The UK's foremost annual conference for the lifting industry got under way in Aberdeen yesterday in what is set to be a record-breaking year for the event.
North Sea businesses hoping to benefit from decommissioning tax breaks were left wanting by the Chancellor’s Autumn Statement today.
North Sea industry should look to Opec for good news, not Chancellor Philip Hammond, an energy finance expert said today.
The Chancellor has not provided any additional relief for the North Sea oil and gas industry.
Thirty-three workers were evacuated from a drilling rig in the Norwegian Sea yesterday after a fire broke out in one of its engine rooms.
Next year will mark 50 years since first gas at West Sole, the UK North Sea's first producing field. Since oil prices crashed in 2014, however, pessimism has descended upon the industry like a thick North Sea fog, obscuring five decades of achievement. The 2004-14 boom decade left a legacy of unsustainably high costs, followed by painful restructurings and even outright bankruptcies. UK production levels have fallen over 60% since the peak, investment levels and tax receipts even further, and 120,000 jobs have been lost. 2016 will be the fourth consecutive cash flow negative year, severely curtailing new exploration and development activity. Little wonder the North Sea is widely seen as a busted flush, condemned to a grim future of costly decommissioning.
Statoil has topped a league table that ranked oil companies based on how well prepared they are for a transition to a low-carbon economy.
Solar panels on Aberdeen City Council buildings have cost the taxpayer nearly £300,000 – despite them being switched off due to fire risks.
West-Africa-focused Eland Oil and Gas said today it would speed up plans to reduce its use of pipelines for its Nigerian crude exports.
Statoil has completed its $2.5billion deal to buy 66% of an offshore licence in Brazil’s Santos Basin from Petrobras, the Norwegian oil major said yesterday.
There are still too many questions and not enough answers when it comes to decommissioning costs and liabilities, an industry analyst has said.
When a massive country de-nationalizes its entire energy sector and opens its oil and gas doors for the first time ever to foreign companies, the opportunities are staggering.
A fire which broke out on the Scarabeo 5 drilling rig in the Norwegian Sea this evening has been brought under control, Statoil said.
Plans were being made to evacuate 106 people from a drilling rig in the Norwegian Sea after a fire broke out in the engine room this evening.
Donald Trump urged Nigel Farage to oppose offshore wind farms at a recent meeting, it has been reported.
Campaigners wearing the white rose of Yorkshire have demonstrated outside the High Court in London at the start of a legal challenge against one of the first planning applications to carry out fracking in England.
Plans for a 17-turbine wind farm in East Ayrshire have been rejected by the Scottish Government.
Offshore drilling contractor Seadrill suffered a 25% drop in revenues in the third quarter.
Revenues at quality assurance giant Intertek went up by 18% to £2.1billion in the first 10 months of the year thanks to income from acquisitions and growth in its products divisions.
Gulf Marine Services (GMS) said today that it had one a new contract for one of its vessels in the Middle East North Africa (Mena) region.
The boss of the Oil and Gas Technology Centre (OGTC) said yesterday that the north-east had a “unique opportunity” to create a new breed of “brave” leaders.
As Europe’s offshore oil and gas capital, our region has a well-earned reputation for enterprise and innovation, but the eventual depletion of North Sea reserves over the next 25 to 35 years gives us a serious long-term economic challenge.
A £825million “renaissance” of the north-east economy has begun to take shape as the first of the City Region Deal cash arrives in the region.
Europa Oil and Gas’ farm out of interests in two licences in Lincolnshire has been approved, the company said yesterday.
Sweden’s Lundin Petroleum has struck oil on its wildcat well in the Barents Sea.