Flimsy procedures to blame for leaks, watchdog says
Weaknesses in procedures aimed at preventing major North Sea gas leaks have been identified in a review by the UK Health and Safety Executive (HSE).
oil
Siccar Point adds clout with beefed up lending facility
Siccar Point Energy has beefed up its financial clout with ahead of what promises to be a busy 2019 for the North Sea oil firm.
Oil looking for bottom, but expect it to stabilise in $60-70 range
The Opec+ deal to curb production to the tune of 1.2m b/d over the coming months has helped stabilise and potentially create a floor in crude oil. However, while the supply outlook has steadied and created some support this week, the market remains worried about the ongoing trade war between the US and China and its potential negative impact on growth and demand into 2019.
Oil holds gains on record gasoline exports, trade-war optimism
Oil prices bobbed higher Wednesday as American gasoline exports surged and trade tensions showed signs of easing between the U.S. and China.
Updated: DNO calls Faroe offer ‘rare opportunity to exit illiquid’ company
Norwegian firm DNO has taken yet another dig at the Aberdeen oil firm it is trying to acquire.
i3 Energy says North Sea licence holds 500m barrels
North Sea firm i3 Energy said today that its flagship licence in the outer Moray Firth could contain 500 million of stock tank barrels of oil.
Updated: Chevron gets the nod for ground-breaking North Sea project
Oil giant Chevron will forge ahead with a pioneering scheme on a North Sea field it is attempting to offload.
Ithaca completes £228m Greater Stella acquisitions
Ithaca Energy has completed its acquisitions of stakes in the Greater Stella Area from Petrofac and Dyas.
DeltaTek strengthens team with key appointment
Fledgling well construction firm DeltaTek Global has strengthened its ranks with a key appointment.
Oil rises as supplies reduced by OPEC, Libya field halt
Oil rose on renewed optimism that production cuts announced by the OPEC+ coalition will rebalance the market, while a giant Libyan field remained shut and U.S. inventories were estimated to have shrunk.
Echo chief executive steps aside
South-America-focused Echo Energy said today that its chief executive would be stepping down from the role at the end of the year.
US shale becomes oil industry’s safe haven as prices languish
Big Oil is investing more in U.S. shale, not less, after the recent tumble in crude prices.
Corallian raises £1m for North Sea appraisal well
Corallian Energy has raised almost £1 million to help pay for the Curlew-A appraisal well.
Oil holds drop on doubts over OPEC curbs and US supply threat
Oil held its biggest loss in two weeks as uncertainty over how the OPEC+ coalition will implement its output cuts and the prospect of surging U.S. supplies kept investors wary.
North Sea oil field reawakened seven years after leak
An oil field in the central North Sea has resumed production seven years after a leak forced its shutdown.
OPEC+ cuts branded a ‘fudge’ by analyst
Production cuts of 1.2 million barrels a day agreed by Opec and its allies fall short of what was needed to rebalance the market, an analyst has said.
McDonnell pledges his help for industry
Shadow Chancellor John McDonnell yesterday said he would produce a tax regime that supports the oil and gas industry if Labour wins power at a general election.
FTSE 100 boosted by oil price rise after ‘dreadful’ week
Top-flight stocks in London were boosted by rising oil prices in Friday trading, but observers said a recovery could not make up for the "dreadful" week on the markets.
SNP accused of ‘climate hypocrisy’ over North Sea support
Environmental campaigners have accused the SNP of “climate hypocrisy” after an Aberdeen MP backed new tax breaks for the North Sea oil industry.
All eyes on Vienna – OPEC+ must cut 1.5m barrels or wave goodbye to recovery
OPEC and its allies must cut oil production by 1.5 million barrels per day next year if they want crude prices to surge above $70 again, an analyst said today.
DNO questions wisdom of Faroe’s swap deal with Equinor
A Norwegian oil firm has raised concerns about an asset swap deal agreed by the Aberdeen company it is attempting to take over.
McDonnell pledges help for industry
Shadow Chancellor John McDonnell yesterday said he would produce a tax regime that supports the oil and gas industry if Labour wins power at a general election.
Updated: Apache turns Garten from discovery into producer in eight months
US oil firm Apache Corporation said late last night that the Garten well in the UK North Sea had started producing oil.
Updated: Equinor, Faroe rebalance portfolios with asset swap
Energy giant Equinor and Aberdeen-headquartered Faroe Petroleum have agreed to swap stakes several oil fields in Norway.
EnQuest targets 20% production boost in 2019
UK oil firm EnQuest said today that it expected to increase production by 20% next year.