Efficiency drive giving companies more decom bang for their buck, report says
Companies are decommissioning more efficiently in the UK continental shelf (UKCS), allowing them to carry out more work for the same amount of investment.
oil
Are you ready for IR35 – the new rules of ‘the game’?
Based on the current approach the answer is no. Throw in a deferred budget and an election to make it extra interesting and confusing.
Neptune eyes 110,000 barrels per day boost from new projects
New projects will raise production at private-equity-backed Neptune Energy by 110,000 barrels of oil equivalent (boe) per day in the next two years.
Hibiscus opts to develop North Sea cluster with FPSO
Malaysian firm Hibiscus Petroleum has opted to use a floating production, storage and offloading vessel (FPSO) to develop a number of assets in the UK North Sea.
Labour’s oil tax plans: ‘Quite misguided’ and ‘the worst possible signal’
A prominent petro-economist has labelled the Labour Party’s plans to impose an £11 billion “windfall tax” on the oil and gas industry “misguided”.
Labour accused of ‘taxing Aberdeen’ after committing to £11bn oil and gas charge
Jeremy Corbyn has been accused of endangering the future of the oil and gas industry and imposing a “tax on Aberdeen” after Labour unveiled plans to charge the sector £11billion to “pay the cost of the climate emergency”.
Work to start on multi-million-pound project to prepare Fife yard for decommissioning
Construction is expected to start next month on a multi-million pound project to prepare a yard in Fife for handling North Sea decommissioning jobs.
Labour’s windfall tax on oil a bad call
I’m hopping mad at Labour’s £11billion windfall tax on the oil and gas industry proposal in its manifesto.
EnQuest predicts production jump despite North Sea shutdowns
Oil firm EnQuest said today that production should grow by about a fifth this year despite having to shut down two of its North Sea fields.
EnQuest’s Thistle platform to undergo repairs early next year
A North Sea platform that had to be evacuated following a subsea inspection will undergo repair work early next year.
Private capital from afar to play greater role in North Sea growth as sentiment darkens
The UK North Sea will welcome more cash from overseas to bridge the gap left by traditional investors who are turning their backs on oil and gas, a new report said.
More supply chain bankruptcies on the cards if the ‘squeeze’ continues, report says
More oilfield service companies could go to the wall if operators continue to “squeeze” the supply chain financially, PwC and OGUK’s report said.
North Sea can be energy transition front-runner, report says
The UK North Sea has the tools to be a front-runner in the energy transition, a new report said.
OECD’s revolutionary tax changes could impact oil firms
The OECD’s 2019 workplan on addressing the tax challenges of the digitalised economy looks set to be a major overhaul of the international taxation system.
Watch: Shell’s Brent Bravo loaded onto quay ahead of dismantling
Engineering firm ALE has published impressive footage of Shell's Brent Bravo platform being loaded onto the quayside at a yard in Teesside ahead of dismantling.
Majors’ global selling spree could fetch $27.5 billion
Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total $27.5 billion, according to Rystad Energy’s latest assessment.
North Sea’s ‘King Midas’ focused on driving Parkmead up the value curve
Energy firm Parkmead Group will inevitably show up on the radars of prospective buyers if its current growth trajectory continues, its boss said yesterday.
‘Unfinished business’ brings North Sea oil boss back to the basin
North Sea oil and gas veteran Graham Stewart said yesterday a sense of “unfinished business” spurred his decision to launch a new, acquisition-hungry player.
Joy for Premier Oil as near-perfect Catcher pays for itself
Premier Oil said today that its investment in the Catcher project had already been covered by production from the field.
Former Faroe chief launches new North Sea oil firm, plans to raise £10m
A North Sea oil and gas executive who led Faroe Petroleum before the Aberdeen-based firm fell to a hostile takeover has set up a new company.
Oil falls for a third day after Trump dampens trade-deal optimism
Oil fell for a third day as President Donald Trump failed to provide any fresh details on trade negotiations with China, disappointing investors who had been hoping for some progress toward a limited deal.
Boss Thomas says Ithaca ‘raring to go’ after Chevron acquisition
Ithaca Energy’s boss said yesterday that the enlarged company was “raring to go” after completing the £1.6 billion acquisition of US firm Chevron’s UK North Sea business.
Awilco challenges £7.7m tax bill from HMRC
Rig contractor Awilco Drilling said today that it had appealed against the UK taxman’s decision to slap it with a £7.7 million bill.
UK billionaire pulls insider-trading case against oil exec
An investment firm controlled by British billionaire Michael Spencer reached an 11th-hour settlement with an oil executive and his wife in a case that saw insider-trading accusations fly and the threat of a private prosecution.
North Sea pipeline owner Kellas sold to Blackrock, GIC
Private-equity firm Antin Infrastructure Partners has agreed to sell North Sea pipeline and terminal owner Kellas Midstream, headquartered in Aberdeen.