Perseverance yet to pay off for Bahamas oil explorer
Bahamas Petroleum Company (BPC) has said its Perseverance well struck oil, but not commercial volumes.
Markets
Over capacity to drive M&A activity
Anderson Anderson & Brown Corporate Finance (“AABcf”) is delighted to share with you our quarterly Deals+ update for Q4 2020 in conjunction with Energy Voice, highlighting selected oil and gas M&A and fundraising transactions across the UK.
Indonesian NOC Pertamina readies IPO
Indonesia’s national oil company (NOC) Pertamina is preparing to take at least one of its business units public during the second-half 2021.
Petrofac postpones full-year results due to Covid restrictions
UK-headquartered energy service firm Petrofac has pushed back the publication of its full-year 2020 results to mid-April.
Aker Solutions tendering for £6.5bn of new work, 2020 ebitda down by a third
Ebitda at Norwegian energy service firm Aker Solutions dropped by 33% to £128 million in 2020, a year of “unprecedented challenges”.
BP sinks to losses of £18bn in 2020 as Covid and crude price crash take toll
BP fell to pre-tax losses of £18 billion in 2020 as the energy giant’s balance sheet creaked under the weight of lower oil and gas prices.
Big businesses told to slash payment times to small suppliers
Big businesses have been told to pay small suppliers within 30 days as the Government strengthened the Prompt Payment Code.
Updated: Oil prices fall as OPEC+ extends talks to second day without decision
Oil dropped the most in two weeks with OPEC+ yet to resolve an impasse on whether to keep raising production at a time when the pandemic threatens demand.
Updated: Oil advances on Covid-19 vaccine optimism and US stimulus
Oil climbed as the UK is poised to grant regulatory approval to another Covid-19 vaccine and as the US passed its stimulus bill into law.
Tesla slides in first day of trading on the S&P 500 Index
Tesla Inc.’s shares fell as much as 6.4% in premarket trading on its first day after being added to the S&P 500 Index, as the broader market slid and the stock retraced gains from Friday when tens of millions of shares were purchased by index-fund managers.
Updated: Hurricanes and Appomattox subsurface issues leave Shell facing hefty charges in Q4
Shell said today it expects to record post-tax charges of £2.6 billion to £3.4bn in the fourth quarter of 2020.
Oil falls with virus mutation raising lockdown risks
Oil fell after posting a seventh weekly gain on concern a mutation of Covid-19 discovered in the U.K. could speed transmission of the virus and lead to more lockdowns.
Oil and gas leopards changing their spots to focus on investor returns
More oil and gas firms are “pivoting” their business models towards shareholder returns and away from high risk and reward exploration, an analyst has said.
Cairn to dish out special dividend as Senegal sale nears completion
Cairn Energy will return £188 million to shareholders following completion of the sale of its Senegalese assets to Woodside.
A bright future for the Guyana economy post-Covid
ABIS Energy is passionate about Guyana. We have been engaged with the Guyana economy for the past 4 years and foresee a bright future.
88E Preparing for Maiden Drilling of 1.6 Billion Barrel North Slope Project
88 Energy Ltd (ASX 88E; LON 88E) this week executed its drilling contract to drill the Merlin-1 and Harrier-1 wells for Project Peregrine on the North Slope of Alaska.
Rusty won’t let sun set on DGO’s success story
“We set it up from day one to focus on free cash flow and, as we’ve grown, that strategy really hasn’t changed. The industry has operated for too long on negative free cash flow.”
Reviewing your lending options – an essential New Year’s resolution
As we come to the end of a torrid year, business leaders in the north-east’s oil and gas industry breathed a collective sigh of relief on news that coronavirus vaccines look imminent. Oil prices rose around 8% globally following news that three Covid-19 vaccines both showed high efficacy and will be available next year.
S&P strikes deal to buy IHS Markit for $39bn
S&P Global Inc. has agreed to buy IHS Markit Ltd. for about $39 billion in stock, a deal that accelerates the wave of consolidation among the finance industry’s biggest data providers.
Andrew Austin’s new venture Kistos looks to raise £32m via imminent AIM listing
Entrepreneur Andrew Austin’s new energy sector investment company expects to raise £31.75 million via its initial public offering, slated for this week.
Commodities on edge as tight US election hurts gold, aids oil
Gold fell with copper and oil pared gains as tight races in battleground states in the U.S. election shook traders’ initial faith in a decisive outcome, raising the prospect of a prolonged wait for the final result.
i3 shares rise on farm-out and maiden dividend talk
Oil firm i3 Energy is in talks over a potential farm out of stakes in its Serenity discovery in the outer Moray Firth.
Updated: Oil trims losses after plunging to four-month low on virus fears
Oil futures bounced back from session lows as stronger-than-expected US economic growth data and signs that Europe may get more stimulus offset some of the fallout from renewed lockdown restrictions.
Shell and BP investors look to results amid tough year for oil majors
Britain's two biggest oil companies are set to update shareholders next week amid a low oil price and a race to reduce emissions.
OPEC+ vows ‘proactive’ response to precarious oil market
The OPEC+ alliance warned of a “precarious” outlook as a resurgent pandemic hurts oil demand, dropping further hints about a potential change of policy next month.