Oil futures advanced amid a broader bounce across financial markets while the price of actual crude plummeted to near $15 a barrel.
Aker Energy has opted to halt development work offshore Ghana in response to the coronavirus pandemic, terminating a contract for a floating production, storage and offloading (FPSO) vessel with Malaysia’s Yinson Holdings.
The Oil and Gas Technology Centre (OGTC) has been handed £3 million in funding to help it take over the duties of another energy innovation facility.
A new chief executive has today taken on the top job at North Sea operator Repsol Sinopec Resources UK.
A deal has been struck to protect hundreds, and potentially thousands, of North Sea jobs during the coronavirus outbreak.
Neptune Energy’s UK boss said on Tuesday that talk of the North Sea oil and gas industry being wiped out by a collapse in crude prices is premature.
The UK Government has approved a plan to decommission a North Sea development less than five years after first oil.
The Fatal Accident Inquiry (FAI) into a North Sea helicopter crash in 2013 has been delayed due to the coronavirus outbreak.
Subsea 7 has warned of “significant headwinds” from the dual impact of the coronavirus and plummet in oil price.
Neptune Energy bosses insist the firm is “resilient enough to meet the challenges of today” as they hunker down for a prolonged period of low oil and gas prices.
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of staunching an historic plunge in oil prices.
Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come.
Sasol has set out plans to reduce throughput at some of its plants, as South Africa goes into lockdown, while ratings agencies have become more cautious on the company’s outlook.
Energy services company Stats Group said yesterday it had strengthened its presence in Oman, with the opening of a new workshop, storage and testing facility in Muscat.
Predator Oil & Gas is biding its time in Morocco for its drilling programme as the country faces a mounting coronavirus outbreak.
The Unite trade union has applauded Bilfinger Salamis for stepping back from its earlier decision to make almost 100 workers redundant.
BP has promised its employees their jobs are safe over the next three months, while the oil major considers ways to cut costs with crude prices plunging.
Shell has warned that cash flow will take a major hit when the firm publishes its first quarter results next month.
A “virtual” remembrance service will be held tomorrow to mark 11 years since a fatal helicopter crash near Peterhead.
The latest annual report from energy services company Petrofac shows CEO Ayman Asfari took a 45% pay cut in 2019.
Oil prices plunged to an 18-year low yesterday as hopes of a production pact between Saudi and Russia faded
The Africa E&P Summit, which had been due to be held on May 20-21, has been pushed back to October 21-22.
Nigeria appears to sense an opportunity in its legal wranglings with P&ID given an alleged lack of response to the government’s allegations of fraud in an English court.
Global energy industry support services company Asco Group, of Aberdeen, said yesterday it had appointed “seasoned” executive Gary Paver as chief financial officer.
Weak demand will drive production shut ins this quarter, IHS Markit’s vice president Aaron Brady told Energy Voice, as storage options are limited.