North Sea can show ‘resilience’ amid 25-year low for oil demand, says academic
An Aberdeen energy expert has said the North Sea has an opportunity to demonstrate its “resilience” as global oil demand reaches a 25-year low.
Coronavirus
UK Government extends eligibility date for coronavirus furlough scheme to help ‘200,000’ workers
The UK Government has extended the cut-off date for workers to be eligible for its coronavirus jobs retention scheme, expected to benefit 200,000 people.
Archer crew made redundant as Apache scales back drilling operations
Drilling contractor Archer is understood to have laid off another 60 offshore workers following a client’s decision to cut activity levels.
North Sea protective gear providers shift focus to supply essential PPE to NHS staff
A number of companies more commonly known for supplying personal protective equipment (PPE) to the North Sea oil and gas sector have shifted their focus to provide much needed face masks, visors and respirators for key UK NHS staff fighting the Covid-19 outbreak.
Virtual virus health checks more critical than ever
The oil and gas industry has been battered by a perfect hurricane of the three Cs: coronavirus, climate concern and a collapse in crude prices. But a fourth big C, a perennial threat to the health of the sector, lurks in the background and could cause even greater damage than usual in today’s fraught operating environment.
Oil demand to fall to a ‘staggering’ 25-year low in April, says IEA
Global oil demand will plunge to its lowest level in 25-years this month, in what the International Energy Agency described as a “staggering” wipeout of nearly a decade’s growth.
Energy transition can be ‘crucial pathway out of the downturn’ says OGA chief
New investment in the energy transition can be a “crucial pathway” out of the latest downturn for North Sea firms, according to the head of the Oil and Gas Authority (OGA).
‘Uncharted waters’ for North Sea, but downturn could be ‘catalyst for change’
A senior audit and assurance partner at Deloitte said the downturn could be a “catalyst” for change, but oil firms are first taking steps to survive the “uncharted waters”.
Borr Drilling urged to reconsider redundancy plans for 230 North Sea workers
An offshore drilling firm has been urged to reconsider its plans to make 230 North Sea employees redundant.
Fears for 200 jobs as KCA workers face redundancy
Around 200 oil workers are to be laid off – and staff are furious they are not being furloughed.
Violence escalates in Libya despite coronavirus pleas
Crises are proliferating in Libya, with the conflict continuing to rage despite high-level assurances of ceasefires in response to the coronavirus pandemic.
Oil edges higher as market weighs output cuts against demand
Oil resumed gains to near $23 a barrel as investors weigh whether a deal by the world’s biggest producers to reduce output will be enough to offset the demand destruction caused by the coronavirus.
Simec Atlantis Energy furloughs workers due to Covid-19 pandemic
Workers have been furloughed at a Highland marine energy firm as it looks to mitigate the fallout of the coronavirus pandemic.
BP to open Dyce-based coronavirus testing facility
Oil and gas giant BP is set to open a new Dyce-based Covid-19 testing facility to halt the spread of the virus to its North Sea assets.
EnQuest set to weather storm with ‘quick action’
EnQuest has insisted its day-to-day operations are not “materially affected” by the coronavirus outbreak.
Update: Mexico’s refusal to play ball threatens Saudi-Russia oil deal
A historic multilateral deal to lower global oil production and stabilise prices, led by record cuts from Saudi Arabia and Russia, is at risk as Mexico refuses to agree to the proposed curbs.
Workers need to be ‘accountable’ for own health and safety, OGUK director says
North Sea workers must accept ‘accountability’ for their own health and safety in order to halt the spread of Covid-19 offshore.
How we respond in a crisis defines us
None of us have been in a situation remotely like this before. The rules and the facts are changing daily and it can be overwhelming to try to keep up with developments.
Low oil price could have a significant impact – we must be more innovative
With crude oil prices sitting in the low $30s due to the impact of a global pandemic, the oil and gas industry will have to be creative in how it responds to the impact around the world.
Transocean ‘taking precautions’ as Covid-19 confirmed on rig
Transocean has said it is “taking precautions” after two crew members tested positive for Covid-19 on one of its rigs offshore UK.
Shell pauses UK North Sea projects in response to low oil prices and Covid-19
Shell has hit pause on a number of UK North Sea projects due to the recent crude price drop and Covid-19 outbreak, it is understood.
80 jobs saved as Altrad agrees to furlough Grangemouth workers
Around 80 jobs have been saved at Altrad Services after union pressure saw the firm reinstate workers under the government’s furlough scheme.
Rivers turfs out Caverton in coronavirus crackdown
Rivers Governor Nyesom Wike has ordered Caverton Helicopters to halt operations in the state, as the row over a flight into Port Harcourt escalated.
‘Lack of guidance’ blamed for safety fears over Covid-19 spread at safe haven hotels
Safety fears have been raised about the potential spread of Covid-19 due to a lack of guidance given to oil and gas workers using Aberdeen’s new safe haven hotels.
Asian NOCs set to maintain domestic upstream spend
While most international oil companies (IOCs) have stated they will make major spending cuts this year in response to the downturn, Asian national oil companies (NOCs) are expected to maintain domestic upstream spending to help employment and economic activity levels.