Aberdeen oil man gets three years in prison for bribery
An Aberdeen oil chief convicted of paying £400,000 in bribes to win contacts in war-torn Iraq has been sentenced to three years in prison.
oil
Let’s use oil rig museum as platform to re-invent Aberdeen
As someone who has previously run for parliament, allow me to attempt a typical politician’s response. Converting a redundant oil platform into a major Aberdeen tourist attraction is a great idea which I support. Or, then again, perhaps not. It’s definitely one of the two. There: that’s my bases covered.
Apache deep in the red as impairments hit hard
Apache recorded pre-tax losses of £3.8 billion in the first half of 2020 as the firm creaked under the weight of lower oil and gas prices.
Total maintains dividend despite net losses of £6.5bn, celebrates major oil discovery off Suriname
French energy giant Total this morning announced first-half net losses of £6.5 billion, but provided some cheer by maintaining its dividend and celebrating a major discovery off Suriname.
Prosafe says switching office will ‘refresh and reinvigorate’ Aberdeen business
Bosses at Prosafe are hoping an office move will “refresh and reinvigorate” the firm’s Aberdeen operations at a time when the oil and gas industry is at an “all-time low”.
Aberdeen oil tourism plan could be ‘resurrected’ with new rig concept, says business leader
Plans for a major Aberdeen oil tourism site from over 30 years ago could be "resurrected" by a new rig idea for the harbour, according to a business leader.
BP fined £7,000 for crude oil leak
A major oil firm has been fined £7,000 after 95 tonnes of crude oil leaked into the sea.
UK Government ‘looking at’ oil and gas sector deal, Michael Gove says
Michael Gove has reiterated the UK Government’s consideration of a north-east oil and gas sector deal and confirmed he is exploring support for the city’s hydrogen project.
Oil steady with US-China tension offset by signs virus easing
Oil was steady after a weekly gain as investors weighed worsening relations between Washington and Beijing and the prospect of more supply against a weakening dollar and signs the virus is easing in the U.S.
Taqa hands in decommissioning plans for two North Sea platforms
Oil and gas firm Taqa has handed in decommissioning plans for two of its northern North Sea platforms to the UK Government.
Equinor plunges into the red as CEO warns of persistent Covid-19 ‘uncertainty’
Norwegian energy giant Equinor warned of the continued considerable "uncertainty" caused by Covid-19 as it plunged into the red in the first-half of 2020.
The oil market continues its cautious rally but more uncertainty lies ahead
For the oil markets, the first half of the year saw extraordinary swings in supply and demand, culminating in what is now thought to have been a staggering 22mbbpd of oversupply in April as OECD economies headed into lockdown and OPEC+ cuts dissolved. Demand fell to 78mmbpd and Saudi Arabia pumped an additional 1.6mmbpd, driving Brent down to under $10/bbl on April 21st and briefly pushing the WTI futures contract into negative territory.
Encouragement as Apache plans new production well in Forties area
New plans to extend the life of a UK North Sea field were last night hailed as a potential boost for the oil and gas industry at a difficult time.
Decommissioning firm making headway in quest to bring rigs to Fife
A new oil infrastructure decommissioning facility in Fife will be ready for action by the fourth quarter of 2020, as key licences fall into place.
EnQuest removes Thistle platform tanks, reported ‘minor’ spill
EnQuest said today it had removed the troublesome oil storage tanks from the jacket of its Thistle platform in the UK northern North Sea.
Baker Hughes slumps to pre-tax loss of £13bn in first half
US energy service firm Baker Hughes slumped to pre-tax losses of £13 billion ($16.5bn) in the first half of 2020, highlighting the severe impact of the Covid-19 pandemic and crude price drop.
Brent hits four-month high as hopes of economic recovery rise
Oil climbed to the highest level since early March in London as hopes for an economic recovery from the coronavirus crisis lifted financial markets.
Decom North Sea board appointments bring fresh eye and vast experience
Decom North Sea (DNS) has announced the appointment of two new board members as it continues to implement a strategy of restructure and refocus.
‘Milestone’ reached in Premier-BP North Sea deal
Premier Oil has reached another “important milestone” in completing the revised acquisition of BP’s stakes in two UK North Sea fields.
Neil Gordon: Let’s have some serious conversations about value
In between the Teams and Zoom calls, which now fill our days, and the odd webinar or two, it’s becoming increasingly evident that the oil and gas industry needs to have some serious conversations about value.
Tanker ‘hijacked’ off UAE now in Iran, says UN agency
A US-sought oil tanker "hijacked" off the coast of the United Arab Emirates after allegedly smuggling Iranian crude oil is back in Iranian waters, a United Nations agency said.
Ocean Infinity wraps up project offshore Guyana
Ocean Infinity, the world-leading marine robotics company, is pleased to announce it has successfully completed its recent project for ExxonMobil, within the Stabroek block offshore Guyana.
Boss says Premier to make cash in 2020 at current oil prices, supply chain ‘gouging’ not right
Premier Oil can keep making money and paying off its debts in 2020 with crude prices at recent levels, its chief executive said.
Opec+ chiefs insist easing of oil output cuts will ‘barely’ be felt
Oil markets will “barely feel” the impact of additional production by Opec and its allies as demand ramps up across the world, Saudi Arabia’s energy minister said on Wednesday.
Trump claims he ‘created’ the Texas oil industry
President Donald Trump on Monday downplayed “phony polls” showing a tight presidential race in Texas, saying he’s way ahead because he “saved the oil industry,” and later adding, “I created it.”