ICYMI: OEUK Budget letter warns Chancellor of North Sea finance and investment risk
This article was first published on March 6.
Markets
Equinor acquires Suncor North Sea business in $850m deal
Norwegian oil giant Equinor (OSLO: EQNR) has signed an $850m deal to acquire the UK North Sea business of Canadian firm Suncor (TSE: SU).
UK energy suppliers must pass on benefit of falling costs – Shapps
British energy suppliers must pass on the benefit of falling wholesale energy costs to consumers in the form of cheaper tariffs, according to a senior government minister.
‘Never say never’: Chevron boss doesn’t rule out oil major consolidation
Chevron (NYSE: CVX) CEO Mike Wirth has not ruled out consolidation among oil majors, but said it would not be easy to carry out.
BP ends publication of World Energy Review after 70 years
BP (LON: BP) has decided to end the publication of its statistical review of world energy after 70 years.
Shell explored leaving Europe for US headquarters – report
Shell (LON: SHEL) considered moving its headquarters out of Europe and into the US, in a major blow to the City of London.
Brits in America: Considerations for UK Pensions & Investments
My husband and I are in the process of moving from Aberdeen, UK to Houston, Texas. Surprisingly enough, not because of his engineering career in Oil & Gas, but because I am a Chartered International Financial Planner.
Deep sea mining could threaten whales and dolphins, scientists warn
The loud noise made by deep sea mining could pose a grave danger to whales and other sea creatures that use sound to communicate, scientists have said.
Playing the high stakes deep sea mining table
Deepsea mining is arguably the most exciting yet controversial segment of the blue economy, which the United Nations estimates boasts an estimated annual turnover of $3-6trillion.
M&A activity remains buoyant in H2 2022
AAB Corporate Finance is delighted to share with you our Deals Update for H2 2022 in conjunction with Energy Voice, highlighting selected energy merger and acquisition (M&A) and fundraising transactions across the UK.
NEO Energy names Nexen veteran as new CEO
M&A specialist Russ Alton is out, project manager Paul Harris is in.
Record orders crown a major restructuring year for Baker Hughes
Baker Hughes (NASDAQ: BKR) capped its big restructuring year of 2022 with “record” orders during Q4.
‘Bloated’ Harbour Energy job cuts: Could other North Sea firms follow suit?
Harbour Energy (LON: HBR) is "bloated" staff-wise, say analysts, and this week the firm said it would slash jobs in Aberdeen due to the UK Government windfall tax.
Serica says Tailwind deal can deliver £470m tax offsets and 30m barrels
Serica Energy (LON: SQZ) has issued new info on its proposed takeover of Tailwind Energy, arguing that the latter’s tax losses could deliver a positive to shareholders in coming years.
Oil prices claw back some losses as demand concerns linger
Oil prices edged higher after tumbling around 9% over the previous two sessions, with demand concerns continuing to hang over the market.
Tokyo Gas nears $4.6 bllion deal to buy US shale driller Rockcliff
A Tokyo Gas Co. unit is in advanced talks to buy US natural gas producer Rockcliff Energy in a deal worth about $4.6 billion, including debt, a person with knowledge of the matter said.
Oil prices: New Year misery deepens as demand concerns tick up a notch
Oil’s miserable start to the year deepened as a deteriorating demand outlook came to the fore, buttressed by predictions for a US recession, China’s near-term struggle with Covid-19, and milder winter weather.
Brent Crude oil climbes in price during first session of 2023
International oil price benchmark Brent Crude climbed in the year’s first session as traders digested mixed signals on demand from China, the world’s largest crude importer.
FIDs predicted in 2023 for large untapped UK oil and gas fields
Investment decisions could be on the way for Perth, Bentley and Bressay in the North Sea, alongside West of Shetland giants.
Petrofac shares take a hit on $100m losses announcement
Analysts weigh-in on Petrofac’s dire news and the road ahead.
Tailwind ‘is not the endgame’: Serica eyes up more deals and projects
After Tailwind, Serica Energy eyes new projects in the UK like the Belinda discovery, along with more deals and a potential energy transition shift.
Serica Energy to buy fellow North Sea operator Tailwind in £367m deal
Completion of the deal will put Serica in the club of top 10 producers in the UK North Sea.
$1.4 trillion investors call on Big Oil for more aggressive climate targets
Shareholder activist group Follow This filed resolutions with Shell (LON: SHEL), BP (LON: BP), ExxonMobil (NYSE: XOM) , and Chevron (NYSE: CVX).
North Sea top producer Harbour Energy knocked out of FTSE 100, Petrofac relegated from 250
Harbour Energy (LON: HBR), the top producer in the North Sea, has been knocked out of the club of leading publicly-quoted UK companies.
‘Game-changing’ Aberdeen carbon capture firm targets £1bn revenues
An Aberdeen-based carbon capture firm is launching its first round of fundraising with the aim of generating £1bn revenues over the next 10 years.