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.
oil and gas
‘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.
New Marex owner looks to renewables revolution for next phase of growth
The new owner of Aberdeen marine and risk consultancy Marex is targeting its next phase of growth amid a shift into the renewables sector.
Shell overtakes AstraZeneca on FTSE 100 top spot, share buybacks going ‘at pace’
Shell (LON: RDSA) has overtaken AstraZeneca to become the company with the largest market value on the FTSE 100 index.
Former BP boss Lord Browne says its time to break up Big Oil
Oil majors should do more to break themselves up into separate low-carbon and fossil fuels businesses, according to Lord Browne, the former boss of BP.
Carbon capture essential to net-zero ambitions
CCS and CCS-enabled hydrogen will speed transition towards decarbonised energy security, writes James Richardson, Director, UK Industrial Decarbonisation at energy technology company Baker Hughes.
Success only came after some pain for Blaze
Diversify into Green Energy they say, “pivot”, but those who have successfully achieved this know it takes time and the path is fraught with danger... with the devil being in the detail.
Brian Wilson: Time to tap into the energy potential of Scotland’s islands
The New Year is a time for staying close to home so, in that spirit, I will take a look at some energy-related issues that affect the Western Isles and will come to a head in 2022.
NorthStone: Spending surge predicted for oil and gas
While energy sector attention is focused on the low-carbon narrative, the short-term outlook for upstream activity is positive as we head into 2022. Consensus amongst industry analysts point to significant percentage increases in activity for next year, with further increases in 2023 and beyond.
‘I am Brad and I proudly work in the oil industry – don’t judge me’
If you work in the oil industry this feels like the mandatory, apologetic disclaimer required before being allowed to weigh-in on the energy transition nowadays.
This O&G CEO’s search for a digital solution ended up in a billion-pound software company
My definition of digitalisation is using digital tools to improve business processes.
ADNOC invests $1billion in 60-year-old Umm Shaif oil field
ADNOC has announced an investment of nearly $1billion to extend the life of the Umm Shaif oil field which started up 60 years ago.
BP says commitment to Scotland is its ‘unique differentiator’ in ScotWind bid
BP's “long-term” commitment to Scotland is a key selling point for the company and its partner EnBW in winning ScotWind acreage, according to the bid’s top boss.
Multimillion-pound deals spark expansion at Aberdeen firm EnerQuip
Queen’s Award-winning Aberdeen firm EnerQuip has beefed up its team across UK and US operations after netting work worth more than £1.5 million in the last few weeks of 2021.
The need for a reasoned debate on the future of oil and gas
In the latter stages of 2021, the lightning rod debate over the Cambo development has brought the role of oil and gas in our energy system into sharp focus.
Havfram eyes recruitment surge for Aberdeen base
With more than 30 years’ experience in oil, gas and renewables, Bob Gillespie has seen it all in the energy sector. In August 2020, he took up the reins as Managing Director of subsea and offshore wind contractor, Havfram in the UK.
‘We’re backing the oil and gas sector’: UK Government responds to Aberdeen business leaders
The UK energy secretary has responded to a letter penned by 58 Aberdeen business leaders which called for a more “reasoned debate” on the future of oil and gas.
Workers threaten strikes at Dales Engineering Services
Dozens of workers at north-east machining and fabrication firm Dales Engineering Services have threatened strike action amid a pay dispute.
Hunting announces new joint venture in India
London-headquartered energy services firm Hunting Plc (LON:HTG) has set up a new joint venture to take advantage of work in India.
Aker Solutions formally signs ‘sizeable’ decommissioning contract
Aker Solutions (OSLO: AKSO) has formally signed a “sizeable” contract for decommissioning work with Heerema Marine Contractors.
ADNOC unveils £2.7billion electrification project for huge offshore oil and gas fields
ADNOC has unveiled a £2.7billion development for electrification of giant offshore oil and gas fields off Abu Dhabi.
The Aberdeen 58: It’s in their hands, no one else’s
I read with wry amusement that some 58 of Aberdeen’s great and good have written to the First Minister Nicola Sturgeon and other political leaders asking for a “more reasoned debate” on the future of oil and gas.