Chancellor of the Exchequer Jeremy Hunt is weighing proposals to extend the UK’s windfall tax on the profits of oil and gas companies as one of several revenue-raising options under consideration to help finance personal tax cuts at his budget next week.
The initiative aims to give the North Sea supply chain a clearer picture of upcoming projects
Viaro Energy previously held a 50% stake in the P2539 licence after it acquired Spark Exploration last year.
Energean has begun producing gas at Karish North, the company said, while also celebrating the signing of an additional gas sale and purchase agreement.
Hunting beat its earnings expectations in full-year 2023, as high activity in the Middle East and offshore South America saw orders grow to record levels.
While the deal is immediately accretive to Vaalco, the FPSO on Baobab will go offline in early 2025 for maintenance and upgrades. It should be back in production in 2026.
A new report suggests Big Oil continues to link executive pay to increased fossil fuel production, even if this conflicts with energy transition targets and climate policies.
One person has died and another is critically injured following a helicopter crash in Norway.
Diamond Offshore (NYSE: DO) stands to lose more than $24m in revenues after a drilling kit collapse incident on a BP project in the West of Shetland.
BP plans to invest about $1.5 billion in Egypt during the next few years as it seeks to develop gas projects and drilling in the North African country.
Helicopter operator Bristow (NYSE: VTOL) has signed a deal for 10 AW189 super medium helicopters to meet customer demand.
Sapura Energy and Norway’s AF Offshore Decom have launched a new decommissioning venture, Kitar Solutions.
Rig operator Diamond Offshore Drilling (NYSE:DO) posted a loss of $145 million as it released its fourth quarter results.
The UK Chancellor is facing calls to remove the controversial tax on oil and gas giants ahead of his spring budget next week.
"Simplistic narratives" from politicians and university academics have tarnished vital sector, experts warn.
Shares of Chevron and Hess slipped after Exxon Mobil said it’s considering a move that could break up the companies’ $53 billion merger and increase its share of Guyana’s giant offshore oil reserves.
Orcadian Energy has published further details on its development plans for new licences, including at Fynn Beauly where it hopes to use geothermal heat to help produce heavy oil.
BP is showing signs of a pivot back toward oil and gas that should boost returns, but is doing it too quietly to benefit its share price, according to activist investor Bluebell Capital Partners.
The UK has made impressive ground in its efforts to remove carbon from its energy system. As the country closes in on 2050, it will become harder – and is currently off course to achieve net zero, according to DNV.
Aberdeen-headquartered Dolphin Drilling (OSLO: DDRIL) has said "up to 500 offshore vessels" in the North Sea could be affected by court decisions in its ongoing dispute with tax officials.
Woodside Energy Group Ltd. (ASX:WDS), Australia’s top liquefied natural gas exporter, expects consumption of the fuel to rise 50% over the next decade, pushing the supplier to consider further expansions.
Around 100 contractors employed by Wood and Kaefer agree to new collective bargaining agreement.
McDermott International faces a claim for “maximum recoverable damages” linked to its failure to complete a contract for BP offshore Mauritania and Senegal.
Xlinks First Ltd. has appointed a new chief executive officer to lead its ambitious plan to transmit electricity from a solar and wind power plant in Morocco to the UK via a subsea cable,
QatarEnergy (QE) will target 142 million tonnes per year of LNG production before 2030, up from its previous goal of 126mn tpy by 2027.