Equinor’s profits crash by 98% due to oil price slump
Norway’s Equinor saw its profits slide by 98% - a drop of £3.8billion – year-on-year as the Covid-19 pandemic and oil price crash took effect.
Equinor
Lukoil signs Sonatrach MoU
Algeria’s Sonatrach has signed a memorandum of understanding (MoU) with Russia’s Lukoil, following a number of similar agreements.
Exclusive: 200 suspected Covid-19 cases evacuated from North Sea platforms during crisis
Around 200 North Sea workers have been evacuated with suspected Covid-19 symptoms over the last six weeks as the sector has attempted to manage the spread of the virus.
Equinor slashes dividend 67% to weather oil market crash
Equinor ASA, Norway’s biggest oil company, cut its dividend by two thirds as it grapples with an historic rout in the crude market.
Norway decision on production cuts looms
Norway has said it will soon decide whether to cut its oil production to help support plummeting prices.
Is carbon intensity a misleading metric?
It has been encouraging to witness many oil and gas majors sign up to the energy transition and net zero. Repsol, BP, Total, Shell and Equinor have all outlined their strategies.
Angolan production declines bite deep
Companies operating in Angola have reported a production decrease of 18.7% from 2017 to 2019.
Office market has ‘strong’ start in Q1
New research by global property giant CBRE has revealed a healthy start to 2020 for the office market in and around Aberdeen.
Solar well yields discovery, Finzean delayed, Westwood Global says
Westwood Global Energy reports that as of 2 April there was one exploration well that was in the process of completing, with no active E&A drilling.
BP to work with shareholder activist group on climate resolution
Oil and gas giant BP is set to work with a shareholder activist group towards a climate resolution, it announced today.
Scheduled projects ‘under review’ as Equinor announces £2.5bn coronavirus cost reduction plan
Norwegian energy giant Equinor has announced a £2.5 billion package of measures to help strengthen its financial position during the coronavirus outbreak.
North Sea oil and gas ‘must be part of economic response’ after Covid-19 outbreak, union warns
North Sea oil and gas “must be part of the response” to Scotland’s economic woes once a solution to the coronavirus outbreak has been found, a trade union has said.
Sector in survival mode could put energy transition ‘on back burner’, Woodmac warns
An oil and gas industry in “survival mode” could put plans to transition to a cleaner energy sector “on the back burner”, according to a top analyst.
Equinor, Total announce measures to combat price crash
Norwegian energy giant Equinor has suspended its share buyback programme due to the downturn in market conditions.
Apache ‘reducing activities’ on North Sea assets to prevent coronavirus spread
Apache is the latest in a growing list operators to confirm it is taking measures to prevent the spread of the coronavirus in the North Sea.
Flights resumed to Total’s Culzean field after suspected coronavirus patient taken to shore
Flights have been resumed to one of the UK’s largest gas fields after a worker suspected to have coronavirus was taken to shore.
New ‘corona copter’ service to remove virus cases from North Sea rigs
A group of North Sea operators have struck a deal with a helicopter operator to bring confirmed and suspected Covid-19 sufferers back to shore.
BP reviewing North Sea crew numbers in response to coronavirus outbreak
Energy giant BP has joined a list of operators working to reduce offshore crew numbers on its North Sea assets in response to the coronavirus outbreak.
North Sea firms reduce offshore crews in bid to prevent coronavirus spread
Several North Sea operators are reducing offshore crews on their UK platforms in a bid to prevent the spread of the coronavirus outbreak.
Oil firms will team up to deliver 200m barrels from North Sea
A group of oil and gas firms have joined forces to plan the delivery of more than 200 million barrels from the outer Moray Firth.
Equinor down-manning Martin Linge platform due to coronavirus discovery
Oil and gas firm Equinor has confirmed that it has begun down-manning procedures on its Martin Linge platform in the Norwegian section of the North Sea.
Aberdeenshire oil worker quarantined in China over coronavirus fears
An Aberdeenshire oil worker under quarantine in China has said he “doesn’t know” when he will be able to return to the UK.
Equinor confirms coronavirus case on North Sea platform
Oil giant Equinor has a confirmed case of coronavirus on one of its assets in the Norwegian section of the North Sea.
Vessel operator Sentinel Marine celebrating raft of deals worth £36m
Offshore support ship operator Sentinel Marine, of Aberdeen, has clinched new contracts and extensions worth £36 million since the start of 2020.
‘Interesting marriage’ between North Sea oil and offshore wind firms imminent, DeepWind boss says
An “interesting marriage” between North Sea oil majors and offshore wind companies is imminent and could electrify the basin, according to the man leading the charge in the north-east.