The decline in the North Sea tax base raises further questions over the £1.2bn per annum uplift in windfall tax revenues which the government has ear marked to fund GB Energy.
Petrofac (LON: PFC) has extended its existing forbearance agreement on a missed interest payment with a group of lenders from 20 September to 18 October 2024.
The mystery buyer behind a potential bid for the Grangemouth refinery has been revealed as Canadian businessman Garth Reid, according to media reports.
By Kathleen Gammack, Westwood Global Energy Group senior rig market analyst
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The North Sea semisubmersible (semisub) market hit 100% utilisation at the height of summer this year, however the reality is that shrinking supply has accentuated this, rather than soaring demand.
John Swinney has said that Scotland has “big ambitions” on climate change after the country was chosen for the third time to help lead a global climate action network.
Aberdeen Renewable Energy Group (AREG) has appointed two new directors, Allan MacAskill and Andrew Wilson, to its board. The appointments represent more than 60 years of combined energy sector experience for AREG, whose mission is to champion the Northeast's renewable energy sector.
Scotland will seek to maximise the opportunities from energy policies pursued by Westminster, First Minister John Swinney vowed as he met key UK Government figures in the sector.
Plans to open a vast area of the Arctic seabed to mining will cause “irreversible harm” to unique and vulnerable wildlife and habitats, Greenpeace International has warned.
John Kerry, the Biden administration’s former top climate diplomat, said the oil and gas industry must prove carbon capture can play a meaningful role lowering emissions or face a quicker-than-expected transition away from fossil fuels.
Wind power services firm Boston Energy has announced its move to a new, 3,300 sq ft head office located at the Hesslewood Office Park in East Yorkshire – and a rebrand with new logo.
Offshore wind services firm Beam, recently formed from the merger of marine robotic technology companies Rovco and Vaarst, has announced an investment of £15m in three marine vehicles aimed at boosting its surveillance capabilities.
Electrifying upstream oil and gas assets to run on renewables or natural gas that would otherwise be flared could cut associated emissions by more than 80%, according to Rystad Energy.
A planned purchase by Prax Group of Shell’s 37.5% stake in the Schwedt refinery in Germany is being delayed by “pending lawsuits by third parties,” according to a report from Reuters.
UK gas-fired power plants are running at their lowest hours of operation since 2017 owing to high levels of wind, solar and imports from Norway and France into the national grid.
Scottish offshore mooring firm First Marine Solutions (FMS) has extended its partnership with Montrose Port Authority with a five-year lease agreement.
Jersey chief executive Andrew Benitz said the firm's achievements have been marred by "fiscal and political turmoil" which has forced them to take measures including a 50% cut in staff and director salaries.