A resilience package for the North Sea oil and gas sector is “under construction” to combat both Covid-19 and oil price-related concerns, according to an Oil and Gas UK (OGUK) director.
An oil and gas representative body said it has been “very clear” on the messaging over Covid-19 offshore testing, but that it “takes time” after one oil major sent workers offshore prior to receiving their results.
While the Covid-19 pandemic has ground most of society to a crushing halt, Scotland’s essential services, supermarkets and homes still require abundant electricity.
Subsea UK has invested in its market intelligence product, SubseaIntel, so that its members can access all the latest global opportunities when the economy starts to recover from the coronavirus pandemic.
Loganair has made a first foray into Eastern Europe to support travel for key workers from Latvia and Poland in the North Sea emergency response industry.
A professional services giant will warn the oil industry that sweeping redundancies could ruin companies’ chances of cashing in when market conditions start to recover.
The UK Government has extended the cut-off date for workers to be eligible for its coronavirus jobs retention scheme, expected to benefit 200,000 people.
A number of companies more commonly known for supplying personal protective equipment (PPE) to the North Sea oil and gas sector have shifted their focus to provide much needed face masks, visors and respirators for key UK NHS staff fighting the Covid-19 outbreak.
The oil and gas industry has been battered by a perfect hurricane of the three Cs: coronavirus, climate concern and a collapse in crude prices. But a fourth big C, a perennial threat to the health of the sector, lurks in the background and could cause even greater damage than usual in today’s fraught operating environment.
Global oil demand will plunge to its lowest level in 25-years this month, in what the International Energy Agency described as a “staggering” wipeout of nearly a decade’s growth.
New investment in the energy transition can be a “crucial pathway” out of the latest downturn for North Sea firms, according to the head of the Oil and Gas Authority (OGA).
A senior audit and assurance partner at Deloitte said the downturn could be a “catalyst” for change, but oil firms are first taking steps to survive the “uncharted waters”.
It is amazing how fast things have changed. It is only a few months ago that I made my new year resolutions for 2020. Beaming with optimism and positive energy, I set out ambitious targets to ensure 2020 would be a year to remember.
Crises are proliferating in Libya, with the conflict continuing to rage despite high-level assurances of ceasefires in response to the coronavirus pandemic.
A global deal to cut oil production and save the market from a coronavirus-induced breakdown proved elusive on Friday as a diplomatic initiative led by Saudi Arabia suffered repeated setbacks.