Vaalco sets out opportunities and appetites
Vaalco Energy has a new CEO and a strategy that aims to place the company among its West Africa-focused peers on the London market.
Oil & Gas
Sasol sells Rompco stake to Reatile, AIIM
South Africa’s Reatile Group and African Infrastructure Investment Managers (AIIM) have teamed up to buy a 30% stake in Sasol’s Mozambique pipeline.
Seadrill wins Angola work for Quenguela
Seadrill has won a 12-well contract in Angola via its local joint venture with Sonangol EP.
Aberdeen harbour’s lockdown turnover falls to £33m
Aberdeen Harbour Board (AHB) said it has “weathered the storm” of downturn caused by the pandemic despite taking a hit on revenues.
UK energy minister to highlight Global Underwater Hub in Aberdeen at Subsea Live
The UK’s energy minister has been booked to give the opening address at Subsea Live later this month.
New Scot Gov faces ‘careful’ balancing act between recovery and transition, says energy chief
The new Scottish Government needs to strike a “careful balance” between economic recovery and energy transition in order to protect jobs, according to an industry chief.
Wood shares fall more than 6% as firm predicts subdued 2021
Shares in Wood dropped by more than 6% today, with the global engineering and consultancy firm sticking to its prediction of a fairly subdued 2021.
Nigeria ports spat sees NPA head suspended
Nigeria has suspended the head of the ports authority amid claims that she provided unfair dispensations to Dangote Group.
Neptune overcomes production drop to boost profits by two-thirds
Higher oil and gas prices, tax refunds and “tight cost control” helped Neptune Energy overcome a drop in production to lift its profits by two-thirds in the first quarter.
Burness Paull eyes energy growth with appointment of sector expert
Law firm Burness Paull is targeting growth for its energy business after pulling off a “coup” with the appointment of Bob Ruddiman.
Kurdistan to cut payments to producers
Kurdistan has told producers that it is cutting payments for oil production, in light of continued pressure from COVID-19.
TechnipFMC, Energies deny Mozambique reports
TechnipFMC has rejected some claims around its Mozambique LNG work.
Oil jobs unappealing to next generation, BDO warns
Young people considering working in energy overwhelmingly prefer the opportunities of the renewables sector to oil and gas.
Safety fears as Maersk Drilling clamps down on unpaid leave for ‘worn out’ expats
Expats on a rig off western Australia have warned that safety would be compromised after Maersk Drilling was forced to “reassess” unpaid leave requests amid the country’s strict Covid regime.
Westwood Global tips high-impact drilling to bounce back after record slow start to year
Global high-impact drilling is expected to “bounce back” in the second half of 2021 after a record slow start to the year.
200 jobs at risk on Seadrill rig after contract termination – union
Around 200 jobs are at risk on a Seadrill North Sea rig after a spate of safety incidents saw its contract terminated, a union has said.
Awilco back in black in Q1, HMRC tribunal hearing set for next month
Awilco Drilling is back in the black after posting pre-tax profits of $1.28 million (£904k) for the first quarter of 2021.
‘Final farewell’ as Banff FPSO arrives in Denmark for decommissioning
Teekay has bid a “final farewell” to the Petrojarl Banff FPSO, which has now arrived in Denmark for decommissioning.
Gaza rockets strike Israeli oil tank
Rockets fired from Gaza hit a tank in Israel on May 11, causing a fire that continues to burn.
Petrofac chief financial officer set for pastures new
Petrofac said today that its chief financial officer, Alastair Cochran, will leave the energy services firm.
EnQuest bid to refinance for Golden Eagle deal ‘on track’, Magnus hit by outages
EnQuest said today that it is “on track” to refinance its senior credit facility, paving the way for it to complete a North Sea acquisition.
‘All-subsea’ development among the options for BP at Clair South
Energy giant BP has confirmed that a subsea development is among the options being weighed up for its Clair South project, west of Shetland.
Analyst upgrades Velesto after rig working for ConocoPhillips sinks off Malaysia
The sinking of Velesto Energy’s NAGA (dragon) 7 jack-up rig offshore Malaysia has prompted investment firm CGS-CIMB to upgrade the drilling company as the closed-door investigation into the accident continues.
Former BP director set to be jailed in Singapore for corruption
A former director of BP’s marine fuels business in Singapore has been sentenced to 54 months in jail and ordered to pay about US$4.7 million for his role in a graft case involving close to US$4 million (S$5.3 million) while working for the supermajor.
Seadrill Partners wins more Malaysia drilling with West Capella
Seadrill Partners will use its West Capella drillship to drill four wells offshore Malaysia for an unnamed client in a deal worth about $43 million.