Tullow expects to report pre-tax impairments and exploration write-offs of around $1.5 billion for 2019, as a result of a lower oil price forecast and a reduction in 2P reserves at the TEN project, offshore Ghana.
A blighted oil rig was being prepared for its journey out of the Western Isles yesterday as gales battered the whole of Scotland.
More footage has emerged of incredible waves in the North Sea.
A snowstorm has hit parts of the Permian Basin in West Texas and New Mexico, affecting some crude output. The weather has also left some roads dangerous for trucks heading to and from oil wells.
Scotland’s summer may have been a washout, but the wet and windy weather has proved to be a “belter” for renewable energy, with the amount of electricity produced by wind turbines up by more than 50% on last year. Wind power alone supplied 660,117.23 Megawatt hours (MWh) of electricity to the National Grid in July, which is enough to supply on average the needs of 72% of Scottish homes - the equivalent of 1.75 million households. That is up by 58% from the same month in 2014, according to environmental campaigners at WWF Scotland.
Oil giant Total has posted images of huge waves hitting one of its production platforms in the North Sea. The French company captured the photographs from the K6CC platform in waters off the Netherlands. Although it is permanently manned, work is normally only performed on the facility during the day.
This image taken by an offshore worker shows the high waves caused by storms across Scotland. The photograph was captured from a rig of the coast of Shetland.
Engineering and construction company Technip has been using buoy in its largest North Sea project to plan operations more effectively around harsh weather. The Fugro SEAWATCH Wavescan buoy has led to improved safety at BP’s Quad 204 project, which is just West of Shetland.