Taqa says production to restart on Harding platform next week
Taqa's Harding platform in the North Sea is expected to restart production early next week.
oil
Oil trades near highest in more than two years before Opec meets
Oil traded near the highest close in more than two years before OPEC meets this week to discuss extending supply cuts.
Opinion: War of words threatens to upend OPEC meeting
OPEC ministers head to Vienna, Austria, this week for the 173rd meeting of the Organization of Petroleum Exporting Countries. Brent crude prices are up almost 20 percent since the last meeting on May 25, 2017, while those for West Texas Intermediate are up around 10 percent. The Nov. 30 gathering is likely to have a different tone than the last two OPEC meetings because global oil demand has strengthened, inventories have tightened, prices are on the rise and trading technicals appear bullish.
Updated: Production shut down on Harding platform amid power supply glitch
Taqa's Harding platform in the North Sea is being partially down-manned amid problems with power and water supplies.
Opinion: Apart from oil sector tax break, Budget was an anti-climax
As the dust settles on the first Autumn Budget for over two decades, one might reasonably conclude it was, outside of the oil and gas sector, a bit of an anti-climax.
Oil heads for best weekly gain in month on Keystone disruption
Oil headed for its best weekly advance in a month after an outage on the Keystone pipeline added to speculation crude supply could tighten and as investors await OPEC’s decision on extending output curbs.
Oil industry shows signs of life after Norway wealth fund shock
A week after Norway’s $1 trillion sovereign wealth fund said it wanted to get out of oil and gas investments, the latest spending plans from oil companies show how the country’s not about to quit petroleum.
Tax break could lead to rush of deals in North Sea
A ground-breaking new tax break for the oil sector will revitalise the North Sea and pave the way for a flurry of deals, industry experts said yesterday.
Oil sets itself up for fall if Opec can’t extend cuts
Oil traders and analysts almost unanimously expect OPEC and Russia to prolong their production cuts next week. However, behind the scenes Saudi Arabia and Russia are still debating what course to follow.
Budget: Tax reforms could revitalise North Sea, EY’s Derek Leith says
The Chancellor's pledge to reform oil and gas tax law could help revitalise the North Sea, an industry tax expert said.
Oil holds strong at $58 as US supply drop adds to OPEC optimism
Oil stuck near a two-year high as a drop in US crude stockpiles added optimism to a rally underpinned by hopes for an OPEC deal extension.
Budget: OGUK welcomes vital tax reforms for North Sea
Oil and Gas UK (OGUK) has welcomed the government's decision to introduce transferable tax history for the oil and gas sector.
Budget: Tax history reform a ‘positive step forward’, Shell says
Oil major Shell said today called the decision to introduce transferable tax history for the oil and gas sector was a positive step forward.
BP deal will ‘catapult’ us into different league, Serica chief says
Serica Energy’s newly-appointed chief has said the acquisition of stakes in three North Sea fields from BP would “catapult” the firm into a “different league”.
Serica deal fits BP strategy of selling all bar west of Shetland assets, analyst says
BP’s sale of a package of North Sea fields to Serica Energy fits in with its North Sea strategy of focusing on its west of Shetland assets while offloading everything else, an analyst has said.
Video: Dana confirms first oil from Western Isles project
Dana Petroleum has confirmed the long-awaited arrival of first oil from the £1.5billion ($2billion) Western Isles development in the UK North Sea.
Oil heads for two-year high as US stocks shrink ahead of Opec decision
Oil headed for its highest close since June 2015 while trading volume surged after U.S. industry data showed crude stockpiles resumed declines and as investors await a decision by OPEC on extending output cuts.
EASA orders checks on Airbus copters following fatal crash in Japan
Europe’s air safety watchdog has issued an “emergency” airworthiness directive on certain Airbus helicopter models following a fatal crash in Japan.
Updated: Siccar Point farms out North Sea licences to Ineos
Siccar Point Energy said today that it had agreed to sell majority interests in two exploration licences in the west of Shetland area to energy giant Ineos.
Wild swings in Iraq oil production give Opec another problem
OPEC has an Iraq problem: the group’s second-biggest exporter is lurching between quota busting and production-crimping crisis, clouding the policy-making picture as ministers decide how long they need to extend output curbs.
Investors managing $630bn react to Norway oil ‘revolution’
Asset management in the Nordic region is dominated by Norway’s $1 trillion sovereign wealth fund, which last week said it wants to exit all its oil and gas stocks.
For Houston, a lot is riding on Opec’s next big decision
Houston's economic health hinges on what OPEC does later this month.
Oil holds ground above $56 after surge on Saudi cut extension plea
Oil held gains above $56 a barrel after surging the most in almost two weeks as Saudi Arabia’s energy minister said OPEC should announce an extension to supply cuts when it meets at the end of the month.
North Sea supply chain’s diversification drive to get £1m-plus boost
Two Scottish economic development bodies will invest a combined £1million-plus to help smaller oil service firms break the reliance on their core markets.
Oil set for best weekly run in year as Saudi upheaval stirs market
Oil is heading for a fifth weekly advance as political upheaval in the world’s biggest crude exporter countered an expansion of U.S. output to the highest level in more than three decades.