Built by oil’s riches, Houston goes 100% green years earlier
The oil and natural gas capital of the world is going all-in on solar power.
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Oil anchored in mid-$30s while US-China tensions rise
Oil was anchored near $33 a barrel as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand.
UK North Sea to dominate global decommissioning spend over next five years
The UK is poised to lead the way as operators increase spending on North Sea decommissioning work amid low oil prices, according to a new report.
Archer boosted by Taqa decommissioning contract awards
Taqa has picked Archer rig to carry out a 21-well plug and abandonment campaign in the northern sector of the UK North Sea.
Market overreacted to ‘bump in the road’ for Hurricane, analyst says
The shut-in of one of the Lancaster field’s two production wells is a “bump in the road” that didn’t warrant such a large drop in Hurricane Energy shares, an analyst said.
North Sea oil workers could get exemption from UK arrivals quarantine rules
Passengers arriving in the U.K. will be forced into quarantine for two weeks and face fines of 1,000 pounds ($1,217) if they break the rules, under measures set to be announced on Friday.
Ex-oil worker hopes novel approach to finding employment will pay off
When Laura Ripley was suddenly made redundant from her job in the oil and gas industry, she took matters into her own hands.
Oil retreats with doubts over China eating away at weekly gain
Oil retreated from the highest level in more than two months as doubts over the strength of China’s economic recovery and rising tensions between Washington and Beijing ate away at its weekly advance.
Ithaca to pay $20m dividend to Delek as RBL redetermination completed
Ithaca Energy has completed its latest scheduled six-monthly reserves based lending facility redetermination process.
Maersk Supply Service picked for Dunlin decommissioning work
Maersk Supply Service (MSS) has been picked to remove subsea kit from the Dunlin field by operator Fairfield.
Jersey completes deal for North Sea licence
Jersey Oil and Gas has wrapped up the acquisition of a 70% stake in the UK North Sea licence containing the Verbier discovery from Equinor.
UK oil industry facing ‘very tough’ future, new report shows
The “astonishing” changes in the world oil market have left the North Sea industry facing a “very tough” future, a top petroeconomist has warned.
Repeat of US oil’s sub-zero plunge unlikely as June expiry nears
Oil’s historic crash below zero looked increasingly like an aberration as the June contract rose for a fourth day in its last session of trading before expiring.
Oil at two-month high with Chinese demand near pre-virus levels
Oil rose to the highest in two months as demand in China returned to near pre-virus levels and output curbs continued in the U.S. and elsewhere.
Tullow hits pause in Kenya
Tullow Oil has declared force majeure at its site in northern Kenya, putting plans to sanction the project this year in jeopardy.
Sasol may add pipeline and Qatar plant to disposal plan
Sasol Ltd. is considering additional divestments, including the potential sale of stakes in an African gas pipeline and a Middle Eastern plant, as it explores ways to reduce its $10 billion debt pile, people with knowledge of the matter said.
UK oil industry deserves ‘pat on back’ for keeping crude flowing, Premier boss says
Premier Oil’s boss says the UK oil industry deserves a “pat on the back” for keeping production flowing during the Covid-19 lockdown.
Premier Oil to ‘re-engage’ with stakeholders over transactions
Premier Oil said today it is “re-engaging” with stakeholders about its proposed North Sea acquisitions and extensions to debt maturities in light of current market conditions.
Oil prices higher as additional output cuts agreed
The FTSE 100 Index edged up towards the 6,000 mark today as traders took heart from UK Government efforts to gradually get the economy back on track.
Redundancy for ad hoc caterers as work dries up offshore
Catering firm Entier is making "ad hoc" offshore staff members redundant due to a “significant reduction” in demand for its services on oil rigs.
Unions to resist ‘crazy’ plan to scrap key North Sea workforce deal
Trade union bosses have vowed to “resist” oil and gas service companies’ “crazy” plans to scrap a UK North Sea collective bargaining agreement.
UK maintenance spending to reach lowest on record, Rystad says
Western Europe’s maintenance, modification and operations (MMO) market will likely take a major hit in 2020 a Rystad Energy impact analysis has revealed, thanks to severe spending cuts and Covid-19 transportation restrictions. Spending in Norway is expected to fall to $3.4 billion this year – an 18-year low – while UK spending is on track to fall to $2.9 billion, the lowest level seen since at least 1990.
Offshore survival training firm to cut UK workforce by more than a third
Offshore safety training provider RelyOn Nutec could cuts its UK headcount by more than a third due to a drop in demand.
COVID-19 and the new normal; radical technology to achieve net zero
There is a certain irony in the coincidence of two recent major events that together, focused minds on how exactly the huge upheavals caused by COVID-19 may affect our efforts to achieve net zero carbon.
Oil edges lower after weekly gain as investors mull recovery
Oil edged lower after posting its first back-to-back weekly gain since February as investors weighed nascent signs of a recovery in demand against a huge global glut and the risk of a resurgence in virus cases.