North Sea bellwether BP plods on as dark clouds gather
Arguably the bellwether of UK North Sea oil and gas production the BP that we know today grew out of Anglo-Iranian with the name British Petroleum Company formalised in 1954.
Oil & Gas
Energy transition ‘unicorn factory’ launches in Aberdeen
The co-founder of subsea robotics firm ROVOP is set to launch a 'unicorn factory' in Aberdeen focused on accelerating the UK energy transition.
Increased North Sea well intervention ‘huge opportunity’ for UK supply chain, NSTA says
Increased well intervention could provide a "huge opportunity" for the North Sea supply chain and lead to "cheaper, easier, cleaner" UK production, according to the North Sea Transition Authority (NSTA).
£4billion in the balance: EnQuest CEO warns of impact of UK tax levy on investment
Another North Sea major has weighed in on the how the Energy Profits Levy will cause "irreversible damage to an indigenous and strategically important UK industry".
D2Zero acquires Hull engineering firm, announces new ETZ headquarters
North East energy transition group D2Zero has added another acquisition to its growing portfolio as it announces the location of its new headquarters in Aberdeen.
Hartshead Resources moves closer to field development plan for Anning and Somerville
Australian operator Hartshead Resources is moving closer to a field development plan for its Anning and Somerville development
Archer teams up with Aberdeen’s Raptor to tackle global decom market
Aberdeen technology company Raptor Data has agreed a deal with drilling firm Archer to (OSLO: ARCH) target the well decommissioning market.
After 50 years of collaboration, IOGP sets its sights on energy transition
In August, the International Association of Oil and Gas Producers (IOGP) celebrated its 50th anniversary since its founding in London.
Rumours GB Energy to be headquartered in Aberdeen reach fever pitch
Excitement reached new heights as reports suggested a decision had been reached on the location of the proposed state-backed energy firm – but government declined to confirm.
North Sea operator Harbour Energy completes buyout of German rival Wintershall DEA
North Sea operator Harbour Energy has completed the acquisition of German rival Wintershall DEA in a deal worth $11.2 billion (£8.53bn).
BBC to develop new factual drama about Piper Alpha disaster
State broadcaster BBC is developing a new factual drama about the Piper Alpha North Sea disaster.
Aberdeen’s ICR secures £2.7m in Middle East contracts
Aberdeen-headquartered maintenance and integrity solutions firm ICR Group has secured $3.5 million (£2.67m) in Middle East contracts over the last four months.
Spirit Energy seeks assessment partners for CCS project
Spirit Energy has put out a call for supply chain partners to aid the development of its Morecambe Net Zero (MNZ) project.
British business group calls for taskforce to avoid ‘catastrophic harm’ to North Sea jobs and UK economy
British Chambers of Commerce (BCC) director general Shevaun Haviland warned that while the "imperative for net zero is ratcheting up daily", the UK needs a plan in place "as soon as possible"
TWMA earned near £15 million in Q2 amid ‘growing demand’
Aberdeen drilling waste management firm TWMA has announced earnings of $19.5million (£14.85m) in the second quarter of 2024, showcasing “growing demand” the firm’s CEO claimed.
NEO Energy to ‘slow down investment’ in light of government changes
NEO Energy, and its 100% owner HitecVision, have announced that they are slowing down investment activities due to UK fiscal and political instability.
Ashtead Technology reports ‘record trading performance’ in H1 2024
Ashtead Technology (AIM: AT), Aberdeen-based subsea technology and services firm, has shared “another record trading performance” in its half-year results.
A win for putting mental health first
The recent Olympic Games in Paris once again brought together the world’s top athletes to compete for those much-sought after gold, silver and bronze medals.
Reiter’s radar: BP North Sea boss talks capital competition and workforce worries
Despite BP’s (LON: BP) North Sea boss being hopeful about the future of oil and gas in the UK, Doris Reiter says uncertainties driven by government policy are undermining investment confidence and the energy transition.
Labour’s North Sea tax hike to land £13 billion blow to UK economy, OEUK says
UK government plans to raise the windfall tax on North Sea oil and gas firms could cause a £13 billion hit to the UK economy between 2025 and 2029, a report has found.
BP stock trails Shell as investors turn away from green energy
London’s old-school oil stocks are no longer moving in tandem, as BP Plc underperforms Shell Plc due to concerns over the former’s green-energy transition and the outlook for earnings and shareholder payouts.
Oil and gas – not in favour but still in demand as M&A spreads
A wave of oil and gas ‘megamergers’ across the pond could be coming our way, as Europe’s supermajors – focused in recent years on a tilt to investment in renewables and ESG concerns – look to fill their future reserves through large acquisitions.
Shell seeking 20% cut in oil and gas exploration workforce
Shell (LON: SHEL) could cut its oil and gas exploration workforce by 20%, a new Reuters report has warned.
Shell Selene well ‘sidetracked’ just after 2024 UK drilling activity started
Well Slot is a monthly feature where Westwood’s Stephen Coomber looks at drilling activity and rig moves in UK and Norwegian waters.
Step Change in Safety releases findings from ‘largest-ever’ workplace survey
North Sea safety organisation Step Change in Safety has released a report based on the results of its largest ever industry survey.