Maersk Drilling fell to a pre-tax loss of £1.18 billion in the first half of 2020 due to a hefty impairment linked to the Covid-19 outbreak and oil price drop.
Drilling services firm Archer made pre-tax profits of £2.3 million in the first half of 2020 despite being hit hard by the Covid-19 pandemic and low oil price.
Whalsay Energy booked an impairment charge of £52.7 million ($69m) on its Bentley field based on offers it received as part of a Covid-hit sale and farm-out process.
Helicopter operator NHV improved the Covid-19 cleaning regime at its Aberdeen base after being pulled up by the UK's health and safety watchdog.
It is almost impossible to underestimate the impact of the Covid-19 pandemic. Not only have 13-million-plus cases of infection and more than 570,000 deaths been reported [July 2020], but the virus is still with us and it is still killing people in many parts of the world. Uncertainty about the future is high, despite moves towards reopening economies and success by some nations in bringing the virus under control within their borders. The uncertainty is compounded because many nations are still facing rapid growth in infection rates.
ABN AMRO is pulling out of its trade and commodity financing, while cutting its natural resources and transportation and logistics work to European clients only.
An offshore safety boss has blamed a local outbreak in Aberdeen for a rise in the number of North Sea workers that have come into contact with people showing symptoms of Covid-19.
Oil edged higher as markets in Europe and Asia advanced on signs that the surge in coronavirus cases in the southern U.S. is slowing.
A marine and risk consultancy firm is offering struggling businesses in the north-east a helping hand to try and support them through the pandemic.
Two Aberdeen-based firms have joined forces to launch a new mobile screening app for businesses to monitor employees for any symptoms of coronavirus and respond swiftly to any concerns.
Though Covid-19 lockdown restrictions across Scotland are now beginning to ease, the viability and availability of international travel remains up in the air.
Fuel retailers overcharged motorists when the coronavirus lockdown was introduced by failing to fully pass on savings, according to analysis.
The energy industry is in the midst of a deep and wide-ranging digital transformation. While Covid-19 and lower oil and gas prices have disrupted many investment programmes, the direction of travel is clear – the industry needs to continue to invest in innovation and the development and deployment of new processes and technologies. Not to do so risks being left behind.
If Covid-19 has taught the world anything, it is that the power of digital technology to save time and money and improve our lives was not being used to its full advantage.
UK listed oil and gas companies recorded more profit warnings in the second quarter of 2020 than in the whole of last year, according to a new report by EY.
The leading representative body for the UK’s offshore oil and gas sector has partnered with Skills Development Scotland to signpost support for oil and gas workers impacted by redundancy.
Europe’s largest underwater engineering event, Subsea Expo, is shaping up to what could be the sector’s first, large scale exhibition and conference following lockdown where delegates will be able to meet and network face to face.
A number of jobs are under threat at a firm which provides a range of services to a major oil and gas company.
OceanTools’ boss has said the underwater technology firm has come out of the Covid-19 lockdown “fighting”.
The acceleration of digitalisation during the coronavirus pandemic has brought into sharp focus the opportunities for digital technical training within the oil and gas sector.
“Recovery plans rooted in the energy transition represent a far-sighted investment.” So claims Irena, the International Renewable Energy Agency.
BP’s chief executive Bernard Looney has said oil and gas would be a “smaller, but core part” of the business as it “pivots” to net zero.
The Offshore Achievement Awards (OAA) is gearing up for its first ever virtual awards ceremony, allowing finalists and winners to be celebrated by industry on Friday, August 14, 2020.
Energy sector training provider 3T Energy Group has launched Transform, a new cloud-based workforce management and learning platform.