Symbolic bans on oil E&P won’t help us with climate change, Shell boss says
The chief executive of Shell said today that “symbolic” bans on oil and gas exploration and production would not help the UK tackle climate change.
Siccar Point Energy
North Sea EPC spend to top £2.8bn in 2021, about £1.8bn still to come – Westwood Global
North Sea engineering, procurement and construction (EPC) contract awards are anticipated to total more than $4 billion (£2.8bn) in 2021.
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.
Equinor and Altera ‘fully engaged’ on study into use of Knarr FPSO for Rosebank project
Energy giant Equinor and Altera Infrastructure are “fully engaged” in a study that could result in the vessel owner’s Petrojarl Knarr FPSO being picked for the 300 million barrel Rosebank gig.
Siccar Point takes step towards investment decision on Covid-delayed Cambo
Private-equity backed Siccar Point Energy has taken another step en route to a final investment decision (FID) on Cambo, a major oil project west of Shetland.
Siccar Point losses widen as key Cambo and Rosebank decisions await
Losses at Siccar Point Energy more than doubled in 2020 as the North Sea operator looks ahead to key decisions on its flagship Cambo field and the Equinor-operated Rosebank.
Sembcorp ‘back on track’ on Cambo FPSO for Siccar Point
Sembcorp Marine has said it is “back on track” with work on the Cambo FPSO for Siccar Point Energy.
PE and the energy transition: the Blue Water Energy experience
Private-equity house Blue Water Energy opened its doors a decade ago at a time when the North Sea was still enjoying the longest bull run in its history and Big Wind was just about finding its offshore feet.
West of Shetland oil and gas remains UK’s best bet for growth despite recent setbacks
The West of Shetland oil and gas (WoS) basin has long been held aloft as the UK’s last great hope for indigenous oil and gas production growth.
Chrysaor-Premier Oil deal could be ‘harbinger of things to come’
Private equity firms that piled into oil-production assets in the past few years now find themselves stuck, and forced to contemplate novel ways to make an exit.
How to be seen to be green, without just a lick of paint
The global focus and dependency on fossil fuels and shift towards low carbon energy has been building for many years, but only in the last 18 to 24 months has it become a leading agenda item in national and international political arenas.
EnQuest, Sinopec ‘among bidders’ for ExxonMobil UK North Sea oil and gas fields
ExxonMobil's UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the US oil giant seeks to exit the aging region altogether, according to people with knowledge of the matter.
Ineos North Sea bosses optimistic despite profits plunge
Bosses at Ineos’ North Sea oil and gas business have vowed to keep “pursuing growth opportunities” despite a 95% profits plunge in 2019.
Shell sees ‘running room’ in West of Shetland
Shell has reiterated its “commitment” to the North Sea and West of Shetland, saying there is still “running room” in the region.
Aberdeenshire CCS firm gains ‘financial heft’ with backing from Australian investment giant
Pale Blue Dot Energy (PBD) has gained "financial heft", with backing from an Australian investment giant to help deliver one of the UK’s first major CCS projects.
Siccar Point delays approval for flagship Cambo field in West of Shetland
Siccar Point Energy has announced it will defer approval of its highly-anticipated Cambo development until the second half of next year due to the coronavirus outbreak.
More than a dozen North Sea projects face red light due to oil price plummet
More than a dozen UK North Sea projects are facing deferral in light of the oil price drop, an analyst has predicted.
Equinor’s Rosebank to help bring North Sea spending to decade high – Westwood
Projects from Equinor off the UK and Norway will help bring North Sea spending to its highest level in a decade, according to Westwood Global.
Blackstone gets final bids for North Sea oil producer
Siccar Point Energy Ltd., the North Sea oil producer backed by Blackstone Group Inc., has received final bids from suitors including Chrysaor Holdings Ltd. and Equinor ASA, people with knowledge of the matter said.
Consultancy Genesis says margins remain under pressure amid stiff competition
A global oil and gas consultancy with a base in north-east Scotland has blamed stiff competition for a near doubling of its pre-tax losses.
RockRose Energy starts ‘significant period of development’ with West Brae wells
RockRose Energy has said it is beginning a “significant period of development activity” over the next year, starting with its West Brae field.
Sun sets on a slow year for North Sea sanctions
A bumper year for new project sanctions on the UK continental shelf (UKCS) in 2018 has been followed by an underwhelming 2019, analysts have said.
Siccar Point sale attracts bids of up to $2bn – report
Bids to buy North Sea producer Siccar Point Energy have come in at between $1.2bn and nearly $2bn, according to a news report.
Siccar Point reaches another milestone ahead of Cambo FID
Siccar Point Energy has reached another checkpoint en route to a final investment decision (FID) for its 900 million barrel Cambo project off Shetland.
Time for a rethink in the Faroes
It’s fifth offshore oil & gas licensing round is likely to be the final throw of the hydrocarbons dice for the Faroe Islands.