She floats! Maersk’s Culzean FSO vessel takes to water for first time
The floating storage and offloading (FSO) vessel for the North Sea Culzean field has taken to water for the first time.
oil
North Seas into its last decade of production, scientist says
North Sea oil and gas reserves will run out within the next 10 years, a Scottish geoscientist has said.
Far from the Texas coast, Hurricane Harvey hits oil refiners
Three weeks after Hurricane Harvey ravaged the massive fuel-making industry along the Texas coast, the region’s recovery from storm damage is starting to disrupt plans for crucial maintenance at refineries thousands of miles away from the flood zones.
Verbier’s second chance can pay off for Jersey, analyst says
The Verbier field is well worth taking a second look at and could morph into a larger project, an analyst said.
Regulatory changes to drive M&A activity for oil and gas industry
Dealmakers in the oil and gas sector believe the recent deregulatory environment will drive more M&A activity, with new capital poised to flow in, according to a recent survey conducted by Merrill Corporation, a leading provider of virtual data rooms, regulatory disclosure services, and regulated communications. This survey was conducted as part of Merrill’s ongoing webinar series on M&A across various segments, and included industry experts plus nearly 300 dealmakers.
Kuwait reports yet another oil spill
Kuwait has reported another oil spill, this time in the southern marine area of Ras Al-Zour.
Oil trades near $50 after decline in US drilling
Oil traded near $50 a barrel in New York, close to a three-month high, as a further reduction in US drilling added to signs the global crude surplus is abating.
Saudi mulls raising gas prices to reduce dependence on crude
Saudi Arabia is considering a plan to raise domestic prices for gasoline and jet fuel in November at the latest, as the world’s biggest oil exporter pushes a program to curtail spending and reduce dependence on crude after a global slump in prices.
Apache told to improve Corona field plans
US oil firm Apache has submitted an "enhanced" application to develop the North Sea Corona field after the UK Government asked for more clarity on its plans.
Weak upstream investment risks increased oil price volatility, IEA chief warns
A dearth of new investment in oil production is stoking a risk of tighter crude supply and unstable prices, even as demand growth is expected to slow over the next five years, according to a senior International Energy Agency official.
Update: Oil trades near 5-week high after reaching $50 on demand growth
Oil headed for a second weekly advance on forecasts for accelerating crude demand and as U.S. Gulf Coast refineries continued to recover from Hurricane Harvey.
Without Aberdeen, there’s no Hurricane Energy, oil chief says
Hurricane Energy’s landmark oilfield development west of Shetland is “on time and going according to plan”, the firm’s boss has said.
Device near North Sea platform packs same power as ‘car bomb’, expert says
A military explosives expert has said that the suspected depth charge found near a North Sea oil platform has the same explosive power as a car bomb.
Hurricane wise to take FPSO to Dubai for refit, analyst says
Hurricane Energy’s decision to have the FPSO for its Lancaster field upgraded in Dubai is a good move, an analyst has said.
Production restart on Erskine field delayed, Serica warns
Serica Energy said today that the Erskine field's return to production had been delayed until the end of this month.
Kraken FPSO completes first oil offload in North Sea, fastest in decade
The vessel on EnQuest’s Kraken field in the North Sea has made its first oil cargo delivery in what is thought to be fastest operation of its kind in the past decade.
Don’t expect oil production increases for much longer, Prof Kemp says
A top Aberdeen petro-economist has warned that oil production increases in Scotland will not be sustainable for much longer.
Centrica gets warning after gas leak on Morecambe Bay complex
The Health and Safety Executive (HSE) has dished out an improvement notice to Centrica following a “significant” leak at the Morecambe Bay complex in the Irish Sea.
Update: Oil climbs as IEA predicts fastest demand growth in two years
Oil rose as the International Energy Agency forecast the strongest demand growth in two years, while OPEC was said to discuss prolonging output cuts further into 2018.
NPD owns up to error in Barents oil income calculation
The Norwegian Petroleum Directorate (NPD) today admitted to an error in an assessment of the Barents Sea’s ability to generate oil revenues.
Sturgeon says oil jobs taskforce made ‘vital contribution’ to sector
First Minister Nicola Sturgeon said today that a group set up to support the oil and gas industry had made a “vital contribution to strengthening the sector”.
Value of North Sea oil and gas rises with production and price increase
The value of Scottish North Sea oil and gas has risen driven by an increase in production and prices, according to new figures.
Oil gains as Hurricane Irma weakens while US refining returns
Oil rose as Hurricane Irma weakened after hitting the Florida coast and as Gulf Coast refining continued to recover following storm Harvey.
Syrian Army in race with US-backed fighters for Eastern Syria
US-backed Syrian fighters have launched an offensive against the Islamic State group in eastern Syria along the border with Iraq.
Oil set for first weekly gain since July as US refiners return
Oil headed for the first weekly gain since July as Gulf Coast refiners ramp up crude processing after disruptions from Hurricane Harvey.