European gas demand under pressure
The impact of coronavirus has not been felt as strongly by the gas industry as oil, Rystad Energy’s CEO Jarand Rystad has said, although increasing LNG production seems set to keep prices under pressure this year.
Coronavirus
Private equity firms slam ‘inaccessible and worthless’ Covid-19 loan schemes
Energy investment experts have branded the UK Government’s Covid-19 business loan schemes “virtually inaccessible” and “worthless” to oilfield service firms.
‘Hard to take’: ONS 2020 cancelled
A popular energy sector conference and exhibition in Stavanger, Norway, has been cancelled this year due to the Covid-19 outbreak.
Global Energy workers stage walk out after Covid-19 temperature checks ‘all over the place’
Workers at a Highland company Global Energy Group site staged a walkout yesterday after Covid-19 temperature checks resulted in incorrect readings.
Next generation’s enthusiasm is best hope for achieving energy transition
Oil prices have plunged to record lows this past week. While one particular benchmark, West Texas Intermediate, went below minus $40 per barrel a week ago, that is headline grabbing but not the primary concern.
Survey shows North Sea workers’ dismay at Covid-19 response
A new survey had laid bare the depths of the Covid-19 crisis afflicting the North Sea oil and gas industry, the RMT trade union said.
Life extension for Bruce, but end may ‘hasten’ for other North Sea fields
Cutting costs has added years to the life of Serica Energy’s Bruce platform, but other operators may need to "hasten" the end of some North Sea assets according to CEO Mitch Flegg.
Covid-19 response required a ‘complete one-eighty’ in operations, copter pilot says
The deadly Covid-19 outbreak has brought about a "complete one-eighty" for North Sea helicopter operators and changed the lives of pilots -- as well as their families.
Captaining a North Sea emergency vessel during Covid-19 lockdown
The work of emergency response and rescue vessels (ERRVs) is just as essential now as it was prior to the covid-19 outbreak, according to the captain of one such ship.
Facial snoods to be worn by North Sea workers as industry battles Covid-19 spread
Offshore workers will be supplied protective facial snoods before they fly out to North Sea installations as the industry continues its battle against the spread of Covid-19.
Supply chain threatened with collapse, Woodmac warns
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
Aberdeen MP accuses Treasury of ‘complete and continued silence’ on energy industry help
Pressure continues to build on the UK Treasury to inject cash into the north-east energy industry.
Covid-19 hit to tourism and North Sea industry may mean ‘larger negative shock in Scotland than UK’
The importance of tourism and North Sea oil and gas to Scotland’s economy could mean it is hit harder by the coronavirus crisis than the rest of the UK, a group of experts has warned.
Ad hoc oil workers ‘months away from losing everything’ after missing out on furlough scheme
A trio of offshore unions are in disagreement with Petrofac after workers were left without answers on being granted the government’s coronavirus furlough scheme.
UK North Sea platforms ‘face production shut-ins’ as oil storage fills up
Offshore platforms in the UK North Sea “face the risk of production shut-ins” due to oil storage constraints, according to leading analysts.
TechnipFMC records loss of £2.59bn in first quarter
Hefty impairments plunged TechnipFMC into the red in the first quarter of 2020 as the energy services firm felt the impact of the oil price slump and Covid-19 outbreak.
Offshore industry seeks clarity on social distancing measures on board North Sea oil rigs
The oil industry has called for “clarity” on social distancing guidelines on oil rigs following claims firms are confused about how workers should behave when offshore.
Updated: Baker Hughes posts £13bn loss as price rout, Covid-19 bite hard
Energy services firm Baker Hughes sank deep into the red during the first quarter as the oil price rout and Covid-19 pandemic took their toll.
North Sea’s post-Covid-19 future hinges on skills, top entrepreneur says
North Sea oil and gas entrepreneur James McCallum has said the industry’s post Covid-19 future hinges on skills.
Oil extends recovery from selloff but angst over glut remains
Oil extended its recovery from Monday’s plunge below zero but remained under intense pressure from a swelling global supply glut.
Norway decision on production cuts looms
Norway has said it will soon decide whether to cut its oil production to help support plummeting prices.
International benchmark Brent oil drops to 21-year low
Oil in London tumbled to the lowest in almost 21 years as the global benchmark was sucked into the rout that sent U.S. futures below zero for the first time ever this week.
North Sea can weather oil market storm, tax expert says
The UK North Sea offshore industry can weather a raging storm in global oil markets, a leading expert said yesterday.
Aberdeen’s global oil hub status could reduce as firms protect against Covid-19 restrictions
Aberdeen’s importance as a global oil hub may reduce as firms take steps to protect against multiple waves of Covid-19, according to an energy consultancy.
Wood to make almost 70 staff reductions across UK onshore business
Aberdeen-headquartered energy services firm Wood has confirmed that it plans to make almost 70 staff redundant across its UK onshore business.