OTC 2020 cancelled due to coronavirus
The annual Offshore Technology Conference (OTC) in Houston has been cancelled due to the Covid-19 pandemic.
Oil soars after Trump says Saudi Arabia, Russia to cut supply
Oil soared after U.S. President Trump said that he expects Saudi Arabia and Russia to cut production back by 10 million barrels or more after he spoke with Crown Prince Mohammed Bin Salman on Thursday.
Centrica ‘pauses’ Spirit Energy sale until markets settle
Utilities giant Centrica has "paused" the sale of its stake in Spirit Energy due to the economic meltdown caused by the Covid-19 outbreak and oil price war.
Exclusive: Ogic activities transferred to Oil and Gas Technology Centre
The Oil and Gas Technology Centre (OGTC) has been handed £3 million in funding to help it take over the duties of another energy innovation facility.
Deal to save ‘thousands’ of North Sea jobs hammered out
A deal has been struck to protect hundreds, and potentially thousands, of North Sea jobs during the coronavirus outbreak.
No alarm over future for North Sea, oil boss says
Neptune Energy’s UK boss said on Tuesday that talk of the North Sea oil and gas industry being wiped out by a collapse in crude prices is premature.
Hunkering down for prolonged low prices, Neptune identifies cost cuts
Neptune Energy bosses insist the firm is “resilient enough to meet the challenges of today” as they hunker down for a prolonged period of low oil and gas prices.
Trio bring their touches of expertise to AAB board
Accountancy and business advice firm Anderson Anderson & Brown (AAB) has bolstered its team of directors with three new appointments.
New facilities help strengthen firm in Middle East
Energy services company Stats Group said yesterday it had strengthened its presence in Oman, with the opening of a new workshop, storage and testing facility in Muscat.
Bilfinger Salamis praised for halting job losses
The Unite trade union has applauded Bilfinger Salamis for stepping back from its earlier decision to make almost 100 workers redundant.
Petrofac’s chief takes a 45% drop in pay
The latest annual report from energy services company Petrofac shows CEO Ayman Asfari took a 45% pay cut in 2019.
Oil price downturn could be prolonged, Westwood Global says
Oil prices plunged to an 18-year low yesterday as hopes of a production pact between Saudi and Russia faded
Asco hires ‘seasoned’ executive as chief financial officer
Global energy industry support services company Asco Group, of Aberdeen, said yesterday it had appointed “seasoned” executive Gary Paver as chief financial officer.
Virus looks set to delay BP’s Tangguh LNG expansion
BP will be bracing for a delay in the start-up of its third liquefied natural gas (LNG) train at the Tangguh LNG project in West Papua province, Indonesia, due to the Covid-19 pandemic.
Layoffs, furloughing & redundancies: Advice for energy employers facing tough workforce decisions
With offshore companies in the North Sea already reporting substantial cutbacks in staffing, employers should carefully consider all of their options for contractual and temporary solutions to see them through the crisis, as employment solicitor Paida Dube explains.
Trio of oil and gas players unite to launch new ‘Coretrax’
Three oil and gas technology firms have joined forces to offer the global oil and gas industry an integrated approach to well maintenance.
New Aberdeen firm to take fear out of legal costs for smaller oil firms
A trio of experienced oil and gas lawyers have vowed to take the sting out of legal fees with their lean and nimble energy-focused practice in Aberdeen.
Viewport3 to roll out remote data capture service
Subsea scanning company Viewport3, of Aberdeen, is poised to roll out a new remote data capture service for the energy sector.
BP inks new deal with Teekay for Foinaven FPSO
BP has inked a new contract lasting up to 10 years for the vessel which serves its Foinaven field, west of Shetland.
Cortez Subsea boosts team in Cairo
Cortez Subsea has strengthened its pipeline engineering capabilities with the formation of a new team in Cairo.
New well to keep Chestnut field producing for three more years, Spirit says
Oil and gas firm Spirit Energy has given the Chestnut field in the UK North Sea a three-year life extension by drilling a new production well.
Tumbling gas prices put Parkmead in the red
Parkmead Group’s boss said the energy company had “retained its financial strength” despite being pushed into the red by falling gas prices.
Chief executive departs Decom North Sea
The chief executive of Decom North Sea (DNS) has left the oil and gas decommissioning industry organisation after 20 months at the helm.
KCA Deutag says ability to operate ‘very complex’ amid price slump
Drilling contractor KCA Deutag said its ability to operate had become “very complex” due to the recent crude price slump and Covid-19 outbreak.
Upstream oil and gas in an uncertain world
Green shoots in the oil and gas market predicted at the start of 2020 have fallen by the wayside. It was meant to be the year when the industry, particularly in Europe, got serious about ESG credentials and planning for a carbon free future.