EU agrees to set $60 price cap level for Russian oil exports
The European Union agreed to put a price cap on Russian oil at $60 a barrel, paving the way for a wider Group of Seven deal, according to a Polish diplomat.
Oil & Gas
STATS tackles ‘world first’ subsea pipeline intervention in Middle East
STATS Group has been commissioned to provide pipeline isolation, hot tapping and plugging services to the world’s largest diameter subsea pipeline intervention project in the Middle East.
Italy mulls support for fossil fuels despite climate promise
The Italian government is considering financing for international fossil fuel projects that would generate emissions 3.5 times greater than Italy’s, Oil Change International warns.
Avalon: Ping Petroleum pushes back investment decision on North Sea oilfield
Ping Petroleum has moved back its timeline for a final investment decision (FID) on the Avalon oilfield in the North Sea.
Shell allowed to appeal $1.8bn Nigerian court order
Nigeria’s Supreme Court said a Shell subsidiary can appeal a judgment directing the company to pay compensation over alleged pollution in a legal dispute that is holding up the oil giant’s efforts to sell assets in the West African country.
‘Extreme’ flaring seen for miles from Ineos Grangemouth as firm deals with ‘process upset’
Ineos has apologised to Central Belt residents after a ‘process upset’ led to hours of flaring at Grangemouth on Thursday evening.
BP told it must offload Rosneft stake or ‘risk complicity with Russia’s war crimes’
A senior figure in the Ukrainian Government has urged BP (LON: BP) to severe its relationship with Rosneft (MM: ROSN), or “risk complicity with Russia’s war crimes”.
Sasol faces tough questions on transition at AGM
Sasol will hold its AGM today and will face some tough questions on its environmental stance from various NGOs.
Sonangol lines up additional Suezmax for 2023 delivery
Sonangol has begun building a second oil tanker, following an oil cutting ceremony in South Korea on November 28.
Russia to defend revenues in face of price cap
With just days remaining until the European Union imposes a price cap on Russian oil, much uncertainty remains.
‘Diminishing hopper’ of big North Sea projects a leash on firms’ ability to offset tax hike
Westminster’s hopes of spurring North Sea spend in the coming years could be derailed by one fundamental issue: a lack of available projects.
‘Nae a BOSIET in sight’: Offshore workers react to ‘The Rig’ trailer
Supernatural thriller? All-enveloping fog with no contact with the outside world?
Ithaca capex could top £1bn in near future, driven by Cambo, Rosebank, Marigold and Fotla
Ithaca Energy is preparing to pull the trigger on hundreds-of-millions of pounds worth of spend, should a handful of North Sea projects get the go ahead.
Neptune Energy confirms up to 22m boe find at Calypso
North Sea operator Neptune Energy has confirmed the discovery of fresh, commercial oil in the Norwegian Sea.
Further delays for Barossa LNG as Santos loses court appeal
Santos’ (ASX:STO) appeal to restart drilling at its Barossa gas development offshore Australia that is planned to backfill the Darwin LNG export terminal has been dismissed adding further uncertainty and delays for the project.
Woodside boss makes blunder with East Timor LNG comments
The chief executive of Australia’s Woodside Energy (ASX:WDS) appears to have made a blunder with her comments that the company is open to revisiting a greenfield LNG export development in East Timor. Significantly, the melodrama around the project will likely continue.
Updated: EU closes in on $60 cap for Russian oil as Poles hold out
The European Union is closing in on a deal to cap the price of Russian crude oil at $60 a barrel, their latest attempt to clinch an agreement before a Monday deadline, according to people familiar with the matter.
Ithaca and CNR prepping subsea decom contracts for New Year
A pair of North Sea firms are preparing belated Christmas presents for the supply chain, in the form of decommissioning contracts.
Windfall Tax: TotalEnergies to slash £100m of North Sea investment in 2023
The head of TotalEnergies’ North Sea business says the supermajor will slash investment by a quarter next year in light of the UK Government’s windfall tax, and expressed concern over the lack of a price floor built into the policy.
Gallery: Spanish coastguard save three stowaways from oil tanker’s rudder following 2,700-mile journey
The Spanish Maritime Safety and Rescue Agency saved three stowaways from Nigeria who hitched a ride on the ALITHINI II's rudder as it journeyed to Gran Canaria.
Expro clinches $50m North Sea wells contract with Apache
Energy services group Expro (NYSE:XPRO) has secured a new $50 million contract with Apache Corporation for work on its Beryl and Forties assets.
Aberdeen commercial property investment market turns corner
More than £30 million of commercial property assets recently brought to market in Aberdeen is a sign the tide has turned in the city, according to Knight Frank.
SDX CEO exits, as Bhattacherjee goes executive
SDX Energy has appointed Jay Bhattacherjee as interim executive chairman, while CEO Mark Reid is leaving immediately.
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.
Return for event linking global energy hubs in Scotland and Australia
A much-anticipated business event linking key global hubs in Scotland and Australia will return to Aberdeen for the fifth time next week.