Airbus unveils new offshore model X6
Airbus has unveiled its latest model targeting the offshore oil and gas sector. The European helicopter firm launched its X6 at the Paris Air Show today.
UK should embrace fracking, says Osborne
tain should embrace fracking or be condemned to higher energy bills and fewer jobs, George Osborne has said. The Chancellor also insisted he did not want to be part of a generation “that says all the economic activity was happening somewhere else in the world” as he reiterated his support for the extraction of underground shale gas.
Japan offshore wind project to gain largest ever turbine
Japan’s $405million offshore wind project is set to gain a 7-megawatt turbine. The turbine, which will be the largest of its kind ever to be used at sea, will generate power 12 miles (20km) off the coast of Fukushima.
Wood Group Kenny looks to pull-off deepwater first
Wood Group Kenny (WGK) secured a contract to support Kebabangan Petroleum Operating Company (KPOC) in its Malaysian operations. The deal is part of deal to pull off a deepwater first in the region. The firm will support work on pipeline engineering and flow assurance engineering studies for the Kamansu East (KME) field offshore Sabah.
Sir Ian Wood says $65 oil will last two years
Oil tycoon Sir Ian Wood, who carried out a review of the industry for the UK Government, forecast that the price could stay at around the $65 a barrel level “for possibly quite a long time, maybe two to three years”.
OGUK Conference: What to expect from OGA’s Andy Samuel’s keynote speech
Oil and Gas Authority (OGA) chief executive Andy Samuel will deliver the keynote speech at today’s Oil and Gas UK (OGUK) conference. The industry leader, who was tasked with carving out the new regulatory body’s role in the sector, will discuss why the industry must simplify its current landscape and ‘ruthlessly prioritise and focus on the things that really matter – value and urgency’.
Thousands to lobby MPs on climate change
Thousands of people from snowboarders and surfers to bee keepers and nuns are set to converge on Parliament to urge their MPs to back strong action on climate change. The mass lobby is today calling on Parliament to support a global climate change deal which will end carbon pollution from fossil fuels by mid century and invest in warm homes, clean energy and sustainable transport. Politicians are also being urged to end polluting coal power in the UK by 2023, on the way to phasing carbon out of electricity supplies.
Oil heir Getty died of haemorrhage
Oil fortune heir Andrew Getty died from an ulcer-related gastrointestinal haemorrhage at his Los Angeles mansion, but also had a toxic level of methamphetamine in his body, authorities have said.
OGUK Conference: Sturgeon plea over oil exploration
Nicola Sturgeon will today call on the UK Government to consult urgently on incentives to boost exploration in the North Sea. The First Minister will make the demand at the annual Oil and Gas UK Conference in Aberdeen. Figures show that North Sea exploration last year reached its lowest level in at least two decades, with 14 explorations wells drilled compared to 44 in 2008. The Scottish Government claims the Westminster Government has yet to deliver any follow up action after committing at the end of 2014 to further work on options for supporting exploration through the tax system.
Wreckage of sunken oil rig support boat found
The wreckage of a sunken oil rig support boat was found during a bid map the dozens of sunken ships sunk in the Battle of Jutland. The ship was believed to have to have sunk following a fire in the 1980s. The scans of ships destroyed in the Battle of Jutland 99 years ago have been made for the first time using 21st Century technology.
Councillors asked to relax wind farm restrictions
Councillors are being asked to relax a planning restriction surrounding a massive 186-turbine offshore windfarm. Moray Offshore Renewables Ltd (MORL) won planning permission from the Scottish Government to construct 186 turbines 14 miles from the Caithness coast last year. Members of Aberdeenshire Council then approved two electricity substations near New Deer to support the scheme. Approval was granted on the condition that MORL provided council officers with information on how 20 miles of underground cabling would impact on roads and the environment.
Air Energi lands BP Iraq staffing contract
Air Energi has landed a contract with BP Iraq to supply personnel for its operations for the giant Rumaila and Kirkuk oil fields. The five-year deal is Air Energi’s biggest ever win in the region. The fields, which represent 40% of Iraq’s total production last year, are estimated to hold 20 billion barrels of reserves.
Wind farms’ £8.8million community benefit
nd farms contribute almost £9 million a year to community projects across Scotland, new figures have shown. The amount of community benefit cash paid to local good causes from on-shore wind farms has now reached just over £8.8 million a year, according to Local Energy Scotland. Grants paid out under the scheme have helped with a wide range of projects, including sending members of a West Lothian dance school to the European Street Dance Championships in Germany. Payments also allowed a new community hall to be build in Daviot, Aberdeenshire, and to a thermal imaging camera so residents in the Sutherland area of the Highlands can see where extra insulation is needed.
