Wood targets organic growth but ‘always looking at portfolio rationalisation’
The CEO of Wood (LON: WG) has not ruled out further divestments as the firm continues to execute its medium and long-term targets.
Oil & Gas
Analysis suggests Rosebank could be worth net $4bn to owners
New analysis suggests Equinor’s Rosebank project could be worth around $4bn to its shareholders, after tax.
Dangote celebrates refinery start, despite political clouds
The Economic and Financial Crimes Commission (EFCC) raided Dangote’s headquarters in Lagos on January 4.
Oil up and ships warned to stay away after strikes on Yemen
“The American and British enemy bears full responsibility for its criminal aggression against our Yemeni people, and it will not go unanswered and unpunished,” the statement continued. It said it would target sites on land and at sea, in defence of Yemen.
BlackRock strikes for GIP in $12.5bn deal
“Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects."
Namcor names second interim MD as Mulunga pursuit continues
State-owned Namcor said the official had a “stellar background in economics”. The company is “thrilled to have his expertise steering Namcor towards new heights in the petroleum industry”.
Tyra partners eye volume boost from new drilling
Partners behind Denmark’s Tyra redevelopment have confirmed a final investment decision for new drilling set for later this year.
Wood plans sale of stake in Aberdeen gas turbines firm Ethos Energy
Ethos Energy, majority owned by Wood, was launched as a £685m “super-firm” in 2014.
Energy sector wants to ‘work with every political party’ ahead of 2024 election
OEUK's David Whitehouse is in talks with every party as political battle lines are drawn ahead of the 2024 general election.
Mergers and acquisitions outlook for evolving energy services sector
The profitability of oil and gas versus the excitement for renewables is creating an interesting dynamic for investors across the energy industry.
GTA FLNG vessel heads past production site to Tenerife
The statement from the ministry said the arrival of the FLNG vessel was a “historic moment” for the GTA project. It reported that the LNG scheme was more than 90% complete.
Port of Nigg to host fabrication work for Norwegian oil project
Global Energy Group has been handed a contract by Subsea7 to fabricate subsea Spools and Anode Sled Structure for the East Kameleon project.
Iran seizes tanker US prosecuted for sanctions busting
This was in “retaliation for oil theft by the American regime, and [the vessel is] being transferred to the ports of the Islamic Republic for delivery to judicial authorities”.
Aberdeen drilling firm ‘extremely disappointed’ as it loses £13m HMRC tax case
Dolphin Drilling has vowed to appeal.
Molecular spuds Paraguay well as last hurrah
Molecular has repeatedly pushed back drilling on the Paraguay well. It was nearly ready to begin in September but ran into problems with its blow out preventer (BOP).
Chesapeake to buy US gas rival Southwestern for $7.4bn
Chesapeake Energy reached an agreement to acquire rival Southwestern Energy Co. for $7.4 billion through a deal that would create one of the largest US natural gas producers.
Norway’s oil and gas companies to step up exploration this year
Norwegian oil and gas companies will drill more exploration wells this year as the country seeks to maintain its position as a key supplier to Europe.
Thierry Desmarest, who made Total a major oil player, dies at 78
Thierry Desmarest, who transformed the French company now known as TotalEnergies SE (LON:TTE) into one of the world’s largest energy companies, has died. He was 78.
We can’t change China, so let’s keep a sense of proportion
The world is "disappointingly grey" in terms of energy production, writes Brian Wilson as he turns his attention to China's coal industry.
Shell and Harbour Energy in court over West of Shetland oil sale
A pair of the North Sea's largest oil and gas operators have gone to court over a contract spat brought on by European sanctions against Russia.
Open up and let’s get the life balance right
When I started my career, I was the first year group to receive a personal laptop. Access to email was not widespread, files were paper and your best friend was your giant key calculator (or an ‘adding machine’, real old school auditing).
‘Agreement’ reached after Mermaid accused of months-overdue payments
ConnTrak complained that Mermaid Group owed $635,000 in undisputed invoices which were months overdue.
Adnoc Drilling JV takes US drilling company stake
Adnoc Drilling and Alpha Dhabi set out their plans for the joint venture in November 2023. The company will acquire and invest in “tech-enabled oilfield services”. It aims to spend $1.5 billion.
Reabold fends off second ouster attempt as dissent shrinks
Reabold Resources shareholders have voted against a second attempt to oust the company’s management and board.
Lack of helicopter parts could hit production, says Norway oil minister
Norway’s energy minister has said oil and gas activity may be hit by a lack spare parts for S-92 helicopters.