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The Covid-19 pandemic has had a vast impact on people’s lives, as well as on companies around the world.
oil
CHC ‘up for the challenge’ of evolving amid price pressures, boss says
North Sea helicopter bosses created some turbulence of their own last month with eyebrow-raising statements about competition and pricing pressures.
Oil back above $40, buoyed by rising equities and technicals
Oil moved back above $40 a barrel in London, as broader markets rebounded from Tuesday’s selloff.
Updated: Oil extends losses after first sub-$40 close since mid-June
Oil extended losses after its biggest one-day drop in more than two months as growing doubts over the strength of the global demand recovery along with continued weakness in stocks soured market sentiment.
Shell confirms first gas from Fram field
Production from Shell's Fram gas and condensate field in the UK central North Sea has started up.
Real ‘horsepower’ going into transitional sector deal proposals, industry chief says
Neil Sims is encouraged by the “horsepower” that’s being put behind the sector’s new sector deal application.
‘Serious’ blue hydrogen talks between OGA, Euro supermajor and private equity backed firm
Innovative partnering between oil and gas, renewables, hydrogen and carbon capture can accelerate energy transition, says the UK’s Oil and Gas Authority (OGA).
Concerns UK oil regulator ‘losing balance’ in net-zero push, Neptune chief says
The North Sea oil industry’s old guard is concerned that the sector’s regulator is “losing balance” as a result of its efforts to help government meet net-zero targets, a top boss has claimed.
Updated: EnQuest bosses says recent footprint shrinkage part of ‘natural cycle’
EnQuest bosses said today that the recent shrinking of the firm’s UK North Sea footprint was just part of the “natural cycle”.
WATCH: Ninian Northern loaded onto quay at Lerwick
The operation to load-in the 14,200 tonne Ninian Northern topside at Lerwick Harbour's Dales Voe Base has been completed successfully.
Total gets down to drilling last UKCS exploration well of 2020
Westwood Global Energy reports that as of September 2 there were two exploration wells active in the UK, with one in the central North Sea and one in the northern North Sea. So far in 2020, three exploration wells have completed. There has been no appraisal drilling yet this year.
Fears over looming ‘cliff edge’ for oil and gas sector
The oil and gas industries stand on a cliff edge and could take communities in the north-east with them should they fall, council officials have warned.
Delek considers merger for Ithaca Energy
Israeli firm Delek Group said today it was considering merging its UK North Sea oil business, Ithaca Energy, with an unspecified international energy company.
Ninian Northern arrives at Lerwick for scrapping
The largest offshore structure to date to be decommissioned at Lerwick has arrived in Shetland.
Oil gives up some hurricane-related gains after refiners spared
Oil edged lower -- but was still headed for a fourth weekly gain -- after Hurricane Laura swept through Louisiana and Texas without appearing to inflict major damage on the region’s energy infrastructure.
Updated: Ithaca looks to restart Covid-hit projects, makes staff payouts as 70 leave
Ithaca Energy plunged deep into the red in the first-half of 2020 as the sharp drop in oil prices and staff payouts weighed on the firm’s balance sheet.
Neptune predicts ‘marginal’ rise in exploration spend as Isabella appraisal study begins
Neptune Energy said positive drilling results and further appraisal work on the Isabella discovery would lead to a “marginal” rise in exploration spend this year.
Oil rises with dual storms shutting U.S. Gulf Coast production
Oil rose as production was disrupted by two storms approaching the U.S. Gulf Coast.
Augean enhances decommissioning offering with acquisition of EcoCentre in Peterhead
Augean North Sea Services (ANSS) has bought the EcoCentre in Peterhead to enhance its ability to manage oilfield waste material.
Risk-averse approach to tax reforms could impede oil and gas industry’s recovery
With the UK oil and gas market reeling from COVID-19, it’s clear that the decisions made by businesses in this industry as they focus on a recovery in the coming months need to be strategic, measured and informed.
Oil falls with pandemic-hit economies crimping demand outlook
Oil fell as economic signals out of Europe and Asia flashed warning signs about the rebound in crude consumption.
China readies for record-breaking U.S. oil haul in September
U.S. oil exports to China are set to reach a record next month in a sign that Beijing is stepping up purchases to meet its commitments under a landmark trade deal.
Understanding how crude oil and currency prices are connected
Oil, as the world's most heavily-traded natural resource and the bedrock foundation of some of the planet's largest economies, has always had a strong impact on virtually every area of economics and finance. The global oil trade is estimated to be worth something in the region of around $4 trillion a year in revenues, or about 3.8% of global GDP.
Turkey confronts EU with new energy survey off Cyprus
Turkey has dispatched a drilling ship to an area off the southwestern coast of Cyprus, in a move that could fuel territorial disputes with EU member states in the eastern Mediterranean.
BP rejects Greenpeace accusation of oil spill at North Sea platform
BP has rejected accusations made by Greenpeace that an oil spill occurred at the Andrew platform in the UK North Sea.