Glengorm shows ‘still life in more mature UK waters’
Chinese, French and Italian energy firms are celebrating the biggest gas find in the UK North Sea in more than a decade.
oil
Shortages: The oil shock that never was
Three years ago, influential figures in the oil industry were sounding a clear warning: prices were too low, investment was collapsing and by the end of the decade the world would face a shortage.
Living longer in the North Sea – modern innovations for mature assets
The past year has marked a significant milestone in the North Sea’s history, with one of the world’s largest oil producers, Shell, celebrating 50 years of North Sea production and predicting a positive outlook for the next 50. This renewed positivity and optimism has been reaffirmed recently with the likes of Gannet E coming back online, Buzzard restarting output and production from new fields, including Garten and Clair.
Updated: Cnooc makes 250m barrel oil discovery at Glengorm
Chinese oil company Cnooc today announced a new discovery in the UK central North Sea.
Glengorm the biggest UK gas find since Culzean, Woodmac says
Chinese energy firm Cnooc's discovery at Glengorm is the largest gas find in the UK since Culzean in 2008, an analyst has said.
CATS Management lets new name out of the bag
Energy infrastructure company CATS Management has changed its name to Kellas Midstream.
From redundancy to far-flung family fun for oil worker
Could you put everything on hold and travel the world with your kith and kin along for the ride? The Mennie family did just that and told Ellie House about the adventures along the way
Oil firms committed to covering their share of decom costs
Oil companies will pay their fair share of the multi-billion pound UK North Sea decommissioning bill, a trade body has said.
Huge backlog could trigger new wave of shale oil
The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow.
Acid test for North Sea cost cutting crusade, DNV GL poll says
The resilience of North Sea industry’s recent cost cutting crusade faces an acid test in 2019, a new survey shows.
‘Cost increases must be balanced by efficiency gains’
Supply chain cost inflation must be balanced by continued efficiency gains if North Sea industry is to remain competitive, a boss at DNV GL − Oil and Gas said.
Fears grow as oil skills ’emergency’ looms, survey says
Nearly half of oil and gas professionals are worried about an "impending talent emergency", a new employment trends poll shows.
ONE, SDI to help supply chain expand overseas
Opportunity North East (One) and Scottish Development International (SDI) are joining forces to help oil, gas and energy supply chain companies expand overseas.
Orlando to come on stream before end of March
First oil from the Orlando field in the North Sea should be achieved before the end of March, a former project partner said.
Tough task for dealmakers in ‘sluggish’ upstream market, Woodmac says
Volatile oil prices are hindering global M&A deals by creating uncertainty, widening the asset valuation gap between buyer and seller, and making companies re-think their strategies, analysts said.
Hurricane hits snag during Lancaster hook-up job
Oil firm Hurricane Energy's efforts to start production from its Lancaster field have suffered a setback.
Oil gloom lifts as China and US find way forward
Investors are the most optimistic on oil in two months as the worst fears that roiled markets at the end of the year start to dissipate.
Oil demand to strengthen despite economic slowdown, IEA says
Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency.
Opec cuts send oil on its way to third weekly increase
Oil headed for a third weekly increase on expectations that production cuts by OPEC and resilient fuel demand will keep global markets in balance.
2019: Diversify or disappear for energy, utilities and resources?
In 2019 energy and utility companies face the challenges of an industry rapidly diversifying, decentralising and digitising.
Russia to speed up output cuts as Saudis lament pace
Russia is aiming to accelerate the pace of oil production cuts after its reductions drew criticism from Saudi Arabia.
Time to deliver a workable Brexit deal, energy chiefs say
Energy sector chiefs have urged all parties and governments to deliver a workable Brexit agreement as deliberations entered “unchartered territory”.
Abubakar to divest Nigeria’s ‘mafia’ oil firm if he wins
Nigeria’s main opposition presidential candidate, Atiku Abubakar, said he’ll sell the state oil company, which he called a “mafia organization,” and attract private investors to drive economic growth and create jobs if he wins office next month.
Serica ‘in different league’ as it opens new Aberdeen facility
Serica Energy's chief executive said the company has been elevated to a “different league” as its new Aberdeen office formally opens today.
Exclusive: Repsol Sinopec not budging on three week rotas
North Sea oil firm Repsol Sinopec Resources UK (RSRUK) has opted to stick with three week offshore rotas on its platforms after concluding a review.