Oil companies must consider the effects of the oil downturn on the health and wellbeing of their workforce and work to support people through the most challenging period in a generation, a leading psychologist has warned.
The last couple of years have been challenging for the oil and gas industry, and whilst we all hope the oil price situation will improve, it is clear that times are changing in the North Sea.
From an explosive start to Johan Sverdrup to the delay of its major Mariner development, click through to see Statoil’s year in review.
Japanese stocks fell, reversing gains as a strengthening yen weighed on the profit outlook for exporters. Energy shares climbed as oil advanced for a fourth day. The Topix index lost 0.7 percent to 1,523.62 at the close in Tokyo after rising as much as 0.9 percent as the yen added 0.3 percent to 120.57 per dollar. The Nikkei 225 Stock Average dropped 0.5 percent to 18,789.69.
North Sea oil and gas firms may be left with a gap in their insurance cover because of legal changes being introduced next year, law firm HBJ Gateley has warned. Requirements being brought into law by the Insurance Act 2015 mean businesses will have to give a breakdown of any risks to make sure they have enough insurance cover for operations, it added. A gap could be created if these risks are not adequately identified, leaving the insured party without proper cover, it said.
2015 has been a difficult year for the UK oil and gas industry. After 50 years of exploration and production, the UK Continental Shelf (UKCS) is at a crossroads. While recent record investment and efficiency improvements are yielding the first rise in oil and gas production for over 15 years, our future is less certain.
The Society of Petroleum Engineers (SPE) Offshore Achievement Awards will be presented at Aberdeen Exhibition and Conference Centre on Thursday March 17. SPE Aberdeen branch director Ian Phillips looks forward to another chance for the oil and gas industry to shine.
Offshore Contractors’ Association (OCA) chief executive Bill Murray plans to step down from the post after more than 13 years, it emerged yesterday. An OCA spokeswoman confirmed he would retire from the role sometime in the new year, but gave no more details. OCA is the leading representative body for the UK’s oil and gas contracting and supply industry.
I have worked in the oil and gas industry for the majority of the 40 years it has been in Aberdeen, and experience tells me that it is not the absolute price that causes stress to the sector, but sudden changes in it.
The British supermajor signalled its commitment to the North Sea this year when it announced its $1billion ETAP investment.
Energy Voice launched Energy 2050 – Securing our Future - at the Offshore Technology Conference in Houston in May.
Premier Oil today confirmed first oil from its Solan field had been pushed back until next month.
Energy Voice sits down with Energy Job Taskforce champions to get to the heart of the issue.
Lundin has converted its North Sea wildcat into an appraisal well.
As an industry we are realising that the oil price may continue to drop to a level previously thought unthinkable, $20 to $40 per barrel. Regardless of whether or not these prices are seen in 2016, we do have to accept that a sustained low price is here to stay for a lot longer than we thought last summer. This is our ‘new normal’, where oil price determines the cash flow of the industry. Low oil price plus high cost equals a lot less cash, and a lot more pressure from the shareholders.
Cosco Corp. Singapore Ltd., the shipbuilding arm of China Ocean Shipping Group, is exploring options to support its business as a slump in commodities trading and oil prices leads to sluggish demand for new vessels.
An offshore union has branded the fine imposed on Total yesterday a "wholly inadequate slap on the wrist".
Stocks rose on Wall Street for a second day, helped by crude oil prices stabilising, but Chipotle Mexican Grill fell on more worries about the safety of its food.
Aberdeen firm RS Occupational Health (RSOH) has smashed its own job creation expectations at a fledgling remote care medical centre in the city.
Who would be an economist?
The year 2015 has been an annus horribilis for all stakeholders in the UK Continental Shelf (UKCS).
Independent Oil and Gas (IOG) converted its bid for the North Sea's Skipper licence to 100% ownership.
This holiday season the industry will rely on its workforce offshore, who are away from friends and family, to sustain the sector.
Fuel poverty campaigners have warned annual electricity bills could soar by more than £200 in the north of Scotland because of the spiralling cost of new undersea cables.
Falling oil prices took a large bite out of profits and turnover at Global Energy Group during the year to March 31, the energy service firm said yesterday.