The north-east has been dealt a significant boost after organisers of a huge oil and gas conference confirmed it is still on track to go ahead as planned later this year.
Storegga Geotechnologies is on course to make a final investment decision (FID) on a trailblazing carbon, capture and storage (CCS) project in the first half of next year.
Electricite de France SA said the completion of its flagship British nuclear plant project will be delayed at least six months and cost about 500 million pounds ($687 million) more than previously planned because of the coronavirus pandemic.
The UK oil and gas industry is expected to double down on green investments this year despite a deficit of confidence in the sector, according to a new survey.
Iran has started ramping up its oil production and expects to reach pre-sanctions levels in one to two months, Deputy Oil Minister Amir Hossein Zamaninia said.
Schlumberger’s chief executive has described 2020 as “an exceptional year of operational resilience” with the firm posting pre-tax losses of $11.2 billion (£8.3bn).
Subsea companies across the UK are reporting an improved outlook for the industry with fewer anticipated redundancies, greater optimism and new geographical markets.
Halliburton’s chief executive has praised “swift and decisive cost actions” after the firm delivered “strong margins and cash flow” at the back end of last year.