Bad behaviours of previous downturn back to the fore in 2020: report
Poor commercial behaviours that blighted the North Sea oil industry during the 2014-16 downturn were increasingly on display in 2020, a new report shows.
oil
Specialist oil and gas lawyer joins Gilson Gray
Law firm Gilson Gray has recruited Calum Crighton – a co-founder of Aberdeen's Lex Energy – to join its corporate practice.
Unemployed oil tankers about to get scrapped on beaches in Asia
Covid-19 is destroying the market for tankers that deliver about a fifth of the world’s crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap.
Marubeni looks to sell stakes in North Sea oil and gas fields
Marubeni Corp. could all but exit the UK North Sea as it looks to sell its main oil and gas fields in the region, according to people with knowledge of the matter.
Bank of England says prepare for carbon prices to triple to $100
Banks and businesses should start assessing their risks to future climate change immediately and prepare for carbon prices to more than triple to $100 per ton by 2030, a senior Bank of England official warned.
Hurricane ‘engaging’ with stakeholders on funding for west of Shetland plans, shares rise
Hurricane Energy’s chief executive said today that the firm is currently “engaging with stakeholders” on funding for the further development of its Lancaster field.
Three60 Energy bosses predict strong growth and creation of 50 global roles
Bosses at Three60 Energy are targeting significant financial growth and a recruitment drive across the global energy service group.
Oil industry engagement in offshore wind more informed and ambitious than ever before
Disruption can bring opportunities, and those businesses which have a mindset of accepting opportunities thrown up from the unwelcome disruption caused by Covid-19 will survive and thrive, while new businesses will emerge to capitalise on these opportunities.
UK North Sea exploration well tipped as ‘one to watch’ in 2021 by Westwood Global
An oil and gas market researcher has highlighted a UK North Sea exploration well expected to be drilled this year by Shell as “one to watch”.
Simmons boss says 2021 shaping up to be exciting period for M&A
This year is shaping up to be an exciting period for mergers and acquisitions (M&As) in the oil and gas industry, according to Aberdeen-based energy finance expert Mike Beveridge.
Ithaca Energy appoints new chief financial officer from Repsol Sinopec
North Sea oil firm Ithaca Energy said today it was adding another member of the Repsol Sinopec Resources UK (RSRUK) senior management team to its own ranks.
Visits by coal and cargo vessels to Peterhead ‘opens up new markets’
NorSea UK has said visits by grain and coal cargo ships to its quayside facilities in Peterhead reflect important new markets opening up after a multi-million-pound investment in diversification.
RAB-Microfluidics secures £1.24m investment
Aberdeen University spinout RAB-Microfluidics has secured £1.24 million in an investment round led by St Andrews-based seed funder Eos Advisory.
Oil firm Apache reveals plans for another restructuring
Bosses at Apache have announce plans to achieve greater "administrative and financial flexibility" by restructuring the Houston-headquartered oil company.
CNOOC at risk of delisting in US as sanctions bite
Chinese oil majors may be next in line for delisting in the US after the New York Stock Exchange said last week it would remove the Asian nation’s three biggest telecom companies.
Hydrasun’s resilience and staff unity hailed in year full of hurdles
Hydrasun’s boss has said the “unity of effort” shown by the firm’s employees and people in the wider oil and gas industry made 2020 a hard but “strangely rewarding” year.
Petrofac leans on ‘art of the possible’ mindset to develop digital tools saving clients millions
A technology chief at Petrofac says the energy service firm adopted the “art of the possible” philosophy in its mission to bring new digital products to the oil and gas inspection and maintenance market.
Regulator’s sanctions chief says some operators still ‘tripping up’
The head of disputes and sanctions at the Oil and Gas Authority (OGA) isn’t in the business of giving companies nasty shocks.
UK North Sea records fewest exploration wells since 60s
Westwood Global Energy reports that as of December 28 there was one exploration well and one appraisal well active in the UK.
Electrical fault results in partial down-manning of BP platform
Energy giant BP has partially down-manned its Clair platform, about 45 miles west of Shetland, due to an "electrical fault".
Updated: Oil advances on Covid-19 vaccine optimism and US stimulus
Oil climbed as the UK is poised to grant regulatory approval to another Covid-19 vaccine and as the US passed its stimulus bill into law.
Energy White Paper keeps industry waiting for key details of CCUS support mechanisms
Emerging technologies will be key to delivering the Government’s decarbonisation strategy and 2050 zero-carbon target, according to energy experts at Pinsent Masons.
Oil worker toasts new ‘Scottish’ rum
A north-east oil and gas worker has teamed up with his friend to bring a new “Scottish” rum to the market.
Oil price direction an ‘open question’ as Covid mutation weighs down Brent
A top petro-economist said today that the Covid-19 mutation had left an “open question” about the direction of Brent crude prices in the coming weeks.
Oil falls with virus mutation raising lockdown risks
Oil fell after posting a seventh weekly gain on concern a mutation of Covid-19 discovered in the U.K. could speed transmission of the virus and lead to more lockdowns.