Major Inverness street reopened after police investigation

Grant Street was cordoned off while police carried out an investigation.

Fabled Singapore oil trader appoints advisers amid bank squeeze

Singapore oil trader Hin Leong Trading (Pte.) Ltd. has appointed advisers to help in talks with banks as some of them freeze credit lines to the firm, according to people with knowledge of the matter.

Angolan production declines bite deep

Companies operating in Angola have reported a production decrease of 18.7% from 2017 to 2019.

Ardyne wins orders in the North Sea for 175 wells worth more than £45m

UK fishing, milling and casing recovery provider Ardyne has strengthened its commitment to the North Sea by securing four long-term contracts for work on 175 wells with potentially more to follow.

EnQuest set to weather storm with ‘quick action’

EnQuest has insisted its day-to-day operations are not “materially affected” by the coronavirus outbreak.

Collapsing demand sets the terms in the OPEC+ battle for market share

Since OPEC+’s failure to agree on production restraint on 5-6 March, the implications of the Covid-19 pandemic have become far clearer, sparking a crisis in the oil market as prices fell and supply ramped up.

Supply deal should avert ‘uncontrolled dismantling’ of industry, Rystad says

The proposed 10 million bpd cut by OPEC+ for May and June will keep the world from physically testing the limits of storage capacity and save prices from falling into a deep abyss, but it will still not restore the desired market balance. Just hours before delegates stepped into the (again virtual) closed meeting, Brent was fluttering in the mid-$30s, seemingly oblivious to the fact that even if a 10 million bpd cut is agreed upon, or even in the best-case scenario 15 million bpd if the US, Canada, Norway and Brazil join forces, an excess of supply of the magnitude of 5-10 million bpd will remain, and will need to be stored.

Update: Mexico’s refusal to play ball threatens Saudi-Russia oil deal

A historic multilateral deal to lower global oil production and stabilise prices, led by record cuts from Saudi Arabia and Russia, is at risk as Mexico refuses to agree to the proposed curbs.

Workers need to be ‘accountable’ for own health and safety, OGUK director says

North Sea workers must accept ‘accountability’ for their own health and safety in order to halt the spread of Covid-19 offshore.