Oil extended declines after falling to a one-week low as investors fled to haven assets including gold and the yen amid renewed concern the UK’s decision to leave the European Union will hinder global growth.
Green lobbyists and politicians yesterday accused Shell of shirking its environmental responsibilities with its plans to leave the gigantic legs of its Brent field platforms in the North Sea. Mark Ruskell, Scottish Greens MSP for Mid Scotland and Fife, said the Brent field had generated millions for Shell and its shareholders and should be left in the same condition in which it was found. On Monday, Shell said it would recommend leaving the 300,000 tonne legs from three of the field’s four platforms in place, along with storage cells, the lower section of the Alpha platform’s jacket, drill cuttings and heavier pipelines entrenched in the seabed.
The oil and gas investment company led by entrepreneur Algy Cluff is undervalued by almost £40million, a new report says. Cluff Natural Resources’ (CNR) current market capitalisation, which denotes the value of its outstanding shares, is £3.2million, according to the London Stock Exchange. The Aim-listed company’s shares, which reached 4.4p at one point last July, currently sit at 1.2p.
Danny Hawthorn, the managing director Trac Oil & Gas is modest about the company’s recent success.
A north-east back deck systems maker has deployed a piece of rental kit it rescued from Ceona Offshore, which went bust late last year. Maritime Developments initially delivered the 400-tonne reel drive system to Ceona in mid-2014, but agreed to buy it back from administrators at an auction after the stricken subsea engineering contractor folded. Maritime, which has bases in Aberdeen, Peterhead and the US, wrapped up the deal in March before swiftly putting the system to work on its first ever mission, installing risers and umbilicals in the UK continental shelf.
A manufacturer in Argyll has signed a deal to potentially supply wind turbines to Vattenfall as it breaks ground on a £27million expansion.
Lest we forget. 28 years on from the worst disaster in the North Sea's history, Energy Voice looks back on how the Piper Alpha tragedy unfolded and changed the role of safety offshore forever. This excerpt was published on Friday July 8, 1988.
Lest we forget. 28 years on from the worst disaster in the North Sea's history, Energy Voice looks back on how the Piper Alpha tragedy unfolded and changed the role of safety offshore forever. This excerpt was published on Thursday, July 7, 1988 at 5am.
Lest we forget. 28 years on from the worst disaster in the North Sea's history, Energy Voice looks back on how the Piper Alpha tragedy unfolded and changed the role of safety offshore forever. This excerpt was published on Thursday, July 7, 1988 at 5am.
The Brexit result was just a short time ago and already much has been written about its potential impact on the UK’s renewables industry. Common themes that have emerged are loss of investor confidence, concerns over energy security and delays in much needed investment into the UK’s energy infrastructure. At best, the commentary can be described as well informed speculation. The truth is that nobody can predict the impact with any degree of certainty.
The reality of the devastating impact a major Incident has on friends and families, and the vast reach it has into the community and into the future is immeasurable.
A major player in U.S. renewable energy happens to be a five-sided building in Virginia usually associated with deployment of power rather than consumption of it.
Thousands of Norwegian offshore workers have said they fear cuts amid the decline in oil price have led to a negative impact on helicopter transport.
North Sea operator EnQuest has been hit with an improvement notice by the Health and Safety Executive (HSE) after a gas leak.
Shell (LON: RDSB) plans to leave platform legs, storage cells and entrenched pipelines in the North Sea at the end of its multi-billion pound Brent decommissioning campaign, the oil major said yesterday. Duncan Manning, Shell’s business opportunity manager on Brent Decommissioning, said the removal of certain items of subsea infrastructure was potentially dangerous for workers and had little merit for the environment. On the back of years of research and consultation, the firm is preparing to submit its recommendations to the Department of Energy Change (DECC) by the end of the year.
Oil prices won’t rise much further over the next year and a half as demand growth slows and refiners comfortably meet gasoline consumption, according to the world’s largest independent oil-trading house.
The modules for Statoil's Gina Krog development are on their way to the North Sea.
Brent crude sunk below $50 a barrel as estimates showed Nigerian production rose last month following repairs to infrastructure that had been damaged by militant attacks.
Dana Petroleum today hit out after Enquest drilled an exploration well at the centre of the North Sea's latest oil find without its consent to do so, according a statement posted on its website.
Britain will depend on more imported natural gas and electricity over the next 14 years even as demand is set to shrink, according to the country’s network operator.
The Oil and Gas Authority (OGA) has approved two licence extensions and three licence conversions for UK Oil & Gas (UKOG).
One of the top women in oil and gas has been ousted as part of a strategy and management shakeup at the exploration and production (E&P) arm of Centrica.
Shipping services giant Clarksons warned on profits yesterday, saying its 2006 performance would be “materially lower” than last year.
Amec Foster Wheeler has won an engineering, procurement and construction (EPC) in Trimble County, Kentucky.
Total has made a number of new appointments to its executive committee following the deployment of its One Total company project.