SNP lays into Labour for ‘giving up’ on North Sea
Oil exploration will need to be abandoned and huge volumes of black gold left in the ground if the UK is to meet climate change targets, the Labour Party said yesterday.
oil
Energy services group Three60 has no plans to slow down yet
The boss at Three60 Energy said the fast-growing energy services group is still geared towards expansion.
i-Tech and Leidos taking control of digitalisation
“Digitalisation is one of those horrible terms that has been used so much it has become meaningless.”
Rosen plans recruitment drive after Aberdeen office move
A Switzerland-headquartered asset integrity firm has moved into a new base in Aberdeen.
Oil dips as Saudis say OPEC cut still up in the air
Oil gave up some earlier gains after Saudi Arabia’s oil chief indicated OPEC and allied producers have yet to reach consensus on whether supply curbs are in order.
Big oil battles gender problem that may take generations to fix
When Stacey Olson got her first energy job 29 years ago, she was a "company man." That’s what Chevron Corp. called its representative on an oil rig staffed mostly by contractors.
Cromarty Firth scrubs out oil transfer plans
Controversial plans to transfer millions of tonnes of crude oil between tankers at the mouth of the Cromarty Firth - allegedly threatening dolphins and other marine life - have been scrapped.
Oil rides biggest two-day gain since June as fear of glut eases
Oil headed for its biggest two-day advance since June as concerns over a supply glut eased on hopes that OPEC and its allies will strike a deal to stabilize the market.
The Saudi dilemma: To cut or not to cut
To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year's December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse the free fall of oil prices. At the time, it worked because everyone was desperate. Now, many OPEC members are both desperate while not yet recovered from the 2014 blow. Saudi Arabia is not an exception.
Oil is key to transition, but competition for cash is stiffer, OGUK says
The UK oil and gas sector’s ability to attract new investors and employees has waned as people’s attitudes shift, a top industry body said today.
200 MPs call for pension fund to divest fossil fuel investments
More than 200 MPs have called for their pension fund to phase out investments in fossil fuel companies.
BP turning challenge into opportunity west of Shetland
Lessons learned from the first year of Quad 204 production will help BP get its latest west of Shetland mega-project up to full speed, the energy major’s North Sea boss said.
‘North Sea still needs to be nurtured as it makes recovery’
There have been “remarkable successes” for the recovering North Sea this year, but to assume the work is over would be a “mistake”, according to the chief executive of Oil & Gas UK (OGUK).
Saudi leadership of OPEC shaky after Qatar’s surprise exit
Qatar’s “surprise” decision to withdraw from OPEC raises questions about the loyalty of the cartel’s remaining members, analysts said.
Canada’s OPEC-style cut stirs ‘slippery slope’ meddling concerns
While Alberta’s plan to mandate OPEC-style production cuts already is boosting oil prices and shares, the revival of Canada’s resource nationalism adds another layer of risk for investors to consider.
All crew back on Brent Charlie after blackout
Shell has confirmed that all crew returned to the Brent Charlie platform yesterday.
Iran warns oil will slump to $40 if Opec fails to cut production
Oil prices will slump to $40 a barrel unless OPEC and its allies cut output significantly, and the group is unlikely to succeed in reviving the market, an Iranian official said.
Russian oil worker who hid funds in divorce battle ‘in debt and renting flat’
A 67-year-old businessman who five years ago failed to disclose the existence of an offshore bank account containing more than £500,000 during a divorce court fight with his ex-wife has told a judge that he is now in debt and living in a small rented flat.
Taqa hands Petrofac contract extension in North Sea
Oilfield services giant Petrofac has secured a three-year contract extension with Taqa in the UK.
Babcock strikes Australian navy deal
Engineering group Babcock has struck a joint venture deal worth 1.5 billion Australian dollars (£864 million) to provide services to Australia's navy.
Updated: Qatar to withdraw from Opec
The tiny, energy-rich Arab nation of Qatar has announced it will withdraw from Opec.
EnQuest wraps up Magnus acquisition
EnQuest's £230 million acquisition of the remaining 75% interest in the Magnus oil field from BP has been completed.
Oil jumps most since June as Canada cuts after Saudi-Russia pact
Oil was jolted higher by efforts across the globe to support prices as Saudi Arabia and Russia extended their pact to manage the market and Canada’s largest producing province ordered unprecedented output curbs. Prices retreated slightly after Qatar said it was leaving OPEC.
Ink dries on Reabold’s swoop for Rathlin shares
Upstream oil sector investor Reabold Resources has completed its £3 million acquisition of 37% of Rathlin Energy UK.
Oil tycoon shares vision for land of adventure
Oil and gas tycoon Sir Ian Wood has revealed ambitions to transform the north-east as a global adventure destination - and give a boost to key industries such as fishing and hospitality.