Well-Safe Solutions bosses have said higher oil prices, an easing of the pandemic and careful management of the firm’s cost base have positioned it to take advantage of an upturn in decommissioning activity.
Oil and gas company APA Corporation put last year’s hefty write-downs behind it to return to the black in the first six months of 2021.
Thailand’s PTT Exploration & Production (PTTEP) is managing to maintain its upstream oil and gas production obligations in Myanmar despite recent turbulence in the country that has delayed some activities.
Indonesian upstream regulator SKK Migas is preparing a strategic plan covering the decommissioning of more than 100 upstream oil and gas platforms in Southeast Asia’s largest producer of hydrocarbons.
Oil held the bulk of a three-day advance to trade above $71 a barrel amid optimism that rising demand will tighten the global market.
Transocean’s Deepwater Nautilus semi-submersible unit looks set to keep drilling offshore Myanmar for South Korea’s POSCO after the Swiss-based driller announced a contract extension.
Prince Abdulaziz bin Salman is the most powerful man in petroleum. The Saudi oil minister navigates unruly OPEC+ nations, huge swings in prices — and the end of fossil fuels.
Utilities firm Centrica said today that it was simplifying the sales process for its upstream exploration and production (E&P) business, Spirit Energy.
UK government revenues from oil and gas taxes have plummeted by more than 70% due to effects of the recent price crash and decommissioning repayments.
Brent oil was steady after tumbling to an eight-week low amid a broader market rout stoked by a Covid-19 resurgence, which has raised concerns about the short-term outlook for energy demand.
Oil led losses in a broad market selloff while a resurgent virus threatened the global economic recovery just as OPEC+ agreed to boost crude supply.
One of the North-east's best-known journalists, and The Press and Journal reporter widely acclaimed for being the first to bring news of the North Sea oil boom, Ted Strachan, has died at the age of 91.
A dozen activists have staged a protest at a UK Government building in Edinburgh in hope of convincing ministers to reject proposals for the Cambo oilfield, west of Shetland.
BP’s latest review of energy use has been presented as positive developments in carbon reduction. However, the facts remain that fossil fuels continue to provide most of the world’s energy needs and that developing Asia is driving demand.
Royal Dutch Shell announced late last year it would slash capacity by half at its biggest oil refinery. For Singapore, where the plant has been a mainstay of the economy for six decades, it marked a turning point in one of the most successful bets on fossil fuels in history.
Oil rose on optimism that fuel demand will keep rising and tighten the market, despite a Covid-19 resurgence in many regions.
Shell has abandoned its final attempt to argue that a major lawsuit brought by thousands of Nigerians over an oil spill in the West African country should be heard in Nigeria rather than the UK.
A United Nations (UN) human rights investigator has urged countries to impose economic sanctions on Myanmar’s oil and gas sector to cripple the military junta that seized power in a coup five months ago, reported Reuters.
The OPEC+ oil cartel is facing its biggest crisis since a price war at the start of the coronavirus pandemic.
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.
The rise of the machines – it’s not something that’s ever portrayed in a positive light in Sci-Fi movies or novels. But a new legion of souped-up robots is getting ready to boot up and make the offshore energy sector safer, keeping us out of harm’s way.
Carbon capture and storage (CCS) is seen as an essential requirement by the oil and gas industry for it to meet the targets of the Paris Agreement, however the only way it will become commercially viable is if companies collaborate to create shared-CCS hubs, according to Wood Mackenzie.
The OPEC+ alliance descended into bitter infighting after a key member blocked a deal at the last minute, forcing the group to postpone its meeting and casting doubt on an agreement that could ease a surge in oil prices.
Malaysian firm Dagang NeXchange (DNeX) said it had earmarked £51.4 million for production boosting work at the UK North Sea Anasuria Cluster after completing the acquisition of compatriot Ping Petroleum.