Centrica boss ‘worried’ about low gas storage reserves
Christopher O’Shea, chief executive of British Gas owner Centrica, has said he is “worried” about low gas reserves this winter.
Europe
European Oil and Gas news
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.
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
Saipem teams up with Hyperion in East Med focus
Saipem has established a joint company with Hyperion Systems Engineering, with a focus on the Eastern Mediterranean.
Eni signs pact with China’s Zhejiang on gas and LNG
Italy’s Eni and China’s Zhejiang Energy will work together to pursue gas and liquefied natural gas (LNG) opportunities as part of a strategic switch towards cleaner fuels.
£9m funding pledge for Shetland decom facility a step in right direction
Harbour and industry chiefs say a £9 million funding pledge for a “game-changing” ultra-deep water decommissioning facility in Shetland is an important step in the right direction.
Blocked Suez Canal halts key oil and LNG trade flows
The fallout from one of the world's largest container ships getting stuck in Egypt’s Suez Canal is disrupting oil and LNG shipments. Crude prices are already rising as the crucial world shipping choke point is set to be cut off for at least another two days.
Andrew Austin’s Kistos clinches maiden acquisition
Entrepreneur Andrew Austin’s new energy sector investment company Kistos has clinched its maiden acquisition for an initial £190 million.
Eni completes Damietta LNG deal with Naturgy
Eni has completed a deal settling differences over the Damietta LNG plant.
Eni sells Pakistan assets to Prime
Italy’s Eni has sold its Pakistan business to Prime International Oil & Gas Company as part of a plan to streamline its upstream portfolio to focus on strategic assets.
Risk managers needed in the transformation of energy markets
The big question is what role natural gas will play in the changes in the global energy market, says the CEO of MET International. György Vargha explains why it is so important to manage risks in an integrated way.
Leif Höegh, Morgan Stanley team up to buy Höegh LNG
Leif Höegh & Co. (LHC) in a joint venture with Morgan Stanley Infrastructure Partners have made a 23.5 krone ($2.73) per share offer for Höegh LNG Holdings.
TechnipFMC wins Malaysia deep-water deal
UK-based engineering giant TechnipFMC has won a deal worth between $250 million and $500 million for a key contact at the Petronas-operated Limbayong deep-water development offshore Malaysia.
BlackRock takes GasLog off the market
BlackRock’s Global Energy & Power Infrastructure (GEPIF) will acquire all publically held shares of GasLog, taking the LNG carrier private.
Neptune strikes deal with Wintershall Dea for German oil and gas fields
Private-equity backed Neptune Energy will buy interests in several German oil and gas fields from Wintershall Dea.
What links America’s Cup racing sails and the energy transition?
It may seem an unlikely link but advances in racing sails have given a team of marine robotics experts at Innovo inspiration in their quest to help reduce carbon emissions from some vital energy industry activities.
Cairn Energy attempts to seize Indian assets over tax dispute
Cairn Energy is increasing pressure on the Indian government to pay a $1.2 billion arbitration award after filing a lawsuit in the U.S.
BHP is bullish on oil and gas, eyes deals
BHP Group on Tuesday said it sees a clear opportunity in oil and gas to enjoy strong returns over the medium term and is ready to seek counter-cyclical deals in a world where many energy companies have cut back on exploration and new projects.
Petrofac wins its first Australia decommissioning contract
Petrofac has won its first contract for decommissioning work in Australia after building a track record in the UK.
Serinus focuses on returns, as debt shackles come off
Serinus Energy’s “shackles are off”, the company’s CEO Jeffrey Auld has said, with a newfound focus on generating cash and modest drilling plans.
Asia Pacific offers plenty of subsea opportunities
The Asia Pacific region offers plenty of opportunities for the UK’s subsea engineering sector, both in the traditional oil and gas business, as well as the rapidly expanding renewable energy industry, reckons Subsea UK.
Tawke output slips in 2020
The Tawke licence in Kurdistan produced 110,300 barrels per day in 2020, DNO has reported, down from 124,000 bpd in 2019.
Borr Drilling ‘encouraged’ by increased activity as $35m added to backlog
Borr Drilling said in its new fleet status report that it had added $35.1 million over 480 days to its total backlog.
Russia pushes ahead with Nord Stream 2 before US sanctions
Russia is stepping up work on the Nord Stream 2 pipeline before the US tightens sanctions against the controversial project designed to feed more natural gas into Germany.
Severstal balances domestic demand with international option
Russia will remain the heart of Severstal’s focus for the near term, but uncertainty around the timing of a contract with Gazprom has encouraged international growth.
Bank-owned Bourbon emerges
Bourbon Maritime has emerged from bankruptcy and reorganisation, under which 1.5 billion euros ($1.83bn) of debt was cut.
Total in talks over 500 voluntary job cuts in France, CEO says
Total SE is discussing a plan for 500 voluntary job cuts in France, where the oil company has 35,000 employees, Chief Executive Officer Patrick Pouyanne said in an interview with France Inter radio.
A stack more floaters are headed for the chop
The direction of travel appears clear; around a quarter of the current offshore floater rig fleet - ships and semi-submersibles - will be sent to the scrapyard near-term.