NEO Energy names Nexen veteran as new CEO
M&A specialist Russ Alton is out, project manager Paul Harris is in.
Markets
Record orders crown a major restructuring year for Baker Hughes
Baker Hughes (NASDAQ: BKR) capped its big restructuring year of 2022 with “record” orders during Q4.
‘Bloated’ Harbour Energy job cuts: Could other North Sea firms follow suit?
Harbour Energy (LON: HBR) is "bloated" staff-wise, say analysts, and this week the firm said it would slash jobs in Aberdeen due to the UK Government windfall tax.
Serica says Tailwind deal can deliver £470m tax offsets and 30m barrels
Serica Energy (LON: SQZ) has issued new info on its proposed takeover of Tailwind Energy, arguing that the latter’s tax losses could deliver a positive to shareholders in coming years.
Oil prices claw back some losses as demand concerns linger
Oil prices edged higher after tumbling around 9% over the previous two sessions, with demand concerns continuing to hang over the market.
Tokyo Gas nears $4.6 bllion deal to buy US shale driller Rockcliff
A Tokyo Gas Co. unit is in advanced talks to buy US natural gas producer Rockcliff Energy in a deal worth about $4.6 billion, including debt, a person with knowledge of the matter said.
Oil prices: New Year misery deepens as demand concerns tick up a notch
Oil’s miserable start to the year deepened as a deteriorating demand outlook came to the fore, buttressed by predictions for a US recession, China’s near-term struggle with Covid-19, and milder winter weather.
Brent Crude oil climbes in price during first session of 2023
International oil price benchmark Brent Crude climbed in the year’s first session as traders digested mixed signals on demand from China, the world’s largest crude importer.
FIDs predicted in 2023 for large untapped UK oil and gas fields
Investment decisions could be on the way for Perth, Bentley and Bressay in the North Sea, alongside West of Shetland giants.
Petrofac shares take a hit on $100m losses announcement
Analysts weigh-in on Petrofac’s dire news and the road ahead.
Tailwind ‘is not the endgame’: Serica eyes up more deals and projects
After Tailwind, Serica Energy eyes new projects in the UK like the Belinda discovery, along with more deals and a potential energy transition shift.
Serica Energy to buy fellow North Sea operator Tailwind in £367m deal
Completion of the deal will put Serica in the club of top 10 producers in the UK North Sea.
$1.4 trillion investors call on Big Oil for more aggressive climate targets
Shareholder activist group Follow This filed resolutions with Shell (LON: SHEL), BP (LON: BP), ExxonMobil (NYSE: XOM) , and Chevron (NYSE: CVX).
North Sea top producer Harbour Energy knocked out of FTSE 100, Petrofac relegated from 250
Harbour Energy (LON: HBR), the top producer in the North Sea, has been knocked out of the club of leading publicly-quoted UK companies.
‘Game-changing’ Aberdeen carbon capture firm targets £1bn revenues
An Aberdeen-based carbon capture firm is launching its first round of fundraising with the aim of generating £1bn revenues over the next 10 years.
Ithaca Energy posts huge $2bn profits in first results since IPO
North Sea producer Ithaca Energy (LON: ITH) has posted pre-tax profits of more than $2bn in its first set of results since its London debut.
Shell launches sale of stakes in a group of UK North Sea oilfields
Shell (LON: SHEL) has launched the sale of its stakes in a group of oilfields in the UK North Sea, according to marketing materials.
CNOOC seeks $2bn sale of US assets – report
China’s CNOOC is reportedly seeking a $2 billion sale of its assets in the US as sanction concerns ramp up.
Windfall Tax: Ithaca to benefit, EnQuest and Neptune to feel the pinch
Ithaca Energy (LON: ITH) will benefit from recent changes to the windfall tax, but rivals Neptune Energy and EnQuest (LON: ENQ) will be harder hit, according to new research.
North Sea independents see shares drop on windfall tax announcement
Several independent North Sea producers saw their share prices drop after the chancellor’s windfall tax announcement - lending credence to claims they are harder hit than oil majors by the policy.
Prolific North Sea buyer Waldorf Production seeks $2bn for more deals
Waldorf Production, a prolific buyer of oil and gas exploration assets in the North Sea, is seeking to raise as much as $2 billion to help bankroll more deals, people with knowledge of the matter said.
Ithaca Energy hopes IPO will be North Sea investment ‘turning point’
A top boss at Ithaca Energy (LON: ITH) hopes the company's initial public offering (IPO) in London will mark a “turning point” for investment in the North Sea.
Ithaca going public: Who else in the North Sea has launched stocks?
As Ithaca Energy looks to make an Initial Public Offering (IPO) in London, we take a look at some of the other North Sea operators that have launched stocks recently.
UK to ban services allowing shipments of oil from Russia
The UK is pressing ahead with legislation to prevent its services being used to allow shipments of oil from Russia internationally.
Scotland’s Flotation Energy taken over by Japanese utility giant TEPCO
Edinburgh-headquartered Flotation Energy has been acquired by Japanese utilities giant Tokyo Electric Power Company (TEPCO).