Exxon rebounds to first profit since 2019 on crude surge
Exxon Mobil snapped a record streak of losses as rising oil and natural gas prices bolstered one of the biggest dividends in the S&P 500 Index.
Covid-19
Chevron posts bumper cash flow after oil rally meets cuts
Chevron generated the most free cash flow since the pandemic emerged as economies clawing their way out of more than a year of lockdowns and paralysis burn more fuel.
OPEC+ sticks with plans to gently hike supply as demand recovers
OPEC and its allies recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India.
Almost 70 workers removed from North Sea accommodation vessel after Covid outbreak
Dozens of North Sea workers have been flown home after an outbreak of Covid-19 on an accommodation vessel.
‘Too risky’ to ease quarantine rules for oil workers, says Scottish Government
The Scottish Government has decided not to let up quarantine rules for oil and gas workers returning from overseas, deciding that doing so would be “too risky”.
Neart na Gaoithe developers ‘still hopeful’ of finishing on time despite encountering difficulties
Developers behind a major Scottish offshore wind farm say they are still hopeful it will be completed on schedule, despite encountering difficulties.
Oil set for best week since early March on better demand outlook
Oil is heading for the biggest weekly gain since early March on optimism the recovery in demand from the Covid-19 pandemic is improving.
Preparations to drill North Eigg underway as Serica posts ‘strong balance sheet’ for 2020
Serica Energy has confirmed preparations are underway to drill the North Eigg gas prospect after strengthening its “financial and operational foundations” in 2020.
Laid-off Halliburton worker’s firm helps people back to work
After losing his job last year due to the pandemic, an Aberdeen engineer is using his recent success to offer those in a similar situation employment.
Senior political figure says UK Gov should avoid delaying COP26 again, but admits decision ‘isn’t in our hands’
The COP26 climate conference should not be delayed for a second year if the UK “can possibly avoid it”, a senior political figure has said.
Vitol sees shift from oil to power
Trader Vitol sees its future in lying in the power sector, in a marked shift away from its oil roots.
Oil pares gain with OPEC+ to choose between hike or holding cuts
Oil pared an earlier increase in New York ahead of a high-stakes OPEC+ policy meeting, with producers debating whether to extend deep supply curbs or ease them.
Number of Covid cases linked to Safe Zephyrus outbreak doubles
Further Covid-19 cases have been recorded on a North Sea accommodation vessel following outbreak earlier this week.
Covid-19 cases confirmed aboard North Sea accommodation vessel
Shell has said it is taking “all appropriate precautions” after a handful of Covid-19 cases were detected aboard an accommodation vessel stationed on one of its North Sea fields.
Global Energy Group shares latest financial results, plans further investments in year ahead
Global Energy Group (GEG) has outlined plans to capitalise on the energy transition after enjoying a period of growth within the business.
BP CEO Looney takes £1.7m pay package in 2020
BP CEO Bernard Looney was awarded a total pay package of £1.7million in 2020.
Oil deepens slide on dollar gain, concern over short-term demand
Oil in New York dropped more than 5% as short-term demand concerns and a rising dollar collided to cause the biggest intraday drop since December.
Energy transition must be equitable for Africa
Tackling Africa’s energy access problems requires those involved to think of the entire system, rather than focusing simply on renewables.
Scottish Government urged to set date for travel quarantine review for non-exempt oil workers
The Scottish Government is being urged to set a date for reviewing current restrictions for Scots returning from oil jobs overseas.
OGUK report underlines need for ‘vital support’, says 30,000 job losses remains ‘reasonable estimate’
Oil and Gas UK (OGUK) has warned that the UK’s energy transition is at risk of stalling unless the industry receives “vital support” from government.
Brent crude retreats as $70 hurdle proves tough to break
Oil reversed course in London, despite a raft of economic data from China adding to signs of recovery from the coronavirus pandemic.
BP making permanent shift to flexible working, report says
BP has informed thousands of staff members they will not return to the office full-time when the pandemic lifts, a news report said.
Boskalis boasts ‘record high’ order books in 2020 despite ‘turbulent’ year
Royal Boskalis Westminster said it finished 2020 in a “very solid financial position” despite a “challenging and turbulent” 12 months.
Hunting reflects on ‘painful process’ after reducing headcount by more than a third in 2020
Hunting has said the group is positioned “well for the year ahead” after a strong finish to 2020, coupled with a more buoyant market outlook.
Dozens of oil rigs sold for scrapping in 2020 – Bassoe
Dozens of oil rigs were sold for scrapping in 2020 as the drilling sector dealt with the impacts of Covid-19, according to market-watcher Bassoe Offshore.