Indonesia’s Medco Energi has started international arbitration at the ICC against the National Oil Company of Libya to enforce its contractual rights under an exploration and production sharing contract, as well as protect its right to benefit from its investment in Area 47 in the north African nation.
Oil & Gas
Aberdeen firm Craig International has secured a major contract with Ineos FPS, potentially valued at over £20 million.
Energy services firm Centurion Group reversed major year on year losses to finish 2021 on a solid financial footing.
Negotiations between Unite the Union and Lerwick Port Authority (LPA) to avert a hugely damaging strike at the harbour on Monday seem to have collapsed.
A popular lunch highlighting the close ties between the Granite City and its North Sea neighbour, Norway, takes place as a face-to-face event on Monday.
Equinor is studying the potential for a new 1GW wind farm to power a series of oilfields in the North Sea.
Engineering giant Wood (LON: WG) has announced the appointment of a new executive president of its consulting business.
ADNOC has awarded a $173 million EPC contract to unlock further production at the Asab oilfield.
A rise in interest rates has sparked fears that rising costs for home owners and buyers will dampen the market – although Aberdeen might resist this trend as the energy market heats up.
North Sea operator EnQuest is searching for a new chairman after incumbent Martin Houston announced his intent to step down.
Harbour Energy (LON: HBR) has launched a $200m share buyback scheme, a move which could boost investor confidence following a windfall tax hit last month.
The boss of Aberdeen-headquartered Plexus Holdings (LON: POS) is forecasting a “significant resurgence” in North Sea activity.
The former Scottish energy minister has called for the NSTA to be the “lead body” in a regulatory clear up for the North Sea.
First Gen’s Interim Offshore LNG Terminal project in the Philippines has been delayed and the company has asked BW Gas to delay the delivery of the floating storage and regasification unit (FSRU) BW Paris from Q1 2023 to end of Q2 or early Q3 2023.
Gazprom and CNPC have signed a technical agreement on the Far East route for supplying Russian gas to China, Gazprom said in a statement. The pair signed a long-term gas supply deal in February underpinning the construction of a pipeline from Russia’s Far East into China, underscoring Moscow’s strategic pivot to Asia.
Chevron (NYSE:CVX) plans to spend about $2.5 billion building up its hydrogen business this decade as the oil major accelerates investment in low-carbon technologies.
Russian gas giant Gazprom is benefiting from soaring prices in Europe even if shipments to its biggest market are now lower, according to Chief Executive Officer Alexey Miller.
A resurgent oil and gas industry is driving an “extremely competitive” recruitment market while jobs in the renewable and digital sectors grow but at a slower pace.
Energy major Eni has been named the upstream industry’s most-admired explorer in Wood Mackenzie’s annual Exploration Survey, and scooped discovery of the year for its find at Baleine.
Offshore solutions provider James Fisher Subtech (JF Subtech) has successfully completed a contract for North Sea oil firm NEO Energy.
Altrad has secured a multi-million pound contract to support the fabric maintenance of TotalEnergies’ (LON: TTE) offshore assets in the Danish North Sea.
Equinor and Centrica have signed an agreement which will see the Norwegian company deliver an additional 1 billion cubic metres (bcm) of gas supplies to the UK in time for this winter.
Prosafe has won a $3.7 million contract for its Safe Boreas flotel in the UK North Sea.
A “rewriting” of energy trade flows is now underway according to Wood Mackenzie analysts, as Europe's move to wean itself off exports from Russia boosts investment in energy transition and LNG, but increases supply chain risks.
Industry stalwart Sian Lloyd Rees has joined the board of the Net Zero Technology Centre (NZTC).