Simmons predicts ‘renewed optimism’ will drive oil and gas deals in 2020
A renewed optimism in oil and gas will drive M&A activity forward in the new year, a top north-east dealmaker has said.
oil and gas
‘Major strides’ in US and Middle East bring growth for Craig International
Oilfield procurement specialists, Craig International, has continued to increase its global marketshare with two-thirds of the Aberdeen-headquartered company’s revenues now being generated outside of the UK.
Sentinel Marine to boost jobs after £150m investment in ERRV fleet
A north-east marine services firm is to increase staff by almost a quarter after a £150 million investment in a fleet of new emergency response and resuce vessels (ERRVs).
Balmoral Group reports a year of highs and lows
Balmoral Group Holdings reported a “mixed year” as it posted its first loss since 2007.
The cheapest barrel is the cleanest barrel
The North Sea is known for adapting to change and this year has demonstrated an indication of resilience in the sector. Confidence has slowly returned to a market which has changed dramatically in the last five years.
Saipem wins contract extensions worth over £1bn
Italian oil and gas contractor Saipem has announced contract extensions totaling over £1 billion.
VIDEO: Exxon celebrates Guyana’s first ever oil production
US energy giant ExxonMobil has released a video celebrating first oil from the Liza field off Guyana.
Government report reveals CNOOC as North Sea’s largest taxpayer, Shell sits lowest
A government report has revealed CNOOC was the biggest tax spender in the North Sea last year while energy giant Shell paid the least on balance after a reimbursement.
ExxonMobil discovers more oil off Guyana
ExxonMobil has announced a new discovery off Guyana, adding to previous estimates of 6billion barrels of recoverable oil equivalent.
The climate emergency has been declared – but what happens next for oil and gas?
2019 is going to be remembered as the year in which climate change has moved to the top of the political debate.
Exports: Middle East remains a tough but prospective territory for North Sea firms
It’s been several weeks now since Scotland’s oil and gas sector descended on trade show ADIPEC en masse, showcasing the technology and capabilities that have placed our industry at the forefront of the global energy industry.
Oil majors to abandon the North Sea? 30/1 – take a punt on the 2020 energy market
Everyone agrees that 2020 will be a critical year for energy transition, but how will things really play out? In the run-up to Christmas, Calash and Candour put their heads together over a glass or two of crude and have come up with 12 ‘golden’ moments for the energy market in 2020, some of which are extremely long shots.
The lost decade: energy stocks seek relevancy as investors flee
It’s been a tough run for energy stocks.
Taqa submits decommissioning plan for 30-year-old North Sea platform
Taqa has submitted plans to decommission a 30-year-old platform in the UK North Sea.
North Sea industry transition to continue in 2020
The North Sea oil industry has been in transition for some years following the collapse of oil prices in late 2014. Large cost reductions have been painfully achieved. Production has increased due to a combination of new fields coming on stream plus a substantial increase in production efficiency to around 75%. But new field investment expenditure has fallen dramatically since 2015 and exploration remains at a relatively low level reflecting principally the maturity of the province as well as oil and gas prices far below their pre-2015 levels.
Oil and gas sector procurement fuels need for cyber defence
As the oil and gas sector depends on contractors as part of the supply chain, a rising wave of global cyberattacks raises the question – how seriously do suppliers take cybersecurity?
Analysts ‘sound the alert’ on jackup rig prices after historically cheap sales
Analysts have “sounded the alert” on the value of jackup drilling rigs after two vessels were sold at “historically low” prices.
Aberdeen named UK’s wealthiest city and has two of the country’s most expensive streets
Two Aberdeen streets have been named among the most expensive in the country, while the Granite City has been recognised as the wealthiest region in the UK.
Bomb squad called to Fife harbour after suspicious package found on oil rig
Bomb disposal experts were called in after a suspicious package was found on an offshore platform near the Fife coast.
OGA assessing ‘barriers, opportunities and quick-wins’ to reduce North Sea emissions
The Oil and Gas Authority (OGA) is assessing how it can change regulations to make low-carbon solutions like hydrogen, platform electrification and CCUS more viable.
Talos Energy spends $640m on new deals to expand in US Gulf of Mexico
Talos Energy has struck a number of deals worth $640m (£488m) to expand its footprint in the US Gulf of Mexico.
Chevron to Take $11billion writedown amid weak gas prices
Chevron Corp. expects to write down as much as $11 billion in the fourth quarter, more than half of it from its Appalachia natural gas assets after a slump in prices.
Reuters DecomWorld confirm over 30 international E&P’s to Join 12th annual decommissioning summit in Houston, 2020
DecomWorld – part of Reuters Events- today announced the confirmation of over 30 international E&P delegations to attend their 12th Annual D&A Summit (March 31 – 1 April, Houston).
Aberdeen oil and gas worker aims to make it big as music producer
From boardroom meetings to the DJ decks, aspiring music producer Nick Cronin told Ellie House why gritty soul could be his big break.
Profits plummet 90% for Diamond Offshore’s UK business
Lower dayrates and fewer revenue-earning days saw profits drop by more than 90% at Diamond Offshore’s UK business.