gas companies

Oil & Gas

Non-essential work cancelled


Two major oil and gas companies are to suspend all "non-essential" work carried out on their North Sea platforms as helicopters remain grounded following an emergency ditching last week.

Oil & Gas

Investment slashed as incomes slide

Investment is being slashed by tens of billions of dollars across the oil&gas sector, largely as a result of the precipitous drop in prices since July, 2008. Global upstream budgets are falling for the first time in 10 years, according to the International Energy Agency.

Oil & Gas

Upstream construction costs rocket

COSTS associated with constructing new oil&gas upstream facilities have reached a new record high, according to the latest IHS/Cambridge Energy Research Associates (CERA) Upstream Capital Costs Index. They are up 6% over the past six months and have doubled since 2005.