Decipher gearing up for Orlando development well
The boss at North Sea newcomer Decipher Energy has confirmed that a well will be drilled on its Orlando licence in the near future.
oil
In oil drilling, science replaces art
The days of poking a hole in the ground and hoping to strike oil are largely gone, thanks to geologic surveying and 3-D seismic imaging.
Updated: Oil trades near three-year high as Iraq joins call to keep cuts
Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers for OPEC-led output cuts to continue, despite recent price gains.
Shell’s Penguins redevelopment to deliver hundreds of jobs
Shell's North Sea boss said today that the construction phase of its Penguins area project will create up to 400 UK jobs.
More 2018 project sanctions to follow Shell’s Penguins decision, OGA says
The regulator for North Sea industry said it expects more "high value projects" to be sanctioned this year, prolonging production for years to come.
Shell delivers ‘significant boost’ with Penguins call, Scottish Government says
Shell’s redevelopment of a North Sea field will deliver a “significant boost” to north-east communities, the Scottish Government said.
Ineos reorganises oil and gas business with 6 new units
Petrochemicals giant Ineos today confirmed the reorganisation of its oil and gas business.
OGUK says Shell’s Penguins investment gets 2018 off to ‘exciting start’
Industry body Oil and Gas UK (OGUK) said 2018 had got off to an "exciting start" after Shell's decision to redevelop one of its North Sea fields.
Opinion: Pressure rising on OPEC to manage long-term output
The battle between OPEC and shale oil producers can be characterized as a two-round fight. In the first round, shale producers gained market share and the price of crude crashed. In the second, OPEC curbed output as shale producers adapted to the lower prices. Now, get ready for round three, as OPEC and Russia try to plot a way out of their production cuts but likely get stymied by market twists and turns that upset their calculations.
Opinion: Hot money’s pushing oil to $70, but OPEC should keep cool
Brent crude touched $70 a barrel on Thursday, a level it last saw three years ago. That might start to look like a level where OPEC could say that its work to rebalance the market is done.
Still ‘too early to celebrate’ $70 oil, experts say
A Brent crude price pushing $70 will provide a “feel-good” factor for North Sea oil, but it may still be “too early to celebrate”, industry experts have said.
Updated: Oil steadies after hitting $70 amid tighter global supplies
Oil steadied in London after briefly climbing above $70 a barrel for the first time in three years as a global surplus recedes.
‘Unusual’ Catcher project to help get Premier Oil back in shape
Premier Oil’s chief executive said yesterday that he hopes to have the firm’s balance sheet “back in shape” in a year with the help from the “unusual” Catcher area.
Fire crews attempt to put out blaze on oil tanker off China
Firefighting vessels have resumed attempts to put out a blaze aboard an oil tanker in the East China Sea, according to media reports.
Here’s why investors can’t get enough of oil with $70 in sight
To really understand what’s helping push oil prices toward $70 a barrel, just follow the money.
UAE says Opec committed to supply cuts through 2018
OPEC will stick with production cuts for the rest of the year as the group makes headway toward its goal of clearing an oversupply of crude, United Arab Emirates Energy Minister Suhail Al Mazrouei said Thursday.
Catcher first oil ‘accelerates’ Premier’s debt reduction drive
Premier Oil’s debt reduction drive will “accelerate” at current oil prices as production from its Catcher field ramps up, the firm said today.
North Sea set for bumper year of project sanctions, Woodmac says
The UK North Sea will enjoy a bumper year for production and new project sanctions in 2018, a new report says.
Scottish green energy a better job creator than decom, ex-minister says
A former Scottish Government minister has backed calls to leave old oil and gas platforms in the North Sea forever – and invest the £15billion saving in green energy.
Trac boss ‘satisfied’ as firm returns to black
The boss of Trac Oil and Gas said yesterday that he was “satisfied” after the company returned to the black in 2016-17.
Hurricane’s remarkable west of Shetland story enters critical phase
Because of the now enormous potential of Hurricane Energy’s successes West of Shetland and the huge advances made by the company on that front, this is the focus of our latest look at the UK sector of the Atlantic Frontier.
The year the UK oilfield services industry came back from the brink
The expression ‘cautious optimism’ continues to dominate the oil and gas sector, and over the course of the past 12 months the pendulum has swung back and forth between these two words.
New energy minister urged to visit Aberdeen oil bosses
Calls were made yesterday for new energy minister Claire Perry to prioritise a visit to Aberdeen to meet oil and gas leaders.
Oil platforms should be left in North Sea, Aberdeen academic says
Oil platforms in the North Sea should be made clean and safe then left in position, according to an industry expert.
Opec will try to talk prices down if oil tops $70, Goldman says
OPEC would try to talk down an oil rally above $70 a barrel to cushion the impact on the global economy and rival supplies, according to Goldman Sachs Group Inc.