ConocoPhillips joined the ranks of oil explorers curtailing dividend payouts after suffering its steepest quarterly loss in almost a decade. Rival drillers Occidental Petroleum Corp. and Statoil ASA are holding fast for now.
Texas has a message for $30 crude doomsayers: Bring it on.
A north-east well technology company has sold 150 of its perforating guns in North America last month, scooping up more than £173,000 in the process. Delphian Ballistics said it has a hefty order book for its TriStim guns, which are built to order, and is projecting sales worth £2million in 12 months. The firm, founded in 2013, claims its perforating gun can “unlock efficiencies” and increase well flow performance by 50%.
The next generation of subsea engineers are being encouraged to come up with new ideas for underwater equipment for industry.
A sonar company has been able to bring its technology closer to market with the backing of Heriot Watt University.
Enpro Subsea has bucked the trend growing from a small company of just five employees to 30 staff in just three years.
Safety training firm Falck is working together with Airbus Helicopters to help heighten safety in North Sea helicopter operations.
Saudi Arabia, the world’s largest crude exporter, cut pricing for March sales of its light crude oil grades to Asia, according to a person familiar with the decision.
Occidental posted its worst quarterly loss in 25 years.
A shipping security expert says the crew of an oil tanker hijacked in Nigerian waters is from Russia, Georgia and the Philippines and that they are probably being held hostage for ransom.
North Sea oil production could end within years, with the loss of thousands of jobs, unless emergency measures are taken to boost the industry, it is being warned.
Oil and gas operator EnQuest is axeing 45 roles, including directly employed staff and contractors, in Aberdeen.
Scottish research and development company PhotoSynergy Ltd (PSL) has won work with a North Sea operator for the first time, using its Lightpath technology in diving operations.
Integrity specialist Hydratight has launched a new subsea riser inspection tool at Subsea Expo.
Bad vibes were outlawed on N-Sea’s stand at Subsea Expo yesterday. Roddy James, the energy service firm’s chief operating officer, came up with the idea of having a “swear box” as a tongue-in-cheek remedy to the air of negativity in the north-east. Mr James said: “We talked about it earlier doors and decided if anyone comes onto the stand and is negative we’re going to make them pay into the fine box, hoping by the end of the day it won’t be full.”
Weatherford International Plc plans to lay off an additional 6,000 workers, about 15 percent of its workforce, over the first half of this year to cope with the worst crude market downturn in 30 years.
In final weeks of its BG merger, Shell revealed a massive slide in its earnings.
Aker Solutions was celebrated as the best subsea firm of the year at a prestigious industry event in Aberdeen last night.
Total has agreed to a 10 year LNG deal with ENN.
Brazil will remain an attractive location for the UK’s subsea sector despite the Zika virus outbreak and the Petrobras corruption scandal, an independent consultant from the South American country said yesterday. Daniella Carneiro was speaking on the sidelines of Subsea Expo in Aberdeen, where a new initiative was launched to improve links between UK and Brazilian subsea firms. Ms Carneiro, a London-based director of Chartham Consulting, said UK Trade and Investment and the Brazilian Science and Technology Ministry had produced a catalogue which lays out information about subsea firms from both countries.
Statoil ASA, Norway’s biggest oil company, deepened investment cuts and offered to pay dividends in stock as a collapse in crude prices eroded earnings.
Unlocking untapped oil reserves in small pools in the UK North Sea could land as a $20 billion prize for the oil and gas industry according to a senior executive.
The UK oil and gas industry should learn from the car industry how to reinvent itself as a world-class technological leader, a company boss has urged.
Data from the HSE (Health and Safety Executive) has shown more than a third of piping and pipeline failures are caused by vibration, erosion and corrosion.
Subsea Expo got off to a flying start with a busy exhibition and a packed-out auditorium for the conference plenary session.