NCDMB boosts funding for local companies
The Nigerian Content Development and Monitoring Board (NCDMB) is expanding the Nigerian Content Intervention (NCI) Fund to $350 million.
Coronavirus
North Sea went a week with zero medivacs for workers with Covid symptoms
North Sea industry recently had a week free of evacuations of workers with Covid-19 symptoms from offshore platforms.
As gas prices sag, Nigeria plans to export more
Nigeria plans to keep its liquefied natural supply at current levels despite prices near record lows, the opposite of what exporters from the US to Australia are doing.
Enterprising former oil workers clear out virus with ‘fog’
An Aberdeen-based oil and gas duo who got together to form a new venture keeping business premises free of Covid-19 have already expanded to cover Inverness and Dundee.
Dril-Quip ‘poised’ to slash north-east workforce
US oilfield equipment firm Dril-Quip could be poised to make scores of Aberdeen staff members redundant in response to the crude price slump and Covid-19 pandemic.
Missing diplomatic bag not enough to save Egypt
Egypt has lost its bid seeking more time in its dispute with Union Fenosa Gas (UFG), over a failure to supply gas to a liquefaction plant at Damietta.
Thousands to ‘virtually’ lobby UK Government over green-focused recovery to pandemic
More than 11,000 people have signed up to take part in a virtual lobbying of MPs to call for a green-focused recovery to the coronavirus pandemic that tackles the climate and nature crises.
‘Disrespectful’ to send letters to suppliers demanding cost cuts, BP procurement chief says
A global procurement chief at BP has said sending letters to suppliers demanding price reductions is “disrespectful” and “absolutely the wrong thing to do" for the oil and gas industry.
Buoyant Brimmond investing nearly £1m in rental fleet
Hefty investments and lengthy contract wins have put Brimmond Group in a “strong financial position” from which to ride out the latest oil industry downcycle, bosses said.
Shell’s Bonga ramps up despite COVID fears
Shell’s Bonga field completed maintenance last week and is ramping production back up, despite some isolated cases of coronavirus.
Is the decommissioning era finally approaching the reverse oil cycle?
Against the backdrop of current circumstances in the oil market, it is increasingly hard to predict what the future holds for the decommissioning industry. The oil price will have a significant effect on depleted and marginal fields and may push already conservative profit-making operations into the red. This, combined with COVID-19, has created more of an impasse for the market than arguably seen before.
Woodmac: How has the price crash changed the upstream sector?
The oil price crash wiped $1.6 trillion off the valuation of the global upstream industry, according to energy researcher and consultancy Wood Mackenzie.
After decade of excess, US shale industry will take years to recover
As oil prices tick up to $40 a barrel following a pandemic-induced plunge, there’s a sense the shale industry is snapping back to life with Continental Resources Inc., EOG Resources Inc. and Parsley Energy Inc. all saying they’re restarting closed wells.
Covid spike in US threatens oil’s remarkable price rally
A spike in U.S. coronavirus cases is threatening the oil market’s recovery from its historic plunge into negative territory.
UOG triples production in Egypt
United Oil & Gas (UOG) has increased its net production from Egypt’s Abu Sennan concession by 69%, while also reporting a reserve boost.
FAR slips into default at Sangomar
Australia’s FAR is in default for its payments due on the Sangomar field, following recent talk of delays in Senegal’s upstream plans.
DPR calls on workers to follow COVID rules
Nigeria’s Department of Petroleum Resources (DPR) has called for oil company and government personnel to follow rules and document procedures in order to tackle the pandemic.
Woodside defiant on Sangomar schedule
Woodside Petroleum has denied that first oil from the Sangomar field will be delayed because of the coronavirus pandemic.
Covid-19: a turning point for UK jobs
It has been another eventful couple of weeks in the global energy sector. The COVID-19 situation continues to create havoc across the world, as countries deal with the fall-out of the health crisis and associated economic impact.
HSE quarantines hordes of ‘substandard’ Covid-19 face marks destined for North Sea oil sector
The Health and Safety Executive (HSE) has revealed it prevented more than a million dodgy Covid-19 face masks from reaching the UK supply chain, with many headed for the North Sea oil and gas industry.
Minister hints North Sea retraining scheme could be relaunched
Economy Secretary Fiona Hyslop has hinted that an oil and gas “transition training fund” will be relaunched to help offshore workers who have lost their jobs during the pandemic.
The new ‘F-word’ in the energy sector
The Energy industry has taken another battering. But unlike previous economic hurricanes, this time within weeks centrally funded support was made available in the form of furlough leave and pay.
Mnazi Bay output to rise
Mnazi Bay production will increase for the rest of the year, following the end of the rainy season.
Oil continues decline as fears over second coronavirus wave persist
Oil resumed declines as fears a second coronavirus wave could threaten a recovery in demand outweighed further output cuts from major producers and more Federal Reserve support for the U.S. economy.
Aberdeen accountancy firm handles £5m in Covid claims
Accountancy firm Infinity Partnership, of Aberdeen, has reached a milestone of £5 million in Covid-19 claims for clients