North Sea expertise helps mend London’s creaking sewage system
Subsea experts swapped the hazardous conditions of the North Sea for inner city London’s river network in a project highlighting the potential for oil and gas industry diversification.
Daily
Iran on oil freeze: ‘Leave us alone’ until output higher
Iran plans to boost crude output to 4 million barrels a day before it will consider joining other suppliers in seeking ways to rebalance the global oil market.
Xcite Energy races against financial fall-out clock
Xcite Energy is in a race against financial fall-out as it tries to avoid becoming the latest casualty amid the continued low oil price.
Conservatives ‘asleep at the North Sea wheel’, MSPs claim
Aberdeen MSPs criticised the “derisory” city region deal today (Sat) as they called on the UK Government to do more to support the north-east during the oil and gas downturn.
Oil surge shows falling output trumps record inventories
Oil futures traders have shifted attention to falling production from their earlier preoccupation with rising inventories. That switch may have helped put a floor under oil prices, as the outlook for non-OPEC supply deteriorates.
Budget 2016: Budget to close tax loophole which disguises employees as freelancers
A tax loophole widely exploited to disguise employees as freelancers will be reformed in George Osborne’s Budget next week.
Bank of England looks to keep interest rates on hold
The Bank of England looks set to keep interest rates on hold as fears over global growth and the threat of Britain leaving the European Union continue to loom large over the UK economy.
Petrofac wins $250million North Sea contract, secures 65 jobs
Petrofac has been appointed as duty holder to support North Sea incomers Anasuria Operating Company Limited in a deal worth $250million, securing 65 jobs.
BP avoids lawsuits over moratorium that followed Gulf spill
BP Plc won’t have to face lawsuits by energy and oilfield service companies over losses they blamed on the U.S. offshore drilling ban imposed after the 2010 Gulf of Mexico oil spill.
Oil heads for 4th weekly gain as US fuel demand strengthens
Oil headed for the longest run of weekly gains since May amid signs of rising U.S. fuel demand and easing crude production.
Stark contrast in pay outcomes for the bosses of Shell and Subsea 7
Shell boss Ben van Beurden took an 77% pay cut but his counterpart at Subsea 7 doubled his pay packet as crude prices tumbled and thousands of oil and gas workers lost their jobs during 2015.
AFW exec says North Sea is just like Heathrow
North Sea projects are backed up like planes waiting to land at Heathrow, according to Amec Foster Wheeler (AFW) senior executive John Pearson.
Easa orders safety work on North Sea Super Pumas
North Sea Super Puma helicopters must all be modified after the European Aviation Safety Agency (Easa) highlighted a potential hazard for emergency evacuations.
OPEC-Russia oil coalition struggles with its very first step
A month after promising co-operation that would re-balance global oil markets, the producer coalition forged by Saudi Arabia and Russia is having difficulty taking its first step.
Highland MP hits out over “shoddy” application for ship-to-ship oil transfers
A Highland MP has accused the UK Government of "shoddy" handling of the application for ship-to-ship oil transfers off the Cromarty coast. Ian Blackford wrote to Scottish Secretary David Mundell yesterday to express his concern that Marine Scotland (MS) had not been directly consulted.
Future of Norwegian oil and gas industry to be decided by those not “born yet”
Norway’s Prime Minister said workers who will decided the fate of the country’s oil industry had not even been “born yet” as it was revealed jobs would continue to be lost this year. Erna Solberg spoke at the annual conference of the Norwegian Oil Industry Association in Oslo.
French auditor raises concerns over Hinkley Point
France’s top audit body has said the financing scheme for EDF’s $25.6billion project to build two nuclear plants in the UK could be potentially risky.
Crane operations suspended on Murchison platform after “significant” damage
CNR International said all crane operations on the Murchison platform have been suspended after "significant" damage was caused to a crane yesterday.
Sturgeon and Davidson lock heads over oil predictions
Scottish Conservative leader Ruth Davidson accused the SNP under former first minister Alex Salmond of trying to “con” people over oil revenues during the referendum campaign.
South Korea shipyard Daewoo to shed another 12,000 jobs
A dipped offshore balance sheet has forced Daewoo Shipbuilding & Marine Engineering to shed 12,000 jobs.
Amec targets asset sales and revamps UK pension scheme as profits take a 19% hit
Amec’s profit for last year fell 19% to £374million, the company confirmed today.
Oil and gas industry goes from pioneer to “Luddite” in 40 years
Oil and gas businesses have gone from being technology pioneers to risk-averse Luddites, an industry chief said yesterday. Colette Cohen, a vice-president at Centrica, said aerospace was the only industry on the same level as oil and gas 40 years ago. The sector has a proud history of innovation, but the biggest breakthroughs have tended to come when oil prices were low.
Norway wealth fund keeps buying as struggling petro-states sell
Norway will remain a bulwark against global stock declines as its sovereign wealth fund, the world’s biggest, proves to be an odd-ball among oil-built investment vehicles.
Chevron and Cairn’s shares in double boost
Cairn Energy Plc gained the most in 16 months after the explorer reported positive results from an oil well off Senegal, potentially opening up commercial development for the area.
Shell chief executive says firm is prepared to cut even further
Ben van Beurden said Shell was prepared to cut even further if the markets dictated a need.