Chevron’s Watson sees bright future in move from dung to mopeds
Chevron Corp chief executive John Watson spends an hour talking about the future of global energy and doesn’t once mention the price of oil.
Oil & Gas
Cygnus gas field to support 1,500 Scottish jobs
A North Sea gas field is set to create 1,500 Scottish jobs and boost the UK economy £1.3billion, it has been announced. Oxford University has released a report into the huge Cygnus gas project, which started drilling at its North Sea site yesterday.
Petrofac nets $600million in profit for 2014
International oil and gas facility service provider expects to make up to $600million in profit this year. The company said the past year had been its most successful for new awards, with an ECOM (Engineering, Construction, Operation and Maintenance) order intake of $9.4billion.
Lundin’s North Sea wildcat bites dust
Lundin Norway's latest wildcat well has come up dry.
Shale boom helping American consumers like never before
Oil traders might see the 27 percent slide in global prices as a bear market. For U.S. consumers, it’s more like an early holiday gift.
Fossil fuel ‘toxic triangle’ plea
People around the world are trapped by a “toxic triangle” of fossil fuel companies, investors and governments which is driving climate change, Oxfam has warned.
OPEC’s rising oil production triggers crude price fall
Oil production from the Organisation of the Petroleum Exporting Countries (OPEC) is at its highest level since December 2013, according to a recent review.
Chevron’s deep-sea gas project faces delays
Chevron has delayed the second phase of its deep-sea natural gas project.
Reservoir targets readjusted for Horse Hill
The reservoir targets for the Horse Hill-1 well have been readjusted.
IGas Energy completes landmark acquisition
IGas Energy’s landmark acquisition of Dart Energy was officially completed today.
RWE may exclude UK assets to seal $6.5billion sale to Fridman
RWE AG may exclude UK assets from a EUR5.1billion ($6.5billion) deal to sell the German utility’s oil and gas business to Russian billionaire Mikhail Fridman’s LetterOne.
Wood Group wins carbon capture contract
Wood Group Kenny (WGK) has landed the front end engineering design (FEED) contract for the subsea and pipeline element of the Peterhead Carbon Capture and Storage (CCS) project in Aberdeenshire.
Atco seeking partners for Mexican projects in energy overhaul
Atco Ltd. is looking for partners in Mexico as it positions itself to tap the $5 billion in pipeline and power projects to be offered as part of the country’s energy industry opening.
Culzean one step closer
Maersk Oil UK has appointed a contractor to build the wellhead jacket and piles for its £3billion Culzean gas field project in the UK North Sea.
DOT: Standardisation to stop rising costs
Industry experts believe standardisation to stop costs creeping up in deepwater activities. A panel at the Deep Offshore Technology International 2014 (DOT) assessed the ways costs could be reduced within deepwater activity, with the recent decrease in oil prices, coupled with increasing cost.
BP ‘cut corners in building pipeline’
BP chose to “cut corners” when an oil pipeline was built across land belonging to Colombian farmers, then put up “a smokescreen of obfuscation" when things went wrong, a QC has said in the High Court.
Petrobras kick-back scandal takes centre stage in Brazil election debate
Brazil President Dilma Rousseff and Aecio Neves, her challenger in a tight election contest, have clashed in a feisty debate.
Expro secures $50million deal
Expro has secured a $50million contract for work offshore Australia.
OPEC: Finding US shale harder to crack as rout deepens
OPEC is resisting pressure to cut oil production while demand slumps as it tests how low prices must go to make US shale oil unprofitable. As producers become more efficient, that floor is sinking.
Farmers seek BP pipeline payout
Colombian farmers are coming to court seeking compensation from BP for serious damage they allege was caused by negligence in the building of a pipeline across their land.
Rovop invests in Europe’s subsea capital
Two subsea companies are upping their presence in the north-east with the creation of two new headquarters in Aberdeenshire’s Westhill area. The area, also known as the subsea capital of Europe, will see subsea specialist Rovop invest £4million in new purpose built headquarters, while subsea robotic company Aleron Subsea is relocating its head office from Singapore to the area.
Fears for fracking at oil site
Anti-fracking protesters fear drilling for shale gas could still take place at a site where conventional oil has been found.
Oil at the heart of Kurdish pay delay
The Kurdish government is unable to pay government salaries as the cost of battling Islamic State puts strain on the finances of a US partner in the struggle against the militant group. Peshmerga fighters have played a central role in slowing the advance of Islamic State militants even as the semi- autonomous Kurdish region of northern Iraq has been locked in a dispute with the central government in Baghdad over oil. The Kurdish Regional Government has struck deals with oil companies and collected the revenue. The Iraqi government says it should control the country’s oil deals, and has withheld the budget for the region since the beginning of the year.
Lundin jumps most in three years on oil find in Norway’s Arctic
Lundin Petroleum AB, the Swedish explorer focused on Norway, rose the most in three years after making what may be the biggest oil find in the nation’s Arctic Barents Sea, potentially accelerating development of the region’s resources.
Wood Group Mustang wins Statoil contract
Wood Group Mustang has won the pre-FEED contract for Statoil's Snorre C platform in the Norwegian continental shelf.