Analysts predict historic BP dividend cut, all majors to post Q2 losses
For the first time since the West’s five energy supermajors were created in the early 2000s, all of them are set to post a quarterly loss.
Equinor
Saipem bags Seagreen wind farm installation job
Italian engineering and construction firm Saipem has won a contract to install turbine foundations for the Seagreen wind farm, off the coast of Angus.
Report: Scotland holds ‘most attractive sites’ for floating wind as big growth forecast by 2040
A new report has claimed Scotland’s coastlines hold the “most attractive sites” for UK floating wind as the technology is set to explode over the next 20 years.
Aker Solutions reports faster-than-expected progress for £80m cost-cutting drive
Energy service firm Aker Solutions has reported faster-than-expected progress for its £80 million cost-cutting drive.
HydraWell and Exedra alliance creates new well abandonment service
Norway-based well integrity specialist company HydraWell has set its sights on growth by joining forces with a like-minded business.
CCS technologies are in place ‘but business case is not’ – Tom Baxter
Here is a quote from The Global CCS Institute “CCS is a proven and well understood technology”.
Equinor’s Tiger Lily well up next in central North Sea
Westwood Global Energy reports that as of July 1 there was one exploration and appraisal well active in the UK.
Equinor finance chief to take up the reins at Neo Energy
Exploration and production firm Neo Energy, of Aberdeen, will replace one mergers and acquisitions (M&A) specialist with another at the top of its management ladder.
Aker Solutions to cut dozens of offshore roles after Equinor puts North Sea project on hold
Aker Solutions will axe 44 offshore jobs after client Equinor shelved a UK North Sea project due to the oil price rout and Covid-19 outbreak.
Scottish floating wind price slash claims questioned by experts
The cost of delivering future North Sea floating wind farms could see prices slashed across the sector, according to new analysis.
Norway’s carbon capture plans could end up in financial ruin, report says
Norway’s plan for a full-scale carbon capture and storage project could end up a financial disaster, according to a new report that includes an increased cost estimate for the venture.
Digital debut for OGUK’s share fair
One of the offshore oil and gas industry’s most significant business development events is going digital in July when OGUK launches the first of its series of Share Fair Spotlight webinars featuring the forward work plans of Spirit Energy next week.
Shetland Energy Hub aims for hundreds of jobs and to make giant oilfields ‘net zero by 2030’
Ambitious plans for a new Energy Hub have been unveiled with hopes for hundreds of jobs and to make giant oil and gas fields in the West of Shetland "net zero by 2030”.
Oil majors ‘still falling short’ of climate goals – Carbon Tracker
Oil majors are “falling short” of global climate goals despite their updated emissions targets, according to a new report.
TechnipFMC secures £150m worth of work with Equinor
Equinor has awarded £150 million worth of work to TechnipFMC for three projects offshore Norway.
Shell and Total join UK floating offshore wind syndicate
North Sea oil giants Shell and Total have joined a UK floating offshore wind consortium created to drive forward the technology.
BP-scale job cuts ‘good ballpark estimate’ for every oil major – Rystad
BP-scale job cuts of 15% worldwide is a “good ballpark” estimate for every oil major, according to consultancy Rystad Energy.
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.
Oil crisis shows Norway remains a crude addict
Norway has been talking for years about weaning itself off oil, but the Covid-19 crisis has revealed how far it has left to go.
Highland and Grampian offshore wind boom could create ‘pipeline of work for 50 years’
An expected £8billion offshore wind boom promises the Highlands a “once-in-a-generation opportunity that could transform the region,” it was predicted yesterday.
Equinor-Var Energy move to ‘partially electrify’ North Sea field
Energy giant Equinor is to move forward with plans to "partially electrify" a field in the Norwegian section of the North Sea.
BP, Cnooc and Equinor partner with RGU spin-out to save industry millions
Artificial intelligence-based software being developed in Aberdeen is said to have the potential to unlock “significant value” from the UK North Sea.
Oil majors promise green capex, but only one is putting serious money on the table
Investments in solar and wind energy projects by the world’s oil majors over the next five years are expected to reach $17.5 billion, a Rystad Energy analysis finds.
Oil CEOs write open letter saying pandemic ‘sharpens focus’ on climate goals
The chief executives of 12 major oil and gas firms have written an open letter saying the Covid-19 pandemic won't delay climate action but has instead "sharpened" the focus on it.
Cut your deal according to your cloth
Innovation will be increasingly important to companies trying to do deals in the North Sea once prices start to rebound, CMS’ managing partner in Aberdeen, Norman Wisely, has said.