Hunting reduces headcount by 34% since start of 2020
Hunting will exit 2020 with fewer than 2,000 employees, a reduction of 34% since the start of the year.
Covid-19
Renergen talks up helium-powered vaccine case
South African Renergen has devised the Cryo-Vacc, which allows vaccines to be transported at extremely low temperatures for up to 30 days without power.
North Sea operators want ‘more evidence’ of sustained $50 oil price before greenlighting projects
North Sea operators would like “more evidence” that the $50 Brent oil price is here to stay before greenlighting long-term investments.
How to protect against the long-term effects of Covid-19
With news of a vaccination providing a glimmer of hope to the world, it is believed that we could be nearing a turning point for the pandemic that has gripped the globe.
‘Very surprised’ if UK oil workers get vaccine before Easter, says top microbiologist
One of the country's top microbiologists has said he would be “very surprised” if offshore oil and gas workers in the UK receive the Covid-19 vaccine before Easter.
Updated: Union estimates 12,000 North Sea jobs lost and warns of worse to come
A trade union boss has warned predictions that 8,000 jobs have been lost in the oil and gas sector due to the latest downturn are likely to be very conservative.
Oil and gas industry warned it needs to become ‘wholly different’ as CCC releases landmark net zero report
North Sea oil and gas firms are being warned they will need to become “wholly different” if they want to retain their position in the structure of the UK’s economy.
‘We must start the new year more positively’, says Oil and Gas UK chief
Reflecting on Oil and Gas UK’s prediction that North Sea projects could take up to three years to return, the industry body’s chief executive, Deirdre Michie, said, “we have to start the year more positively than that.”
CNOOC urges suppliers to help it unlock ‘challenged’ North Sea project
Exploration and production firm CNOOC has turned to an online resource managed by the UK oil sector’s regulator for help unlocking a North Sea project which is at risk of being left “stranded”.
New contracts, new Aberdeen base: Bilfinger Salamis buys into a brighter future
New contracts, renewals and the opening of a new Aberdeen base have been flipping the fortunes of Bilfinger Salamis after a stark start to 2020.
Oil price rises on news of UK vaccine
Spreads at both ends of the oil futures curve rallied on Wednesday as the UK approved a Covid-19 vaccine and the physical market displayed signs of strength in Asia and the North Sea.
Oil slips with OPEC still working to bridge gaps on output plan
Oil edged lower in New York, with OPEC and its partners engaging in a diplomatic push to agree on output levels before a key meeting on Thursday.
Schlumberger boss says Covid a ‘good test’ as end of Brexit transition period looms
A boss at Schlumberger has said Covid-19 was a “good test” for the oilfield service giant as it “braces” itself for the end of the Brexit transition period.
Oil rises despite OPEC+ struggle for consensus on output, second day of meeting postponed until tomorrow
Oil erased earlier losses with OPEC+ seeking more time to reach a deal on production policy after a meeting broke down without an agreement.
Andreas Nauen appointed chairman of WindEurope
WindEurope has elected Andreas Nauen, chief executive of Siemens Gamesa Renewable Energy (SGRE), as its chairman for the next 18 months.
OPEC+ inaction could lead to 200 million barrel surplus next year, Rystad says
Oil markets could be saturated with millions of surplus barrels if OPEC+ fails to agree an extension to current production cuts, according to analysis from Rystad Energy.
OPEC+ meets to seek compromise on plan to delay output hike
OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market.
Anti-Covid measures raise cost estimate for Bahamas well by 15%
Bahamas Petroleum Company (BPC) said today that measures put in place to tackle Covid-19 had led to a 15% increase to the cost estimate for its Perseverance well.
Russia and Saudi Arabia power risks OPEC+ break-up
Frustrated UAE representatives are sending subtle but strong signals that they may be the first in the OPEC+ oil producers group to break free and go it alone.
Energy transition commitments could go some way to reversing North Sea pessimism
It’s hoped commitments to put energy transition “at the heart” of economic recovery plans could go some way to reversing negative trends in the oil and gas industry.
North Sea firms warn further job losses on the horizon, confidence falls to lowest level since 2015
Around a fifth of North Sea oil and gas contractors have warned they expect to make further job cuts in 2021 as they continue to deal with ongoing turmoil in the sector.
Taqa takes £339million write-down on value of North Sea assets
Taqa has taken a £339million write-down in the value of its North Sea assets as a result of Covid-19 and the oil downturn.
North Sea oil industry ‘teetering on the brink’
A North Sea trade union boss has warned the oil industry is “teetering on the brink” due to a lack of activity and investment in the basin.
Oil clings to rally on signs of coronavirus vaccine progress
Crude held onto a rally amid progress on the development of coronavirus vaccines, with investors shrugging off a smaller-than-expected U.S. inventory build.
OPEC+ drops another hint it will delay production hike
OPEC+ said oil producing countries must be ready to act when the group gathers for its next full ministerial meeting in two weeks, the latest indication the cartel is preparing to delay a production increase.