Aberdeen’s ASCO wins £70m contract with Aker BP in Norway
Aberdeen-headquartered ASCO has been awarded a £70 million contract by Aker BP for work across its Norwegian operations.
Europe
European Oil and Gas news
Dutch and Norwegians cashing in on wind and cable ship boom
2024 ended on a high at Concordia Damen, with the Dutch shipbuilding group reaching the roughly halfway stage in the design, build and delivery of two 550ft (167.5m) roll–on–roll–off wind turbine systems carriers for fellow Dutch company Amasus, with delivery of the first sister expected later this year (2025).
All Europe Posts
Updated: BP faces ‘eye-watering’ $25 billion hit over exit from Russia oil firm Rosneft
BP is facing a financial hit of up to $25 billion over its exit from Russia state-owned oil firm Rosneft.
BP boss summoned by UK business secretary over Rosneft ties
BP is under pressure from the Government to cut its ties with Russian oil giant Rosneft, which the British-based company holds a 20% stake in.
As Europe reconsiders energy security, LNG is set for the limelight
It is unlikely that Europe will agree to cutting gas flows from Russia, but the invasion of Ukraine has had a clear impact on security of supply considerations.
Ukraine crisis unlikely to have a ‘material impact’ on BP or TotalEnergies
Researchers don’t expect the ongoing conflict between Russia and Ukraine to dent the flow of cash to BP (LON: BP) or TotalEnergies (PAR: TTE).
European energy firms rush to buy Russian gas after attack
Europe’s top energy companies are rushing to buy more Russian gas even after President Vladimir Putin’s forces attacked Ukraine.
BP and other North Sea players keeping tabs on UK sanctions against Russia
BP, Wintershall DEA and IOG are among the North Sea firms which are monitoring UK Government sanctions against Russia, and could be impacted as tensions escalate.
High and volatile oil prices for the next five years, BofA forecasts
Brent oil prices average $60-80 per barrel until 2027, BofA Global Research has said in a new report, suggesting high prices are here to stay – at least in the medium term.
Valaris warns costly rig reactivations await after 2021 results
Offshore driller Valaris (NYSE: VAL) said its “transitional period” post-Chapter 11 bankruptcy will continue into the second quarter of this year as it deals with costly rig reactivations.
Hibiscus eyes more growth opportunities in North Sea and Southeast Asia
Hibiscus Petroleum (KLSE:HIBISCS) said it continues to assess future growth opportunities in the North Sea and Southeast Asia as the Malaysian-listed company strives to double its production by 2026.
VIDEO: Equinor’s Johan Castberg FPSO sets sail for Norway
Following a string of delays, Sembcorp Marine has completed construction of the hull and living quarters for the Johan Castberg unit, which has now begun dry transport from Singapore to Norway.
TotalEnergies picks Stena Spey for UKCS campaign
Stena Drilling has secured a new contract with TotalEnergies for the Stena Spey unit, which will begin a UKCS campaign in the spring.
Scotland could help ease Europe’s gas problem
Europe is too reliant on Russian gas. In fact, Europe is too reliant on gas full stop but it being mainly Russian gas makes it even more problematic.
Dutch oil and gas sector mulls UK-style transition deal
Amid the departure of Shell and the planned closure of the country’s largest gas field, producers in the Netherlands are calling for greater clarity over the future of the Dutch North Sea.
Equinor blazes the subsea drone stations trail
Six years ago, Equinor began a journey towards the creation of standardised docking infrastructure for subsea drones, a new class of vehicle with the potential to revolutionise robotic support in the oil & gas and maritime renewables sectors worldwide.
LNG imports will not save Europe if Russia cuts all gas flows
If the disruption to Russian gas deliveries spread beyond flows through Ukraine to include all Russian pipeline exports to Europe, liquefied natural gas (LNG) imports alone would not be able to meet the shortfall and additional supply levers would be required, the latest analysis from IHS Markit shows. Under such an extreme scenario mothballed coal and nuclear power would need to be restarted.
Japan to ensure its own gas supply before aiding Europe
Japan will make sure its own energy demands are met before aiding Europe with shipments of liquefied natural gas (LNG) in the event conflict erupts over Ukraine, according to the nation’s trade minister.
Biden scours globe to send Europe gas if Russia hits Ukraine
The Biden administration and European allies are searching the world for surplus natural gas to send to Europe in the event conflict erupts over Ukraine, including approaching China about its supplies, according to people familiar with the matter.
European Commission backs gas, nuclear for energy transition
The European Commission has confirmed that some gas and nuclear resources will be acceptable in the energy transition.
Aramco picks up Aker BP stake in Cognite
Saudi Aramco has bought a 7.4% stake in Norway’s Cognite, a software company.
Advance CEO heads for the door after dry hole in East Timor
Leslie Peterkin, chief executive of London-listed Advance Energy, will leave the company as part of a cost-cutting drive after a highly anticipated exploration well offshore East Timor failed to deliver commercial success. The company is now seeking growth through acquisitions.
Global Underwater Hub putting final touches on ‘long-awaited’ Subsea Expo 2022
Leaders from government, offshore energy, renewables, defence and aquaculture will gather in Aberdeen later this month for a much-anticipated conference.
BP’s Russia risk rises again as Ukraine crisis simmers
Of all the international oil majors, BP potentially has the most to lose if the situation in Ukraine triggers a crisis between Russia and the West.
Norway well slot: Three exploration wells active
Westwood Global Energy reports that there were three exploration wells active as of 24 January. One exploration well has spudded and completed in 2022.
Gastrade gives greenlight for Alexandroupolis LNG
Gastrade has taken the final investment decision (FID) for the Alexandroupolis LNG terminal.
North Sea ‘falling behind’ as global offshore investment returns to pre-pandemic levels
The North Sea is one of just a handful of regions “falling behind” as offshore oil and gas investment returns to pre-pandemic levels around the world.