Updated: Orcadian raises £500k to progress North Sea Pilot field
North Sea operator Orcadian Energy (LON: ORCA) has successfully raised £500,000 by means of a share placing on the London Stock Exchange.
Equinor and Var Energi walk away from Norwegian ammonia project
Equinor and Var Energi have opted not to progress with an ammonia production project after a cooperation agreement expired.
Westwood: Harbour Energy one of just two IOCs to finish 2022 with lower share price
A new report from Westwood Global Energy Group has laid bare the impact of the UK Government's fiscal tinkering on Harbour Energy's (LON: HBR) share price in 2022.
Watch: Protestors board North Sea-bound Shell Penguins FPSO
Greenpeace protestors have boarded a Shell (LON: SHEL) FPSO – destined for the North Sea - in the Atlantic Ocean, just north of the Canary Islands.
Norway’s wealth fund cuts big oil holdings in profit taking move
Norway’s $1.3 trillion sovereign wealth fund took profit on the world’s biggest oil and gas companies after a run up in energy prices in 2022.
Green hydrogen firm ITM Power to trim headcount after ‘unacceptable financial performance’
ITM Power (LON: ITM) is to reduce its headcount after an “unacceptable financial performance” by the green hydrogen electrolyser manufacturer in recent times.
‘Historically low valuations’ could open up BP to an M&A bid, says investor
“Historically low valuations of UK companies”, including oil giant BP (LON: BP), could make them “potentially-attractive takeover targets”, asset manager M&G has claimed.
Aberdeen in line for jobs boost as Spirit unveils plans to repurpose gas fields
Spirit Energy has confirmed plans to repurpose offshore gas fields for emissions storage, in a move it claims will support thousands of jobs.
2022 best year in a decade for new global oil and gas discoveries, says WoodMac
Last year was a bumper one for the global oil and gas exploration sector as it enjoyed its strongest 12 months in more than a decade.
Cnooc’s $3bn UK portfolio sale has stalled on valuation gap
Cnooc (TSX: CNU) has paused a planned sale of its UK North Sea portfolio, which could have been valued at as much as $3 billion in a deal, according to people familiar with the matter.
Key UK-France power cable back at full capacity after 2021 fire
A key power cable linking Britain and France has been used at full capacity for the first time since a fire shut it down in 2021.
cHeRries Awards 2023: The hunt to find the best and brightest HR professionals begins
Scotland’s leading awards scheme honouring the best and brightest of human resources and personnel professionals has launched its program for 2023 and it is back bigger and better than ever.
Shell profits expected to dip from recent highs after gas price drop
New chief executive Wael Sawan is unlikely to be introduced to shareholders alongside another set of record profits, but Shell (LON: SHEL) will have continued to benefit from massively high energy prices in the last months of 2022.
Shell to combine business units as Sawan shakes up top team
Oil and gas giant Shell (LON: SHEL) has announced plans to shrink its executive committee in a bid to simplify “how the organisation works”.
Equinor awards Linde major FEED contract for H2H Saltend project
Equinor (OLSO: EQNR) has awarded a front-end engineering design (FEED) contract for its H2H Saltend project to Linde Engineering.
Balmoral ‘ready to go’ on new offshore wind factories, but standardisation needed
Aberdeen’s Balmoral Group is primed to invest in new factories to create components for offshore wind farms.
Serica Energy backers approve Tailwind takeover
While the acquisition has secured enough backing to move forward, there is still a sizeable chunk of shareholders who opposed it.
Global offshore rig utilisation to average 95% this year, says Westwood
Activity in the North Sea is a “bit questionable” though given the current windfall tax, which has prompted some operators to send rigs elsewhere.
Fears windfall tax subsidy could distort North Sea electrification process
Concerns have been raised about the unintended consequences of the UK Government’s subsidy for electrifying oil and gas platforms.
Serica backers readying for crucial vote on Tailwind acquisition plans
Investors in Serica Energy are preparing to head to the metaphorical ballot box to vote on the company’s planned acquisition of Tailwind Energy.
Developers battling issues at major Scottish floating wind farm
Work is still ongoing to iron out issues at the world’s largest floating wind farm, well over a year since it became fully operational.
ScotWind will be turning point in Scotland’s chequered offshore wind past, says FM
Nicola Sturgeon delivered her vision for Scotland’s offshore wind sector in front of industry leaders in Glasgow yesterday.
Offshore wind a chance to ‘reverse multi-generational’ Highlands skills exodus
A business chief delivered a rousing speech on the potential for offshore wind to revitalise the Highlands and Islands during a major industry event on Wednesday.
Sturgeon ‘cautiously optimistic’ about Acorn ahead of key CCS update
Scotland’s First Minister is upbeat about the prospects for a major north-east decarbonistion project, amid growing uncertainty about its future.
Potentially ‘over 300’ unexplored North Sea discoveries at risk due to windfall tax uncertainty
Hundreds of North Sea oil and gas discoveries could be abandoned as companies battle with uncertain headwinds.