Oil trades near 7-month low as US waivers ease shortage fears
Oil held near the lowest level in seven months as concerns over a supply crunch eased after the U.S. granted waivers to eight governments to continue buying some Iranian crude.
oil
Iraq to raise China oil sales by 60%
Iraq aims to supply China with about 60 percent more crude next year, as OPEC’s second-biggest supplier double downs on its main market in Asia, according to the head of the state-run Oil Marketing Co.
Serica Energy in fourth Bruce and Keith acquisition
Oil firm Serica Energy has announced a second deal in two days for stakes in the Bruce and Keith fields in the UK North Sea.
Repsol Sinopec’s business plan fully focused on North Sea
Performance has “never been better” at Repsol Sinopec Resources UK (RSRUK), the joint venture’s chief executive said.
Company’s launch to address changes in IR35 legislation
A new company has been launched in Aberdeen this month in response to the widely expected changes in IR35 legislation for contractors in the private sector.
‘No complacency’ over reduced reportable offshore incidents
We recently published our Health and Safety Report 2018. Our annual report reflects on safety performance in the last year and looks at a range of issues affecting industry.
UK firms told to keep doing business with Iran despite US sanctions
Britain will continue to expand trade relations with Iran despite Donald Trump's decision to re-impose sanctions on the state, Downing Street has said.
Crude decline deepens as US defends temporary Iran oil waivers
Oil extended its decline to a sixth day as the U.S. defended the temporary waivers given to eight nations to keep buying Iranian crude after American sanctions against the OPEC producer snapped back on Monday.
Iranian president warns of ‘war situation’ as sanctions resume
Iran has greeted the re-imposition of US sanctions with air defence drills and an acknowledgement from President Hassan Rouhani that the nation faces a "war situation".
Serica meets conditions for sanctions waiver, buys BHP’s stakes in North Sea duo
Oil firm Serica Energy took another step towards completing a series of UK North Sea acquisitions today.
Recruitment firm Maxwell Drummond resurrected
Oil and gas recruitment entrepreneur Andrew MacDonald has resurrected the name Maxwell Drummond more than two years after the previous business folded.
North Sea getting to grips with decommissioning work
The UK is now “on the road” with decommissioning, and as such costs are slowly but surely becoming more certain, according to the new chief executive of Decom North Sea.
It’s the Iranian oil guessing game. And the bears are winning
Oil sceptics have been proved right in downplaying sanctions against Iran.
Brodies’ oil and gas team sees busy year
Strong deals activity in the North Sea is driving growth for the specialist oil and gas team at Scotland’s largest law firm.
Grant Thornton reports increase in M&A activity
Aberdeen is seeing an increase in mergers and acquisitions activity as confidence returns to the offshore energy sector, according to Grant Thornton.
A US privacy law would be good news for the UK oil and gas sector
The end of October was a busy spell in the world of data protection and privacy law. Facebook was fined £500,000 for data sharing with app developers in a way that wasn't transparent and secure. Morrisons was found liable in a group action raised by employees after a rogue employee stole employee data. However, controversially, the even bigger news was the speech by Apple's Chief Executive Tim Cook, praising the EU's General Data Protection Regulation (GDPR) and called for a US equivalent.
City’s oil wealth has not benefited everyone living there, says council leader
Aberdeen’s massive oil wealth has not been shared equally among the city’s residents, the council’s co-leader admitted yesterday.
US reimposes all Iran sanctions lifted under nuclear deal
The Trump administration has announced the reimposition of all US sanctions on Iran that had been lifted under the 2015 nuclear deal.
Guyana trade mission jets into Aberdeen this month
A trade mission from Guyana will visit Aberdeen later this month to foster business links with north-east oil and gas companies.
Disruption likely as Iran sanctions kick in Monday
Midnight on Sunday will mark a dividing line in the world of oil. Beyond that point, anyone unloading a tanker from Iran risks the full wrath of the U.S. government.
Oil set for worst week since February as supply fears subside
Oil headed for the biggest weekly loss since February as the U.S. softened its crackdown on Iranian exports and American supplies surged, assuaging fears of an impending shortage.
Shell’s North Sea business a ‘source of inspiration’, Brexit not a threat, CFO says
Shell's chief financial officer said today that the firm's UK North Sea division was a "source of inspiration" for the rest of the group.
Oil sinks to six-month low as US supply surge eases Iran fear
Oil fell to the lowest in more than six months on signs U.S. supply is accelerating and on speculation that American sanctions against Iran won’t succeed in reducing exports to zero.
Shell churns out cash like oil’s above $100 again
Oil is trading well below its price of a decade ago, but you’d have no idea looking at Royal Dutch Shell Plc’s giant pile of cash.
Updated: One of ‘strongest-ever quarters’ for Shell as 2nd share buyback tranche launched
Shell's boss said today that the energy major had pulled off one of its "strongest-ever quarters".