Updated: Oil set for worst week in a year
Oil was headed for its worst week in almost a year as the global risk-asset rout troubled investors already concerned over growing U.S. supply.
oil
Subsea 2018: Boskalis gets to work on UK North Sea expansion drive
Dutch firm Boskalis has opened a bigger office and brought in a new dive support vessel as part of a UK North Sea expansion drive.
Maersk Oil profits soar ahead of Total takeover
Maersk Oil more than doubled its profits ahead of its takeover by French energy giant Total.
Malaysian duo target 1million barrels from North Sea well
More than 1million additional barrels of oil are expected to be unlocked through a sidetrack well in the central North Sea later this year.
Subsea 2018: Sector deal worth up to £1trillion to oil industry by 2035
A landmark “sector deal” would be worth a massive £1trillion to UK oil and gas companies over the next 17 years, an industry chief said yesterday.
Subsea 2018: Nexen boss says operators squeezed supply chain ‘too hard’
A boss at a UK North Sea oil producer said yesterday that operators have squeezed the supply chain “too hard” during the downturn.
Oil prices ravaged by financial turmoil
Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market.
First decommissioning contract for port hailed
The first North Sea decommissioning contract to be secured by the Port of Cromarty Firth (PCF) has been hailed as a “tremendous boost for local companies and workers” by the organisation’s chief executive.
Subsea 2018: Market ‘tough’ for supply chain despite positive start to year
A North Sea industry chief has said 2018 would still be tough for UK subsea service companies, despite a positive start to the year.
Exclusive: BP spurred on by ‘positive momentum’ in quest to double North Sea output
BP’s North Sea boss said yesterday that the business has got “positive momentum” in its quest to meet ambitious production targets.
Parkmead takes full ownership of key North Sea fields
Aberdeen oil firm Parkmead has struck a deal to take full ownership of two central North Sea fields.
Looking to get into the Spirit of things?
Spirit Energy has arrived at the ball and is looking for someone new to hook up with.
Babcock cautious over sales but assures profits on track
Defence supplier Babcock International has cautioned over its full-year sales, amid ongoing tough trading in the oil and gas sector and a slowdown in the market for defence contracts.
Oil set for the longest losing streak in two months
Oil is set for the longest losing streak in two months as a global rout sparked by a plunge in U.S. equities bled into Asian hours, dragging down everything from commodity markets to energy stocks.
Scottish ports ‘not competitive’ as first major spike in decom work looms, Westwood Global says
The £60billion North Sea decommissioning market is on the cusp of its first major cycle, a new report said.
North Sea oil to bring in £1billion in tax this financial year, says Oil and Gas UK
North Sea oil will bring in £1billion in tax to the UK government this financial year, according to Oil and Gas UK.
Upland hoping to get a ‘Tune’ out of Wick field
Upland Resources’ boss said yesterday that “the cash is there” for a rig to drill a well in the Moray Firth after picking up investment from a major entertainment corporation.
Billions from Trump tax cuts supercharge fossil fuel industries
Oilmen, wildcatters and refiners are reaping billions in windfalls from President Donald Trump’s new tax code, helping boost the staying power of old-style energy even as the world searches for cleaner fuels.
Shell can still grow in ‘rejuvenated’ North Sea, CEO says
Shell’s boss said yesterday that the North Sea is showing signs of “rejuvenation” and can provide the oil major with more room to grow.
Goldman says oil to surpass $80 with market likely balanced
Goldman Sachs Group Inc. hiked its short-term crude oil price forecast by as much as 33 percent, saying the market is now likely balanced.
Updated: Shell chief hails ‘year of transformation’ as profits jump
Shell’s boss today hailed 2017 as a “year of transformation” for the oil major after recording a jump in earnings.
BP’s discoveries show life in the North Sea ‘old dog’ yet
BP’s two new oil discoveries prove there is still life in the “old dog” that is the North Sea, an analyst said yesterday.
EnQuest’s control of Thistle decommissioning likely to lower costs
A deal to put EnQuest in charge of decommissioning two North Sea fields should drive down costs, an analyst said yesterday.
Iraq oil-export ambitions seen putting strain on OPEC accord
OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesn’t plan to scale back any time soon.
Families go hungry after oil price crash
Thousands more struggling families across the north-east are being forced to seek emergency cash handouts for food and heating since the oil price crash.