OTC 2016: Tata pipeline achieves industry first in Gulf of Mexico
A steel pipeline developed in the UK has achieved an industry first by becoming the deepest to be laid in the Mexican section of the Gulf of Mexico.
ConocoPhillips given notice following Norwegian safety audit
ConocoPhillips has until May 10 to report on how it will address non-conformity and improvements on its Ekofisk and Eldfisk fields identified during an audit by Norwegian authorities.
Shell gets go ahead for Draugen wells
Shell has received consent to use two subsea wells on the Draugen field in the Norwegian Sea.
Norwegian wealth fund looks to crack down on high executive pay
Norway's $870-billion sovereign wealth fund is targeting high salaries paid to senior executives as it seeks to exert more influence on this issue.
University gets £250,000 from OGA to assess Rockall oil potential
The University of Aberdeen is set to benefit from a £250,000 grant from the Oil and Gas Authority (OGA) to investigate the potential for hydrocarbon exploration in the Rockall area of the North Atlantic.
Oil price recovering, but some predicting it’ll drop to $30 in weeks
Oil’s climb above $45 a barrel is reassuring influential figures from BP to the International Energy Agency that the industry is finally recovering from the worst slump in a generation. Others say the market is about to fall into the same trap as last year.
Tanker with disputed Libyan oil returns to country for unloading
A tanker with oil from eastern Libya returned with its cargo to the North African country after the United Nations blacklisted the shipment, amid an escalating struggle between the nation’s rival governments for control of its crude wealth.
Oil sector shows signs of strength and stability
The first-quarter results posted this week from the oil sector are showing some signs of improvement and will come as a long overdue boost for weary long-term shareholders.
88 Energy works on second Icewine well
88 Energy said it is close to completing the design of its second Icewine well in Alaska.
Natural gas net imports at lowest level since 1986
U.S natural gas net imports fell to 2.6 billion cubic feet per day (Bcf/d) in 2015, continuing a decline that began in 2007, when net imports of natural gas exceeded 10 Bcf/d.
North Sea helicopter crash: Gearbox and rotor head replaced this year – reports
The doomed Super Puma EC225 had its gearbox and rotor head replaced within the past four months according to the Norwegian Civil Aviation Authority.
North sea helicopter crash: Union calls for immediate retirement of similar aircraft
Norway's largest trade union has called for the immediate retirement of the Airbus EC225 helicopter following the Bergen helicopter tragedy.
Phillips 66 profits drop
Phillips 66 posted a 61% drop in first-quarter earnings after profit margins for refining and chemicals production shrank.
ExxonMobil reports higher than expected income
Exxon Mobil reported a higher-than-expected first-quarter profit by cutting costs to combat the plummeting oil price.
Chevron loss of $725m wider than expected for first quarter of 2016
Chevron reported a loss that was double analysts’ estimates amid an oil-market collapse that’s sparked currency crises, corporate bankruptcies, credit downgrades and hundreds of thousands of layoffs across the industry.
North Sea helicopter crash: 13 people presumed dead
A search for the passengers and crew on a North Sea helicopter flight which crashed into the North Sea has been stood down.
In pictures: North Sea helicopter crashes on Norwegian coast
The CHC helicopter returning from Statoil’s platform crashed on Norway’s rugged coastline, just 23km from Bergen’s Flesland airport. The aircraft was carrying 11 passengers and 2 crew. Norwegian emergency services mobilised after the copter came down at 11am UK time.
Nighthawk agrees further lending extension
Oil and gas independent Nighthawk Energy has secured a further extension to its reserve-based lending facility waiver.
Wood Group looks to outsource up to 168 IT jobs
Wood Group is considering outsourcing its IT services function putting the future 168 staff jobs in doubt.
PetroChina reports first ever quarterly loss
PetroChina, the country's largest oil and gas producer, reported its first ever quarterly loss as oil prices touched near 13-year lows.
Awilco and Apache at loggerheads over WilPhoenix status
Awilco Drilling and operator Apache are at loggerheads over the yard stay for Awilco's drilling rig WilPhoenix.
Study shows huge potential of exploitable pumped hydro energy
A new study has revealed a massive 2,291GWh of development-ready sites with existing reservoirs for new pumped hydro energy storage plants in Europe
ConocoPhillips posts first quarter loss and cuts spending
ConocoPhillips posted a $1.5billion first-quarter loss, compared with a year-earlier profit, and cut its spending budget for the second time this year as the slump in crude prices sapped its profitability.
Petrofac named as duty holder for BP’s Miller platform
Petrofac has been awarded a Duty Holder contract from BP to support the late life management of the Miller platform, located in the Central North Sea.
Subsea 7 income dips as SURF market contracts
Oil services company, Subsea 7 saw income dip for the first quarter 2016 as the reduction in SURF (subsea, umbilical, riser and flowline) project activity worldwide continues to bite.