A number of North Sea oil fields will be facing a swifter end to their economic life due to the recent oil price drop, according to a leading petroleum economist.
The “extremely challenging” conditions presented to the North Sea industry “emphasises the need” for the government’s promised oil and gas sector deal, according to EY.
Investing in capital markets is, speculators aside, a long- term play. When times are good investors can relax and take pleasure in their investment prowess; when times are bad investors need to remind themselves, they are in for the long term, and play to the fundamentals.
Dundee will become the go-to hub for decommissioning work in the UK according to the man who has spearheaded the city’s move into the sector.
BP is adjusting the company's offshore procedures after several workers who had previously been aboard a production platform in the Gulf of Mexico tested positive for the coronavirus.
Aberdeen-headquartered energy services firm Wood has said “employee reductions are being made” in order to tackle the effect of the coronavirus outbreak.
Energy services firm TechnipFMC has announced a reduction in spending of more than 30% in response to the coronavirus outbreak.
A key climate summit in Glasgow has been postponed until next year due to the coronavirus outbreak.
Bilfinger UK has said it will offer the option for the government’s coronavirus furlough scheme, days after terminating onshore workers without support.
Energy giant BP has announced a 25% cut in spending in response to the coronavirus outbreak.
Oil futures advanced amid a broader bounce across financial markets while the price of actual crude plummeted to near $15 a barrel.
A new chief executive has today taken on the top job at North Sea operator Repsol Sinopec Resources UK.
The UK Government has approved a plan to decommission a North Sea development less than five years after first oil.
The Fatal Accident Inquiry (FAI) into a North Sea helicopter crash in 2013 has been delayed due to the coronavirus outbreak.
Subsea 7 has warned of “significant headwinds” from the dual impact of the coronavirus and plummet in oil price.
Many petrol stations will be forced to close due to a lack of sales and their businesses becoming unprofitable, a trade association has warned.
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of staunching an historic plunge in oil prices.
Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come.
BP has promised its employees their jobs are safe over the next three months, while the oil major considers ways to cut costs with crude prices plunging.
Shell has warned that cash flow will take a major hit when the firm publishes its first quarter results next month.
A “virtual” remembrance service will be held tomorrow to mark 11 years since a fatal helicopter crash near Peterhead.
IHS Markit expects as much as 10 million barrels a day of world oil production to be cut or shut-in from April through June as storage fills up and demand craters due to the Covid-19 pandemic.
Siccar Point Energy has announced it will defer approval of its highly-anticipated Cambo development until the second half of next year due to the coronavirus outbreak.
‘Disgust’ as Bilfinger Salamis terminates workers without option for government’s coronavirus support scheme
Workers have said they have been “hung out to dry” and “abandoned” by Bilfinger Salamis after their jobs were cut without the option to use the government’s coronavirus support scheme.
A series of North Sea operators are working to remove cabin sharing offshore “wherever possible” in order to prevent the spread of the coronavirus.