Saipem to downsize investment plans after losses of £644m
Saipem has confirmed it will “considerably” downsize its investment plans after posting pre-tax and interest losses of £644 million for the first half of this year.
Covid-19
Suspected offshore Covid-19 cases continue to fall, OGUK says
A leading industry body has revealed suspected Covid-19 cases offshore have continued to fall due to “effective industry-wide measures”.
Nigeria grapples with surge in unemployment amid pandemic
The number of people looking for employment through Nigeria’s biggest recruiting website has jumped five-fold since the start of the Covid-19 pandemic, highlighting the struggle faced by many in Africa’s largest economy.
Former Lloyds Register team ‘build better future’ after department is shuttered
Former members of the Lloyds Register upstream consulting team say they are “building a better future” after the entire department was closed down.
CNOOC profits and production drop during Riddoch’s final year
CNOOC saw profits and production tumble for its North Sea business in Ray Riddoch’s final year at the helm of the operating company.
Equinor plunges into the red as CEO warns of persistent Covid-19 ‘uncertainty’
Norwegian energy giant Equinor warned of the continued considerable "uncertainty" caused by Covid-19 as it plunged into the red in the first-half of 2020.
North Sea bringing Covid ‘under control’ with just 10 workers contracting virus offshore
The North Sea is bringing the risk of Covid "under control" with just 10 cases of people contracting it while at work offshore in the UK .
Baker Hughes slumps to pre-tax loss of £13bn in first half
US energy service firm Baker Hughes slumped to pre-tax losses of £13 billion ($16.5bn) in the first half of 2020, highlighting the severe impact of the Covid-19 pandemic and crude price drop.
Cairn-India arbitration ruling expected soon despite Covid disruption
Scottish oil firm Cairn Energy said today that Covid-19 should not significantly delay the long-awaited outcome of its £1.1 billion ($1.4bn) arbitration claim against India.
Halliburton loses £1.3billion in 2nd quarter
The coronavirus pandemic stung oilfield service company Halliburton with a $1.7 billion (£1.3bn) loss in the second quarter.
Investors seek clarity from Centrica amid dispute with unions
Centrica will hope to win back some investor confidence on Friday as it presents its latest figures amid a tough battle with unions.
Hiretech snaps up new offshore equipment as part of recent £600k investment
Aberdeen offshore rental firm Hiretech has announced it has acquired new equipment as part of a recent six figure investment in decommissioning equipment.
Subsea sector could ‘shift away’ from oil and gas if behaviours don’t improve
Subsea technology and service firms could turn their backs on oil and gas work if customers keep heaping pressure on margins, an industry chief has warned.
Repsol Sinopec CEO: Strong results don’t reflect ‘extremely challenging environment’
Repsol Sinopec Resources UK’s (RSRUK) new CEO has tempered the company’s latest set of “strong” results by saying they “do not reflect” their current challenges.
OGTC facing delay or cancellation for dozens of projects due to Covid-19
Dozens of projects ran by the Oil and Gas Technology Centre (OGTC) are facing delays or cancellation due to the Covid-19 pandemic.
Politics muddy Indonesia’s $48 billion refinery expansion plan after Aramco walks
Saudi Aramco’s experience may offer a cautionary tale to other investors considering multi-billion-dollar refining partnerships with Indonesian NOC Pertamina
Trump claims he ‘created’ the Texas oil industry
President Donald Trump on Monday downplayed “phony polls” showing a tight presidential race in Texas, saying he’s way ahead because he “saved the oil industry,” and later adding, “I created it.”
Oil and gas drilling set for ‘staggering’ 20-year low – Rystad
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
Cromarty Firth oil rig complaints spike as downturn puts vessels out of work
Complaints of the “blight” of oil rigs in the Cromarty Firth spiked over the last month as the industry downturn forced vessels out of work.
WATCH: Shell plant manager explains post-Covid oil economics with sketches
Teresa Waddington, Shell's plant manager for the Fife NGL Plant, has used her animation skills to create a short video about the economics of oil and gas as society comes out of the Covid-19 lockdown. Check it out above.
Sentinel Subsea: Innovating amid Covid-19 ‘roadblock’
When lockdown was first announced, Sentinel Subsea didn’t envisage that 15 weeks later, we would have developed and secured a field trial for our second well integrity monitoring system.
Covid-19 surge in the US creates dilemma for oil producers
A Covid-19 surge in the US creates a dilemma for oil producers going into crunch talks today and tomorrow.
Oil down as Opec+ prepares to lower output quotas
Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.
Offshore training firms surviving the downturn
The uncertainty caused by the outbreak of Covid-19 has touched every part of the North Sea oil and gas sector, not least businesses that supply the survival training the industry needs to keep ticking over.
Pandemic recovery can ‘catapult’ Scotland towards net zero, climate group urges
Policies to reduce carbon emissions have been proposed as Scotland's economy moves out of lockdown.