Oil rallies most since May on optimism over Trump recovery
Oil jumped the most since May in New York as President Donald Trump’s prognosis seemed to improve and stirred optimism over the possibility of an economic relief deal in Washington.
oil
Odfjell Drilling awarded major contract for work on Breidablikk field
Equinor has awarded a $290 million (£223m) contract to Odfjell Drilling for work on the 200-million-barrel Breidablikk field in the Norwegian North Sea.
Don’t let there be a ‘Kodak moment’
The UK North Sea oil industry may have reached its own Kodak moment, said Stuart Payne, a director at the sector’s regulator.
Oil extends losses after President Trump says he has Covid-19
Oil was caught up in a broad downward move in financial markets after President Donald Trump said he had tested positive for the Covid-19 virus.
Early rig exit suggests no Finzean find
Westwood Global Energy reports that as of September 30 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. There has been no appraisal drilling to date this year.
Jersey favours fixed platform for Buchan area, sales process to launch early next year
Jersey Oil and Gas said today that a new, fixed platform would be its preferred option for developing its flagship Greater Buchan Area (GBA) in the North Sea.
UKCS exploration drilling on course for record low in 2020, Westwood Global says
UK offshore exploration drilling is on course to slump this year to its lowest level since companies starting scouring the North Sea for oil in the mid-1960s.
Aker Solutions, Wood clinch contracts as Equinor sanctions major subsea development
Equinor and partners have made a final investment decision to develop the 200-million-barrel Breidablikk field in the Norwegian North Sea.
Energy transition ‘accelerated’ by coronavirus
The north-east oil and gas sector’s approach to energy transition is being accelerated by the Covid-19 crisis, according to the chairman of Scottish commercial law firm Burness Paull.
Neptune forges ahead with 50m barrel project as subsea construction starts
Private-equity-backed Neptune Energy has kicked off the subsea construction phase of its Covid-delayed Seagull project offshore UK.
BP and Chevron veteran joins OGA as area manager
The Oil and Gas Authority (OGA) has appointed a BP and Chevron veteran is its new central North Sea area manager.
EnQuest, Sinopec ‘among bidders’ for ExxonMobil UK North Sea oil and gas fields
ExxonMobil's UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the US oil giant seeks to exit the aging region altogether, according to people with knowledge of the matter.
Benevolent oil boss helps his boyhood Scout group buy old north-east church hall as new home
A former Scout turned Aberdeen oil boss has helped his boyhood group buy an old church hall to use as their permanent home.
Top North Sea emitter UK needs to electrify its rising oil and gas output to reach climate goals
The UK Government has set a goal to reach net zero emissions by 2050.
Five more firms to get behind new deal for UK North Sea workers
Five more energy service firms have agreed to help develop an alternative to a key UK North Sea collective bargaining agreement that is being scrapped.
Kishorn Port enhances offer with new accommodation block
The upgrading of Kishorn Port (KPL) as its owners bid to win more work from the oil and gas, renewable energy and decommissioning sectors has continued, with the establishment of new on-site accommodation for workers at the remote Wester Ross facility.
Clinic leads way in rapid test kits for coronavirus
An Aberdeen-based healthcare business is among the first in the world to get its hands on the latest in Covid-19 testing technology from life sciences firm LumiraDx.
South Sudan fails to pay workers as oil plunge fuels crisis
South Sudan is running short of foreign-cash reserves and is struggling to pay public-servants’ wages as Africa’s newest country battles weak oil prices and violence that’s straining a peace agreement.
Oil edges higher ahead of OPEC+ meeting with demand in focus
Oil has climbed ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-driven demand destruction falters.
Greece and Turkey willing to enter talks on sea dispute
After weeks of tensions in the eastern Mediterranean, Greece and Turkey have signalled a willingness to start talks aimed at resolving a long-standing sea dispute tied to potentially lucrative offshore gas deposits.
Hurricane ‘arguably’ a takeover target after ‘awful’ downgrade, analyst says
Hurricane Energy is now “arguably” a takeover target for companies brave enough to “take a punt on basement plays” after it revealed a huge downgrade to its resource base, an analyst has said.
Updated: Hurricane makes huge cuts to west of Shetland oil resource estimates
Hurricane Energy slashed its oil resource estimates in a crushing blow to investors who hoped the firm would become a west of Shetland oil powerhouse.
Eight steps for a safe and healthy workplace
Organisations have continued to operate safely throughout the Covid-19 pandemic, with business leaders adapting to protect the health and safety of their employees both on and offshore.
Serica hunts for deals as majors look to rationalise portfolios
Serica Energy chief executive Mitch Flegg has said the North Sea oil and gas firm is on the hunt for acquisitions as majors look to “rationalise” their portfolios.
Serica boss hails ‘extremely low cost base’ as firm stays in the black
Serica Energy’s boss said today that maintaining an “extremely low cost base” was a key factor in the company’s delivery of profits in the first half of 2020.