Opec output deal boosts FTSE 100
The UK’s top-flight index burst back through the 6,900 mark as investors cheered an output-limiting deal struck by the Opec oil cartel.
Australia warns over switch to green power as storm causes state-wide blackout
A rush by Australia’s state governments to switch to clean electricity sources could undermine the country’s energy security, the federal government has warned after an entire state lost power.
Maersk starts drilling on £3bn Culzean field in North Sea
Maersk Oil reached a major milestone on its £3billion Culzean gas development in the UK North Sea when drilling started on the first production well yesterday.
Redundancies expected at north-east engineering company Score
A major North-east engineering firm has announced it will enter a consultation process regarding potential redundancies.
Shell and BP shareholders can use votes to make firms go green, campaign group says
A campaign group is urging Shell and BP shareholders to use binding votes on pay plans to encourage bosses to embrace green energy, a news report said yesterday.
Botswana backs Tlou Energy’s methane project plans
The Government of Botswana has approved Tlou Energy’s environmental impact statement (EIS) for a coal bed methane project following a final review.
“Low key” Hinkley Point signing ceremony expected today
A signing ceremony is expected to be held to finalise the deal to build the first new UK nuclear power station in a generation.
Leo Koot amassing $500m energy sector investment fund
A former North Sea oil boss is amassing a $500million energy sector investment fund with a difference.
Opinion: Offshore decommissioning and asset removal – is there a better option?
The UK is set to spend billions on offshore decommissioning and removal. It is generally believed oil and gas companies will pay for this work. This is not the case. The taxpayer will fund a large proportion through tax breaks.
Australian regulator puts off decision on BP drilling plans for Bight
Australia’s offshore oil and gas authority has asked BP to provide more information about its hotly disputed plans to drill off the country’s south coast.
Mexico to cut stake in first deep-water venture to level playing field, report says
The terms of a deal to develop a deep-water field off Mexico will be adjusted to create a more level playing field between state-run Pemex and its private project partners, a news report said.
Opinion: Where will oil prices go after Algiers?
Saudi Arabia and Iran may yet come to terms on some sort of production arrangement, but the outcome of the negotiations in Algeria this week may not do much to rescue oil prices. Following the media spectacle, the oil markets may have to shift their attention back to the supply and demand fundamentals, which are not reassuring.
BP signs agreements for Egypt field developments
BP said today it had signed three concession amendments with Egypt allowing the company to develop the Nooros play.
Eni’s Norway unit resumes production on Goliat field
Eni Norge restarted production on the Goliat field in the Barents Sea today, just over a month after shutting it down due to a gas leak.
At least four dead in Angola as helicopter bound for Chevron platform crashes
Four workers have died and another two are missing after their helicopter crashed on its way to a platform owned by Chevron off Angola, the US firm said.
McCaig lambasts Theresa May over “sneering” oil price dig at Scotland
Aberdeen South MP Callum McCaig today accused Prime Minister Theresa May of “sneering at Scotland from afar” and said the UK Government had let North Sea industry down in its hour of need.
Ace Winches completes work on Quad 204 project
Aberdeenshire firm Ace Winches has completed a job for Technip ahead of a project commencing on Quad 204 west of Shetland.
Opinion: The economic and moral bankruptcy of UK energy policy
With its choice for Hinkley Point C - a £100billion boondoggle – its enthusiastic support for expensive and environmentally harmful fracking, and its relentless attack on renewable energy, the UK government’s energy policy is both morally and economically bankrupt, write Peter Strachan, Professor of Energy Policy at the Robert Gordon University, and Alex Russell, Professor and Chair of the Oil Industry Finance Committee. Westminster must reconsider this folly, which will be a disaster for the Conservative party, and embrace the renewable energy transition that can lead us into a clean and economically healthy future.
Iona Energy suitor given two month extension to close out deal
Iona Energy’s administrators have given the defunct firm’s main suitor another two months to find the funds needed for a takeover.
Providence Resources appoints former Tullow chairman
Dublin-based oil and gas explorer Providence Resources today revealed a shuffle of its board.
Statoil cancels drill rig deal early
Norwegian oil giant Statoil has cancelled a contract for a drilling rig several months early.
OGA decommissioning chief urges early engagement with regulators
Oil and gas companies need to engage earlier with regulators and learn from past projects for the North Sea decommissioning sector to realise its potential, according to an industry chief.
OGA sets out six elements of decommissioning programme
The Oil and Gas Authority (OGA) today identified the six elements that will turn the UK into a decommissioning powerhouse.
Opinion: The Decommissioning dream team
In the UK North Sea, a lower for longer environment has seen a number of operators accelerate their decommissioning programmes. But even an industry downturn has its silver lining. The start of decommissioning offers significant revenue for the UK’s supply chain. However, operators are faced with a lack of experience, so having the right team in place will be vital to success. If not they could face delays, rising costs and significant safety issues. Andrew Greenwood, Recruitment Director – Europe and Africa at Airswift, discusses this challenge, the decommissioning ‘dream team’ and the opportunity that lies ahead.
Tech Tuesday: Aberdeen duo design new rise system, bringing jack-up rigs into play
Two Aberdeen firms have designed a new riser system that can be deployed from a jack-up rig, which could help operators keep costs down on high pressure, high temperature (HPHT) well operations.