Coronavirus pandemic recovery must tackle climate crisis
The recovery from the coronavirus pandemic must put the world on track to a greener future, it has been urged, as online events mark Earth Day.
Coronavirus
US oil spirals below zero in ‘devastating day’ for global industry
The day started like any other gloomy Monday in the oil market’s worst crisis in a generation. It ended with prices falling below zero, thrusting markets into a parallel universe where traders were willing to pay $40 a barrel just to get somebody to take crude off their hands.
Swift financial protection needed to weather storm that could impact North Sea ‘for years to come’ – OGUK
Struggling North Sea firms need swift and long-lasting financial protection to weather an oil price and Covid-19 storm that has the potential to impact the industry “for years to come”.
Key workers: ‘Significantly reduced’ Shell team still landing UK’s gas at St Fergus
A “significantly reduced” Shell team is still managing to land gas at one of the UK’s major terminals in Aberdeenshire, despite the Covid-19 outbreak.
Will Covid-19 kill the oil industry?
As Coronavirus lockdowns continue to spread around the world, the oil industry faces more disruption to demand and supply chains, with many margins and prices already collapsing.
Halliburton falls to $1billion loss and ‘expects further decline’ due to Covid-19
Oilfield services giant Halliburton fell to a $1billion (£804.5m) net loss in the first quarter of the year, warning it “expects a further decline in revenue and profitability” as 2020 goes on.
Aberdeen energy conference five months away decides to ‘go virtual’
Aberdeen event organisers have offered little sign of normality resuming after deciding an event five months away should be held virtually.
ExxonMobil signs deal with Sonatrach
Sonatrach has signed a memorandum of understanding (MoU) with ExxonMobil, shortly after similar agreements were reached with Zarubezhneft and TPAO.
Total shuts down Mozambique LNG on outbreak
Total has shutdown work at Mozambique LNG in order to manage an outbreak of coronavirus at the site in Cabo Delgado.
Asia Pacific M&A shake-up on the horizon
More assets are expected to hit the market across Asia Pacific this year following the sustained drop in global oil prices and the COVID-19 pandemic, which has destroyed energy demand growth as economic activity contracts.
Moray East offshore wind project ‘on track’ despite Covid-19 delays, director claims
Delays to onshore work should not affect the schedule of Scotland’s largest planned offshore wind farm and will be “full steam ahead” after Covid-19 restrictions lift, according to the project boss.
Employment lawyers call out ‘grey areas’ of coronavirus furlough scheme for oil and gas
Employment lawyers have criticised a lack of clarity in the government’s coronavirus jobs retention scheme, highlighting it is unlikely to prevent “difficult decisions” for the oil and gas sector.
Singapore oil trader is said to have hidden $800million losses
The son of the legendary founder of Hin Leong said the Singapore oil trader hid about $800 million in losses racked up in futures trading, suggesting a much bigger hole in the company’s finances than thought, according to people with knowledge of the matter.
Sparrows furloughs hundreds of workers, axes others
A number of workers for an Aberdeen-headquartered oilfield equipment firm have been terminated following the company’s decision to furlough hundreds of staff.
US oil prices plunge to 21-year low, Brent more resilient
Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.
ExxonMobil employees arrested in coronavirus crackdown
Rivers State has arrested 22 ExxonMobil employees for violating quarantine by entering the area from Akwa Ibom.
Ledingham Chalmers: There is ‘real confusion’ on government’s coronavirus jobs scheme
Since the introduction of the job retention scheme on 20 March 2020 we have all had to rely on government guidance as to how the scheme will operate.
Equatorial Guinea to ease regulations
Equatorial Guinea intends to make its petroleum sector more attractive by modifying regulations.
Canada’s Keystone XL pipeline faces coronavirus delay
Construction work on Canada’s major Keystone XL pipeline looks poised to stall mere weeks after the controversial project was given the green light by TransCanada (TC) Energy.
Zenith extracts better terms on AAOG’s Tilapia
Zenith Energy has extracted better still terms from embattled Anglo African Oil & Gas (AAOG) on the sale of the Tilapia oilfield, in Congo Brazzaville.
Updated: ‘Disgrace’ as Worley sacks Sullom Voe Terminal workers without furlough
Worley has been branded a “disgrace” by union bosses after terminating workers without furlough at a Shetland oil and gas terminal.
Goodbye ‘Cluff Natural Resources’, hello ‘Deltic Energy’
A company named after one of the pioneers of North Sea oil and gas exploration is planning to change its name.
Power to the people: Workers keep turbines spinning at Scotland’s largest wind farm during ‘unprecedented times’
While the Covid-19 pandemic has ground most of society to a crushing halt, Scotland’s essential services, supermarkets and homes still require abundant electricity.
Looking after employee mental wellbeing
The North Sea offshore oil and gas industry isn’t immune from the effects of COVID-19, which are wide reaching and present significant challenges.
Sonatrach signs Zarubezhneft, TPAO deals
Sonatrach has signed early-stage agreements with Russia’s Zarubezhneft and Turkey’s TPAO.