Updated: BP selling £475m worth of North Sea assets to Premier Oil
Energy giant BP has struck a deal to sell £475 million worth of North Sea assets to Premier Oil.
oil
Updated: Creditor vigorously opposes Premier’s plans to extend debt maturity and acquire assets from BP, Dana
Premier Oil's largest creditor has vowed to contest the firm's plans to extend debt maturities and acquire North Sea assets from BP and Dana Petroleum.
Big Oil is not the problem, it’s the solution
The turn of the year means boardroom leaders are planning – as well as playing soothsayer – for what’s next in 2020 and beyond.
Tackling taxation issues
With the festive season over, the start of a new year gives employers an ideal opportunity for a spring clean of their compliance processes and to identify any tax planning opportunities.
Sunrise or sunset for the North Sea?
While the UKCS may be regarded as a more mature basin than those in other parts of the world, that doesn’t mean that it is standing still or slowing down.
Updated: Oil flirts with $70 as Middle East crisis deepens fear of supply disruption
Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the U.S. assassinated one of Iran’s most powerful generals.
Is better collaboration the new force for change in oil and gas?
Current market conditions are making oil and gas operators understandably cautious about embarking on mega projects. When they do invest, shorter term payback options such as brownfield developments are generally favoured over longer-term, large-budget greenfield projects.
Oil and gas recovery boosts Angus firm RMEC
An Angus oilfield services firm has more than doubled its workforce in the past two years as the oil and gas market has recovered.
Consultancy Genesis says margins remain under pressure amid stiff competition
A global oil and gas consultancy with a base in north-east Scotland has blamed stiff competition for a near doubling of its pre-tax losses.
Plan, prepare and pre-empt: Watchwords for 2020
The new year always brings into focus those things which have been delayed or ignored over the last twelve months. In a corporate setting this can be damaging to a business and in the oil and gas industry, it could have significant compliance issues. With that in mind, there are some key areas oil and gas businesses should turn their attention to, to be fully prepared for entering 2020.
Oil poised for best year since 2016 as Middle East risks flare
Oil is poised for the biggest yearly gain since 2016 as fresh geopolitical tensions erupted in the Middle East and as U.S. crude stockpiles are forecast to extend declines.
Making a positive impact today and tomorrow
Things can rarely be seen in only black and white.
RSM’s 2020 oil and gas forecast: IR35, skills gaps and cautious optimism
Optimism with reservation
Oil holds near three-month high as US crude stockpiles shrink
Oil held gains near the highest close in over three months after U.S. crude stockpiles declined more than expected.
Wintershall Dea among 2020 IPO candidates as Europe hopes for revival
Equity capital markets bankers won’t be sad to close the door on a miserable 2019 in Europe. Though some of the elements that made for a volatile environment for initial public offerings are still in play, there is reason to hope 2020 will bring fairer weather.
Contrasting fortunes for North Sea duo after market updates
North Sea exploration and production companies Serica Energy and Independent Oil and Gas had contrasting fortunes on the London Stock Exchange yesterday after providing market updates.
Kemp urges new policies as report lays bare extent of North Sea’s oil price sensitivity
A prominent petroleum economist is urging government to introduce policies paving the way for the delivery of more UK North Sea oil.
Further analysis needed to firm up Harvey-Redwell potential, IOG says
Independent Oil and Gas (IOG) will carry out further analysis and modelling to work out whether its Redwell and Harvey assets in the southern North Sea are worth developing.
Emergency declared at Sumburgh Airport after helicopter caught up in lightning strike
An emergency was declared earlier today at Sumburgh Airport after a helicopter taking off was caught up in a lightning storm.
One-Dyas confirms oil discovery in southern North Sea
Dutch firm One-Dyas has confirmed an oil discovery with its Ossian-Darach well in the southern North Sea.
Hibiscus completes acquisition of Crown discovery
Malaysian oil firm Hibiscus Petroleum has completed the acquisition of the Crown discovery in the North Sea for a fee which could rise to £4 million.
Concern for Aberdeen as Apache confirms redundancy plans
A US oil firm with a large North Sea operation has confirmed plans to reduce its global headcount by 10-15%.
Big E&P spending still needed, but fields with break-even above $60 are priced out
Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and sanctioning are still needed to meet growing global demand.
The North Sea: A bright future for those who embrace it
John F Kennedy once said: “Change is the law of life. And those who look only to the past or present are certain to miss the future.”
Equinor makes it a trio of UK North Sea start-ups for 2019
Norwegian energy major Equinor has started up production from its 2 million barrel Barnacle field in the UK North Sea.