Falkland Oil and Gas (FOGL) said it has encountered the possible presence of hydrocarbon at its Humpback exploration well. The company said the well has been drilled to 4,718metres and intermediate wireline logs have indicated hydrocarbon bearing sandstones within the main target horizon. The well is now being depended to evaluate additional targets.
A senior executive of fracking company Ineos has said he is “not too concerned” about a motion at the SNP conference that could result in a further clampdown on the controversial practice. Party members meeting in Aberdeen will today be asked to back a move that would place tighter restrictions on the party’s moratorium on shale gas extraction. The Scottish Government has already halted any fracking until 2017.
Energy Secretary Amber Rudd has rejected claims the renewables sector is under attack from the UK Government. The Conservatives have been criticised by the industry for the early closure of the Renewables Obligation (RO) subsidy amid warnings it will deter investment and risk thousands of jobs. Concerns have also been raised that ending the scheme from April – a year earlier than expected – will increase carbon emissions significantly.
Three months ago, the head of Schlumberger Ltd. thought the industry had seen the worst of the US oil rout. Now he’s not so sure. Chief Executive Officer Paal Kibsgaard said in July that a recovery might begin by the end of the year. That’s been delayed, Kibsgaard’s said in a statement Thursday as Schlumberger reported a 49 percent drop in third-quarter profit. The market is "increasingly challenging with activity expected to be reduced further," Kibsgaard said.
The Scottish Government has been challenged to tackle the "worst industrial crisis" in the country's history - and help the offshore industry plan for a brighter future.
A company formed to commercialise technology that promised to make remote gas finds more economic to exploit has gone into administration.
Statoil has awarded the NOK600million ($74.5million) contract for construction of the converter station at Haugsneset to the field to Norwegian firm Aibel.
The safe money for oil traders is betting that Venezuela's plan to resurrect OPEC's old price band mechanism, attempting to set a $70 floor for the battered market, will be doomed from the start.
A North Sea-focused energy company saw its shares skyrocket yesterday after revealing its debt to a specialist lender had been wiped out. AIM-listed Independent Oil and Gas (IOG) owed Darwin Strategic £245,780, but the lender has agreed to convert the outstanding debt into 6.5million shares at a price of 3.7p each. The new shares are expected to be admitted to trading on the AIM market on Monday.
A group of Aberdeen pupils have learned about the wide range of career opportunities in the oil and gas industry following a visit to EnQuest’s city centre offices.
The Government is calling for the release of a British pensioner described by his family as “one of the oldest and loneliest prisoners in Iran”.
As China closes in on the United States as the world's biggest crude oil importer, demand from private refiners and stockpiling of cheap oil is expected to keep imports at record levels after a wobble in the third quarter.
Sir Ian Wood’s analysis in 2012 that the North Sea industry was not viable when Brent crude was $114 a barrel and that drastic action had to be taken to save the industry is a sobering thought.
More than $200 billion worth of oil and natural gas assets are for sale globally as companies come under renewed financial pressure from the prolonged commodity price rout, according to IHS Inc.
Canadian energy companies have cut thousands of jobs and scrapped projects in a drive to cut costs. Now they’re raiding workers’ perks.
More than 75,000 people have signed a petition urging the release of a British grandfather who reportedly faces 350 lashes after breaking the law in Saudi Arabia when he was caught with home-made wine.
Subsea engineering and training company Jee said yesterday it had won a contract extension with BP to provide the oil major with a range of maintenance and inspection services in the North Sea. Jee, which has offices at Tonbridge in Kent, London and Westhill, near Aberdeen, has worked with BP for more than two decades in locations including, Angola, Azerbaijan, Norway, Trinidad and the UK.
A restructuring of Repsol's Alaska drilling project is adding to the state’s woes in the midst of the biggest oil slump since 2009.
Preliminary production figures for North Sea oil production in Norway for September 2015 showed a slight dip from the previous month before.
Primeline Energy has agreed with China National Offshore Oil Corp to extend the exploration period under the Petroleum Contract for Block 33/07 to facilitate Primeline's exploration drilling programme.
Oil and gas training organisation Opito yesterday cautioned the industry against using low oil prices as an excuse for cutting corners of safety training. Opito’s chief executive, David Doig, issued the warning as the training body revealed the line-up for its sixth annual safety exhibition. The Opito Safety and Competence Conference (OSCC) will feature presentations from the likes of Shell’s deputy head of safety, Tony Paul and Kevin Myers of the Health and Safety Executive.
Offshore drilling contractor Transocean has refused to confirm it held a meeting with staff at its Aberdeen premises concerning potential reduction in headcount.
Repsol's latest wildcat well in the Norwegian North Sea has come up dry.
Oil halted its decline after falling the most in six weeks as signs of rising demand in China countered an increase in OPEC production.
BAFTA-nominated geologist and TV presenter Iain Stewart will deliver the keynote speech at this year’s Offshore Decommissioning Conference, organisers said yesterday. The two-day event, which has already sold out, will focus on the importance of ensuring decommissioning is as efficient as possible and will draw from the lessons learned by other sectors, including nuclear energy.