Gallery: Forties at 40
Energy Voice looks back through the archives to chart the evolution of the Forties Field, which began pumping oil 40 years ago.
Daily
Forties at 40: Changing the world? I was more interested in having a day off!
When young petroleum engineer Frank Musgrave stepped on board BP's brand new Forties Alpha platform in the late summer of 1975, he was entirely focused on his role in getting the oil flowing, not on playing a part in a key period of British history.
Total’s Philippe Guys: My open letter to the industry
In the final installment of our three part series, Total's departing UK managing director pens a final farewell.
BG Group profits drop by 63%, remains positive about Shell merger
BG Group has posted its third quarter results and said it remains on track for its takeover by oil major Shell to be completed early next year. The company reported a third-quarter decline in profit of 63% as it feels the force of the oil price decline. Net income fell to $280million form $759million a year previously. Meanwhile BG said its exploration and production was up 26% while full year guidance has increased to between 680-700kboed.
Afren administrators sell African artwork for more than £300,000
Administrators of UK oil explorer Afren have raised more than £300,000 from the sale of African artwork owned by the company. The array of Nigerian artwork was put up for auction at Bonhams after the company began experiencing trouble earlier this year. Two months ago the Financial Conduct Authority (FCA) said it had cancelled trading shares from the company on the London Stock Exchange.
Shell leads $19 billion of gas, oil writedowns in just one week
More than $19 billion in oil and gas writedowns have been reported in a single week as producers acknowledge what investors already knew. Royal Dutch Shell Plc leads the pack in recognizing that drilling prospects are worth a lot less than they used to. The producer announced its worst loss in 16 years on Thursday, including $8.2 billion in impairments. Southwestern Energy Co., Whiting Petroleum Corp. and Anadarko Petroleum Corp. have likewise written off acreage value. For investors, those charges aren’t much of a surprise after oil tumbled 44 percent in the past year, dragging stock prices along with it. Shell has declined 15 percent in the past 12 months, Whiting is down 73 percent and Anadarko fell 26 percent.
Opinion: We have renowned scientists in the UK but can you name a female scientist?
The United Kingdom is home to some of the most renowned scientists in the world. Yet if you asked many people they might find it difficult to name anyone apart from Stephen Hawking. Ask them to name a female scientist and I think they would struggle but we have some exceptional scientists in Dame Athene Donald, Dame Jocelyn Bell Burnell and Dame Carol Richardson amongst others. Encouragingly, more women than ever before are working in science, technology and engineering occupations, according to official data. The Labour Force Survey reveals that nearly 800,000 women work in Science, Technology, Engineering, and Mathematic occupations, 104,000 more than in 2014.
Brazil will drive global growth in FPSO industry to 2019 despite corruption probes
Brazil will lead global growth in the Floating Production, Storage and Offloading vessel (FPSO) industry despite the country’s national oil company, Petrobras, recently facing allegations of corruption, according to research and consulting firm GlobalData.
Bristow completes first wave of job losses, second round expected in New Year
North Sea helicopter operator Bristow has completed its first wave of headcount reductions as it looks to streamline costs. The company announced in July it would be cutting up to 130 positions – including 66 pilots – in jobs across the UK. Earlier this month, CHC said it had let 18 members of staff go amid a challenging market place with the global decline in oil price.
EV Insights: In case you missed them, Energy Voice’s Friday Five
Each week Energy Voice pulls together the Friday Five. Click below to see the site’s most read and engaged with copy of the week.
Exclusive: $50 to last decade, says Total boss
Oil hovering around the $50 mark could last ten to fifteen years, according to industry veteran Philippe Guys.
Shell suffers major financial hit
Industry giant Shell suffered a major financial hit after it recorded a $6.1billion loss in its third quarter earnings report.
Technip posts strong third quarter
Technip posted an increase in revenue and a strong order backlog for its third quarter results.
How one lone oil rig embodies the Brazil boom that never was
Oil majors had big plans for Brazil, but you can’t tell by looking at the country’s offshore drilling these days.
Three things to watch as oil companies count costs of the bust
More than a year into the worst oil bust in a generation, companies keep tallying the carnage. Most of the industry’s third-quarter results will be reported over the next two weeks. Here are three numbers to watch:
Offshore worker snaps incredible images of Birds of Prey in North Sea
An offshore worker has captured incredible images of wildlife in the North Sea.
Smiths Group snaps up XPD8
Global industrial giant Smiths Group has snapped up an Aberdeen-based energy consultancy. XPD8, founded in 2003, will become part of John Crane, the largest operating division of the FTSE-100 listed parent company. The deal marks an exit for XPD8’s private equity backer Maven Capital Partners and the firm’s founder, Mark Cavanagh.
EXCLUSIVE: Total boss steps down after 36-year career
Total’s UK managing director Philippe Guys has bid farewell to the North Sea after a 36 year career.
Statoil delays Mariner start, ‘chases’ cost savings
Statoil’s chief executive Eldar Saetre today confirmed the start-up of the Mariner field would be pushed back a year.
EnQuest strikes first oil in North Sea find
EnQuest has confirmed it has produced first oil from its Alma Galia development.
It sounds crazy. OiI is safer than Treasuries for this investor
Oil is a better bet than Treasuries as the Federal Reserve contemplates raising interest rates, according to Park Sungjin, an investor in Seoul.
UK ‘worst in Europe’ on fuel poverty indicators
The UK performs the worst overall of 16 European countries on housing and fuel poverty indicators, according to a study.
BP cost cutting move is £5million blow to Islands
Shetland Islands Council faces a £5.5million chop to its budget next year after BP decided to ship oil to the lower-cost Port of Rotterdam rather than the Sullom Voe Terminal.
Shell shelves Alberta oil-sands project after leaving Arctic
Royal Dutch Shell Plc made its second major strategic change in as many months, saying it will take a $2 billion charge as it shelves an oil-sands project in Alberta after walking away from an Arctic drilling program.
EI chief says young oil workers should consider skills transfer to wider energy sector
Young people should consider how their skills transfer to the wider energy remit, according to the boss of industry body the Energy Institute.