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.
Oil & Gas
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.
UK ‘committing suicide economically’ over North Sea policies, Hunting CEO says
Hunting CEO Jim Johnson sees strong growth for the 150-year-old firm in South America and the Middle East, but his outlook is less positive for the UK.
EPL changes not to impact Rosebank but will jeopardise ‘further investments’
Rosebank remains unchanged despite UK fiscal instability, however, future investment worth up to £10 billion may be impacted, said an Equinor boss.
Uncertainty for North Sea as UK government will not challenge Rosebank and Jackdaw reviews
The UK government will not challenge judicial reviews brought against development consent for the Jackdaw and Rosebank offshore oil and gas fields in the North Sea.
Hunting brings in almost $500m in H1 2024
Engineering group Hunting (LSE:HTG) saw revenue grow to almost $500 million in the first half of the year.
NSTA considers naming operators that fail to meet decommissioning deadlines
The North Sea Transition Authority (NSTA) regulator is warning it could soon name and shame operators who fail to meet decommissioning deadlines.
WATCH: ONS and TotalEnergies face ‘the naked truth’
Protestors took over the TotalEnergies stand on the show floor of ONS in Stavanger in the latest in a string of “naked truth” protests.
Wood expects to make $165m after signing deals to sell non-core businesses
Wood Group (LON: WG) expects to make around $165m after signing separate sales agreements to sell two of its non-core businesses.
TotalEnergies unit fined $48m for attempted market manipulation
A trading unit of French oil major TotalEnergies (LON:TTE) has been fined $48 million by the US Commodity Futures Trading Commission over allegations that the firm attempted to manipulate gasoline markets.
Ten North East energy supply chain firms share in £1.5 million ETZ funding
ETZ Ltd has awarded £1.47 million in grants to ten North East Scotland firms as part of the Challenge Fund focused on driving the energy transition and creating jobs.
Fast-tracking the energy transition with ‘decaf gas’
Climate scientists are warning that 2024 is on track to be the warmest year on record. Global temperatures are likely to exceed those in 2023 and every single month since June 2023 has ranked as the world’s warmest compared to pre-industrial levels.
Harbour bumps up Wintershall purchase completion to September
UK oil and gas company Harbour Energy (LON: HBR) expects to complete the acquisition of German firm Wintershall Dea’s asset portfolio in early September.
Why did Archer bring a race car to ONS?
Those attending the ONS conference in Stavanger this week will have seen plenty of eye-catching exhibitions but Archer's race car may take the cake.
Praise for ‘pragmatic’ Norway as Europe’s biggest gas producer at ONS
Norway's role supporting Europe through its energy crisis and cutting emissions in Africa and India was credited to its positive support for its oil and gas industry.
Norway oil output, renewable push go hand-in-hand, Aker BP says
Norway must make more area available for hydrocarbon exploration and scale up the country’s nascent renewable sector in order to protect domestic suppliers of parts and services, according to the head of the country’s second biggest oil and gas company.
North Sea offshore energy sector gathers in Norway for 50th ONS
Delegates from across the North Sea offshore energy sector are gathering in Norway's oil and gas capital Stavanger this week for the 50th anniversary of ONS.
Power Moves: Gillian King leaves NZTC and more
Gillian King has left her position as the director of business development at the Net Zero Technology Centre (NZTC).