Enterprise Engineering Services calls in administrators
Administrators have been appointed for Enterprise Engineering Services limited (EESL) in Aberdeen at the request of the company's directors.
Daily
North Sea oil balance sheet in red for first time
The UK Government has incurred a loss from oil and gas production for the first time in history.
Argentina aims to boost domestic oil output by 2025
Argentina aims to eliminate its need for crude imports while usincreasing domestic oil output to 653,000 barrels per day (bpd) in 2025, a 23 percent increase from 2015, an official from the Energy Ministry said.
Trump promises to revive US oil and gas industry if elected
Republican Presidential presumptive nominee Donald Trump has told thousands of delegates at a petroleum conference in North Dakota he will revive the US oil and coal industries and bolster national security if elected.
Songa Offshore to cut up to 200 jobs by 2017
Songa Offshore said it plans to make up to 200 redundancies as it looks to streamline its costs.
AGL eyes power storage in 1,000 homes to tap solar surge
AGL Energy Ltd. plans to announce a program within a few months to roll out about 1,000 power-storage systems for Australian homes with rooftop solar panels amid forecasts that falling prices will stimulate demand.
Oil’s brief $50 breach doesn’t mean much unless it sticks around
For the oil industry, $50 a barrel is a nice start. The big question is what comes next.
Saudi Aramco boosts oil output to record in fight for market
Saudi Arabian Oil Co., the world’s largest crude exporter, increased production to an all-time high last year while keeping its reserves unchanged as the kingdom battles for market share.
Production resumes from Brae Alpha after boxing day gas leak
Production from a North Sea platform has resumed after it was shut down on Boxing Day.
Amec Foster Wheeler in consultation with staff over job cuts
Engineering services group Amec Foster Wheeler has entered into consultation with employees in its Great Yarmouth offshore services facility with up to 100 jobs potentially at risk.
$50 crude not the cue for North Sea revivial, Prof Kemp says
The return of plus $50 crude after a seven month absence will not be enough to spark a wave of new North Sea development wells, a top oil industry economist said yesterday. Benchmark Brent crude rose 1% to $50.22 at one point yesterday, its highest level since early November. The price has rallied from a 13-year-low of about $28, which was reached in January, but is still well below the summer 2014 high of more than $110.
More North Sea firms borrowing against their assets
Asset-rich North Sea businesses are turning to alternative methods of funding their ongoing operations as their market continues to prove challenging, according to lawyers at HBJ Gateley.
Opinion: Treasury figures no surprise to North Sea workers
News that the UK Government has incurred a loss from North Sea oil and gas production for the first time since records began is clearly very concerning.
Shell jobs: Move means “lower forever”
Paul Goodfellow, Shell’s Vice President for UK & Ireland, has said that despite the “tough message” he had to deliver yesterday to staff in Aberdeen, he saw green shoots of sustainable change emerging in the North Sea.
Brent trades above $50 for 1st time in 6 months as supplies drop
Brent crude rose above $50 a barrel for the first time in more than six months as a drop in U.S. stockpiles accelerated a rebound from a 12-year low after global disruptions trimmed the market’s glut.
Struggling Atlantic Petroleum to exit from North Sea
A Faroese oil and gas explorer which has struggled under the weight of low oil prices plans to offload its entire UK North Sea portfolio. Atlantic Petroleum chief executive Ben Arabo said yesterday that while the basin is “not dead”, the company sees better opportunities further afield. Mr Arabo said the firm would switch its attention to projects in Eastern Europe and Eurasia, adding that a newly-agreed loan facility would keep the business afloat.
$50, so what?
Brent hitting $50 is nothing more than a "mental benchmark", according to an industry leader.
Seadrill posts record uptime as it battles $3billion debt
Seadrill today said it achieved "record operational uptime" in the first quarter of the year.
Scottish Secretary David Mundell heads to Texas to drum up North Sea investment
Scottish Secretary David Mundell will travel to the US oil and gas capital next week to promote the expertise of the North Sea.
Technip wins Saudi Arabia deal
Technip has landed an engineering deal in Saudi Arabia with CTCI.
Decom Offshore 2016: Shell’s Brent Delta decom unaffected by delay of giant lifting vessel
A senior executive from Shell's multi billion dollar Brent field decommissioning team said the delay in deploying the enormous would not add to the cost of the project, despite putting put back a year.
Decom Offshore 2016: Sell out conference suggests change in approach to sector
The chief executive of Decom North Sea said the Decom 2016 conference had seen the sector turn a corner.
Pre-OPEC meeting said to have no discussion of oil-output limits
The final preparatory gathering of officials from the Organization of Petroleum Exporting Countries before the ministerial meeting on June 2 didn’t discuss any limits on crude output, the latest signal that the group will stick to its current strategy of letting low prices eradicate a supply glut.
Renew News: Shell risks dividend payments with quick switch to renewables
Oil major Shell cannot switch too quickly to producing renewable energy without risking its dividend payments according to its chief executive.
Chevron, Shell said among bidders to operate Qatar oil field
Chevron Corp., Royal Dutch Shell Plc, Total SA, ConocoPhillips and Maersk Oil Qatar submitted bids to operate Qatar’s biggest offshore oil field, according to two people with knowledge of the matter.