PTTEP pressing on in Myanmar despite delays
Thailand’s PTT Exploration & Production (PTTEP) is managing to maintain its upstream oil and gas production obligations in Myanmar despite recent turbulence in the country that has delayed some activities.
oil
Indonesia eyes giant offshore decommissioning wave
Indonesian upstream regulator SKK Migas is preparing a strategic plan covering the decommissioning of more than 100 upstream oil and gas platforms in Southeast Asia’s largest producer of hydrocarbons.
Oil closes out wild week with rally intact as bulls fight back
Oil held the bulk of a three-day advance to trade above $71 a barrel amid optimism that rising demand will tighten the global market.
Transocean rig could keep drilling off Myanmar for POSCO
Transocean’s Deepwater Nautilus semi-submersible unit looks set to keep drilling offshore Myanmar for South Korea’s POSCO after the Swiss-based driller announced a contract extension.
The Saudi prince of oil prices vows to drill ‘every last molecule’
Prince Abdulaziz bin Salman is the most powerful man in petroleum. The Saudi oil minister navigates unruly OPEC+ nations, huge swings in prices — and the end of fossil fuels.
Centrica ‘simplifying’ Spirit Energy sales process
Utilities firm Centrica said today that it was simplifying the sales process for its upstream exploration and production (E&P) business, Spirit Energy.
UK govt oil revenues fall 70% as price crash and decommissioning take effect
UK government revenues from oil and gas taxes have plummeted by more than 70% due to effects of the recent price crash and decommissioning repayments.
Brent steadies near 8-week low after market selloff on Delta
Brent oil was steady after tumbling to an eight-week low amid a broader market rout stoked by a Covid-19 resurgence, which has raised concerns about the short-term outlook for energy demand.
Oil plunges as OPEC+ adds new supply
Oil led losses in a broad market selloff while a resurgent virus threatened the global economic recovery just as OPEC+ agreed to boost crude supply.
Ted Strachan: The man who broke story of North Sea oil find dies aged 91
One of the North-east's best-known journalists, and The Press and Journal reporter widely acclaimed for being the first to bring news of the North Sea oil boom, Ted Strachan, has died at the age of 91.
Cambo oilfield protestors occupy UK Government building in Edinburgh
A dozen activists have staged a protest at a UK Government building in Edinburgh in hope of convincing ministers to reject proposals for the Cambo oilfield, west of Shetland.
West’s energy transition narrative ignores the reality in Asia
BP’s latest review of energy use has been presented as positive developments in carbon reduction. However, the facts remain that fossil fuels continue to provide most of the world’s energy needs and that developing Asia is driving demand.
Singapore prepares to swap its oil hub status for greener future
Royal Dutch Shell announced late last year it would slash capacity by half at its biggest oil refinery. For Singapore, where the plant has been a mainstay of the economy for six decades, it marked a turning point in one of the most successful bets on fossil fuels in history.
Oil edges higher as investors bet demand will keep climbing
Oil rose on optimism that fuel demand will keep rising and tighten the market, despite a Covid-19 resurgence in many regions.
Shell abandons push for oil spill case to be heard in Nigeria
Shell has abandoned its final attempt to argue that a major lawsuit brought by thousands of Nigerians over an oil spill in the West African country should be heard in Nigeria rather than the UK.
UN rights expert urges sanctions on Myanmar oil and gas
A United Nations (UN) human rights investigator has urged countries to impose economic sanctions on Myanmar’s oil and gas sector to cripple the military junta that seized power in a coup five months ago, reported Reuters.
Oil and dollars: why the UAE is risking a falling-out with OPEC+
The OPEC+ oil cartel is facing its biggest crisis since a price war at the start of the coronavirus pandemic.
Lifting of Iran sanctions to spark fight for oil market share in Asia
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
OPEC+ crisis deepens as Saudi Arabia refuses to budge
Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.
Robots primed to deliver step change in offshore energy industry safety
The rise of the machines – it’s not something that’s ever portrayed in a positive light in Sci-Fi movies or novels. But a new legion of souped-up robots is getting ready to boot up and make the offshore energy sector safer, keeping us out of harm’s way.
Industry collaboration on carbon capture is key to unlock net-zero economy
Carbon capture and storage (CCS) is seen as an essential requirement by the oil and gas industry for it to meet the targets of the Paris Agreement, however the only way it will become commercially viable is if companies collaborate to create shared-CCS hubs, according to Wood Mackenzie.
OPEC+ oil deal hangs in the balance as key member rebels
The OPEC+ alliance descended into bitter infighting after a key member blocked a deal at the last minute, forcing the group to postpone its meeting and casting doubt on an agreement that could ease a surge in oil prices.
‘In the driving seat’: DNeX earmarks £51.4m for Anasuria Cluster after completing Ping deal
Malaysian firm Dagang NeXchange (DNeX) said it had earmarked £51.4 million for production boosting work at the UK North Sea Anasuria Cluster after completing the acquisition of compatriot Ping Petroleum.
Crystal Amber says Bluewater ‘very keen’ to discuss longer stay for FPSO on Hurricane’s Lancaster field
Activist investor Crystal Amber says Bluewater Energy is “very keen” to discuss options for keeping its Aoka Mizu vessel on Hurricane Energy’s Lancaster field.
Hurricane non-exec directors jump ship ahead of key votes, CEO to stay on
Troubled UK oil producer Hurricane Energy’s five non-executive directors have decided to resign, rather than wait for ballots to be held on their positions.