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.
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.
Bilfinger UK has said it will offer the option for the government’s coronavirus furlough scheme, days after terminating onshore workers without support.
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.
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.
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.