Serica looks to ‘spread the risk’ beyond Erskine
Serica Energy’s boss said yesterday that the firm needs to “spread the risk” beyond the Erskine field by developing its North Sea assets and beefing up its portfolio.
oil
Production decline rates diminish hopes of crude price rise, Woodmac says
The rate of non-Opec production decline will remain steady through to 2020, creating disappointment for companies pinning their hopes on crude price rises, a new report said.
Faroe says North Sea acquisitions market ‘hotting up’
Faroe Petroleum's boss said yesterday that the North Sea mergers and acquisitions market is “hotting up” as players become more “impatient”.
Engineering jobs losses a ‘sorry blow’ to Moray
Moray SNP MSP Richard Lochhead said yesterday the loss of more than 30 jobs at a failed Fochabers engineering firm was a “sorry blow” to the economy.
‘Oil God’ Andy Hall’s final prophecy comes true
The final price prediction from Andy Hall -- the oil trader known to many in the industry as "God" -- seems to have come true. Not that it does his investors any good.
Oil Trader Trafigura heralds end of ‘lower for longer’ crude era
The age of persistently weak oil prices is nearing its end, with demand booming and a supply squeeze in the offing, according to Trafigura Group.
Adept Solutions doubles workforce following Culzean award
Aberdeen software firm Adept Solutions has doubled its workforce after winning a major North Sea contract.
Erskine field resumes production, Serica says
Serica Energy announced today that production at the Erskine field resumed at the end of last week.
Norway’s AF Gruppen picked for UK North Sea decommissioning work
Norwegian contractor AF Gruppen will help ConocoPhillips decommission up to seven southern North Sea platforms.
Global Energy completes Culzean field job
Global Energy Group has finished building and loading out more than 1,000tonnes worth of equipment for the North Sea Culzean field at its Invergordon base.
UK provides another £5m for North Sea surveys
The UK Government will provide a further £5million to boost oil and gas exploration in the North Sea, the chancellor said today.
Plexus to supply wellhead technology to Centrica’s Chiswick platform
Plexus Holdings has clinched a deal to supply Centrica with oilfield well equipment for a southern North Sea project.
Schlumberger to help IOG with southern North Sea development plans
Independent Oil and Gas (IOG) said today that Schlumberger would help get its field development plans for two North Sea gas projects over the line.
Hurricane’s early production system for Lancaster field approved
UK authorities have given Hurricane Energy permission to forge ahead with the early production system (EPS) for the Lancaster field, west of Shetland.
Hedge funds returning as oil market looks ‘heck of a lot better’
Things are looking up for oil and it’s bringing hedge funds back.
China imposes limit on oil supply to North Korea
China has announced that it will limit energy supplies to North Korea and stop buying its textiles under UN sanctions imposed over its nuclear and missile development, further reducing support from Pyongyang’s last ally.
China imposes limit on oil supply to North Korea
China has announced that it will limit energy supplies to North Korea and stop buying its textiles under UN sanctions imposed over its nuclear and missile development, further reducing support from Pyongyang’s last ally.
Opec and Russia hold steady on cuts as oil market improves
OPEC and Russia said they were about halfway toward clearing a global oil glut and urged fellow producers to stay focused and finish the job, without making any immediate changes to their agreement.
Shale billionaire Hamm slams ‘exaggerated’ US oil projections
Billionaire oilman Harold Hamm says the government was way too optimistic with its prediction of more than 1 million new barrels a day in US production, and the snafu is “distorting" global crude prices.
Hurricane’s losses deepen, but summer finance deal hailed
North sea oil firm Hurricane Energy posted deeper losses yesterday, but hailed this summer’s £405million finance deal as a “significant endorsement” of its west of Shetland ambitions
Awilco nets £90m North Sea drilling contract
Offshore vessel contractor Awilco Drilling has clinched a deal to undertake a well campaign on a North Sea field.
North Sea drilling failures show explorers suffered ‘collective brain freeze’, analyst says
UK North Sea oil explorers may have suffered “collective brain freeze” when coming up with their ambitious 2017 drilling targets, an analyst has said.
Hurricane chief hails capital support, reports first half loss
Hurricane Energy reported a loss for the first half the year of $4.2million.
OGUK challenges scientists’ gloomy North Sea prediction
Industry body Oil and Gas UK (OGUK) has challenged scientists’ gloomy prediction that North Sea oil and gas reserves will run out in 10 years.
Scoring invites to hottest oil trader parties gets tough
Liveried Sikh doormen have welcomed royalty, literary giants and the deep of pocket to Singapore’s Raffles Hotel for decades. And for one night in September they let in the global oil trading community for the industry’s social highlight of the year.