An Aberdeen oil worker who was recently made redundant from Halliburton due to Covid-19 has now set up his own hand sanitiser business to help tackle the virus.
oil and gas
A pair of oil rigs lying idle in Invergordon sank Awilco Drilling to losses of £7.5million in the first quarter of 2020.
Offshore workers have said they’ve been “dumped” by a major recruitment firm after it decided not to offer the UK furlough scheme due to holiday pay concerns.
Oil edged higher as signs of a recovery in demand continued to surface following the easing of virus-led lockdowns in some regions, while Saudi Arabia pledged to cut production further.
New analysis has outlined “huge concerns” for UK taxpayers around whether oil and gas firms will be able to meet their hefty decommissioning costs, with some rising above their company market values.
The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s $11.10 per barrel, a Rystad Energy impact analysis reveals.
When the pandemic is all over will society go back to driving cars and hopping on planes with nary a worry as it did just two short months ago?
The energy world is riven by many contradictions that are making the climate change-driven transition to a low-carbon world difficult.
Drilling contractor Archer is to cut between 12-15% of its global workforce of 5,000 as a result of the oil price crash and Covid-19 pandemic.
An annual mentoring programme for project managers in the UK oil and gas industry has launched for a sixth consecutive year.
A warrant to demolish the former Amec Foster Wheeler building in the south of Aberdeen has been approved.
Maersk Drilling has announced it plans to make up to 170 onshore job cuts as it adapts to the Covid-19 outbreak and oil price crash.
Nicola Sturgeon has admitted there is “a long way to go” before the standard of home testing for offshore workers meets expectations.
DNO, the Oslo-listed exploration firm which took over Aberdeen's Faroe Petroleum, has announced it is reducing staff “in all locations” in response to Covid-19 outbreak and oil price crash.
Houston oil field services company Halliburton has laid off 1,000 employees at its headquarters as low crude prices take their toll on demand for the products and services to company sells to energy producers.
Norway’s Equinor saw its profits slide by 98% - a drop of £3.8billion – year-on-year as the Covid-19 pandemic and oil price crash took effect.
Workers facing redundancy are being urged to seek independent financial advice to plot the best road ahead.
Energy services firm Petrofac has said it has safeguarded nearly 200 jobs with a pair of contract renewals.
Oil and gas firms are “grappling” between putting workers on the government’s coronavirus furlough scheme or going straight to redundancies, according to experts.
Jersey Oil and Gas has said it plans to launch a farm-out process later this year for its Greater Buchan Area in the North Sea, despite the Covid-19 and oil price crises.
As the UK oil and gas sector predicts up to 30,000 job losses over the next 12-18 months, Catriona Ramsay of Aberdein Considine sets out workers' legal rights.
A South African oil-exploration company has turned to U.S. courts in a bid to enforce a $619 million arbitration award against the Democratic Republic of Congo.
Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate, cut capital spending and withdrew its guidance for the year after a historic collapse in oil prices.
The UK’s Job Retention Scheme has proved a lifeline for many employers and a way to ensure employment is protected while oil and gas firms deal with the double hit of Covid-19 and the drastic fall in oil price. The uptake figures demonstrate the need for the scheme, with over nine million people in the UK expected to be furloughed, yet the decisions to furlough staff have often been made quickly with little planning for the scheme ending.
Cashed-up Asian NOCs are actively screening international assets and companies for once-in-a lifetime acquisition opportunities amidst the global downturn.