Watch: Oil platform gets blown up in Norway
How to take apart an 18,000-tonne oil platform? Controlled explosives.
Oil & Gas
Dutch pension fund PMT sticks with nine oil and gas companies
One of The Netherlands’ largest pension funds said it will continue to invest in nine oil and gas companies — including Shell and BP — while dropping dozens of others.
Dolphin scraps rig contract with Nigeria’s Peak
The Norwegian drilling company flagged problems in Nigeria during its third quarter results, filed on November 28.
Norway’s new gas field highlights tensions as climate talks open
As policymakers in Dubai search for consensus on tackling climate change, the scale of the challenge is evident in the stormy waters of the North Sea, where Norway is opening another gas field.
Angola breaks with OPEC quota decision
Angola Minister of Mineral Resources, Oil and Gas Diamantino Pedro Azevedo said the decision on cuts had not been unanimous.
Orcadian agrees seven day extension with potential Pilot operator
Orcadian (AIM: ORCA) has agreed a a seven day extension with a potential operator on its P2244 licence in the Pilot field.
Prax to buy out Total from Natref refinery
“The acquisition marks another significant milestone for the Prax Group, and will create unique opportunities across the South African supply chain, meeting the needs of customers and communities for years to come.”
Oil’s wild ride is driven by a disruptive band of bot traders
While algorithmic CTAs add much-needed liquidity to the market, their trading strategies can amplify daily swings to an extreme. In 2022, when CTA trading volumes rapidly expanded, New York oil futures posted a more-than $2 daily move 242 times.
Capricorn cuts production hopes, ups receivables in Egypt
As of the end of October, outstanding receivables had reached $170mn, of which $139mn was overdue.
Waldorf not for sale as North Sea outlook improves
Waldorf Production dismissed suggestions the company is for sale, outlining a rise in production and cash flow amid an ‘improving’ outlook for North Sea M&A.
Energy services giant Petrofac sees share price plummet 50% in a month
Analysts have pointed to balance sheet concerns as a potential driver for Petrofac (LON: PFC) seeing its share price plummet 50% in the last month.
Ithaca completes acquisition of Shell’s Cambo stake
Ithaca Energy has completed its acquisition of Shell’s remaining 30% stake in the Cambo field, as it now looks to bring in a new venture partner ahead of investment sanction.
BP CEO search to drag on into new year
Reuters reported interim CEO Murray Auchincloss had privately indicated he would like to take the top job. Auchincloss was formerly BP CFO.
Europe needs more LNG to ease tight market, Uniper CEO says
“The ultimate goal is to get off gas and move to hydrogen,” Lewis said. He noted that Europe’s gas demand remains uncertain in the short term.
Prime minister visits iNPIPE PRODUCTS as it opens new Aberdeen service centre
iNPIPE PRODUCTS has hosted prime minister Rishi Sunak at its base in North Yorkshire as the firm looks to expand.
Occidental Petroleum in talks to buy CrownRock, WSJ reports
Occidental Petroleum is in talks to buy shale driller CrownRock LP, according to the Wall Street Journal, as the consolidation wave in North America’s most prolific oil field gathers momentum.
Ashtead Technology acquires Ace Winches for £53m
Ashtead Technology has acquired fellow north-east energy services firm ACE Winches in a multi-million-pound deal.
16 arrested outside after Just Stop Oil protest at Rishi Sunak’s London home
Sixteen Just Stop Oil protesters have been arrested following a demonstration outside the Prime Minister's west London home calling for a halt on fossil fuel exploration in the UK.
NSTA: £4bn of North Sea developments approved in 2023
The North Sea’s regulator said the approval of seven developments this year, worth a combined £4 billion, represented “strong votes of confidence” in the basin.
Equinor strikes sale on Nigerian asset with local buyer
“Chappal Energies is a committed Nigerian-owned energy company with the ambition to develop the assets further, contributing to the Nigerian economy for years to come.”
Gabon’s oil union threatens December strikes
“If nothing is done … ONEP will use all legal means, including a strike”, officials said.
Sulmara opens new Aberdeen office after exceeding growth targets
Subsea specialist Sulmara has opened a new north-east office after a period of sustained success saw it outgrow its existing city centre premises.
Dana warned by HSE over training and supervision at Western Isles
Safety inspectors have ordered Dana Petroleum to improve practices on its Western Isles vessel over concerns control room staff are not suitably trained to work unsupervised.
Odfjell Technology drillers strike pay deal on TAQA assets
Over 80 Odfjell Technology drillers have settled a dispute over pay and conditions on TAQA installations after securing a new deal.
Al Jaber denies using COP28 Presidency to make oil and gas deals
The head of global climate change talks starting in Dubai this week has strongly denied using his position to advance the United Arab Emirates’ commercial interests.