Union calls for ‘robust inspection regime’ after North Sea platform evacuation
An offshore union has called for a “robust inspection regime” to be imposed after more than 100 workers were evacuated from a North Sea platform over structural concerns.
oil and gas
Aker Solutions warns of earnings and revenue drop in 2020
Aker Solutions has warned that revenue and earnings are expected to dip next year as it fights for work in a “very competitive market”.
Expro finds new CFO in boss who helped Tidewater out of Chapter 11 bankruptcy
Oilfield services firm Expro has found a new chief financial officer in an executive who was “critical” in helping US firm Tidewater emerge from Chapter 11 bankruptcy.
Exxon blasts New York’s climate lawsuit as trial opens
Exxon Mobil Corp.’s lawyer slammed New York’s securities-fraud case as the trial opened, saying the state “twisted” reality by conflating two internal metrics the company uses to account for the financial impact of climate change on its business.
Slow progress on creating UK fracking industry, report finds
The Government's plan to establish the UK shale gas industry through the controversial process of fracking is taking longer than expected, a new report has said.
Update: ‘Support element’ for subsea tank led to EnQuest platform evacuation
EnQuest has confirmed that the crew of a North Sea platform that was evacuated yesterday are now being flown ashore.
EnQuest should be ‘transparent’ after Thistle platform evacuation, says union boss
A union boss has called on operator EnQuest to be transparent about any structural issues with its Thistle platform in the North Sea.
Bilfinger Salamis aims to double headcount of UK inspection business
Offshore services firm Bilfinger Salamis has made two appointments to oversee plans to double the size of its UK inspection business.
First oil from Johan Sverdrup to be shipped to China
First oil from Equinor’s giant Johan Sverdrup field is to be shipped to China, the Norwegian operator has announced.
Impairments cut Halliburton’s pre-tax earnings in half
Pre-tax earnings at Halliburton were nearly halved in the first nine months of 2019 amid asset impairments and write-downs of its Venezuelan investments.
Shell Brent decom ‘compromise’ possible, says Germany
Germany’s environment ministry has said a “compromise” on Shell’s Brent decommissioning plans may be possible but leaving any oil remains is “not acceptable”.
Schlumberger posts £9.3billion loss as it takes heavy impairment charges
Heavy impairment charges led Schlumberger to a loss of £9.3billion before tax in its third quarter results.
Residual liability rule could be ‘key part’ of Shell’s Brent debate
A rule placing liability on operators for any post-decommissioning incidents could be a “key part” of the Shell Brent debate, according to a petroleum economist.
Climate fears ‘could prompt more investors to move money to ethical funds’
Climate concerns could prompt more investors to move their money to ethical funds which support the positive changes they want to see, a survey suggests.
Brent decom debate: Evidence vs Emotive
As someone with a keen interest in decommissioning decision making, I have followed the Brent decommissioning saga with that same keen interest.
Trump claims to have ‘taken control’ of Middle East oil
President Donald Trump prompted a bout of head-scratching when he said the U.S. had control of the Middle East’s oil.
Ineos reopens Forties pipeline after lightning strike
A lightning strike in Aberdeenshire caused the temporary shutdown of a major North Sea pipeline today.
Shell’s Brent decom plans are ‘litmus test’ for Ospar – German government
Germany has said a special meeting on Shell’s Brent decommissioning plans will be the “litmus test” for a convention to protect Europe’s marine environment.
Delek seeking funds from commodity traders to complete Chevron North Sea acquisition
A unit of Delek Group Ltd. is seeking alternative means of financing to complete its $2 billion acquisition of some of Chevron Corp.’s North Sea oil and gas assets after initial funding arrangements hit stumbling blocks, according to people familiar with the matter.
‘Commercial pressures’ drive loss for Babcock’s UK offshore businesses
Helicopter operator Babcock has said “continued commercial pressures” saw its UK offshore oil and gas business swing to a loss last year.
SBM completes financing of FPSO for Exxon’s Liza field
SBM Offshore has completed financing of $1.14billion (£886m) to pay for the vessel which will serve ExxonMobil’s giant Liza field off Guyana.
Shell handed safety notice over refuge area on North Sea platform
Shell has been dealt with a safety notice after failing to properly ensure workers would be protected during an emergency on a North Sea platform.
‘We must accept change is coming’ – RMT offshore boss on energy transition
The leader of RMT’s offshore branch believes it will continue to operate for at least another 30 years but must accept “change is coming”.
Winners and losers of the energy transition
The oil and gas industry currently finds itself in a situation which is far from comfortable.
Production resumes at Buzzard oil field
Production has been resumed at the largest-producing oil field in the UK following a shut down.