With the reality that Brent oil prices are scratching closer and closer to $20 per barrel, shut-ins are already happening around the world. Even if prices reach this threshold, the UK will avoid shut-ins and exploration is likely to continue in 2020, although cash flow and project sanctioning will suffer, a Rystad Energy impact analysis shows.
Drilling contractor Archer is understood to have laid off another 60 offshore workers following a client’s decision to cut activity levels.
North Sea oil firm Ithaca Energy will cut its 2020 capital expenditure in half to £97 million in response to the crude price drop and Covid-19 outbreak.
A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.
Ithaca Energy has been warned by the UK's safety watchdog after exposing workers to “risk of serious personal injury or death from fire and explosion” on a North Sea vessel.
Nearly 50 offshore jobs at drilling contractor Archer are at risk due to client Ithaca Energy’s plans to reduce activity levels and crews on two central North Sea platforms.
A UK North Sea oil and gas discovery is showing “significant promise”, a project partner said today.
The owner of UK North Sea oil firm Ithaca Energy has been granted a temporary injunction against a lender who demanded the immediate repayment of a £46 million loan.
The Health and Safety Executive (HSE) has launched an inquiry after a crane collapsed on a second Valaris oil rig within a month of each other.
It was an interesting year for deal-making in 2019, despite political and economic challenges.
Ithaca Energy intends to create a “new infrastructure company” with an unspecified global investment company, the North Sea oil firm’s owner said yesterday.
Ithaca Energy has confirmed plans to sanction phase two of an enhanced oil recovery (EOR) project on the Captain field in the North Sea.
A former petrol pump designer has scooped Opito’s Apprentice of the Year Award at the age of 33.
The multiaward-winning Marischal Square developmentin Aberdeen is 75% let just over two years after construction work ended for the £107 million project.
US oil major Chevron plans to relocate its remaining Aberdeen employees to a prominent Granite City office block.
Ithaca Energy has submitted decommissioning plans for its Anglia field in the Southern North Sea.
Aberdeen’s Ithaca Energy said today that “quick payback” projects had boosted production at the company, which recently bought most of Chevron’s North Sea portfolio.
Petrofac has announced new contracts and extensions in the North Sea and Malaysia worth £93m, as well as an acquisition marking its entry to the US onshore services market.
Ithaca Energy’s boss said yesterday that the enlarged company was “raring to go” after completing the £1.6 billion acquisition of US firm Chevron’s UK North Sea business.
Oil giant Shell and partner Ithaca Energy have announced they will invest in the Pierce depressurisation project in the UK central North Sea.
Ithaca Energy has revised down the level of debt it will take on to help pay for its £1.6bn acquisition of Chevron’s North Sea business.
Aberdeen-headquartered Ithaca Energy said yesterday that it would snap up US oil giant Chevron’s central North Sea business in a £1.6 billion deal.
Profits dropped at Delek Group last year despite a strong showing from its North Sea business, Ithaca Energy.
Energy service giant Petrofac has won a £7.9 million contract to prepare a North Sea installation for a subsea tieback project.
The UK Government has approved Ithaca Energy's decommissioning plan for the Jacky field in the Moray Firth.