Subsea 7 facing ‘significant headwinds’ and withdraws 2020 guidance
Subsea 7 has warned of “significant headwinds” from the dual impact of the coronavirus and plummet in oil price.
Covid-19
Petrol stations ‘will have to close due to impact of Covid-19’
Many petrol stations will be forced to close due to a lack of sales and their businesses becoming unprofitable, a trade association has warned.
Hunkering down for prolonged low prices, Neptune identifies cost cuts
Neptune Energy bosses insist the firm is “resilient enough to meet the challenges of today” as they hunker down for a prolonged period of low oil and gas prices.
Oil’s apocalyptic April could reverberate for years to come
Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come.
Stork sacks North Sea workers due to Covid-19 operational drop-off
An Aberdeen oil and gas contractor has sacked a number of North Sea workers due to a drop-off in demand related to the coronavirus outbreak.
BP CEO promises staff jobs are safe for at least three months
BP has promised its employees their jobs are safe over the next three months, while the oil major considers ways to cut costs with crude prices plunging.
Shell warns of major hit to cash flow from oil price plummet
Shell has warned that cash flow will take a major hit when the firm publishes its first quarter results next month.
World oil output may fall by 10million barrels a day, IHS Says
IHS Markit expects as much as 10 million barrels a day of world oil production to be cut or shut-in from April through June as storage fills up and demand craters due to the Covid-19 pandemic.
Siccar Point delays approval for flagship Cambo field in West of Shetland
Siccar Point Energy has announced it will defer approval of its highly-anticipated Cambo development until the second half of next year due to the coronavirus outbreak.
Virus looks set to delay BP’s Tangguh LNG expansion
BP will be bracing for a delay in the start-up of its third liquefied natural gas (LNG) train at the Tangguh LNG project in West Papua province, Indonesia, due to the Covid-19 pandemic.
North Sea operators move to reduce cabin sharing ‘wherever possible’
A series of North Sea operators are working to remove cabin sharing offshore “wherever possible” in order to prevent the spread of the coronavirus.
Aberdeen Airpark to close permanently after 17 years due to coronavirus impact
A family-run Aberdeen business is facing closure this week due to the effects of the coronavirus on air travel.
Apache calls in bank guarantees of £530m to cover North Sea decommissioning after S&P downgrades credit rating
Apache has confirmed it will call in letters of credit of £531million to guarantee it will pay off decommissioning obligations in the UK North Sea.
Volatile Pound causes hedging headache for virus-stricken firms
The pound’s wild fluctuations are causing more distress for businesses already struggling under an unprecedented lockdown of the U.K. economy.
Worker quarantined on Chrysaor’s Britannia platform
An offshore worker has been put into quarantine on a North Sea platform operated by Chrysaor.
BP reassessing 2020 AGM as venue being converted into coronavirus hospital
BP is reassessing the “chosen venue” for its 2020 Annual General Meeting as the planned site is being converted into a coronavirus field hospital.
‘Life and death situation’ as worker confirmed with virus at Hurricane’s Lancaster field
A “seriously ill” offshore worker has contracted coronavirus and been airlifted to hospital from Hurricane Energy’s Lancaster field in the West of Shetland.
‘They’ve got to put food on the table’ – concern offshore workers could flout coronavirus advice
A union boss has stepped up calls for a support package for offshore workers amid concerns some may flout coronavirus advice in order to provide for their families.
Covid-19: Not everyone’s working from home
The burden of the COVID-19 pandemic weighs heavily on us all.
Foundation Scotland ‘in conversation’ with wind farm funds over Covid-19 relief
A Scottish administrator has said it is “in conversation” with a number of wind farm funds about providing coronavirus relief.
Subsea 7 worker trapped in Ghana due to Covid-19 left in ‘dangerous situation’
An offshore worker trapped in Ghana has accused bosses of placing him in a “dangerous situation” and not acting quickly enough to get him home to his disabled son.
More than a million oilfield services jobs will ‘likely be cut’, Rystad warns
More than a million oilfield services (OFS) jobs globally "will likely be cut" as the industry grapples with the oil price war and the effects of the coronavirus, according to Rystad Energy.
No ‘adverse impact’ on North Sea operations due to Covid-19, RockRose boss says
RockRose Energy hasn't experienced any "adverse impact" on its North Sea operations due to the Covid-19 outbreak, according to the firm's boss.
Contractor tests positive for coronavirus after visiting St Fergus gas terminal
A contractor who visited a major north-east gas plant has been confirmed as having coronavirus.
EnQuest delays financial results over coronavirus
EnQuest is to delay publication of its full year financial results due to the coronavirus.