For tanker owners, shrinking oil glut is least of their worries
Tanker owners hauling the world’s crude were among the few big winners from an oil-price crash that started in mid-2014. Now for the flip side.
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Sevan Marine staff agree to pay cut
Staff at Sevan Marine have agreed to a reduction in wages as the company looks to streamline costs.
Updated: Shell to cut an additional 2,200 jobs, 475 North Sea
Shell today confirmed it would cut an additional 2,200 global jobs.
Exclusive: Survivors of Sumburgh crash win seven figure pay out from CHC
Survivors of a North Sea helicopter crash which killed four people have received a seven figure pay-out in damages.
World better forget about $100 crude coming back, Norway says
The oil market is rebalancing, but don’t count on ever seeing prices at $100 a barrel again: that’s the message from Norway’s petroleum and energy minister.
Senior oil boss wins nearly £80k from Proserv after claiming unfair dismissal
A senior oil boss who claimed he had been unfairly dismissed has been awarded nearly £80,000 in compensation.
Technip lands Statoil deal
Technip has won an umbilical contract for Statoil's Oseberg Vestflanken 2 field offshore Norway.
Bristow recalls S-92 from Nigeria after North Sea shortfall
A Bristow helicopter has been returned from operations in Nigeria as the grounding of EC225's continues in the North Sea.
No panacea to North Sea exploration woes, says industry veteran Phil Kirk
There is no simple panacea for solving rock bottom levels of exploration in the North Sea, according to industry veteran Phil Kirk.
Oil extends gains near $50 as US crude stockpiles seen falling
Oil extended its advance to near $50 a barrel as weekly U.S. industry data showed crude stockpiles declined, easing a glut.
Decom Offshore 2016: New technology platform could help collaboration
Specialist decommissioning consultancy Strategic Decom has teamed with and business intelligence firm Animus to create a new technology platform - DecomIntelligence - to facilitate better collaboration in the decommissioning industry.
Opinion: Xcite needs time – and money – to weather financial storm
Shares in oil company Xcite Energy are under pressure after the announcement of first quarter results did little to allay fears surrounding its debt obligations that mature at the end of next month.
Decom Offshore 2016: Proserv tool hits the decom mark
With more than 250 subsea wells and over 500 platform wells to be decommissioned in the UKCS by 2022, all must be permanently abandoned by setting the required barriers (plugs), severing all casings and conductor 10ft below mudline.
Aquatic gears up modular carousel for Etap deployment
An Aberdeen firm which is getting ready to supply a groundbreaking piece of kit for one of the North Sea’s biggest projects is on track to return to growth this year, its boss said yesterday. Revenues at Aquatic Engineering and Construction were down by about a quarter last year as the firm, like most of its rivals, took a hit from the oil and gas downturn. But Aquatic’s early moves to restructure the business and a busy start to 2016 have boosted the company, which specialises in back deck reels.
Global exploration drilling down by nearly three-quarters on 2014
Global exploration drilling during 2016 is forecast to be down by 73% on the 2014 level, with discovered oil volumes hitting their lowest point this decade.
Opinion: Still a long way to go for the UK’s shale gas industry
Whilst this is undoubtedly a significant decision for the nascent shale gas industry, as many in the industry will appreciate, not least Third Energy, there is still a very long way to go before the UK is in a position to demonstrate a credible and sustainable scale of shale gas supply.
Survivor relived moments of 2013 flight after Norway helicopter crash
The offshore worker said he relived how it felt to “fall from the sky” when he heard 13 people had been killed in an accident offshore Norway.
Atlas Energy pays CEO $73million cash, becomes penny stock
Atlas Energy Group LLC, a developer of oil and gas assets, paid Chief Executive Officer Ed Cohen $73.2 million in cash prior to its collapse and suspension from trading on the New York Stock Exchange.
WES and Emec join forces to lessons from the past
Wave Energy Scotland (WES) and the European Marine Energy Centre (Emec) have teamed up for research which aims to capture the “wealth of knowledge and experience” gained from testing marine renewables devices around Orkney.
Oil downturn sends Sound Energy searching for onshore gas gains
Sound Energy said it had refocused its strategy onto onshore gas in the wake of oil's decline.
Granite City’s sparkle dims as foreign investment drops
Aberdeen is losing its appeal for foreign investors amid the oil and gas industry downturn, new figures have shown.
Faroe Petroleum begins drilling North Sea well
Faroe Petroleum has kick-started drilling on its latest North Sea well.
Saudi Arabia’s economic plan shows it’s just not that into OPEC
Saudi Arabia, one of the founders of OPEC, is sounding the group’s death knell.
Oil’s recovery under threat as tankers run in circles off China
In late February, the tanker Jag Lok loaded oil from Equatorial Guinea in western Africa and set sail for the Chinese port of Qingdao, the gateway to the world’s newest buyers of crude, a journey of more than 12,000 nautical miles.
Wood Group wins Statoil deal
Wood Group has landed master services agreement (MSA) with Statoil.