Hibiscus Petroleum plans to move ahead with its Marigold project in the UK North Sea next year, with safeguards against delays around Covid-19.
The threat of a no-deal Brexit is back -- and with it the risk that the U.K. economy’s shaky recovery from the coronavirus pandemic will be hobbled.
The Oil and Gas Authority (OGA) has slammed “poor behaviour” in the North Sea supply chain, with firms facing demands to cut rates as much as 40% “overnight”.
The Health and Safety Executive (HSE) has reported that four workers have contracted Covid-19 as a result of occupational exposure offshore, with more expected to follow.
An industry leader has said he is "confident” of securing government backing for a sector deal and a global underwater "hub" in Aberdeen this year.
There remains “doubt and questioning” around the UK Government’s quarantine exemption for offshore workers and the potential spread of Covid-19, according to a union boss.
Industry chiefs are fighting in Westminster and Capitol Hill to support global helicopter firms that operate in the UK North Sea, warning some “will probably not survive”.
Gresham House Energy Storage Fund has partnered with Edinburgh-based Flexitricity to optimise their 50MW / 75MWh Thurcroft battery storage site.
The UK’s crippled offshore helicopter sector faces more financial restructuring, “opportunistic M&A” and possibly even government intervention, according to new analysis.
Proposals to introduce temporary amendments to the Norwegian upstream tax regime, put to the Norwegian parliament a couple of weeks ago, and included within the Norwegian budget on Tuesday, have added to calls for fiscal change in the UK to support investment in the UKCS and underpin the oilfield services (OFS) supply chain.
The UK Government has run out of fiscal levers that could be pulled to help the country's struggling oil and gas industry, a tax expert has said.
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.
Western Europe’s maintenance, modification and operations (MMO) market will likely take a major hit in 2020 a Rystad Energy impact analysis has revealed, thanks to severe spending cuts and Covid-19 transportation restrictions. Spending in Norway is expected to fall to $3.4 billion this year – an 18-year low – while UK spending is on track to fall to $2.9 billion, the lowest level seen since at least 1990.
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.
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.
Energy services firm Petrofac has said it has safeguarded nearly 200 jobs with a pair of contract renewals.
The UK’s oil regulator has unveiled plans to force North Sea operators to meet the government’s 2050 net zero goals.
Total barely managed to stay in profit for the start of 2020 as oil prices took a nosedive due to the Covid-19 outbreak.
My recent Energy Voice article comparing Battery Electric Vehicles (BEV) with Hydrogen Fuel Cell Electric Vehicles (FCEV) generated some interest. To my mind the BEV has clear benefits from an energy efficiency standpoint, as an FCEV requires twice the energy of a BEV.
Engineering firm Saipem has won a £225million project to transport and install a new natural gas pipeline in the Baltic Sea.
Shell’s boss has said the firm will “probably” have to reduce its headcount and “resize” parts of the organisation the longer the oil price slump lasts.
A leading petroleum economist has said it would “require something cataclysmic” for the international oil benchmark to follow that of the US into negative pricing.
With the reality that Brent oil prices are scratching closer and closer to $20 per barrel, shut-ins are already happening around the world. Even if prices reach this threshold, the UK will avoid shut-ins and exploration is likely to continue in 2020, although cash flow and project sanctioning will suffer, a Rystad Energy impact analysis shows.
Shell has hit pause on a number of UK North Sea projects due to the recent crude price drop and Covid-19 outbreak, it is understood.
Energy giant Shell paid no taxes on its upstream oil and gas business to the UK government last year, instead receiving large rebates, according to a new report.