Saudi Aramco ditched around one third of its jackups this week in a sign that the oil-rich state is demonstration of a move away from some of its grandiose visions. The market remains tight, with South East Asia likely to provide a home for spare capacity. Whether the North Sea, beset by windfall tax woes, can secure some of these newly idle jackups remains to be seen.
The CEO of Harbour Energy (LON: HBR), the UK’s largest oil and gas producer, earned an overall pay package of £2.4m last year, new figures have revealed.
Drax is to explore a tie-up with the developers of the Viking carbon capture and storage (CCS) project which could see an additional route for sequestering biomass emissions.
The developers behind the Viking carbon capture and storage (CCS) project have awarded a front end engineering and design (FEED) contract to French firm Technip Energies.
Harbour will emerge with “stronger credit, we expect to reach investment grade credit on completion, which will give us access to lower-cost capital for future growth”.
Shares in Harbour Energy fell on Thursday after warning an “unusually high level” of North Sea shutdowns and deferred drilling will hit its production levels.