Record production sends profits up 40% at Equinor
Record production and higher oil and gas prices steered Equinor to a 40% increase in profits last year.
oil
BP doubles profits in year remembered for Clair Ridge first oil
Profits more than doubled at oil giant BP in 2018, a year marked by the start-up of a major project west of Shetland.
BP transformed to ‘oil-market darling’, analyst says
BP's strong financial performance in 2018 has cemented its transformation from "oil-market villain to darling", an analyst said today.
Higher fleet use helps Prosafe narrow losses
Offshore accommodation provider Prosafe narrowed its losses in 2018 as utilisation picked up.
Updated: Earnings more than double at ‘reliable’ BP as major projects come alive
Better "reliability" and the start-up of several major projects helped oil giant BP more than doubled its earnings last year.
Calls for ‘urgent, but phased’ oil sector deal approach
A key player behind the oil and gas sector deal yesterday called for more “urgency” in implementing the proposals.
EnQuest forecasts 20% production jump in 2019 despite Kraken glitches
EnQuest today reported a near-50% increase in production across the group last year, and predicted a 20% jump in 2019.
Liberty handed multi-million pound North Sea pipeline deal
A leading steel firm has announced the award of a multimillion-pound contract to supply a pipeline for North Sea gas.
Sector deal needed to protect north-east’s world-leading status, inquiry says
An “ambitious” oil and gas sector deal will be crucial to protect the north-east’s status as a global energy powerhouse, a new report said.
Private equity is ‘force for good’, says Verus boss
The oil and gas industry needs to ditch negative perceptions of private equity (PE) and get to grips with reality, a top North Sea executive said.
Further setback for Hurricane’s Lancaster hook-up
Hurricane Energy has suffered another setback in its efforts to start production from the Lancaster field.
New staff on horizon as DeltaTek continues to expand
Bosses at DeltaTek Global are targeting “aggressive growth” in the wake of a year of breakthroughs for the Dyce-based well construction pioneer.
DNO ready for compulsory purchase of remaining Faroe shares
Norwegian oil and gas operator DNO said today that it can initiate the compulsory acquisition of the remaining shares in Faroe Petroleum.
‘Long overdue’ recovery in global exploration, Woodmac says
After a difficult few years, the exploration sector is back in the black – and keen to stay there. New analysis from Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this year.
Union bosses accuse Prosafe of ‘appalling social dumping’
Union bosses have accused offshore accommodation provider Prosafe of perpetrating one of the most “appalling examples of social dumping” ever seen.
Government scheme helps 4,000 unemployed oil workers
A multi-million pound fund created to get unemployed oil and gas workers back into the world of work by using the skills they developed in the industry has helped 4,000 people.
Total’s sale of Laggan-Tormore stake ‘expected this week’, report says
French oil major Total is reportedly close to selling a stake in the Laggan-Tormore project west of Shetland to private equity firms.
Shell targeting growth in North Sea business
Shell remains firmly focused on beefing up its UK North Sea business in spite of recent oil price volatility, the energy giant’s boss said yesterday.
North Sea acquisition talks between Ineos, ConocoPhillips break down
Ineos' bid to acquire ConocoPhillips' North Sea portfolio appears to have fallen through.
Cluff’s talks with major oil company go into extra time
Cluff Natural Resources (CLNR) has gone into extra time in its bid to secure a partner for its Pensacola prospect in the southern North Sea.
Updated: Shell ‘delivering on promises’ as earnings soar 36%
Shell’s boss said today that the energy giant had “delivered on its promises” for 2018 after completing its divestment programme and keeping a lid on capital investment.
Talon Petroleum clinches second North Sea acquisition
Australian firm Talon Petroleum has struck a deal to buy EnCounter Oil, more than doubling the size of its North Sea portfolio.
OGA eyes more ‘area plan’ success with Buchan licensing round
North Sea acreage containing up to 300 million barrels of oil has been put up for grabs.
Buchan area plan viable without new platform, analyst says
More oil could be pumped from the Greater Buchan Area (GBA) without the costly installation of a new platform or floating production facility, an analyst said.
Oil holds advance on trade-talk optimism and Venezuelan crisis
Oil held its biggest gain in more than a week as investors assessed the impact of U.S. sanctions against Venezuela, while waiting for the outcome of trade talks between Washington and Beijing.