UK/UKCS
News
February 24, 2021
Key players in the oil market have been talking up the rising prices in the coming months, with some even floating the prospect of $100 crude in the next year or two as the global economy recovers from the pandemic.
News
February 23, 2021
With the takeover by Chrysaor expected to complete by the end of March, Premier Oil will start trading under its new name, Harbour Energy Plc, on April 1. Putting behind it a multibillion-dollar debt pile, the firm should be well-positioned to ride the recovery in oil demand and boost investor returns.
News
February 08, 2021
The UK's Crown Estate auctioned seabed rights that will allow about 8 gigawatts of new wind farms, enough to power more than 7 million homes. With oil majors taking a majority of the sites, it’s a sign that green energy companies are facing a new era of competition for some of the world’s biggest renewable energy projects.
News
February 05, 2021
The leading representative body for the UK oil and gas industry has today announced the appointment of a new co-chair to its board, as the sector focuses on the industry’s recovery whilst meeting net-zero targets for 2021.
News
February 04, 2021
Under the terms of the life of field contract, THREE60 Energy will carry out operations and maintenance duties on behalf of the Galoc Joint Venture, with the objective of improving performance and extending the field’s economic life.
News
February 02, 2021
The Western world’s largest energy producers were supposed to be sailing into the fourth-quarter earnings season with a tailwind from stronger commodity prices, but BP’s miss and Chevron’s surprise loss show the enduring impact of the Covid-19 pandemic.
News
January 29, 2021
After former Secretary of State John Kerry, warned that natural gas pipelines could become “stranded assets” within 30 years as the administration seeks to end carbon emissions from power plants, owners turn to hydrogen to keep three million miles of U.S. pipelines from going obsolete.
News
January 28, 2021
Neptune Energy and its joint venture partners bp and JAPEX, announced drilling has commenced on the Seagull project in the UK Central North Sea.
News
January 19, 2021
The five-year consolidated services contract, valued at $130 million, will see Wood leverage its experience and capability in late life asset optimization and management to extend field life, lower costs, and reduce late life carbon intensity across the Hub’s offshore assets in the East Irish Sea and the Barrow onshore gas terminal on the northwest coast of England.
News
January 15, 2021
The UN Principles for Responsible Investment estimates that some 42 companies announced net-zero targets in 2019 and 2020. More than half of those plan to plant trees, preserve forests or capture CO₂ in order to get there, even as their own businesses continue to warm the atmosphere.
News
January 15, 2021
Marubeni Corp. could all but exit the UK North Sea as it looks to sell its main oil and gas fields in the region, according to people with knowledge of the matter.
News
January 13, 2021
Maersk Drilling has been awarded a contract from Spirit Energy for the harsh-environment jack-up rig Maersk Resolve to drill one development well at Grove North East in the UK North Sea.
News
January 13, 2021
Upon completion of the acquisition, ITC Global will become a cornerstone of the Marlink Group, supporting the expansion of Marlink's global leadership in the energy and enterprise markets.
News
January 08, 2021
Democratic wins in elections in Georgia mean the party is poised to take control of the Senate, House and presidency, spurring a broad move higher in financial markets. That came after Saudi Arabia pledged earlier in the week to cut production by 1 million barrels a day in February and March.
News
January 08, 2021
“Opening the shale revolution to the world through the export ban lifting helped shift the global oil market psychology from supply scarcity to abundance,” said Karim Fawaz, director of research and analysis for energy at IHS Markit. “It unshackled the U.S. industry to keep growing past its domestic refining limitations.”
News
December 17, 2020
The gross consideration for the transaction, as at the locked box date of 1 January 2019, is $284 million and the final net consideration (net of cash acquired), as of 17 December 2020, is $203 million.
News
December 10, 2020
The Sixth Carbon Budget published by the Committee on Climate Change makes the case for meeting as much as possible of the UK’s ongoing domestic needs from domestic production, warning of the risk that lower production costs internationally could favor imports.
News
December 07, 2020
Over the past several weeks, Asian refineries have snapped up crude oil from the Middle East, the U.S. and Russia as buyers received more government allowances to boost imports after the start of next year. Demand for North Sea barrels was slow to pick up, but even that’s now started to change.
News
December 04, 2020
Denmark, the European Union’s biggest oil producer, will stop offering new licenses in the North Sea and phase out production altogether in 2050 as it takes an historic step toward a fossil-fuel free future.
News
December 02, 2020
Petrofac has signed a three-year partnership with Intoware, a leading provider of workflow automation software for mobile applications, to develop and deploy workflow automation software that is specifically tailored to the requirements of the oil and gas industry.
News
October 21, 2020
After a slow start to the year as the coronavirus crisis disrupted plans across the industry, asset-sale activity in the North Sea has picked up in the second half.
