OBR lowers forecast for UK oil and gas revenues
A new report has lowered forecasts for UK oil and gas revenues by an average of £600 million per year to 2024.
Oil
North Sea production reaches seven-year high
North Sea oil and gas production reached a seven-year high in 2018, according to new figures.
‘Scandal’ as North Sea firms issue redundancy notices in rota dispute
Trade union officials have announced additional strike dates after oilfield service firms Aker Solutions and Petrofac issued redundancy notices to staff.
John Lawrie Group announces £5m decommissioning base in Dundee
Aberdeen-headquartered John Lawrie Group has announced it will set up a £5 million decommissioning base at the Port of Dundee.
Guyana capital takes inspiration from north-east by twinning with Aberdeen
Until recently, Guyana was listed among the poorest countries in the Western Hemisphere and - though boasting a landmass larger than Scotland and England combined - home to a low-wage population of just 750,000 people.
Continued decline in turnover for oil support services ‘concerning’
Companies supporting the oil and gas sector have seen their turnover decline for the third year in a row, a new report revealed.
BP sees annual profits more than double
BP has seen profits more than double to 12.7 billion US dollars (£9.7 billion) for 2018, after cheering a year of “transformative” deals.
Shell profits soar to highest in four years
Royal Dutch Shell has revealed its biggest profit haul for four years after earnings surged 36% thanks to higher oil and gas prices.
Shell posts £16.3bn profit haul for 2018
Royal Dutch Shell has notched up a 36% hike in annual earnings thanks to higher oil prices.
Equivalent of 250 million barrels of oil discovered in North Sea – the biggest in more than a decade
Chinese, French and Italian energy firms are celebrating the biggest gas find in the UK North Sea in more than a decade.
Major North Sea discovery announced by oil and gas companies
A significant new gas discovery has been made in the North Sea.
Oil firms committed to covering their share of decom costs
Oil companies will pay their fair share of the multi-billion pound UK North Sea decommissioning bill, a trade body has said.
Offshore worker dies after falling into North Sea
An offshore worker has died after falling into the North Sea.
‘TOFS TOFS, BABY’ North Sea crew make rap video to highlight safety
A North Sea drilling crew has rustled up a rap video to highlight safety offshore.
North Sea industry hopes oil settles at $60-70 for longer
Oil prices settling in a sweet spot of $60-70 per barrel would give North Sea firms more confidence to kick on with investment plans, industry experts have said.
US firm Sphera swoops for Petrotechnics brand
Scottish technology firm Petrotechnics is now under US ownership following its sale by shareholders including chief executive Phil Murray and the Business Growth Fund (BGF).
Down-manning forces cancellation of North Sea strike vote
A strike ballot on one of the UK’s largest offshore gas projects has been forced to be cancelled.
SPONSORED: Funding need not be daunting
As Scotland’s energy sector transitions to a lower-carbon future, diversification has become a buzzword for businesses looking to take advantage of new opportunities.
Aberdeen University’s South Korea campus plan defeated by oil downturn
Aberdeen University has been forced to abandon an ambitious plan to create an international campus in South Korea.
DNO threatens to terminate bid for Faroe Petroleum
DNO has threatened to withdraw its bid to acquire Aberdeen-based Faroe Petroleum if a decision is not made by January 2.
Spark could be sitting on one billion barrels of oil
Australian firm Spark Exploration could be sitting on oil reserves of more than one billion barrels in the Rona Ridge area in West of Shetland waters.
EnQuest to review North Sea rotas
EnQuest has announced plans to review offshore rotas for workers on several of its North Sea assets.
UK Government update on oil sector deal in ‘weeks, not months’
The oil industry will get an update on its bid for a money-spinning sector deal in “weeks, not months”, the UK’s energy minister said yesterday.
Subsea 7 picked for major project at Shell’s Shearwater platform
Energy service giant Subsea 7 has won the contract for a major North Sea infrastructure project with Shell.
Off-payroll rule changes to ‘acutely impact’ North Sea oil sector, tax expert says
Changes to off-payroll working rules will “acutely impact” the North Sea oil and gas sector, a tax expert has warned.
Speculation mounts as race begins for Chevron assets
Speculation arose last night as two oil and gas operators emerged as potential bidders for a package of Chevron’s North Sea assets.
Aker Solutions boss appointed to OGUK board
A boss at Aker Solutions has been appointed to the board of Oil and Gas UK (OGUK).
Aberdeen servers hit in Saipem cyber-attack
Italian oil services firm Saipem has confirmed that a major cyber-attack targeting the firm hit servers in Aberdeen.
Petrofac launches ‘Innovation Zone’ at Aberdeen base
Petrofac has launched a new facility to take advantage of the “enormous potential” of digital technology to benefit the North Sea and wider oil and gas sector.
Firm planning first with submersible drilling rig
An Orkney company is aiming to create a global first with a £1.5 million project to develop a new submersible drilling rig for use in the offshore renewable energy sector.
1,400 oil and gas jobs predicted to be lost in Aberdeen in next three years
Around 1,400 jobs in oil and gas based in Aberdeen are expected to be lost in the next three years, according to a new report.
Rebound in oil if traders think cartel cut ