The marginal recovery in the price of Brent crude in February was more or less wiped out again in March and now seems to be levelling out somewhere around the $60 mark. ‘After-shocks’ are likely to continue making predictions about what will happen next, more art than science. Some economists have suggested the market remains over-priced and that $35 or even $30 oil isn’t beyond the realms of possibility. Let’s hope they’re wrong.
A judge has granted a bid by Scotland's senior law officer to get access to black box data from a crashed helicopter which claimed the lives of four offshore workers. The Lord Advocate, Frank Mulholland QC, had sought court authority to make the combined voice and flight data recorder (CVFDR) available to him in a move opposed by the pilots' union, BALPA.
Engineering and management services firm Optimum Energy has experienced a £1million turnover in just 13 months. The firm has put the achievement down to securing a number of high profile agreements with major drilling contractors.
Oil explorer Baron Oil has reported positive results from drilling operations in Northern Ireland. An appraisal carried out by the firm found that the Islandmagee-1 well, which was drilled to a total depth of 1,753 metres, yielded 185.8 metres of Permian salt, with core samples sent to Germany for analysis.
Energy technology provider JDR has been appointed to supply subsea cabling technology services for the Rampion offshore wind farm. The contract, which was awarded to the firm by E.ON, will enable JDR to design and manufacture 142km of 36 kilovolt inter-array cables for the project.
Offshore drilling company Seadrill Limited is to sell its West Polaris drillship to a subsidiary within the next week. Seadrill Operating, which is 58% owned by Seadrill Limited, will acquire all of its owner's shares of Seadrill Polaris, the entity which owns the the drillship.
Sales at upstream oil and gas product provider AnTech have doubled during the last financial year, the company has reported. Amid what has been a time of uncertainty for the industry the UK-based firm said its sales had risen 52% between April, 6 2014 and April 5, 2015.
Energy logistics provider Peterson has teamed up with Veolia to develop a £1million decommissioning facility in Great Yarmouth. Peterson was awarded £70,000 from New Anglia LEP’s flagship Growing Business Fund, to help establish the new facility.
Mosman Oil and Gas has confirmed its preferred drill location at a venture in New Zealand. Well Te Wiriki-1 on the Murchison permit in the country's South Island is planned as vertical exploration well with an minimum target depth of 1,200m.
Sound Oil has been given approval for an environmental impact assessment for a permit covering its Dora and Dalla assets in Italy. The award covers the D503-BR-CS offshore license in the central Adriatic and includes the Dora gas discovery and the Dallas exploration prospect.
Northern Petroleum has been given approval on the environmental impact assessment (EIA) of three potential exploration permits in the southern Adriatic. The EIA approvals have been received from the Ministries of the Environment and National Heritage and are awaiting decree by the Ministry of Economic Development.
The world’s smallest biomass power plant has made its arrival at the Royal Highland Show. VG Energy will display the the E3 biomass powerplant at the event which will run from June 18-June 21 in Ingliston while in the long term it use the device in future operations.
The leader of the Institution of Mechanical Engineers (Imeche) has said more needs to be done to bridge fracking relationships. Dr Jenifer Baxter, head of energy and environment at the institution, made the call after councillors in Lancashire recommended exploration at Cuadrilla, but held off on a final decision.
Engineering product and service provider Sparrows Group has expanded its senior management team. Steve Bertone joins the firm, of which he will he head operations in the US, Brazil, Mexico and the Caribbean, with more than 30 years' experience in the industry.
Leni Gas & Oil (LGO has confirmed the spudding of the 12 well in its Goudron field development. The company acquired the prospect on the south-eastern edge of Trinidad in 2011 and has so far drilled 12 out of 30 planned wells.
People have been evacuated from their homes in south Texas after a ruptured natural gas pipeline sparked a massive fire. The blaze, which took hold on Sunday night after the Energy Transfer Partners pipeline ruptured near Lindenau, DeWitt County, could be seen from 20 miles away.
Sparking interest with Energy Voice readers this week was the news of Centrica's former chief executive joining up with the Carlyle Group and CVC Capital Partners.
Scotland-based energy firms will expect the Middle East to become vital to their operations in terms of market share over the next few years, according to a professional services firm. KPMG surveyed more than 30 senior executives from oilfield services and energy-focused technology businesses at a seminar in Aberdeen last week which highlighted business opportunities and risks in the region. The Middle East represents an enormous market for UK-based businesses in the industry with opportunities spanning oil and gas, power generation and renewables.
A subsea engineering and training firm has completed a contract with Decom North Sea (DNS). The deal enabled the UK-based company to identify pioneering methods of salvage and re-use options for concrete subsea mattresses, the findings of which were presented to industry members yesterday. Nigel Jenkins, DNS chief executive said: “This project was implemented in direct response to our operator member requests and Jee’s findings have been eagerly anticipated.
Atlantic Offshore Rescue is to unveil the third vessel of its modernisation programme. The standby vessel operator will showcase the Ocean Falcon, which totals £300million, at a ceremony in Aberdeen today. Ocean Falcon is a new H820 design from Havyard Ship Design. It was built and developed in Passai, Spain by Zamakona shipbuilders, in close collaboration with Atlantic Offshore Rescue over an 18 month period.
The most read story on Energy Voice this week was the news of BG Group's new contract on a flotel damaged by North Sea gales.
New Zealand-focused Kea Petroleum has suspended its shares after a fundraising exercise failed. The company, which has operations in the Taranaki basin, said it had requested the suspension after failing to secure £3m of funding to develop its Shannon prospect.
Oil giant Rosneft has produced its one millionth ton of oil at the northern tip of the Chayvo Field. A spokesperson for the firm said the milestone had been reached just eight months after drilling the first well at the field which was completed in September 2014 from the onshore site. RN-Shelf-Far East, Rosneft subsidiary, is currently producing crude oil at the field with two unique extended-reach wells that are 10,825 m and 9,923 m of measured depth. Their cumulative daily output amounts to over 5,000 million tons.
The story which sparked the most interest with Energy Voice readers this week was the news of BP placing North Sea operation staff on an equal time rota. The oil giant will now move to a three on, three off shift pattern. The move, which is also being considered by a number of other companies including Talisman and EnQuest, was announced to employees earlier this week.