Repeat of US oil’s sub-zero plunge unlikely as June expiry nears
Oil’s historic crash below zero looked increasingly like an aberration as the June contract rose for a fourth day in its last session of trading before expiring.
Insights
‘Unprecedented’ oil downturn demand to bring boost for Presserv
An “unprecedented” number of enquiries amid the latest oil downturn is expected to see an Aberdeen-based business nearly double its headcount and boost turnover.
Oil workers urged to put politicians on the spot with campaign to save jobs
A trade union today launched a major campaign to save tens of thousands of oil and gas sector jobs.
How can operators protect themselves from HSE action over social distancing regulations?
The debate on how best UK businesses can safely return to work is gathering pace - and volume - with employers now carefully picking through the various advice, regulations and laws put in place by Westminster and Holyrood to counter the impact of Covid-19.
‘Desperate situation’ for North Sea oilfield service firms as furlough costing six figure sums
Many North Sea oilfield service firms are being left in a “desperate situation” over whether to axe staff or pay mounting maintenance costs to keep them on furlough.
WATCH: BP ushers in Covid-19 measures at North Sea ETAP field
Oil and gas giant BP has introduced a raft of measures to protect staff against the spread of the cornavirus at its North Sea ETAP field.
Hydrogen key to net-zero, but not a silver bullet
For good reasons hydrogen is receiving much interest in the upstream business. Hydrogen can be synthesized from fossil fuels and the energy can be extracted with zero carbon emissions – it’s a silver bullet.
Tullow hits pause in Kenya
Tullow Oil has declared force majeure at its site in northern Kenya, putting plans to sanction the project this year in jeopardy.
ADNOC sees rebalancing signs
There are “signs that the market has tightened in recent weeks and the OPEC++ agreement … is working to start to rebalance the market,” ADNOC’s CEO Sultan Ahmed al-Jaber said in comments at the company’s ‘Virtual Majlis’.
Petrofac to ‘target additional savings’ as it looks to weather Covid-19 storm
Oilfield services firm Petrofac will "target additional savings" as the firm looks to weather the financial storm caused by the outbreak of Covid-19 and low oil prices.
Oil firm donates crucial PPE for workers
BP is hoping to help keep frontline workers safe with a donation of PPE to NHS Grampian.
Businesses warned not to flout competition laws during coronavirus crisis
Following the Covid-19 outbreak, the Competition and Markets Authority (CMA), has indicated it will relax enforcement of the competition rules under certain circumstances.
UK oil industry deserves ‘pat on back’ for keeping crude flowing, Premier boss says
Premier Oil’s boss says the UK oil industry deserves a “pat on the back” for keeping production flowing during the Covid-19 lockdown.
Prosafe vessel fleet use down by almost half in first quarter of 2020
Vessel-owner Prosafe has reported a significant knockdown in its fleet utilisation rate for the first quarter of 2020.
Turbulence ahead as UK’s offshore helicopter sector experiences ‘mensis horribilis’
The UK’s crippled offshore helicopter sector faces more financial restructuring, “opportunistic M&A” and possibly even government intervention, according to new analysis.
Are there any tax levers left to pull for the UK oil and gas industry?
Proposals to introduce temporary amendments to the Norwegian upstream tax regime, put to the Norwegian parliament a couple of weeks ago, and included within the Norwegian budget on Tuesday, have added to calls for fiscal change in the UK to support investment in the UKCS and underpin the oilfield services (OFS) supply chain.
HSBC sees oil and coronavirus virus turmoil boosting Middle East deals
A historic crash in oil prices and fallout from the coronavirus pandemic will accelerate asset sales in the Middle East and open up a gap for sovereign wealth funds to make “opportunistic investments,” according to HSBC Holdings Plc.
Redundant Halliburton worker sets up Aberdeenshire hand sanitiser business
An Aberdeen oil worker who was recently made redundant from Halliburton due to Covid-19 has now set up his own hand sanitiser business to help tackle the virus.
Unused oil rigs sink Awilco Drilling to losses of £7.5million
A pair of oil rigs lying idle in Invergordon sank Awilco Drilling to losses of £7.5million in the first quarter of 2020.
Offshore workers ‘dumped’ as Atlas Professionals flouts furlough while UK scheme is extended
Offshore workers have said they’ve been “dumped” by a major recruitment firm after it decided not to offer the UK furlough scheme due to holiday pay concerns.
Rig crew raise cash for worthy causes
The crew of the Ocean GreatWhite drilling rig, currently anchored in the Firth of Forth, have raised £3,000.
Loan to help pipe-cutting specialist survive crisis
North Sea boss Ian Smith has said his firm is equipped to “navigate through these unprecedented times” after a £100,000 coronavirus business interruption loan from Barclays.
Energy safety training firm Survivex reopens Aberdeen base
Offshore training provider Survivex has reopened its Aberdeen centre at reduced capacity to combat Covid-19.
Coronavirus derails Vantage’s rigs in Congo
Vantage Drilling has declared force majeure for two of its rigs, one of which as a result of a coronavirus outbreak.
Furlough extension ‘welcomed’ but unlikely to halt North Sea redundancies, industry chiefs warn
North-east energy sector chiefs largely welcomed an extension of the UK Government furlough scheme, but cautioned it may do little to roll back the tide of oil and gas redundancies.