Oil & Gas

Oil & Gas

Celtique Energie will not appeal planning decision

12/03/2015

A shale company has decided it will not appeal against decisions to refuse planning permission to explore for oil and gas at two sites. Celtique Energie had applied to drill a temporary well to test for oil and gas in the South Downs National Park, near the village of Fernhurst, West Sussex, but the application was turned down in September last year.

Europe

Greenpeace keeps pressing for full disclosure of fracking report

12/03/2015

Greenpeace has appealed to Britain's transparency watchdog, the Information Commissioner, over the UK Government’s "repeated refusal" to publish the full version of a heavily redacted report on the impacts of fracking. The environmental campaigners want ministers to release the report in full before a crucial vote by Lancashire authorities on whether to allow shale firm Cuadrilla to frack in the area.

Europe

Stronger dollar softens oil price blow for European producers

12/03/2015

After taking a battering from the crash in crude prices, Europe’s oil and gas producers are gaining some relief from the relentless slide in the euro. France’s Total, Italy’s En and Repsol of Spain will benefit most from earning revenue from oil and gas sales in US dollars, the industry’s dominant currency, while paying a large chunk of salaries, rent and other costs in euros, according to data compiled by Bloomberg Intelligence.

Australasia

Solar powered plane touches down in India

11/03/2015

The pilots of a solar-powered aircraft on an historic round-the-world journey say they want the people of India to support their campaign for clean energy to save the global environment. Bertrand Piccard and Andre Borschberg spoke to reporters in the western Indian city of Ahmadabad a day after Mr Piccard flew the single-seat plane there from Muscat, Oman.

Oil & Gas

Subsea 7 boss takes hefty pay cut

11/03/2015

Subsea 7 has refused to say if more jobs will go across its global operations after it revealed 1,000 were shed in 2014. The energy service giant is also reducing its fleet capability by 10 vessels over a two-year period as it continues to look for ways to slash costs in the wake of the big drop in oil prices.

Oil & Gas

GDF Suez gets ready for first gas from Cygnus

11/03/2015

The largest new gas field to be discovered in the southern North Sea for 25 years is expected to lead to an economic boost across the east of England and a“massive benefit for UK industry". Gas will start flowing into Bacton later this year from the Cygnus field, one of the biggest projects in the southern North Sea for years.

Europe

Quakes force Dutch lawmakers to cut gas production

11/03/2015

Dutch communities rattled by earthquakes are upending Europe’s energy market. Towns in the northern province of Groningen sit atop the continent’s biggest gas field, where the Dutch government says exploration by oil and gas majors Royal Dutch Shell and ExxonMobil has triggered 196 earthquakes since 2013, damaging buildings and making home sales difficult.

Oil & Gas

APR invests in Myanmar power plant upgrade

11/03/2015

US "fast track" power firm APR Energy has commissioned a 20 megawatt (MW) expansion of its generation plant in Myanmar. The Jacksonville, Florida-based company said the investment would provide the Myanmar Electric Power Enterprise with a guaranteed minimum of 102MW of power generation.

Oil & Gas

North Turkana’s first wildcat well disappoints for Tullow

11/03/2015

Tullow Oil's first well drilled in the large North Turkana basin in Kenya has not encountered any significant oil or gas, the London-listed company said today. But exploration director Angus McCoss said the Africa-focused firm still had a "vast amount" of undrilled acreage with identified prospects and leads providing significant remaining exploration potential.

Oil & Gas

North-east oil firm Eland gives update on Opuama output

11/03/2015

Aberdeenshire-based Eland Oil and Gas, a production, development and exploration company operating in west Africa, with a principal focus on Nigeria, said today it was benefiting from a share of 3,100 barrels of oil per day from the Opuama field. Total output from the Nigerian asset includes 1,395 barrels a day for Eland's joint-venture, Elcrest Exploration and Production.

Oil & Gas

OGUK chief lays it on the line for Ed Balls

11/03/2015

Oil and Gas UK's outgoing chief executive, Malcolm Webb, highlighted an "urgent need for regulatory and fiscal reform and improvements in cost efficiency" at a meeting with Shadow Chancellor Ed Balls today. Mr Webb, who hands over the helm of the industry body to Deirdre Michie on May 1, said: "The UK oil and gas industry is suffering from high costs, years of under-resourced regulation and a tax burden of between 60% and 80%, with the impact on competitiveness exacerbated by the collapse in oil prices.

Oil & Gas

Cairn in new battle with India’s taxman

11/03/2015

Indian tax authorities last night slapped oil explorer Cairn Energy with a £1billion draft assessment order on a business transaction in the country seven years ago. In retaliation, Cairn said it has instructed counsel to fight the notice, which the Edinburgh firm argues stems from retrospective legislation imposed in 2012.

Americas

Canada’s politicians to hear about low oil price impact

10/03/2015

Staff from the Bank of Canada and Suncor Energy are among scheduled speakers at a Canadian parliamentary committee that will review the impact of falling oil prices on the country’s economy. Executives from Canada’s energy, finance and manufacturing sectors are scheduled to speak to the standing committee on finance this week.

Americas

Is the US shale boom over?

10/03/2015

The biggest slowdown in oil drilling on record is showing signs of reining in the US shale boom. American shale oil output is expected to post the slowest growth in more than four years in April, the country's Energy Information Administration (EIA) said.

Oil & Gas

Conserve adds more than 200 pieces of new kit

10/03/2015

Aberdeen-based specialist container and tank rental firm Conserve Oilfield Services (COS) is investing more than £1.5million in new equipment to support international growth. COS, part of Centurion Group, rents out offshore containers, tanks, cargo carrying units and associated equipment and services for the global offshore oil and gas industry.

Oil & Gas

WoodMac sold for £1.85billion

10/03/2015

US data group Verisk Analytics has agreed to buy Scottish oil and gas research specialist Wood Mackenzie (WoodMac) for £1.85billion. The falling price of a barrel of oil is thought to have led to a boom in consultancy services such as that provided by Wood Mac, as energy companies seek to trim operating costs and take a more strategic look at investments.

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