ASH success underscores United’s Egypt move
United Oil & Gas’ purchase of Rockhopper Exploration’s stake in Egypt’s Abu Sennan licence has been pushed back, but the results from a recent well make clear the rationale behind the deal.
Oil & Gas
Transformation on the cards for struggling offshore supply chain, Woodmac says
With margins staying “razor thin” and cost pressures continuing to bear down, the offshore supply chain may take on a “whole new look” this year, according to a Wood Mackenzie analyst.
Glencore lines up to take FAR’s Sangomar crude
Australia’s FAR has signed a deal to allocate its share of crude from Senegal’s Sangomar field to Glencore Energy.
Vaalco output rises on continued Gabonese success
Texas-based Vaalco Energy’s production in Gabon is more than 6,000 barrels per day of oil, up 73% from its 2019 average.
Woodmac exploration outlook: Move from ‘Big Oil to Big Energy’ under way
The move from “Big Oil to Big Energy” is under way as the energy transition puts extra pressure on explorers, an analyst has said.
Baker Hughes closes 2019 with a profit while peers report huge losses
Houston oilfield service company Baker Hughes closed 2019 with a profit at a time when peers in the troubled sector are reporting multibillion dollar losses.
Blackstone gets final bids for North Sea oil producer
Siccar Point Energy Ltd., the North Sea oil producer backed by Blackstone Group Inc., has received final bids from suitors including Chrysaor Holdings Ltd. and Equinor ASA, people with knowledge of the matter said.
Egypt to Reduce LNG Cargoes for Sale as Gas Prices Plummet
Egypt is planning to reduce the number of spot liquefied natural gas cargoes it offers and to negotiate long-term sales deals with customers instead, because of plummeting prices.
Australia leads in bumper year for Asia Pacific FIDs
Looming wave of final investment decisions (FIDs) will provide massive boost for offshore oilfield service sector in Southeast Asia
SDX drills ahead in Egypt, Morocco
SDX Energy is set for a year of growth, although there are some concerns about impairments that might see it relinquish one of its longest-term producing assets.
‘Upswing’ for offshore mental health but morale better on two-week rotas – oil chaplain
The North Sea's oil chaplain detects an “upswing” on mental health awareness offshore, but morale tends to be improved on installations with two-week rotas.
Transocean pushing for jail time despite favourable North Sea ruling, Greenpeace claim
Drilling contractor Transocean is understood to pushing for jail time and fines against Greenpeace bosses, despite receiving a favourable ruling halting any further North Sea action.
SSE announces plans to axe Peterhead Power Station jobs
Energy giant SSE has announced it is slashing jobs at a north-east power station following years of uncertainty.
North Sea chaplain expects Church of Scotland to make ‘wrong decision’ to divest from fossil fuels
The North Sea’s oil and gas chaplain believes the Church of Scotland will make the “wrong decision” in coming years to divest from fossil fuels.
New Flowline Specialists boss says renewables growth backs up diversification call
North-east energy services firm Flowline Specialists has delivered its first set of results under new boss Ross Whittingham, who said growth in renewables work vindicated its decision to diversify.
Shell agrees farm-in for UK North Sea licences
Oil major Shell will farm into a pair of UK North Sea licences currently held by Egdon Resources.
Insurance out of step with African piracy risk
Higher insurance premiums for maritime work in the Indian Ocean is out of step with reality, according to Dryad Global’s annual report.
Tesla hits $100bn mark Elon Musk must sustain for big payout
Tesla Inc.’s market value briefly crept above $100 billion for the first time, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.
The US is set to experience yet a new energy revolution: Offshore Wind
Installed offshore wind capacity in US waters could reach 20 gigawatts (GW) by 2030 and annual investments in the sector could surpass $15 billion by the mid-2020s, according to Rystad Energy.
Egypt signs off on exploration commitments
Egypt has signed deals with four companies for exploration in the Western Desert and Mediterranean Sea.
Lekoil wins time following QIA scam
Lekoil has won some breathing space at OPL 310 where it had been due to stump up some cash in February that it could ill afford following a botched financing deal.
Belarus starts importing oil from Norway amid rift with Russia
Belarus has started importing oil from Norway after its main oil provider, Russia, suspended supplies earlier this month amid stalled talk on further strengthening economic ties between two countries.
Fracking is over for the time being, says business minister
Business minister Kwasi Kwarteng has said fracking "for the time being is over" in the UK.
McDermott will seek bankruptcy, enters pact to sell Lummus unit
McDermott International Inc. will file for bankruptcy after the engineering and construction company reached an agreement with creditors to tackle debt acquired through a botched acquisition.
Halliburton closes 2019 with $1.7bn loss in Q4
Houston oilfield service company Halliburton made a $1.1 billion loss in 2019 amid an ongoing shale slump in the United States that has weakened demand for hydraulic fracturing and related services.