‘New phase’ as ASCO targets 50% bump in profitability
Energy logistics firm ASCO plans to increase profitability by 50% over the next five years, with the majority of its returns coming from new energies by 2030.
Oil & Gas
‘Great well test’ at UK Crosgan discovery
A test of the Southern North Sea Crosgan discovery has been hailed for its promising results.
i3 and Europa mull fresh bid for Tain North Sea discovery
Europa Oil and Gas (AIM: EOG) and i3 Energy (AIM: i3e) are considering plans to pick up the Tain North Sea discovery given up by Repsol earlier this year.
Hunt to announce UK Budget on March 6 as Tories push for giveaways
Chancellor Jeremy Hunt will announce the next UK budget on March 6, giving the governing Conservatives what’s likely their last opportunity to announce giveaways before a general election.
Russia expects oil price to average $80-$85 a barrel in 2024
Russia expects Brent prices to average between $80 and $85 a barrel next year amid OPEC+ output cuts, Deputy Prime Minister Alexander Novak said in a TV interview.
OPEC nations affirm commitment after Angola exits
OPEC nations Iraq, Nigeria and the Republic of Congo affirmed their commitment to the oil-producer group following the exit of Angola last week.
Judge strikes down $11bn secret court award against Nigeria
At the heart of the case is a failed 2010 gas deal between Nigeria and P&ID.
Aberdeen drilling firm faces legal action over scrapped contract
An Aberdeen oil rig firm has received notice of legal action over a cancelled contract and a dispute over payments.
Allseas fires into BP pipeline work off West Africa
“Pipeline Production worked their magic, completing the welding and FJC qualification programmes at a super-fast pace. Equipment preparation was a push, but in true Allseas style everything was delivered on time,” the company said on LinkedIn.
Harbour Energy – Wintershall DEA deal creates ‘challenger’ to Aker BP
Harbour Energy (LON: HBR) shares have jumped after announcing an $11.2bn mega-deal for Wintershall DEA - in a pivot away from the UK sector.
Singapore-listed player tees up African move
A statement from Rex said it had identified an offshore licence in West Africa as a “first possible investment”.
Viaro acquires 15% interest in Bressay and EnQuest Producer FPSO
A subsidiary of Viaro Energy, RockRose UKCS 10, has picked up a 15% stake in the Bressay field and EnQuest Producer FPSO.
Shell extends job cuts as CEO seeks to trim costs
When asked by Energy Voice Shell could not confirm what role it would be cutting or where the cut jobs will be from.
Vaalco’s Maxwell tots up miles to keep the ship on course
“It helps them, it’s beneficial for both sides,” Maxwell said. “It’s a lot of give and taken. We don’t always have a meeting of minds, but it doesn’t prevent us from sitting down.”
North Sea divers ‘Wish it could be Christmas everyday’
A group of North Sea divers are getting into the festive spirit by belting out Wizard's ‘I Wish It Could Be Christmas Everyday’ while in saturation.
Valaris splashes out $337m on new Drillships this Christmas
Valaris has given itself an early Christmas present with the gift of two drillships.
‘Accident waiting to happen’: Valaris fined £130k after North Sea crane boom collapse
Drilling company Valaris (NYSE: VAL) has been fined £130,000 by an Aberdeen court following a North Sea crane boom collapse in 2016.
Harbour Energy to buy Wintershall DEA in $11.2bn deal
North Sea giant Harbour Energy (LON: HBR) has unveiled an $11.2bn deal to buy German oil and gas firm Wintershall DEA.
Rosebank: Risk and reward underpinned by geology
Rosebank has been known as a complicated prospect to tap into many years - we speak to Professor Nicholas Schofield about the much-overlooked geology underlying this complexity.
Valeura completes Nong Yao drilling, preps for Wassana return
“This campaign focused on the area first developed at Nong Yao, and illustrates our team’s ability to add volumes through infill drilling and to extend the economic life of our legacy producing assets.”
Azule signs up three more deepwater licences
“Blocks 46 and 47 have never been explored before and represent a new frontier exploration area that can be a game changer for our company and the country’s energy industry."
Europa strikes for Equatorial Guinea with Antler agreement
It expects the overall chance that one of the three prospects is commercial to be 91%. All three prospects can be drilled from a single well with two sidetracks.
North Sea flights cancelled over high winds days before Xmas
Aberdeen has been issued a yellow wind warning today which is causing North Sea flights to be cancelled or delayed less than a week before Christmas.
Orcadian floats CCS-equipped gas to wire plans in Southern North Sea
Plans would see a converted jack-up used to house power and CCS equipment, with electricity output tied into a nearby wind substation.
HSE finds Apache failed to properly maintain Beryl flare supports since 2013
The Health and Safety Executive (HSE) has issued an improvement notice to North Sea operator Apache over its failure to properly maintain supports to the flaring system on its Beryl hub.