The politician who led a committee looking at the oil and gas industry said there will be a “revival” in the North Sea. MSP Murdo Fraser spoke after the findings of a report by the Scottish Government’s economic committee were made public.
The Scottish Secretary has called for a “reboot” of the relationship between the UK and Scottish governments after May’s Holyrood elections.
Amec Foster Wheeler today confirmed that Samir Brikho had stepped down as chief executive.
ConocoPhillips said up to 50 positions could go after the company offered voluntary redundancy to staff.
Scottish small business confidence has fallen to its lowest level in three years amid fears the oil industry crisis has filtered down to local suppliers, according to an industry body.
The UK Coastguard Agency must respond to concerns that safety of UK seafarers is being compromised by North Sea operators employing foreign workers from lightly regulated regimes in order to “exploit our natural resources”, a Holyrood committee has said.
Suncor Energy Norge’s North Sea wildcat turned up dry.
Brent oil traded near $28 a barrel as it extended declines after international sanctions on Iran were lifted, paving the way for increased exports from the OPEC producer amid a global glut.
With the oil price hovering at $30/bbl, it is unsurprising that some are claiming that the North Sea is dead, however they could not be further from the truth.
Shell boss Ben van Beurden is optimistic that shareholders will overwhelmingly back its mega-merger with rival BG Group as investors mull the final case put out by both oil giants later this week.
Energy travel specialist Munro’s has reported positive interest from UK companies keen to attend the world’s top oil show this year in Texas.
Saudi Oil Minister Ali al-Naimi said crude prices will rise and foresees that market forces and cooperation among producing nations will lead in time to renewed stability.
Premier Oil shares remained suspended yesterday amid uncertainty over the status of the firm’s latest North Sea investment. The stock was worth 19p per share before Wednesday’s request from London-based Premier to halt trading, due to its £83million-plus acquisition of assets from Germany’s E.ON.
Seadrill said had has reached an agreement with the DSME shipyard to defer the delivery of two ultra-deepwater drillships.
Oil major Chevron will soon mark a milestone in its preparations to start exports from its Gorgon LNG project in Australia. The company's $54billion project could soon be marking its first shipment after the company said an LNG cargo had arrived at its plant on Barrow Island.
BHP Billiton said it expects to be hit with an impairment charge of $4.9billion post-tax against the carrying value of its onshore US assets. The company said the charge will be recognised as an exceptional item in the financial results for the half year ended December 31, 2015.
More footage has emerged of incredible waves in the North Sea.
Prime Ministers Questions this week may have been one of the most frustrating sessions ever witnessed by myself and others with ties to the North Sea oil and gas industry. Even when questioned and criticised by MPs in his own party, the Prime Minister has shown a complete disdain and disrespect for an industry which has been politely and urgently asking for his help and the assistance of his government, in coalition or otherwise, for well over a year now.
As an industry we are going through a tough time – and all indications are pointing towards it staying that way. With the value of our product having plummeted to just over $30 a barrel and respected commentators suggesting it’s going to be lower for longer than we might hope, the fear is that it may get worse before it gets better as globally some $400 billion has been cut from E&P budgets.
Premier Oil’s shares today entered day two of being suspended on the London Stock Exchange.
Despite mounting challenges, Sir Ian Wood today called for the North Sea ‘not to panic’.
A group of oil workers has written to the UK Government claiming the Unite union allowed ineligible members to vote in the recent OCA ballot.
Oil’s collapse has delayed $380billion worth of investment on 68 major upstream projects, according to industry consultant Wood Mackenzie Ltd.
The slump in oil prices that’s brought upheaval and cost cutting to the traditional energy industry spared renewables such as solar and wind, which raked in a record $329.3 billion of investment last year.
Nicola Sturgeon failed to hold a single meeting with her energy jobs chief for more than six months last year – despite at least 800 offshore workers being made redundant in that period.