ExxonMobil is the least resilient oil supermajor – Wood Mackenzie
New research has named ExxonMobil as the least "resilient" supermajor to weather the current oil downturn.
oil and gas
‘Wave of idle iron’ predicted as oil firms defer decommissioning and rush shutdowns
Widespread decommissioning deferrals could lead to a “wave of idle iron” in the UK and globally as companies rush to preserve cash and potentially shut down uneconomic oil platforms, according to new analysis.
Wood and Global Energy Group praise Scottish Government energy transition funding
Energy services firms Wood and Global Energy Group have praised a new £62m Scottish Government package, saying it will “build momentum” towards a "true energy transition".
Worley cuts another 1,900 jobs due to Covid-19
Engineering giant Worley has cut another 1,900 jobs globally in response to the Covid-19 crisis.
Oil and gas aviation is ‘area of weakness’ for Babcock as firm slumps into the red
Engineering service firm Babcock International slumped into the red in 2019-20 after suffering hefty impairments largely pinned on the “deteriorating” oil and gas market.
Aberdeenshire subsea firm Legasea targets new jobs and international expansion
New jobs are on the cards as an Aberdeenshire subsea equipment firm looks to international expansion, despite the Covid-19 pandemic.
‘Disgust’ as Bilfinger cuts 180 Aberdeen and offshore jobs hours after announcing £350m contract wins
Workers have expressed “disgust” after industrial services giant Bilfinger announced 180 job cuts in Aberdeen and offshore, just hours after touting contract wins worth £350million.
Weatherford CEO exits as struggling company faces ‘Chapter 22 bankruptcy’
Weatherford International’s chief executive has resigned just days before the struggling oil-field services company’s annual meeting and amid a debt crisis that could lead to a second bankruptcy filing in less than a year.
Shell boss ‘bothered’ by depiction of firm as ‘unwelcome player’ in energy transition
Royal Dutch Shell Plc had been turning out about 2.7 million barrels of oil each day until the novel coronavirus took hold of the world.
BP plans 10,000 job cuts
Energy giant BP has announced plans to cut around 10,000 jobs worldwide in response to the latest oil downturn.
Wartime lessons for Scotland’s energy sector
It has long intrigued me that, throughout the Second World War, the ground was being laid for the work of the North of Scotland Hydro Electric Board. Even in the darkest days of battle, people and politics were looking to a better future.
Oil and tourism could make pandemic’s economic shock more severe in Scotland
The Scottish Fiscal Commission has warned that the economic impact of the outbreak could be more severe in Scotland than the rest of the UK due to the predominance of the tourism and oil and gas industries.
‘If there is to be a new jobs taskforce then at least make sure that it is joined-up’
Not many days ago, a Scottish MSP said the Holyrood government ought to revive an initiative originally set up in 2015 to protect and sustain oil and gas jobs at a time of crisis.
‘Everyone has a plan until they get punched in the face’
"Build back better."
Scottish Government argues Brexit delay would help ‘remove instability’ for oil and gas
The Scottish Government has argued that delaying Brexit would “remove further instability” for the struggling oil and gas sector.
Total celebrates one billion barrels from Elgin-Franklin
Energy giant Total has reached the one billion-barrel milestone at its Elgin-Franklin complex, surpassing original estimates from when it started up nearly 20 years ago.
Slim pickings for UK oil and gas drilling
Westwood Global Energy reports that as of May 27 there were no exploration and appraisal wells active in the UK. In light of the Covid-19 pandemic and oil price crash, there have been a large number of E&A wells deferred to 2021.
‘Too many rigs carrying too much debt’ – Seadrill falls to £1.2bn loss and plans restructuring
Seadrill fell to a £1.2billion pre-tax loss at the start of the year off the back of heavy impairments for its rigs which are dropping in value.
Covid crude price crash gives oil firms ‘years, not decades’ to reshape, PwC says
The Covid-inflicted oil price crash has left oil and gas companies facing two distinct choices, a new report said.
Petrofac lands wells contract for IOG’s Core project in North Sea
Petrofac has been awarded a five-well contract for the first phase of Independent Oil and Gas’ (IOG) “Core” project in the North Sea.
UK North Sea seeks asymptomatic testing to help get thousands of people back to work
Asymptomatic testing will be the key “ask from government” to help get thousands of people back to work in the North Sea, according to an industry boss.
Forth Ports boosted by North Sea work coming to Dundee
More North Sea oil and gas work coming to the Port of Dundee boosted revenues for owner Forth Ports last year.
New president appointed for BP America
BP has appointed a new leader to head up its business in the United States, replacing industry veteran Susan Dio.
Offshore worker hospitalised with ‘crushing injury’ at North Sea field
An offshore worker has been hospitalised after sustaining a “crushing injury” at a North Sea oilfield.
Pandemic ‘deepens’ BP’s net zero transition but firm keeps quiet on finer details
Energy giant BP has told shareholders its net zero transition is “deepened and accelerated” by the Covid-19 pandemic, but kept quiet on the fine print.