Third phase of Mero development off Brazil sanctioned
Total and its partners have taken an investment decision for the third phase of the Mero project offshore Brazil.
oil
Singing and sweets: Covid-19 career changes for former oil sector workers
Going to the supermarket has never been a favourite activity – and particularly during a pandemic.
Venezuela’s fuel shortage set to get worse after refinery halted
Venezuela’s fuel crisis is poised to deteriorate even further after one of its biggest refineries was halted over the weekend following a nearby oil spill.
Drilling firm Archer posts first-half profit despite Covid hit
Drilling services firm Archer made pre-tax profits of £2.3 million in the first half of 2020 despite being hit hard by the Covid-19 pandemic and low oil price.
Whalsay records big impairment on Bentley field amid Covid-hit sales process
Whalsay Energy booked an impairment charge of £52.7 million ($69m) on its Bentley field based on offers it received as part of a Covid-hit sale and farm-out process.
Oil drops with IEA demand outlook pointing to weakness ahead
Oil declined as investors assessed the International Energy Agency’s reduced forecasts for global oil demand in part due to a slowdown in air travel.
UK firm’s $500m oil profit draws senator’s scrutiny
A key Senate Democrat is urging U.S. regulators to conduct a thorough analysis of whether oil markets are susceptible to manipulation following a Bloomberg News report that documented how a small London firm made as much as $500 million when the price of crude went negative in April.
Consolidation on the cards as UK listed oil firm profit warnings spike, EY says
UK listed oil and gas companies recorded more profit warnings in the second quarter of 2020 than in the whole of last year, according to a new report by EY.
CNR falls to loss of £1.14bn, Banff field reaches end of the line
Canadian Natural Resources (CNR) recorded pre-tax losses of £1.14 billion in the first six months of 2020 on the back of lower prices.
Exxon says 20% of oil, gas reserves threatened by low prices
Exxon Mobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the books.
CHC says contract price cuts could impact safety
Helicopter operator CHC has warned that “unsustainable” contract pricing could affect training and development after losing a major deal with oil and gas firm Total.
Semco Maritime in partnership with Kishorn Port awarded yard stay contract by Altera Infrastructure
Semco Maritime Ltd have been awarded a yard stay project with Altera Infrastructure for their FPSO asset Voyageur Spirit to be moored at the West coast of Scotland port facility.
Oil will be ‘engine of value creation’ in BP’s net-zero drive, Looney says
BP’s chief executive Bernard Looney has said oil and gas would be a “smaller, but core part” of the business as it “pivots” to net zero.
BP cuts dividend in half, vows to slash oil production by 40% in 10 years
BP has cut its dividend in half in a bid to free up cash for its push to become an “integrated energy company”.
Brodies posts 10th consecutive year of growth
Scottish law firm Bodies has marked the 10th consecutive year of growth with its latest set of annual accounts.
Smart Basin: A key tool in energy transition
Data is key to good decision making in all sectors of industry and society and the Technology Leadership Board Digital Technology Theme highlights the truly disruptive potential of digital technologies. As we move towards a net zero economy, only through exploiting cross sectoral data can we achieve the potential of digital technologies, thereby aiding a smooth and sustainable energy transition. Combining data from the oil and gas and the renewables sectors with the nascent hydrogen and carbon capture and storage (CCS) industries will provide a platform for the best decision making. At the National Decommissioning Centre (NDC) we are initiating several projects which will help deliver this.
HSE making inquiries after faulty generator causes damage on North Sea platform
The UK’s health and safety watchdog is making “initial inquiries” after a generator overheated on the FPF-1 platform in the central North Sea.
Driller Noble files for bankruptcy to erase huge debt pile
Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.
Neo Energy completes revised UK North Sea deal with Total
Neo Energy, of Aberdeen, has completed the revised acquisition of a package of UK North Sea oil and gas fields from Total.
Start-up aims to ‘anchor’ Aberdeen in geothermal industry
An Aberdeen businessman has set out on a crusade to carve out futures in clean, geothermal energy for “oil and gas assets and people”.
EY beefs up Scottish tax team
Two senior tax professionals have joined the Scottish tax team at EY in the latest announcement of growth and investment by the professional services firm.
North-east firms scoop up funding for decommissioning projects and technologies
A host of north and north-east companies and projects have been given cash injections through the Scottish Government’s decommissioning challenge fund (DCF).
Six-figure boost for budding Fife decommissioning facility
Plans to create an oilfield infrastructure dismantling facility in Fife have been given a six-figure boost by the Scottish Government.
Global network paying off for LOC as group eyes expansion
Global marine and engineering consultancy LOC Group is looking to boost its north-east headcount in an effort to meet demand and secure new opportunities.
Calls for oil-well decommissioning to become ‘skills bridge’ to energy transition
Fast-tracked North Sea decommissioning projects should be used as a “skills bridge” to get hundreds of oil workers over the current job-cuts crisis and into green energy roles, a new report said.