Petrofac ‘cut off from key markets’ after Adnoc suspension
Petrofac has been cut off from three of its “largest and most promising” oil markets globally after being suspended from Adnoc tenders, according to new analysis.
oil and gas
Taqa mulls sale of assets in UK and Canada
Taqa is considering options for its oil and gas assets in the UK and elsewhere, including a potential sale, as the state-owned utility focuses more on power generation, people familiar with the matter said.
Court approves Chrysaor – Premier Oil merger
A Scottish court has given the green light to the merger of UK operators Chrysaor and Premier Oil.
Oil plunge: Prices had risen too quickly
For those who had been tracking technical indicators of oil this month, the message was clear: Crude prices had risen too quickly.
‘The next place to look is the UK’ says Ineos Energy chairman Gilvary
The UK North Sea is next on the list of growth targets for Ineos Energy, according to executive chairman Brian Gilvary.
Chrysaor VP predicts ‘huge amount of activity’ to 2025 for UK platform electrification
A senior boss at Chrysaor has projected a “huge amount of activity in the North Sea” for offshore platform electrification in the coming years.
BP fielding final bids for package of North Sea assets
BP is fielding final bids from a handful of junior energy companies for its North Sea assets, according to people familiar with the matter.
‘Stage being set’ for North Sea recovery, says flagship EY report
The “stage is being set” for a UK North Sea recovery from the second half of this year, according to the flagship oilfield services report (OFS) from EY.
Exxon says activist plan is threat to cash flow, dividend
Exxon Mobil said proposals put forth by an activist investor pushing for changes at the oil giant threaten future cash flows and the sustainability of its dividend.
New 3T Energy – EnerMech alliance bags Mozambique training deal
An new alliance between Aberdeen-headquartered EnerMech and 3T Energy Group has bagged a “significant” project to help shape future training of oil workers in Mozambique.
Big Oil: Time for a spin-off?
With Covid-19 continuing to impact the profitability of the supermajors, Ano Kuhanathan, sector advisor at trade credit insurer, Euler Hermes, argues that now is the time for the supermajors/Big Oil to start spinning off their renewables divisions.
Swift Drilling wins long-term decom deal with Wintershall in North Sea
Swift Drilling has won a multi-year decommissioning deal with Wintershall in the North Sea.
Petrofac suspended from competing for Adnoc contracts amid SFO investigation
Petrofac has been suspended from tendering for Adnoc contracts as a Serious Fraud Office (SFO) bribery investigation rolls on.
IOG finds more gas at Southern North Sea licences
Independent Oil and Gas (IOG) has upped its estimates for the amount of recoverable gas at two of its Southern North Sea licences.
Neptune Energy measures support to European economies at $2.1billion
Neptune Energy has commissioned a study showing it provided support of $2.1billion to economies across Europe in 2020.
Golden rules for virus protection offshore
In the last year, the Covid-19 pandemic has increased the risks of working in what was already one of the most hostile environments on Earth. But, with the first anniversary of the outbreak not long in our collective rear-view mirrors, offshore workers in the North Sea are facing a twin threat: emerging new variants of the virus and increasing Covid-fatigue and complacency.
IR35: What next for the PSC ‘one-man company’?
For many years in the North East of Scotland, the personal service company (PSC), otherwise referred to as a one-man company, has become a fairly standard way to provide services, particularly in the oil and gas sector, due to a mixture of employment law and tax law.
UK ministers consider ban on new North Sea exploration – report
UK ministers are considering a ban on new oil exploration licenses in the North Sea as a move away from fossil fuels, a step that could hit jobs and the Scottish economy, the Telegraph reported.
Bristow loses Apache North Sea contract to CHC
Bristow has lost its contract with Apache North Sea to rival helicopter operator CHC.
Babcock agrees sale of Aberdeen-headquartered helicopter business to CHC
Babcock helicopters has conditionally agreed the sale of its oil and gas aviation business to rival CHC.
Bilfinger Salamis appoints former Petrofac manager as Southern North Sea boss
Bilfinger Salamis has appointed a former Petrofac manager as the new figurehead for its Southern North Sea business.
North-east pump maker sees oil sector as stepping stone to renewables market
A north-east pump maker is hoping its entry into the oil and gas market will act as a stepping stone to renewables.
Addressing the Great Crew Change for oil and gas
The skills deficit in energy is a source of concern that has increased rapidly for employers. With global authorities cementing their commitment to reaching net zero targets by 2050 at the latest, the pressure is on for energy companies to deliver against substantial sustainability targets. But a dearth of trained resources has the potential to hinder this growth.
Ancala wins multi-million pound deal to bring Edvard Grieg gas to Scotland
Ancala Midstream has won a multi-million pound deal to transport gas from the prolific Edvard Grieg Area in Norway for processing in Scotland.
Babcock takes £5.2million hit on ‘loss-making contracts’
Babcock took a £5.2million hit for “loss-making contracts” for its North Sea helicopter business in the 2020 financial year.