Shell and Deltic take investment decision on Pensacola appraisal
Shell (LON: SHEL) and Deltic Energy (AIM: DELT) have taken a well investment decision on their planned appraisal of the Pensacola discovery.
Oil & Gas
Production restarted at Shetland Gas Plant
Production has resumed at the Shetland Gas Plant nearly two weeks after an outage brought the facility to a standstill.
Shell fined £1m over North Sea worker’s crushed feet
Martin Hill, then 63, narrowly avoided having both feet amputated.
Woodside takes long view on LNG, with Asian demand in focus
“As the market has grown and evolved and become more sophisticated we’re no longer source specific and the customers are often no longer destination specific as well,” said O’Neill.
Environmental groups launch legal challenges against Rosebank approval
Uplift and Greenpeace will challenge the decision to approve Rosebank on the basis of downstream emissions, legally binding net zero targets and impacts to marine life.
Exodus of rigs could have ‘serious impact’ on North Sea plans
An exodus of oil rigs means the North Sea market is expected to “tighten considerably” over the next two years, according to new analysis.
Chevron CFO orders staff to ‘do better’ after missing 2023 goals
Chevron (NYSE: CVX) chief financial officer Pierre Breber rebuked employees for failing to deliver on several key performance metrics in 2023, a year in which the stock lagged Big Oil peers.
Inductosense eyes Aberdeen office as firm doubles size and sales
Inductosense says it has undergone significant growth over the past year, with plans now afoot to open an Aberdeen office in 2024.
Adnoc strikes for Fertiglobe stake with $3.62bn deal
Fertiglobe is now the “world’s largest seaborne exporter of ammonia and urea fertilisers. Today’s agreement reinforces Adnoc’s long-term commitment to Fertiglobe and our continued focus on delivering growth and maximising value for the company’s shareholders.”
Noble and Odfjell land UK deal extensions with BP and Serica Energy
BP (LON: BP) and Serica Energy (AIM: SQZ) have respectively extended contracts with Noble Corporation and Odfjell Technology in the UK North Sea.
Updated: Shell agrees to sell German refinery stake to Prax Group
Shell Plc (LON: SHEL) agreed to sell its stake in the Schwedt refinery, a plant that supplies much of eastern Germany with fuel and has been caught up in Europe’s standoff with Moscow over the war in Ukraine.
Odfjell Drilling wins £250m two year contract extension with Aker BP for Deepsea Nordkapp
The two-year contract extension will keep the semi-submersible rig with Aker BP until the end of 2026
Russia’s Gazprom makes nearly £40m from UK gas field
Russia owned energy firm Gazprom made nearly £40m from its stake in a UK North Sea gas field last year, new documents have revealed.
BW Energy board rejects offer as unfair, but notes pressure
“At the same time [it is] hoping that shareholders with a long-term perspective will continue to support the company through joint ownership in the future”.
Seadrill closes UK office as senior exec departs
Seadrill will close its UK office in London, instead moving to ‘consolidate’ its corporate activity in Houston.
Plans for huge EV charging site at old Stoneywood oil HQ
A former Aberdeen oil HQ could be bulldozed to make way for what might be Scotland's largest electric vehicle charging station.
BP memo says Looney pay decision was not ‘unduly harsh’
An internal memo sent to BP senior staff denies its decision over forfeited share, salary and bonus payments to former CEO Bernard Looney is overly punitive.
Deal-hungry Woodside CEO draws criticism in rush for growth
At one of Perth’s most affluent beach-side suburbs, police were already in wait on an early morning in August as climate campaigners arrived near the home of Woodside Energy Group's Chief Executive Officer Meg O’Neill.
‘Embarrassing’: NSTA criticised for ‘paltry fine’ against Repsol
The North Sea Transition Authority (NSTA) has been criticised for a “paltry fine” against operator Repsol for breaching emissions rules.
ECOWAS offers Niger olive branch as pipeline readies
ECOWAS has called for the “immediate and unconditional” release of deposed president Mohammed Bazoum. The group said it would gradually ease sanctions, based on Niger’s response.
Equinor takes over Shell stake in Linnorm, Norway’s largest undeveloped gas discovery
Equinor has agreed to acquire Shell's stake in Linnorm, the largest undeveloped gas discovery within the Norwegian continental shelf (NCS).
Fitch downgrades Petrofac credit rating following share price trouble
Credit ratings agency Fitch has downgraded its assessment of North Sea operator Petrofac (LON: PFC) to a 'B-' in the latest sign of financial trouble at the firm.
Unite signs new collective bargaining deal covering 350 Repsol Resources offshore workers
Unite signs third recognition deal with an offshore operator following prior agreements with TotalEnergies and CNOOC.
Adnoc weighs takeover of $5bn chemical producer OCI
OCI said in November it had hired advisers to explore asset monetization opportunities in an attempt to reduce its holding company discount. It said at the time it was in “active discussions” on “attractive value propositions.”
Grangemouth workers set to be offered financial incentives to stay on to 2025
Petroineos to offer enhanced redundancy terms and above inflation pay rise for ‘jobs on a timer’