Ceona names new chief executive
ona has appointed a new chief executive. Mark Preece will take up the helm at the subsea firm. He replace outgoing chief executive Steve Preston, who will retire after 40 years in the industry.
Statoil’s Aberdeen base safe amid company cuts
Statoil’s growing Aberdeen base will be safe from the firm’s latest round of job cuts, a spokesman confirmed. The firm announced earlier today it would cut up to 2,000 posts, comprised of permanent and consultant positions, by the end of 2016. The move is part of the Norwegian operator’s robust austerity measures.
Statoil to reduce workforce by up to 2,000
Statoil today confirmed it would cut 1100 to 1500 permanent positions by the end of next year. The firm cited standardisation for the decrease. "We regret the need for further reductions, but the improvements are necessary to strengthen Statoil’s competitiveness and secure our future value creation," said Anders Opedal, executive vice president and chief operating officer in Statoil. The firm confirmed a further 525 consultant posts would also be cut. More to follow.
Shell gets permission to disturb marine life
The US has issued a permit which allows Shell to resume its oil exploration off Alaska’s Arctic coast. The permit, which approves Shell’s ability to disturb marine mammals, was granted in the wake of a Greenpeace protest targeting the company’s Polar Pioneer drilling rig. The National Oceanic and Atmospheric Administration signed off on a permit which allows noise from air guns, icebreaking, drilling and anchor handling. The move is in line with the Department of Interior’s earlier decision which approved Shell’s general plan for its oil exploration in the area.
#OG2050 – Marking the first anniversary of $115 oil
It’s 12 months since the price of oil plunged from the high platform of $115 per barrel into a pool of uncertainty and confusion, and the ripple effect from that dive into the unknown has touched most of us in one way or another. It’s appropriate that the results of the second Energy Voice survey are launched on the first anniversary of that descent. I say ‘first’ because nobody knows how long the current situation will last. However, we’ve all come to appreciate that the hope some of us had last summer of a rapid upswing in price to match the decline is not going to happen.
#OG2050 – Interactive timeline reveals industry’s technology sentiments
In the latest wave of findings from Energy 2050 - Securing our future, Energy Voice exclusively revealed the industry's sentiment around technology and development amid recent heightened sector pressures. The findings covered everything from, which companies are tightening technology budgets, the predicted knock-on effects and who respondents felt should lead the R&D charge. See all of the latest research findings in our interactive timeline below.
Scotland “punching above its weight” in climate change fight
Scotland is “punching above its weight” in the fight against climate change, environment minister Aileen McLeod said as a new report showed how reusing and repairing more products could help reduce greenhouse gas emissions. The Scottish Government has failed to meet its emissions targets for four years in a row but Ms McLeod insisted the country was on track to cut these by 42% before the 2020 target. Reusing, repairing and re-manufacturing products and materials could cut emissions by up to 11 million tonnes of carbon dioxide equivalent (MtCO2e) by 2050, a new report from Zero Waste Scotland has concluded.
Opinion: The oil industry and employee ownership
Os have had to think long and hard this year. They have discussed the finances of their companies with board members and reached decisions that have changed lives. There is no right or easy way to adapt to a new or significantly changed economic environment.
ENOC’s sweetened deal sends Dragon Oil’s shares soaring
ENOC has agreed to snap-up the remaining stake of Dragon Oil – a move which saw the firm’s shares jump by 8%. ENOC and Dragon settled on a £3.7billion price-tag for the company and a further £1.7billlion for the shares not already owned by ENOC – breaking down to £7.50 per share. The deal was agreed after lengthy negotiations between the two parties. The figure is a significant increase on the previous failed offer of £4.55 per share.
Cuadrilla’s UK fracking scheme gets planners’ go-ahead
roposals for fracking for shale gas at a site in Lancashire should be approved, planning officers have recommended. Lancashire County Council has published reports with recommendations on planning applications from shale company Cuadrilla to develop two new sites between Preston and Blackpool to explore for shale gas by drilling, fracking and testing the flow of gas. The report recommended that the application for a site at Preston New Road near Little Plumpton be passed, subject to a lengthy number of conditions being met, said the council. But planning officials recommended an application for a similar site at Roseacre Wood should be turned down because of an increase in traffic. The council’s development control committee is due to make decisions on the planning applications next week. Cuadrilla submitted revised plans after planning officers recommended refusal for both sites in January for different reasons.
OGA extends Isle of Wight licence
The Oil and Gas Authority has extended UK Oil & Gas Investments’ exploration licence located offshore the Isle of Wight by a year.
Total awards £3.3million contract for its high pressure North Sea well
Total has awarded Plexus Holdings PLC a £3.3million contract for its high temperature, high pressure Solaris gas exploration well in the Graben area of the North Sea offshore Norway.