Transition deal boost for North Sea oil industry, but tougher scrutiny for explorers
A landmark £16 billion deal has given the North Sea oil industry a huge boost in its quest to transition to a low-carbon future.
oil
Holyrood under pressure to release stranded seafarers
Pressure is increasing on the Scottish Government to perform a U-turn and release seafarers stranded in a quarantine hotel.
Longboat taking part in a number of North Sea acquisition processes
Bosses at Longboat Energy are “participating” in a number of acquisition processes as the London-listed firm looks to do its maiden deal.
‘The loophole is ridiculous’: Mix-up leaves north seafarers missing vital family time stranded in quarantine hotel in Edinburgh
Seafarers told they were heading home to spend quality time with family have instead been left stranded “like prisoners” in a quarantine hotel after arriving in Scotland hours before exemption rules were updated.
UK oil and gas industry – Has the ‘cultural milk’ gone sour?
Much of my career has been in the oil and gas sector of the UKCS and I’ve felt extremely privileged to have worked with some amazing leaders over the years and some equally outstanding engineers, scientists, HR professionals.
Neo Energy looks to redevelop Affleck field in ‘opportunity rich’ North Sea
Neo Energy intends to make a call on the redevelopment of the Affleck field in the UK central North Sea “in the next few months”.
Japanese trading houses accelerate coal exit
Sojitz, a major Japanese trading house, has announced it will accelerate its exit from thermal coal by halving its investments in projects by 2025 and eliminating them entirely by 2030.
Eni sells Pakistan assets to Prime
Italy’s Eni has sold its Pakistan business to Prime International Oil & Gas Company as part of a plan to streamline its upstream portfolio to focus on strategic assets.
North Sea offers ‘excitement and upside’, Cairn boss says, despite asset sale
Cairn Energy’s chief executive said today that the UK North Sea still offered “excitement and upside” for exploration and production firms.
Neo Energy swoops for Zennor Petroleum in £450m deal
Neo Energy has continued its acquisition spree with a £450 million swoop for fellow private-equity backed North Sea oil firm Zennor Petroleum.
China’s oil imports surge as Brent cracks $70
China’s crude oil imports surged 28% year-on-year to 12.35 million barrels per day (b/d) in February. This was 2.7 million b/d higher compared to the same period a year ago, the latest data from analytics firm OilX showed.
China’s new green target still means pumping too much pollution
China’s first road map to achieving net zero emissions by 2060 may be too slow to stop the world’s biggest polluter from hastening global warming.
Oil jumps above $71 after key Saudi crude terminal attacked
Oil surged above $71 a barrel in Asian trading after Saudi Arabia said the world’s largest crude terminal was attacked, although output appeared to be unaffected after the missiles and drones were intercepted.
Taskforce confident of decommissioning activity ramp-up despite apparent loan snub
The joint heads of a taskforce are “absolutely confident” the group’s work will help stimulate an imminent ramp-up in North Sea oil-well decommissioning activity.
Indonesia’s Pertamina plans $92 billion spend
Indonesian national oil company (NOC) Pertamina has a planned capital expenditure totalling $92 billion for the term 2020-24. The NOC will be seeking external funding and partnerships to meet this goal.
Updated: Activist investor says relationship with Hurricane Energy has ‘deteriorated dramatically’
One of Hurricane Energy’s biggest shareholders has threatened to take “appropriate action” to maximise the company’s potential after complaining of a breakdown in their relationship.
Energy sector at risk from U.S.-China flashpoints
The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.
Chinese oil majors undervalued
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
Jersey ready to test interest in Buchan project, warns of ‘green premium’ for electrification
Jersey Oil and Gas is ready to test the market’s interest in its Greater Buchan Area (GBA) again after unveiling its £1 billion development concept, with platform electrification as a cornerstone.
Hydrogen is ‘jump ball’ in global clean-energy race, Kerry says
The U.S. oil and gas industry should embrace “huge opportunities” in producing and transporting hydrogen, with the potential for that cutting-edge energy source to fuel long-haul trucks and supply power globally, presidential climate envoy John Kerry said Tuesday.
India set for record oil demand on recovery from Covid washout
India, once the center of global oil demand growth, expects its fuel consumption to bounce back during the coming year as the nation recoups the losses caused by Covid-19.
Next generation of oil workers at heart of transition
For a successful energy transition, the world needs the oil and gas industry, with its considerable financial clout, to weigh in.
Firm at centre of north-east Brazilian Covid scare speaks out
The testing, inspection and certification firm at the centre of the north-east Brazilian Covid scare has spoken out about the unfolding health crisis.
Hurricane Energy dashes hopes for new Lancaster well in 2021
Hurricane Energy today dashed hopes that it could boost production from its Lancaster field, west of Shetland, with a new well in 2021.
EnQuest starts shutting down production from Dons fields
EnQuest said today that work to halt production from the Dons fields in the UK North Sea had begun.