Oil and gas operator China National Offshore Oil Corporation (Cnooc) International is set to halve worker numbers travelling by helicopter to its North Sea assets in an attempt to socially distance staff and combat the spread of coronavirus offshore.
The UK’s underwater engineering industry is exploring ways in which it can transfer its expertise to help support the national effort to tackle the coronavirus pandemic.
The North Sea should not run “into a pit of lowest price bidding” just because the supply chain is stressed with the oil price drop, according to the chief operating officer of Independent Oil and Gas (IOG).
Oil and gas operator Taqa has confirmed a further seven suspected cases of coronavirus on a North Sea platform - taking the firm's total to 20 across two assets.
A call for staff to return to work at a Dundee-based engineering firm after being sent home amid the Covid-19 pandemic has been branded “irresponsible” amid claims it is putting lives at risk.
US President Donald Trump’s call for a 10 million barrel per day – or even 15mn bpd – cut drove up oil prices last week but weak demand continues to run the show, with little respite expected from talks due to take place this week.
The double whammy of the Covid-19 pandemic and the effects of the Opec+ price war is presenting what is rapidly becoming the upstream oil and gas sector’s biggest challenge to date.
A toxic cocktail of the Covid-19 outbreak and an act of self-sabotage by two of the world’s biggest oil nations has created unprecedented and overwhelming currents for the oil and gas industry to swim against.
A month after the last unproductive OPEC+ meeting and with Covid-19 slashing demand amid the ongoing price war, the US has managed to broker a new extraordinary meeting for oil-producing nations. Russia and Saudi Arabia will be back to the negotiating tele-table on 6 April 2020 to discuss the output cuts of at least 10 million barrels per day (bpd), first announced by US President Donald Trump on Twitter on 2 April 2020.
The world has been transformed in the past month since the COVID-19 pandemic took hold. The dramatic impact of COVID-19 on global oil demand and has been compounded by Saudi Arabia and Russia failing to agree production cuts to stabilise oil prices. With Brent trading well below US$30/bbl the resilience of the sector is once again being pushed to its limit. What does this mean for the UK and Norway upstream sectors?
Oil jumped more than 11% in London as OPEC+ scheduled an urgent meeting next week to try and stem the crude market’s rout, with an output cut of 10 million barrels a day of global production being discussed.
A number of North Sea oil fields will be facing a swifter end to their economic life due to the recent oil price drop, according to a leading petroleum economist.
Oil and Gas UK (OGUK) has insisted temperature checks and social distancing “do work” as a Covid-19 safety measure for offshore helicopter flights, despite concerns from workers and unions over the practices.