Oil extends gains on vaccine progress as OPEC+ meets
Oil extended its gain with investors weighing news of another Covid-19 vaccine breakthrough as OPEC+ moved closer to delaying a planned easing of output cuts.
Covid-19
Peterson ‘well placed’ after carrying out resizing in response to Covid
International energy logistics provider Peterson has confirmed it carried out a “resizing” of the business earlier this year in order to make the transition to home working more straightforward.
Sonatrach calls for compliance with COVID-19 measures
Rising COVID-19 numbers in Algeria have driven Sonatrach boss Toufik Hakkar to call for employees to increase their vigilance.
OGUK says autumn ‘snapshot’ reinforces need for North Sea transition deal
Trade body Oil and Gas UK (OGUK) says its autumn “snapshot” reinforces the case for a North Sea transition deal to ensure the industry can “build back better” from Covid-19.
Assessing energy merger and acquisition opportunities in a time of pandemic
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
Plexus lands Schlumberger deal for wellhead tech through to 2030
Schlumberger will grant Aberdeen-headquartered Plexus Holdings royalties and a $500,000 lump sum payment after agreeing a multi-year licensing deal for its tech.
Exempt oil workers from having to self-isolate on mainland, says Scottish Tory leader
The Scottish and UK Governments have been urged to work together to introduce an exemption to coronavirus rules that mean offshore oil workers are required to self-isolate on the mainland.
Oil price rally loses shine as virus surge offsets vaccine optimism
Oil slipped back below $40 a barrel in New York with demand concerns keeping prices in check after crude was swept up in a broader market rally following news of a potential coronavirus vaccine breakthrough.
Oil jumps by most since June on Covid vaccine progress
Oil in London jumped by the most since June as Pfizer Inc. reported a potential Covid-19 vaccine breakthrough.
Douglas Ross: We must prioritise North Sea jobs over climate change targets
Scottish Conservative leader Douglas Ross will argue today that protecting North Sea oil and gas jobs should be prioritised over climate change targets.
No surge in sight for offshore manning levels – OGUK
The North Sea is not expected to see any surge in offshore manning levels for months, according to industry body Oil and Gas UK (OGUK).
Canadian Natural Resources swings to profit in Q3
Canadian Natural Resources has swung to profits of £244million in the third quarter after posting heavy losses earlier in the year due to Covid.
Time to adjust and embrace new thinking
It’s fair to say 2020 has been an unprecedented year. Imagine how unlikely it would have seemed this time last year if someone had said wearing masks in a shop would now be essential, handshakes a distant memory and that we would need to brave the October chill outside the Chester Hotel and Dutch Mill to enjoy a drink?
Subsea Expo postponed due to Covid-19 restrictions
Organisers of Subsea Expo have opted to postpone the 2021 showcase due to the recent tightening of Covid-19 restrictions.
Sturgeon says climate emergency, not Covid, remains world’s ‘greatest long-term challenge’
Nicola Sturgeon has warned that climate change, not Covid, remains the “greatest long-term challenge” facing the world ahead of a key international summit in Glasgow next year.
International SOS: Building resilient workforces
The Covid-19 pandemic has been one of the most impactful influences on the global workplace in recent years. Not since the advent of PCs and the introduction of the internet and email have organisations from every sector felt such a dramatic change in the way they work.
Baker Hughes cuts headcount by 15% in latest hit for the industry
Baker Hughes has shed thousands of jobs in response to the downturn, cutting headcount by 15% so far this year.
Rystad revises peak oil prediction, says demand wont return to pre-Covid levels until 2023
Global oil demand is expected to peak at just over 102 million barrels per day (bpd) by 2028, two years earlier than originally thought.
Oil falls to five-month low as lockdowns and Libya spook market
Oil kicked off what promises to be a turbulent week of trading by plunging to a five-month low as a continued increase in Libyan crude production coincided with a wave of new virus-lockdown measures in Europe.
Shell reassures workers amid concerns about Covid day rate pay
Shell has moved to reassure offshore workers that they will receive their full day rate, even if they’re forced to return home due to Covid-19 concerns.
Shell boss pleased with firm’s Covid-19 response, but admits to ‘humbling’ lessons
Shell can be “pleased” with its efforts to contain Covid-19 on its assets, the energy giant’s boss said today.
Covid-19 may stunt electricity demand for years
Electricity demand is unlikely to return to normal levels even after the development of a coronavirus vaccine, according to a new report by scientists from Columbia University.
Hunting cuts global workforce by 30% since start of year in response to ‘challenging environment’
International energy services provider Hunting has made further job losses as it continues to battle the dual impact of the Covid-19 pandemic and the oil price slump.
Unburdened by huge write-offs and impairments, BP returns to profit in third quarter
Energy giant BP returned to profit in the third quarter of 2020 as the firm benefitted from the absence of the huge write-offs and impairments which dented its previous results in August.
Aberdeen engineering firm believed to have laid off quarter of workforce
An Aberdeen-based subsea engineering and decommissioning services provider is believed to have laid off around a quarter of its workforce.