In case you missed them, Energy Voice’s top stories with SengS
Each week, Energy Voice pulls together the top stories from the week.
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Former BP boss leads New Years Honours list for energy sector
A former boss at oil major BP has been commended for his services to the energy industry in the Queen's New Year's Honours List. John Baxter, formerly group head of engineering, will receive an OBE (Order of the British Empire) for his services to engineering. education and the energy sector.
Oil and gas M&A activity to remain subdued until late next year
Mergers and acquisitions (M&A) activity in the oil and gas sector is likely to remain subdued until the end of next year at the earliest, a corporate financier has said. But Graham Cunning of accountancy firm Campbell Dallas, which has advised on 15 deals worth a total of more than £100million this year, said there are still plenty of takeover opportunities for the industry’s market leaders.
Shell wins final approval for Corrib gas pipeline from Irish Government
Oil major Shell has been given final approval by the Irish Government to operate the Corrib gas pipeline and terminal, according to reports.
Video: Crew of Brent Delta take on Elton John for Christmas
The crew of the Brent Delta have joined up once again for a sing-a-long on the North Sea platform. Offshore workers marked Christmas on the platform with their very own version of Elton John’s Step Into Christmas. Earlier this year the crew took on Oasis. Watch the video in full below.
Scotland’s solar power capacity rose by over a quarter in 2015
Scotland’s solar power capacity went up by more than a quarter over the past year, new figures show. WWF Scotland and the Solar Trade Association, which jointly published the statistics, welcomed the expansion, and called for the Scottish Government to encourage even greater uptake of the technology.
Opinion: The marriage of business – 2015 gives way to 2016
For better or worse every successful business leader has made decisions based on gut instinct. Most company founders in the North East of Scotland have an anecdote about the time it went sour. At business functions, we've all heard leaders express their pride at turning around a seemingly lost cause.
Oil retreats toward $37 as Hong Kong China stocks fall with Yuan
Oil fell, giving up some of a rally Tuesday that helped push U.S. stocks toward a gain for 2015. Chinese shares in Hong Kong fell as the offshore yuan touched an almost five-year low, while the US dollar extended its advance. West Texas Intermediate crude dropped 1.9 percent, holding above $37 a barrel. Standard & Poor’s 500 Index futures fluctuated after the US benchmark halted a two-day slide. The Hang Seng China Enterprises Index fell for a third day, widening a divergence with mainland equities.
Noble Group ends a turbulent year with cut to junk from Moody’s
Asia’s top commodity trader exits 2015 in very different shape to how it began the year. Noble Group Ltd. has lost almost two-thirds of its value, with its stock trading near the lowest since 2008, after a year of attacks on its finances by critics including the anonymous Iceberg Research and short-seller Muddy Waters LLC. The latest blow, amid a rout in raw materials, is the cut in its credit rating to junk by Moody’s Investors Service on concerns over its liquidity.
Secret files reveal Thatcher agreed to major review of energy during 1980s oil downturn
Margaret Thatcher agreed to a major review of energy policy at the height of the 1980s oil downturn after being warned of "daunting uncertainties" in the field, previously secret records reveal. Number 10 adviser John Wybrew told the then prime minister the review should consider how much government support should be provided to see the industry through the collapse. In a memo from July 1986, released by the National Archives today, he argues any attempt to formulate a "definitive master plan" would do "more harm than good".
Brae Alpha platform remains shut down after gas line rupture
A north Sea platform remained shut down last night after a gas line ruptured on board the Brae Alpha. US oil and gas giant Marathon said it was conducting a “comprehensive investigation” into the incident which happened on Boxing Day. The firm said 73 workers remain on board the platform which is which is about 155 miles north east of Aberdeen after initial plans to evacuate were called off.
Iran adding to global oil glut dims hopes for recovery next year
Investors are losing faith in an oil-price recovery next year as Iran prepares to add more crude to a global glut.
Sense of trepidation as oil and gas industry looks ahead to 2016
At the start of the year there was a growing sense of trepidation as to what the next 12 months may hold for the sector due to an acceleration of the downward trajectory of the oil price in the second half of 2014.
Dounreay ships 11 tonnes of nuclear waste to Cumbria
The company responsible for decommissioning the former nuclear plant at Dounreay has confirmed it has shipped 11 tonnes of radioactive material to Cumbria in its most recent financial year.
Tech Tuesday: Plexus plans for Python deployment in 2016
Aberdeen based engineering firm Plexus created a stir in the wellhead industry this year with the launch of its mould-breaking Python technology, but it was always 2016 that the company anticipated it deploying in earnest.
EV Insights: Energy Voice’s top videos of 2015
Take a look back at some of Energy Voice’s most watched videos from the past year.
Opinion: The lessons of 2015 to take into 2016
Looking back at 2015, it was not a good year for the oil and gas industry. The political uncertainty surrounding the price of oil and how long it will be depressed has contributed to a lack of activity and has been the major preoccupation for most companies. In particular many businesses agonised over how far to re-align their cost base or reduce their capital spend. If they go too far, in terms of staff reductions, then when the industry recovers some are concerned as to whether or not the skills base will return.
EV Insights: 2015- Editor’s pick of top stories
This has been a year of headlines for oil and gas. From job losses to new projects, Energy Voice has provided up to the minute coverage. Here is the editor’s picks of some of this year’s top stories.
EV Insights: The industry’s ‘new normal’
You couldn’t have made it through 2015 without hearing the phrases ‘new normal’ or ‘lower for longer’. Energy Voice takes a look back at industry’s sentiment.
Video: Russian military claims 2,000 oil tankers have been destroyed since launching bombing campaign
Russia has released dramatic images of ISIS targets being destroyed by its air force in Syria. Footage and images were released by the Russian Ministry of Defence which showed positions, including tanker trucks, being targeted.
EV Insights: A year worth of Journeys
We've had some fantastic names sit down for our platform, The Journey. From Bob Keiller to Jimmy Milne, these industry leaders discussed how they got to the top, the obstacles they overcame and the helping hands they had along the way.
Shale’s running out of survival tricks as OPEC ramps up pressure
In 2015, the fracking outfits that dot America’s oil-rich plains threw everything they had at $50-a- barrel crude. To cope with the 50 percent price plunge, they laid off thousands of roughnecks, focused their rigs on the biggest gushers only and used cutting-edge technology to squeeze all the oil they could out of every well. Those efforts, to the surprise of many observers, largely succeeded. As of this month, U.S. oil output remained within 4 percent of a 43-year high.
Oil falls from three-week high as Iran says exports ‘priority’
Oil in New York slid from the highest in three weeks and snapped the longest run of gains since April as Iran repeated its goal of boosting exports after sanctions on the country are lifted. Futures lost as much as 1.1 percent, falling the first time in five days. Iran’s priority is to boost crude shipments to pre-sanction levels, state-backed IRNA reported, citing Oil Minister Bijan Namdar Zanganeh. The Persian Gulf nation plans to add 500,000 barrels a day of exports within a week after sanctions are removed, said Rokneddin Javadi, head of National Iranian Oil Co., according to Shana news agency.
Jake Molloy: That was the year….I left the industry
In years to come thousands of former oil and gas workers will look back to 2015 and say; that was the year...... and most likely finish the line with; I left the industry! There will be variations on the theme; I was made redundant; or I started a new career; I got sacked or hounded out, or perhaps, I retired from the industry.
Opinion: More must be done to galvanise the North Sea oil and gas industry
There is a temptation as I write this to suggest some ‘New Year’s Resolutions’ for the UK Government and their approach to the energy industry next year, but I wouldn’t want to add to their list of promises they don’t intend on keeping.