ConocoPhillips loses $450m in third quarter
ConocoPhillips lost $450 million in the third quarter as low crude prices and reduced production during the coronavirus pandemic continued to take a toll on the company's bottom line.
oil and gas
OGA review shows ‘patchy compliance’ in management of licences
The Oil and Gas Authority has stressed the need for operators to maintain high licence management standards, after a report showed patchy compliance in some areas.
Don’t bank on it? Why institutional lending to oil and gas should continue
As banks taper lending to oil and gas projects amid a wider push for "sustainable investments", Fieldfisher energy specialists Paul Stockley, Oliver Abel Smith and Dougall Molson consider how fossil fuel companies can contribute to the sustainability agenda.
Here’s the latest on the resurgence of Libya’s oil industry
Libya’s oil industry reached a milestone over the past week with the reopening of the last of its oil fields and ports following a truce in a years-long civil war.
Two dead after vessel collides with platform in Petronas operated oil field
Petronas has said it is “deeply saddened” after a maintenance vessel crashed into a platform in the South China Sea, killing two people.
Aberdeen engineering firm believed to have laid off quarter of workforce
An Aberdeen-based subsea engineering and decommissioning services provider is believed to have laid off around a quarter of its workforce.
Deal with Li Ka-shing gives Canadian oil giant a Biden hedge
Cenovus Energy Inc. is getting more than just a rival Canadian oil producer with its acquisition of Husky Energy Inc. It’s also shoring up its defenses against an anti-oil sands movement that could get a boost if Joe Biden is elected as the next president of the U.S.
BP, Eni, Equinor, Shell and Total team up to develop North Sea carbon capture infrastructure
A number of the oil and gas industry’s biggest players have joined forces to speed up the decarbonisation of industry and power.
Bilfinger Salamis had ‘particularly strong year’ before Covid-19 hit
Bilfinger Salamis was having a “particularly strong year” before Covid-19 struck the oil and gas industry, new accounts have revealed.
Biden’s oil transition plan ‘doesn’t sound very revolutionary’ says Aberdeen Uni professor
The plan from Presidential hopeful Joe Biden plan to “transition” away from oil and gas “does not sound very revolutionary”, according to an Aberdeen University professor.
Equinor appoints new CFO as Lars Bacher resigns
Equinor has appointed a new chief financial officer (CFO) as incumbent Lars Bacher resigns after nearly 30 years with the firm.
Extinction Rebellion blockades Ineos Grangemouth refinery
Extinction Rebellion protestors have blockaded the gates at the Ineos petrochemical refinery at Grangemouth in another climate protest.
Grim year predicted for oil and gas at Cromarty Firth
Cruise liners could return to Highland waters as early as next spring, after staying away throughout 2020 due to the pandemic, the boss of the region’s busiest port has said.
‘We don’t want to bury the past’ – Wintershall Dea publishes book outlining history under Nazi rule
The insidious nature of National Socialism in Germany between 1933 and 1945 meant its impact was felt across society, from the dinner table to the boardroom.
Shipyards face ‘brutal’ £11.6billion losses over unwanted offshore rigs – Bassoe
Shipyards are facing “brutal” $15.2billion (£11.6bn) losses over new-build offshore drilling rigs that no one wants, according to Bassoe Offshore.
Suncor mulls sale of stakes in UK and Norwegian North Sea fields
Canada’s Suncor Energy Inc. is exploring the sale of a handful of oil and gas fields in the North Sea, according to people with knowledge of the matter.
Baker Hughes ‘intensely focussed on improving’ as firm stays deep in the red
Baker Hughes has said it remains “intensely focussed" on improving its "margin and return profile" as it stayed deep in the red in the third quarter.
‘Not coping’: HSE slams firms over offshore Covid risk to crew
The UK’s workplace safety watchdog has accused two offshore energy sector firms of putting crew at “serious risk” of catching Covid-19.
BP winds down one of the oldest companies in Scotland
Oil giant BP has appointed liquidators for one of the oldest companies in Scotland after nearly 135 years in operation.
Greece seeks halt to EU-Turkey customs union after vessel carries out seismic survey in disputed waters
Greece is stepping up diplomatic efforts to mobilize European Union partners against Turkey, as Ankara continues its energy prospecting in contested waters of the eastern Mediterranean.
VIDEO: Extinction Rebellion dumps ‘mounds of manure’ outside BP Aberdeen offices
Extinction Rebellion activists have dumped “mounds of manure” outside the BP offices in Aberdeen as part of a climate protest.
Oil steadies as Saudis say nobody should doubt OPEC’s commitment
Oil steadied as Saudi Arabia vowed that OPEC and its partners will do what’s necessary to balance the market.
Halliburton ‘executing on priorities’ after workforce reduced by 15,000
The chief executive of Halliburton has said “strong results” show it is “effectively executing on its strategic priorities” after the firm cut 15,000 jobs since the start of the year.
BP to make 7,500 of global job cuts compulsory – report
BP will make 7,500 of its planned global job cuts compulsory after roughly 2,500 workers applied for voluntary redundancy, according to a news report.
Oil slips with global virus surge depressing demand rebound
Oil clung to losses with signs of a shaky U.S. economic rebound and rising global coronavirus cases weighing on the prospect for a demand recovery.