Exclusive: North Sea trade body OGUK drops ‘oil and gas’ from name in new energies rebrand
Oil and Gas UK (OGUK) is dropping “oil and gas” from its name in a rebrand which will see its focus and remit broaden to new energy sources.
oil and gas
Oil and gas uncertainty weighs on north-east house prices
House prices in Aberdeen and Aberdeenshire have experienced the lowest level of growth in Scotland as uncertainty over the region’s reliance on the oil and gas industry has weighed on property values, new research shows.
EC-OG becomes Verlume as pace of north-east energy transition quickens
Aberdeen-based subsea technology firm EC-OG has rebranded as Verlume, joining the throng of companies removing any reference to oil and gas in their names.
North Sea ‘falling behind’ as global offshore investment returns to pre-pandemic levels
The North Sea is one of just a handful of regions “falling behind” as offshore oil and gas investment returns to pre-pandemic levels around the world.
What would war in Ukraine mean for Europe’s energy crisis?
How hard will energy-starved Europe be hit by a potential Russian invasion of Ukraine? It depends on how President Joe Biden reacts.
Former Babcock business lands new helicopter contract with Well-Safe Solutions
Offshore Helicopter Services, the new name for the former Babcock Aberdeen business, has landed a new North Sea contract with Well-Safe Solutions.
Private equity deals surge to £2.4 billion for UK North Sea
Private equity took a keen interest in the UK North Sea in 2021, with £2.4 billion worth of deals for the country’s oil and gas industry.
Dozens of workers to strike at Peterhead’s Dales Engineering as inflation soars
More than 50 workers at Dales Engineering Services in Peterhead have voted to strike in a dispute over pay and concerns on the cost of living.
‘ScotWind £700m should be used to create Scottish sovereign wealth fund’
The ScotWind licencing announcements on January 17th were certainly a welcome and hugely material vote of confidence in the future of the offshore energy sector in the UK.
Watch: ‘Landmark’ moment as Well-Safe Guardian heads for North Sea
Well-Safe Solutions has hailed a “landmark” moment for the company, with footage of its Well-Safe Guardian rig heading off for its first UK contract.
BP and Rosneft only oil explorers to deliver 1billion+ barrels in 2021
BP and Rosneft were the only companies to deliver more than a billion net barrels of oil equivalent through exploration last year, according to new research.
North Sea oil majors to spend more on UK wind than fossil fuels
The biggest North Sea majors are set to invest more in the region’s wind power in the coming years than in its oil and gas.
ThinCats footed £13.5m to help Cheyne buy Ace Winches back from Balmoral
Alternative lender ThinCats has revealed its £13.5 million backing for north-east businessmen Alfie Cheyne buying back the company he founded, Ace Winches, from Balmoral Group.
Who won what? Norway dishes out 53 licences in oil and gas exploration round
Norway has dished out 53 licences in its latest round of awards for oil and gas exploration.
Aberdeenshire’s Denholm Environmental targets 25 new jobs after £700K investment
Aberdeenshire-headquartered Denholm Environmental plans to create up to 25 new jobs after a six-figure investment.
Cost of subsea tie-backs to surge £4.8billion in global market leader Norway
The world’s top market for subsea tie-backs will take an inflation-driven cost increase of £4.8billion on upcoming contract awards through to 2026.
Tech-enabled finance and HR solutions in demand in the energy sector
For many, the Covid pandemic has been a catalyst to press re-set on everything from our social values to health, well-being and sustainability.
BP hands in decommissioning plan for Foinaven FPSO
BP has handed in the decommissioning plan for the Foinaven FPSO in the West of Shetland following a flurry of HSE issues.
‘A statesman for the industry’: Tributes paid to Westwood Global founder John Westwood
Tributes have been paid to John Westwood, founder of the namesake energy market analytics firm, who has died aged 76.
Equinor: ‘Expect an update on Rosebank this year’
Equinor has said it will provide an update on the concept for the Rosebank project in the West of Shetland later this year.
Siccar Point and partners say Equinor ‘premature’ with Mariner downgrade
Siccar Point Energy has said that Equinor, its partner and operator of the Mariner project, has been "premature" in making a huge downgrade in reserves estimates for the field.
‘Not what we hoped it would be’: Equinor takes £1.3billion hit on Mariner field as reserves slashed by a third
Equinor has taken a £1.3billion impairment on the value of its Mariner field in the North Sea after a major downgrade to its recoverable reserves.
Bristow Helicopters UK business narrows losses but total debt rockets to £1.68bn
The UK arm of US helicopter giant Bristow has reported a narrowing of annual losses but it continues to rely heavily on goodwill from its parent.
Labour challenges Tories to scrap VAT on energy bills for a year
Labour is set to pile extra pressure on the Government over the rising cost of living by challenging MPs to back up past promises on cutting VAT.
Labour joins calls for North Sea ‘windfall tax’
Labour has joined calls to impose a one-off ‘windfall tax’ on North Sea oil and gas companies to fund measures to ease household energy bills.