Taqa has largest North Sea decommissioning bill this decade – Wood Mackenzie
Taqa has the largest UK decommissioning bill of any North Sea operator this decade, according to Wood Mackenzie.
UK
OGA pitches £100m loan fund for North Sea decommissioning
The Oil and Gas Authority (OGA) has pitched a £100m loan fund to the UK Government to stimulate North Sea decommissioning activity.
Equinor making job cuts in UK, Canada and US in response to downturn
Equinor is making job cuts in the UK, Canada and US in response to the oil downturn, with its Aberdeen workforce included in the process.
UK oil workers can get exemption to Norway ‘red zone’ travel restrictions
UK oil workers are eligible for an exemption to new rules restricting travel to Norway, the country’s government has advised.
Understanding how crude oil and currency prices are connected
Oil, as the world's most heavily-traded natural resource and the bedrock foundation of some of the planet's largest economies, has always had a strong impact on virtually every area of economics and finance. The global oil trade is estimated to be worth something in the region of around $4 trillion a year in revenues, or about 3.8% of global GDP.
Decommissioning cost efforts ‘compromised’ by 5% of North Sea operators, says OGA
Efforts to reduce the UK's offshore decommissioning bill last year were "largely negated" by 5% of operators who increased their costs by £1billion, according to the Oil and Gas Authority (OGA).
Up to 15% of UK North Sea platforms could be reused for CCS, analysts estimate
Up to 15% of UK North Sea platforms could be reused for Carbon Capture and Storage (CCS) technology, according to new analysis from Boston Consulting Group (BCG).
NHV accuses Babcock of ‘race to the bottom’ over Total contract win
The chief executive of NHV has accused rival helicopter operator Babcock of engaging in a “race to the bottom” after a pair of North Sea contracts with Total changed hands.
Report finds hydrogen could be worth up to £18bn to UK economy by 2035
Hydrogen could be worth as much as £18bn to the UK economy by 2035, according to a landmark new report.
Petrofac expects ‘bounce back’ for UK work in 2021
Petrofac is expecting areas of its business to “bounce back” in 2021, according to a UK boss, as it handles the effects of Covid-19.
Siemens and Dron & Dickson partnership creates promising competition for fire and gas electrical equipment supply
Siemens world-renowned fire safety products, systems and solutions safeguard assets from fire risk. This teamed with Dron & Dickson’s UK wide distribution capabilities and electrical engineering expertise have created a powerhouse in Fire & Gas Engineering for hazardous and industrial areas, both on and offshore.
Shell sees ‘running room’ in West of Shetland
Shell has reiterated its “commitment” to the North Sea and West of Shetland, saying there is still “running room” in the region.
Shell CEO says ‘we will resize as appropriate’ as firm eyes job cuts
Shell CEO Ben van Beurden has said the energy giant will “resize as appropriate” as it moves to become a “simpler and leaner” organisation.
Petrofac doubles UK wells with Neo Energy contract
Petrofac has doubled the size of its offshore wells portfolio in the UK North Sea after winning a new contract with Neo Energy.
Fugro targets £100m annual savings from job cuts, other measures
Fugro is aiming to save nearly £110m (EUR120m) per year thanks to a 10% reduction in its workforce and other measures.
New wave of UK offshore wind could help reduce energy bills
The newest wave of UK offshore wind farms could produce power so cheaply that they pay money back to consumers, researchers have said.
Union Jack Oil increases stake in Biscathorpe onshore prospect
Union Jack Oil has increased its stake in the Biscathorpe onshore prospect after receiving approval from the Oil and gas Authority (OGA).
CNOOC profits and production drop during Riddoch’s final year
CNOOC saw profits and production tumble for its North Sea business in Ray Riddoch’s final year at the helm of the operating company.
PM pledges £350m for projects to cut emissions
Almost £350 million is being made available to help cut emissions from heavy industry, construction and transport, the Prime Minister has announced.
Fugro starts site investigations at two North Sea offshore wind developments
Dutch services firm Fugro has begun a four-month marine site characterisation campaign at two major North Sea wind development sites.
OGUK urges government to be ‘mindful’ of impact from new Brexit customs costs
Oil and Gas UK (OGUK) has urged the UK Government to be “mindful” of any additional costs to the sector as it plans new Brexit customs charges.
Shell UK boss: ‘We need to look long and hard at our choices’
Shell is looking “long and hard” at its organisation and portfolio as it works to emerge from Covid and move towards net zero, according to its UK boss.
BP ‘will look very different’ within the decade, says Europe and UK chief
BP “will look very different” in five to 10 years’ time according to the man who oversees its business across Europe and the UK.
Oil and gas drilling set for ‘staggering’ 20-year low – Rystad
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
UK oil supply chain diversifying into non-energy sectors due to Covid-19, says EIC
UK oil supply chain firms are diversifying into non-energy sectors due to Covid-19 and low commodity prices, according to a new report.