Covid-19 may stunt electricity demand for years
Electricity demand is unlikely to return to normal levels even after the development of a coronavirus vaccine, according to a new report by scientists from Columbia University.
Covid-19
Hunting cuts global workforce by 30% since start of year in response to ‘challenging environment’
International energy services provider Hunting has made further job losses as it continues to battle the dual impact of the Covid-19 pandemic and the oil price slump.
Unburdened by huge write-offs and impairments, BP returns to profit in third quarter
Energy giant BP returned to profit in the third quarter of 2020 as the firm benefitted from the absence of the huge write-offs and impairments which dented its previous results in August.
Aberdeen engineering firm believed to have laid off quarter of workforce
An Aberdeen-based subsea engineering and decommissioning services provider is believed to have laid off around a quarter of its workforce.
Report highlights ‘very worrying signs’ for North Sea employment
Industry body Oil and Gas UK (OGUK) said today it is seeing “very worrying signs” for employment in the North Sea sector.
Shell announces plan to begin pre-mobilisation Covid-19 testing, confirms outbreak on Brent Charlie
Shell has announced plans to begin testing North Sea workers for Covid-19 before they head offshore.
Dwindling dividends could encourage oil and gas investors to favour renewables
Low prices and dwindling dividends could encourage more investors to move away from oil and gas in favour of renewables, according to a leading oil and gas lawyer.
Bilfinger Salamis had ‘particularly strong year’ before Covid-19 hit
Bilfinger Salamis was having a “particularly strong year” before Covid-19 struck the oil and gas industry, new accounts have revealed.
Shipyards face ‘brutal’ £11.6billion losses over unwanted offshore rigs – Bassoe
Shipyards are facing “brutal” $15.2billion (£11.6bn) losses over new-build offshore drilling rigs that no one wants, according to Bassoe Offshore.
Baker Hughes ‘intensely focussed on improving’ as firm stays deep in the red
Baker Hughes has said it remains “intensely focussed" on improving its "margin and return profile" as it stayed deep in the red in the third quarter.
‘Not coping’: HSE slams firms over offshore Covid risk to crew
The UK’s workplace safety watchdog has accused two offshore energy sector firms of putting crew at “serious risk” of catching Covid-19.
Increasing manning levels ‘only way’ to address North Sea maintenance backlog
Increasing manning levels offshore is the "only way" the North Sea sector will be able to clear its growing maintenance backlog, according to oil and gas safety chiefs.
A new normal for energy?
COVID-19 has changed the world in many ways and energy hasn’t been excused. In early 2020, there was a perfect storm of excess supply and massive reductions in demand. Since then, the market has become far more balanced and the oil price seems to be tightly bound in a narrow price range.
Offshore sector records highest weekly Category B cases since start of Covid outbreak
The UK North Sea has recorded its highest weekly spike in offshore “Category B” cases since the country went into Covid lockdown in March.
Cheaper renewable power may drive economic recovery, Lazard says
Wind and solar power have become even cheaper compared to fossil fuels in the past year, making them an attractive way to stimulate economies recovering from the Covid-19 pandemic, according to Lazard Ltd.
BP to make 7,500 of global job cuts compulsory – report
BP will make 7,500 of its planned global job cuts compulsory after roughly 2,500 workers applied for voluntary redundancy, according to a news report.
Oil slips with global virus surge depressing demand rebound
Oil clung to losses with signs of a shaky U.S. economic rebound and rising global coronavirus cases weighing on the prospect for a demand recovery.
Schlumberger completes plan to axe 21,000 jobs
Schlumberger has completed its plan to cut 21,000 jobs in response to the oil downturn, according to its latest accounts.
North Sea industry ‘still in control’ despite recent Covid resurgence
North Sea safety bosses have insisted the oil and gas industry is “still in control”, despite a recent resurgence of Covid-19 offshore.
Oil pares losses after U.S. crude and fuel supplies decline
Oil pared losses as shrinking American crude and refined product stockpiles countered troubling signs of a slowing labor market recovery.
Covid breakout on Taqa Brae platforms sees 18 workers flown ashore
Eighteen offshore workers have been removed from the Taqa Brae platforms after several positive Covid-19 cases.
Workers removed from Shell platform on two occasions in matter of days over Covid-19 fears
Workers have been flown off a platform in the Central North Sea over fears about an outbreak of Covid-19 on board.
Crew flown off BP North Sea platform after Covid case
Workers have been removed from a BP North Sea platform after a positive Covid-19 case on board.
Workers removed from North Sea platform after colleague tests positive for Covid-19
More than a dozen workers have been removed from a North Sea platform after a colleague tested positive for Covid-19.
Greenpeace fails legal move against decision on BP North Sea oil field
Greenpeace has failed in its legal move against government approval of a BP oil field in the North Sea.