Updated: HSE cautions COSL over 25-tonne lifting frame drop
Rig contractor COSL has been ordered to improve its safety measures after a 25-tonne lifting frame was dropped on its Pioneer vessel.
oil
Russian oil braced for biggest tax overhaul in 20 years
Russia, one of the world’s top three crude producers, is preparing the most radical shakeup of its oil-tax system since 1999.
Verbier delay a setback for Jersey, but not a major blow, analyst says
Norwegian oil giant Equinor’s decision to delay an appraisal well on a North Sea field is only a minor setback for project partner Jersey Oil and Gas, an analyst has said.
Conoco carries on exploring despite North Sea sell-off speculation
US oil major ConocoPhillips confirmed yesterday that it was exploring in the North Sea at a time when doubts are being cast on its desire to stay in the region long term.
European oil majors outperforming peers for greenfield approvals, Rystad says
European oil major’s BP, Eni and Shell are outperforming their peers amid a wave of new project approvals in the recent downturn, analysts have said.
Total restarts North Sea production after worker strikes
Production was due to restart on three North Sea platforms yesterday after workers’ strikes ground them to a halt on Monday.
Big oil is raking in cash so investors are asking: Now what?
The dark storm clouds that have been hanging over the oil industry during the crude-price slump have suddenly started raining cash.
Oil trades near one-month low as trade row risks hurting demand
Oil traded near the lowest level in a month as concerns that economic turmoil could slow global demand outweighed expectations for a seasonal decline in U.S. crude stockpiles.
Updated: Jersey shares sink as Verbier well nudged down the pecking order
North Sea exploration and production firm Jersey Oil and Gas said today that the drilling of an appraisal well on the Verbier discovery had been delayed.
Oil downturn leaves pizza place in bad Nick
TV chef Nick Nairn has closed his Aberdeen pizza restaurant with immediate effect, insisting it was “simply not viable” after the slump in the oil and gas industry.
Updated: Wren House confirms deal to buy North Sea Midstream Partners
Infrastructure fund Wren House has confirmed that it will buy an oil and gas pipeline firm with offices in Aberdeen.
Trump’s war of words with Iran shines spotlight on vital oil route
The war of words between U.S. President Donald Trump and his counterpart in Iran over oil exports and sanctions is shining a spotlight on the narrow, twisting conduit for about 30 percent of the world’s seaborne-traded crude.
Tonnes of oil to be drained from stranded ship
Tonnes of oil is to be removed from a cargo ship which ran aground in the Pentland Firth.
Halliburton reports strong second quarter profit
Halliburton Co. reported strong second quarter profits as rising crude oil prices continued to boost drilling activity in West Texas and elsewhere, driving higher demand for hydraulic fracturing equipment and other oil field technology.
Oil holds as trade fears weighed against US rigs and rhetoric
Oil traded near $68 a barrel as investors assessed the impact of escalating trade frictions between the world’s two biggest economies against a decreasing number of American oil rigs and rising rhetoric between the U.S. and Iranian presidents.
Premier Oil keeping tabs on North Sea acquisition opportunities
Premier Oil’s boss said yesterday that the company was in “good shape” to compete for North Sea acquisitions as its finances improve.
OPINION: What on earth is going on with Ninian’s lifeboats?
I’m baffled at the news that operator CNR has been forced to evacuate approaching half the personnel from one of its Ninian field platforms because of lifeboat-related issues.
Oil rattled by trade war sets price on course for weekly slump
Oil is poised for the biggest weekly loss in almost five months after escalating trade tensions between the U.S. and China rattled investors while Libya’s plans to boost output allayed some fears of a supply crunch.
Kvaerner wins another £45m worth of work on Njord platform
Norwegian engineering and construction firm Kvaerner will carry out another £45 million pounds worth of work on Equinor's Njord A platform.
OPEC output may be stretched to limit by supply crises, IEA says
OPEC’s Gulf members may need to pump almost as much crude as they can to cover swelling supply losses from Venezuela to Iran and beyond, the International Energy Agency said.
Premier Oil completes pipeline sale, board sanctions Tolmount
Premier Oil said today that it had completed the £17.3 million sale of its 30% stake in a North Sea pipeline system.
Oil falls as US ramps up China trade war with new $200bn list
Oil fell below $74 a barrel after U.S. President Donald Trump raised the stakes in the trade war against China with the biggest list yet of goods it may hit with higher tariffs.
Workers taken off North Sea rig due to lack of lifeboats
Canadian oil firm CNR International said late last night that it was taking almost 60 people off one of its North Sea rigs due to a "potential lifeboat capacity issue".
M&A activity to provide ‘litmus test’ for North Sea’s health, tax expert says
The pace of mergers and acquisitions (M&A) activity will provide the “litmus test” for the UK North Sea’s health in the coming years, a tax expert has said.
Industry ready to usher in new era of exploration, OGUK says
North Sea industry has shown it is "fit and ready" to ramp up levels of exploration drilling, an industry expert said today.