Renewables path is beckoning
“It gives me a bit more confidence”, says Wood graduate Sebastian Eunson, “working for a company that is investing in different industries”.
Police Scotland offered oil rig to help train for North Sea protests
Police Scotland has been offered use of an idle oil rig in order to train against a recent wave of protests in the North Sea.
IOCs primed for record numbers after ‘toughest year ever’ – Wood Mackenzie
International oil companies (IOCs) could be on track for record free cash flow this year should Brent continue its rise, according to Wood Mackenzie.
Subsea 7 reports losses of £750million, warns Covid will impact 2021 results
Subsea 7 has reported a major widening of pre-tax losses and warned that its 2021 results will continue to be impacted by Covid-19.
EnQuest farms-down Eagle discovery to Hibiscus for $1
EnQuest has agreed to farm-down an 85% stake in its Eagle discovery in the North Sea to Anasuria Hibiscus for a “nominal” $1 fee.
‘Extreme year’ delivers ‘solid results’ for Archer
Oilfield services firm Archer has delivered what it describes as “solid results” in an “extreme year”.
‘We want to grow further from here’: NEO Energy rising up North Sea ranks
NEO Energy plans to continue its growth spurt after announcing a billion-dollar deal to acquire ExxonMobil assets in the North Sea.
Wintershall Dea losses top £1billion as Covid cuts oil and gas prices
Wintershall Dea of Germany saw losses widen to more than £1billion in 2020 as Covid-19 brought down commodity prices.
ExxonMobil agrees sale of UK North Sea assets to NEO in $1billion deal
ExxonMobil has agreed to sell a package of UK northern and central North Sea assets to NEO Energy in a deal worth more than $1billion (£707.3m).
Greencoat announces deals worth up to £146million for Scottish wind farm stakes
Renewables investment firm Greencoat UK has announced deals worth up to £146million for stakes in a pair of Scottish wind farm projects.
Death of Keystone XL sparks rush to ship oil-sands crude by rail
US President Joe Biden’s decision to cancel the Keystone XL pipeline is sparking renewed interest in shipping Canadian oil-sands crude by rail, and that comes with its own environmental risks.
‘Economic fallout’ in Aberdeen laid bare
A leading Scottish economist has said the greater exposure to the “economic fallout” of the Covid-19 crisis suffered by Aberdeen and wider north-east, compared with other parts of the country, must not be forgotten in post-pandemic rebuilding efforts.
Employers very wary of ‘no jab, no job’ policy, says top oil and gas lawyer
Most oil firms would be “very wary” of trying to enforce a “no jab, no job” vaccine policy for its workforce, according to a top employment lawyer.
Worley profits down 70%, hails completion of Buzzard Phase 2 contract
Profits dropped more than 70% for engineering services giant Worley during the first half of its 2021 financial year.
Oil services M&A: 2021 and beyond
Law firm Womble Bond Dickinson and consultancy ROOTT discuss the oil and gas services sector M&A trends expected in 2021.
Process Safety: Empowering frontline workers
For the oil and gas industry, saying that safety is a ‘top priority’ doesn’t come close to capturing the extent of our commitment – we work to make sure that safety is ingrained in every company’s culture, and we won’t rest until all of our colleagues feel that all the risks they could face at work are addressed.
IR35 reform: what oil and gas firms must do by 6th April
While COVID-19 and Brexit have dominated the agenda for oil and gas businesses in recent times - and rightly so I should add - there is a third issue that this industry is taking just as seriously. I am, of course, referring to IR35 reform in the private sector.
Air Control Entech wins £175K grant as offshore inspection drones gear up for 5G
Air Control Entech has won a £175,000 government grant to advance its offshore drones for the next generation of wireless technology.
NXG opens larger Aberdeen HQ and launches Mexico operation
Drilling technology and services firm NXG has invested more than £1million to open new Aberdeen headquarters, and launch an operation in Mexico.
Interview: NHV CEO hopes oil price bump can get helicopter market to ‘more sustainable situation’
The CEO of NHV hopes the restoration of oil prices can help the beleaguered helicopter market “to a more sustainable situation”.
Updated: Infrastrata buys Bifab Methil and Arnish yards in £850,000 deal
Infrastrata has announced the acquisition of the Methil and Arnish yards of the collapsed Scottish manufacturer Burntisland Fabrication (Bifab).
US oil majors downgraded by S&P on climate risk, earnings
US oil majors ExxonMobil, Chevron and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.
Oil price red-hot rally fizzles with virus continuing hold on market
The oil price slipped below $58 a barrel as a recent rally fizzled with the Covid-19 pandemic continuing to weigh on the demand outlook and as one technical indicator signaled prices may have climbed too far, too fast.
Shell to freeze salaries for majority of staff amid overhaul
Shell will freeze salaries for most of its employees this year, according to people with knowledge of the matter, as it looks to save cash amid an overhaul of the company.
UK offshore market expecting rebound ‘over the next 24 months’ – Westwood
The next 24 months will see a “rebound” in work for the UK North Sea, according to Westwood Global, with a clutch of offshore projects for contractors to keep an eye on.