinor has a confirmed case of coronavirus on one of its assets in the Norwegian section of the North Sea.
Oil rally falters after Saudis vow to further boost production to 13 million barrels
Oil’s rebound from its biggest crash in a generation faltered after Saudi Arabia said it would boost its production capacity, while there were also doubts whether the U.S. could deliver sufficient stimulus to support prices.
Cairn Energy ‘won’t change’ North Sea exploration plan despite oil price meltdown, chief says
This week’s oil price meltdown “won’t change” any short-term plans for Cairn Energy but could offer an opportunity, the Scottish oil firm’s boss said yesterday.
Contracts for difference: levelling the playing field for wind and solar
Along with industry, we welcome the recent consultation on allowing onshore wind and solar to compete for CfD’s in future Allocation Rounds, the next being scheduled for 2021.
Profit jump comes alongside revenue drop for Wood in 2019
Aberdeen-headquartered energy services firm Wood has reported a profit jump in its full year results for 2019.
Cairn Energy continues profit growth with positive full year results
Scottish operator Cairn Energy has continued its drive for profit with positive full year results for 2019.
Rockrose Energy completes development well at West Brae
Oil and gas company Rockrose Energy has announced the completion of the first of two infill development wells at West Brae.
TechnipFMC inks multi-million deal with BP in Angola
French oilfield services firm TechnipFMC has announced a multi-million pound deal with BP in Angola.
A Budget to achieve net zero?
This is a Budget like no other in recent times. Delayed due to a surprise general election, the first under Prime Minister Johnson, being delivered by a Chancellor appointed less than a month ago, and happening within a challenging geopolitical and economic environment.
Engineering students are best in Europe
A team of petroleum engineering students from the University of Aberdeen has made it to the world finals of the annual PetroBowl competition organised by the Society of Petroleum Engineers (SPE).
New wave energy data sharing platform launched
A new online platform has been launched by Sea Wave and Wave Energy in Southern Europe (Wese) to share environmental monitoring data collected within the marine energy industry.
Serica restarts Bruce platform after five-week shutdown over ‘deteriorated caisson’
Serica Energy has restarted its Bruce platform after a five-week shutdown following the discovery that an underwater structure had become “deteriorated”.
Wood closes deal to sell off nuclear business in multi-million agreement
Global engineering and consulting firm Wood has announced it has closed a deal to sell off its nuclear business to Dallas-headquartered company Jacobs.
Global recession ‘almost inevitable’ as oil price plummets, deVere boss warns
A global recession is now almost inevitable this year, warns the chief executive of one of the world’s largest independent financial advisory and services organisations.
Energy sector carbon emissions fall to lowest level since 1990
Last year saw the biggest falls in global electricity generation from coal and power sector carbon emissions since at least 1990, analysis suggests.
Opex and Woodmac partnership to create new service for oil and gas sector
Aberdeen-based data science and predictive analysis firm Opex Group has joined forces with global natural resources research and consultancy company Wood Mackenzie to launch a new service for the oil and gas industry.
Statkraft sets ambitious gender diversity target for UK workforce
Onshore wind developer Statkraft is to set an ambitious gender diversity target to increase the percentage of women within its UK workforce.
Fall in oil price as Asian stocks tumble
Asian stock markets have fallen sharply reflecting a downturn in global oil prices.
North Sea oil firms face demanding near-term carbon target
A group of UK North Sea oil and natural gas producers face an ambitious government-mandated target to cut their emissions as soon as 2025 as the nation seeks to make more real its ambition for net-zero fossil fuel pollution by the middle of the century.
Millions of pensioners will ‘ration’ energy despite cold weather, survey finds
Around 2.8 million over-65s are expected to ration their energy usage during the current cold spell out of worry that they cannot afford their energy bills, according to new figures.
Thousands of Houston jobs could be cut if oil fails to recover from Friday plunge
The price of crude oil plunged below $42 per barrel Friday, threatening thousands of Houston-area jobs if the price languishes there for several months, an economist says.
Wind turbine orders hit £60bn over 2019, Woodmac finds
Global wind turbine orders reached almost £60 billion in 2019, according to new research by Wood Mackenzie (Woodmac).
Tesla ‘omitted hundreds of injuries’ in occupational health reports, California regulator says
For years, Tesla has refuted concerns about worker safety at its main assembly plant by describing reviews from a California regulator as vindication.