UKCS exploration drilling on course for record low in 2020, Westwood Global says
UK offshore exploration drilling is on course to slump this year to its lowest level since companies starting scouring the North Sea for oil in the mid-1960s.
Shell
Total to replace refinery with clean-fuel, plastic plants
Total SE will halt oil refining in the Paris region and spend more than 500 million euros ($582 million) by 2024 replacing its facility with renewable-fuel and bioplastic plants.
Nominations opportunity to highlight true North Sea spirit
The leading representative body for the UK’s offshore oil and gas industry has hailed the grit and resilience of the thousands of people working for the critical sector as it opened nominations for its annual awards today.
Petronas seeks investors to revive Malaysian upstream as majors exit
After reporting a $5 billion loss, Malaysian national oil company (NOC) Petronas is eager to see new money flow into its domestic upstream sector, especially as the majors, such as ExxonMobil, seek to exit the Southeast Asian nation.
Energy transition may ‘push’ oil majors to sell or swap $100billion of assets – Rystad
Oil majors may be "pushed" to sell or swap more than $100billion of assets due to the energy transition, according to Rystad Energy.
Oil project approvals to recover and exceed pre-Covid levels from 2022
The Covid-19 pandemic has devastated global oil and gas project sanctioning this year and will cause total committed spending to drop to around $53 billion from 2019’s $190 billion, Rystad Energy says.
BP lifts veil of secrecy on Big Oil trading profits
BP Plc offered a glimpse of the profitability of its huge and secretive trading arm, suggesting it makes annual returns of as much as $2.5 billion.
Mubadala Petroleum eyes $2bn Southeast Asia sale
Mubadala Petroleum has put its Southeast Asia portfolio up for sale for $2 billion. The Abu Dhabi-based company will be following in the footsteps of ExxonMobil, Chevron, Shell, Murphy Oil, Hess, Repsol and Eni, all of which are looking to sell assets in the Asia region.
Peak Oil: BP, Eni, Shell lead Big Oil’s search for new business model
For most of the past century, Big Oil executives found it pretty easy to explain to investors how their businesses worked. Just locate more of the commodities that everyone needed, extract and process them as cheaply as possible, and watch the profits flow.
Green hydrogen costs fall, but not quite enough
The cost of electrolysers have fallen sharply over the last decade, but power-to-gas technologies will not be competitive with fossil-based hydrogen before 2030, panelists told a webinar hosted by CMS law firm.
Deltic Energy faces another potential takeover bid, this time from IOG
Deltic Energy is facing yet another potential acquisition bid, this time from Independent Oil and Gas (IOG).
We must lead. We must act.
The Covid-19 pandemic has had a vast impact on people’s lives, as well as on companies around the world.
Shell farms into Kosmos portfolio
Shell has struck a deal to farm into Kosmos Energy’s portfolio offshore Sao Tome & Principe, Suriname, Namibia and South Africa.
Shell confirms first gas from Fram field
Production from Shell's Fram gas and condensate field in the UK central North Sea has started up.
Europe could see $35bn in CCS spending till 2035, with UK dominating
It’s been a long and costly two decades of carbon capture and storage (CCS) studies and test centers. Now Europe has reached a stage where big-scale developments make financial sense and could trigger up to $35 billion in development spending until 2035 – by which time as much as 75 million tonnes of CO2 could be captured and stored per year on the continent, a Rystad Energy analysis shows.
About those decommissioning yard injuries
That fatalities and serious accidents are occurring in UK and Norwegian offshore installation decommissioning facilities comes as no surprise.
Shell Brent legs: Decom decision ‘postponed’ for giant structures
A decision on whether Shell will be allowed to keep the giant legs of the Brent field in the North Sea forever has been “postponed”.
Shell to ‘compensate’ Prosafe for 10-month deferral of UK contract
Shell will "compensate" vessel accommodation owner Prosafe for a 10-month deferral of a UK North Sea contract.
Deltic ‘insulated’ from virus thanks to impact of Shell farm-outs
Deltic Energy said the company is largely “insulated” from the impact of Covid-19 thanks to the financial benefits of Shell farm-outs last year.
Acorn partners aim to drill new subsea well for carbon capture project
Bosses behind a north-east, emissions-busting project said carbon capture represented a “tremendous opportunity” for oil and gas skills to be transferred over to clean-energy.
Chrysaor mulls electrification plans for North Sea platforms
Chrysaor, the UK’s largest offshore oil and gas producer, is mulling plans for electrification of its North Sea platforms.
World’s largest digital twin launched for Shell
Akselos has celebrated the launch of a “digital twin” for Shell’s Bonga floating production, storage and offloading (FPSO) vessel.
Maersk Drilling secures £35m contract extension
Brunei Shell Petroleum has exercised a £35 million contract extension option for the Maersk Convincer jack-up rig for work offshore Brunei Darussalam.
‘There’s too many people still getting hurt’: Shell decommissioning boss on onshore dismantling
Bosses at Shell and Step Change in Safety have hit out at onshore decommissioning safety standards, warning that “too many people are still getting hurt”.
UK to see world’s second-highest deployment of FPSO vessels in next five years
The UK North Sea will see the world's second-highest deployment of FPSO vessels in the next five years, according to new analysis.