Philip Whittaker

Decom

BCG: Distressed or bankrupt oil firms face $15billion decommissioning costs

15/07/2021

By Allister Thomas

The decommissioning costs of oil and gas firms which have recently gone bankrupt or are in financial distress is near $15billion, according to new analysis from Boston Consulting Group (BCG).

Decom

Decommissioning bill for NEO – Exxon UK assets estimated at $1.1billion

22/03/2021

By Allister Thomas

The decommissioning bill for NEO Energy’s newly-acquired Exxon Mobil assets in the UK has been estimated at $1.1billion (£795m).

Decom

Oil industry ‘ripe’ for new decommissioning models but some won’t survive, says BCG

19/11/2020

By Allister Thomas

The offshore oil and gas sector is “ripe” for emerging new decommissioning models, however analysts BCG said they “strongly doubt” some will survive.

Oil & Gas

‘Wave of idle iron’ predicted as oil firms defer decommissioning and rush shutdowns

15/06/2020

By Allister Thomas

Widespread decommissioning deferrals could lead to a “wave of idle iron” in the UK and globally as companies rush to preserve cash and potentially shut down uneconomic oil platforms, according to new analysis.

North Sea

Research highlights ‘huge concern’ over oil firms’ ability to pay decommissioning bills

11/05/2020

By Allister Thomas

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.