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.
Covid-19
ExxonMobil is the least resilient oil supermajor – Wood Mackenzie
New research has named ExxonMobil as the least "resilient" supermajor to weather the current oil downturn.
‘Wave of idle iron’ predicted as oil firms defer decommissioning and rush shutdowns
Widespread decommissioning deferrals could lead to a “wave of idle iron” in the UK and globally as companies rush to preserve cash and potentially shut down uneconomic oil platforms, according to new analysis.
Var Energi increases lifespan of North Sea field despite Covid-19 ‘uncertainty’
Oil and gas firm Var Energi has announced the extension of a field in the Norwegian section of the North Sea.
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
Worley cuts another 1,900 jobs due to Covid-19
Engineering giant Worley has cut another 1,900 jobs globally in response to the Covid-19 crisis.
North-east economy to be worst-hit in Scotland due to oil price and pandemic, says KPMG
The north-east economy is expected to be the worst hit region in Scotland by the Covid crisis according to a new report by KPMG.
‘Disgust’ as Bilfinger cuts 180 Aberdeen and offshore jobs hours after announcing £350m contract wins
Workers have expressed “disgust” after industrial services giant Bilfinger announced 180 job cuts in Aberdeen and offshore, just hours after touting contract wins worth £350million.
Sector deal could ‘head off’ any more BP-scale job losses, says MP
An oil and gas sector deal could ensure any further BP-scale job losses are "headed off at the pass", according to a north-east MP.
Oceaneering puts 340 UK workers at risk of job cuts
Oceaneering has put more than 300 UK workers at risk of redundancy less than three months after opening a brand new regional headquarters in Aberdeen.
CEO exit a ‘big blow’ for Hurricane
Robert Trice’s exit from Hurricane Energy is “disappointing news” and a “big blow” for the company, an analyst has said.
BP cuts make oil jobs taskforce ‘more urgent than ever’
A North-east MSP has told the Scottish Government that a revived energy jobs taskforce is “more urgent than ever” after BP announced plans for 10,000 cuts globally.
BP plans 10,000 job cuts
Energy giant BP has announced plans to cut around 10,000 jobs worldwide in response to the latest oil downturn.
Dounreay firm offers up £100k to local businesses
The operator of the Dounreay nuclear plant is offering up £100,000 to assist local businesses to reopen as the lockdown eases.
Free protective visors turned down by NHS
Protective headgear made with the help of a donation from a taxpayer-backed Aberdeen organisation has been rejected by NHS Grampian.
Borr Drilling ‘extremely pleased’ with £250million financial lifeline
Borr Drilling has agreed a debt restructuring deal which will improve the liquidity of the rig operator by more than £250million for the next two years.
Deltic Energy, formerly Cluff, eyeing deal opportunities in UK and Dutch North Sea
The newly-branded Deltic Energy, formerly Cluff Natural Resources, is using the current “window of opportunity” to eye up potential deals as far afield as the Dutch North Sea.
North Sea bosses confident of weathering Covid crisis
For a trio of north-east oil service firms, the Covid-19 crisis could appear as a stop sign, blocking their progress just as they were reaping the rewards from years of groundwork.
Oil and tourism could make pandemic’s economic shock more severe in Scotland
The Scottish Fiscal Commission has warned that the economic impact of the outbreak could be more severe in Scotland than the rest of the UK due to the predominance of the tourism and oil and gas industries.
SSEN donates £150k to help vulnerable in Scotland during pandemic
Communities in the north and north-east have been awarded tens of thousands of pounds by an energy company to help them support others during the pandemic.
Scottish Government argues Brexit delay would help ‘remove instability’ for oil and gas
The Scottish Government has argued that delaying Brexit would “remove further instability” for the struggling oil and gas sector.
‘Relief’ for some as oil rises past $40, but North Sea activity to remain depressed
Oil prices rose past $40 per barrel mark on Wednesday amid speculation that quotas for international production cuts could be kept higher for longer.
Move to green energy paying dividends for Petrofac and Saipem during Covid-19
It is no accident that those traditional oil and gas companies which shifted investment and skills towards the renewable energy market are the same firms now celebrating big offshore wind contracts.
Downturn threatens UK’s ‘capacity and capability’ for North Sea decommissioning
UK decommissioning activity is expected to increase due to the effects of Covid-19, but threats to jobs and the longevity of skilled SMEs will impact the “capacity and capability” to carry it out.
Hibiscus safeguards against virus as it plans Marigold North Sea work next year
Hibiscus Petroleum plans to move ahead with its Marigold project in the UK North Sea next year, with safeguards against delays around Covid-19.