Mark Lammey

Energy Voice editor
Oil & Gas

Shell-BG $70 bln deal crosses key milestone with U.S. clearance

U.S. regulators have given the green light for Royal Dutch Shell's proposed $70 billion acquisition of British rival BG Group, the first clearance for the biggest deal in the energy sector in over a decade. The two companies said on Tuesday the United States Federal Trade Commission (FTC) had cleared the deal. The deal, which the companies aim to complete by early 2016, will require further regulatory clearances from all the countries BG operates in, including the European Union, China, Australia and Brazil.

Oil & Gas

Job losses in UK’s North Sea raise skills and safety concerns

Cost-cutting in Britain's North Sea oil and gas sector could lead to more acute skills shortages in future, industry experts have warned, with some expressing concerns that safety could be compromised. A plunge in crude prices over the last 12 months has prompted oil majors such as Royal Dutch Shell, BP, Chevron and ConocoPhillips to lay off hundreds of workers. Oil field services groups such as Amec Foster Wheeler, Wood Group and Petrofac are also in consultation with employees over job cuts.

Oil & Gas

Total restarts La Mede refinery after strike

French oil major Total said on Monday it had begun procedures to restart its La Mede refinery near Marseille, which management had decided to halt after the CGT union called a strike against plans to stop crude processing.

Oil & Gas

Big Oil saves Putin’s top investor show, again

Some of the world's most powerful oil executives will attend Russia's top investment show this week, once again helping the organisers shrug off a meagre turnout from other leading Western industrialists and bankers.

Oil & Gas

Cairn India seeks to export oil despite ban

Cairn India is thought to have invited initial bids for exports of its oil from the desert state of Rajasthan, despite a government ban on overseas sales of locally-produced crude.

Markets

British spot gas prices rose as demand for restocking increases

British spot gas prices rose on Wednesday in response to strong inventory restocking demand which followed a shut-down of the gas link with Belgium for 16 days of annual maintenance. The price of gas for Wednesday delivery, known as the spot contract, rose 0.25 pence per therm to 45.70 pence by 0851 GMT, while gas for delivery on Thursday rose 0.05 pence to 45.25 pence. Britain's gas network was undersupplied by 21 million cubic metres/day (mcm), equating to around 11 percent of daily demand which was pegged at 190 mcm, according to figures from National Grid. The shortfall reflects both strong demand for refilling large- and mid-range storage facilities and the closure of the Britain-Belgium gas interconnector, which led to reduced gas deliveries from Norway and domestic terminals.