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Insights

EV Insights: The UK’s energy revolution

24/06/2015

As the UKCS celebrates 50 years of oil and gas in the North Sea take a look at how many oil and gas facilities now dot the seascape. This interactive infographic shows offers a glimpse of the energy make up from 25 years ago. In comparison to 2014, coal was the predominant force 25 years ago in energy consumption in the UK at 67%.

Oil & Gas

Norway oil rig unions in last-chance talks to avoid strike

24/06/2015

Norwegian oil-rig unions and employers started government-backed mediation on Wednesday in a final bid to avoid a strike that could shut down two North Sea oil fields. Talks started at 10 a.m. Oslo time, said Benedikte Naess, spokeswoman for the Norwegian Shipowners’ Association, which is representing employers. If the parties fail to reach a deal by midnight, 189 workers will go on strike on two Teekay Corp.- owned production ships on the Knarr and Varg fields starting Thursday, the SAFE union has said. Those fields represent less than 2 percent of Norway’s total oil and gas production.

Middle East

Qatar Petroleum eyes foreign expansion after restructuring

24/06/2015

Qatar Petroleum plans to expand overseas after a restructuring that included the takeover of its foreign investment arm and the firing of some foreign workers. “We are very ambitious internationally,” Saad Sherida al- Kaabi, chief executive officer at the world’s biggest producer of liquefied natural gas, told reporters Tuesday in Qatar’s capital, Doha. “We are focusing on the upstream business,” he said, declining to provide details.

Oil & Gas

New federal fracking rules delayed by US judge in Wyoming

24/06/2015

New U.S. fracking safety rules set to take effect Wednesday were put on hold by a Wyoming federal judge who said he needed more evidence to decide whether to block them as requested by drillers and four western states. Before a courtroom audience in Casper that included the state attorneys general of Wyoming and North Dakota, U.S. District Judge Scott Skavdahl said he couldn’t grant or reject a bid for a longer-lasting order because he needed more information about the federal government’s process for making such rules.

Americas

Brothers hunt gas (and gators!) as CEOs of rival shale empires

24/06/2015

Here’s a question most brothers might have answered with the gun option: Do you jump on that 9- foot alligator or do you do the more sensible thing and shoot it in the head, given that it weighs a few hundred pounds and could bite you with the force of, say, 12 pit bulls? If you’re the Lawler brothers, who did not get to be two of the hardest-nosed CEOs in the oil industry by making easy decisions, there was only one answer: Jump on it! So they did—Doug first, of course, since, as he likes to note, he is 17 months older than his “little brother,” Dave.

Oil & Gas

Cuadrilla decision due today

24/06/2015

uncillors will decide today on whether to give the green light to fracking for shale gas in Lancashire. Energy firm Cuadrilla wants to develop two new sites between Preston and Blackpool to explore for shale gas by drilling, fracking and testing the flow of gas.

Oil & Gas

E.ON to put North Sea assets up for sale

German utility E.ON is set put its North Sea and Algerian oil and gas assets up for sale, hoping to raise an estimated £1.25billion as it restructures its business. E.ON, which operates a number of North Sea fields including Huntington, also has production interests in the Elgin, Franklin, Glenelg and West Franklin fields.

Oil & Gas

Councillors told ‘be brave’ ahead of Cuadrilla fracking decision

23/06/2015

Residents living near a proposed fracking site have urged councillors to “be brave” and refuse to give it the go-ahead. Energy firm Cuadrilla wants to develop two new sites between Preston and Blackpool to explore for shale gas by drilling, fracking and testing the flow of gas. A report from Lancashire County Council planning officials recommended that one of the sites - at Preston New Road near Little Plumpton - be passed subject to a number of conditions being met such as hours of working, control of noise and highway matters.

Americas

The Obama administration’s fracking high noon has arrived

23/06/2015

High noon for the Obama administration’s stricter rules for fracking on public lands has arrived on the Wyoming range. Four western states at the center of the shale oil boom are headed for a courtroom showdown Tuesday over who should have the last word on rules for extracting oil and natural gas from federal property within their borders.

Oil & Gas

Petrofac’s share price jumps despite Shetland woes

23/06/2015

Petrofac’s share price rose nearly 10% to 939p despite mounting costs. The firm confirmed staffing issues, work delays and harsh weather conditions led to an additional £30million in incurred costs for its Laggan-Tormore project . The bloated expenditure brings the company’s total loss in the year to date to £140million.

Americas

Itochu exits US shale selling biggest energy purchase for $1

23/06/2015

Itochu Corp. ended its $1 billion foray into U.S. shale by selling its 25 percent stake in Samson Resources Corp. back to Samson for $1. The sale reverses the Japanese trading company’s biggest purchase of an energy asset when it was made in 2011. The decision to exit was made because of the state of operations at Samson and the outlook for gas prices in North America, the Tokyo-based company said in an e-mailed response to questions.

Oil & Gas

How the European oil industry decided to save the climate

23/06/2015

It came together in Oslo. The chiefs of some of Europe’s biggest energy companies decided to pull an historic about-face. It was time to heed the protesters marching in the February snow outside their industry conference demanding action to counter global warming. By the time the convention chat turned into action, Royal Dutch Shell Plc, BP Plc, Total SA, Eni SpA, Statoil ASA and BG Plc, published an unprecedented open letter on climate change. Breaking with their biggest U.S. competitors, they announced their support for efforts to put a cost on polluting, acknowledging they were on the wrong side of history.

Oil & Gas

Petrofac’s Laggan-Tormore project costs skyrocket

23/06/2015

Petrofac confirmed mounting costs from its Laggan-Tormore project will see its profits “significantly weighted” towards the second half of the year. The firm detailed an additional £30million of costs it has incurred with the flagship gas development in the Shetland Islands, bringing their total loss in the year to date to £140million.

Americas

Ship captains steaming to Houston need bait, tackle, endurance

23/06/2015

The most useful thing for an oil-tanker captain heading to Houston right now might be a fishing rod. That’s because they’re going to have to wait an average of four days, or eight times longer than usual, to unload as Houston’s storage tanks fill with record amounts of U.S. oil extracted from shale. U.S. ports and waterways are grappling with the highest crude stockpiles and fuel exports in decades. “There’s a lot more oil on the water,” Erik Broekhuizen, the head of tanker research at Poten & Partners, a shipbroker that specializes in energy, said by phone June 16 from New York. “There are some inefficiencies in the system where ships are left waiting to discharge.”

Oil & Gas

Councillors to discuss Cuadrilla fracking plans

23/06/2015

Councillors will meet today to discuss plans to frack for shale gas. Energy firm Cuadrilla wants to develop two new sites between Preston and Blackpool to explore for shale gas by drilling, fracking and testing the flow of gas. A report from Lancashire County Council planning officials recommended that one of the sites - at Preston New Road near Little Plumpton - be passed subject to a number of conditions being met such as hours of working, control of noise and highway matters.

Oil & Gas

OIS wins decommissioning contract with Antrim Energy

Offshore Installation Services (OIS) has been awarded a contract by Antrim Energy to decommission four subsea wells in the central North Sea. The scope of the campaign, which also includes six wells from Centrica Energy, will include offshore and onshore project management, vessel charter, equipment and personnel.

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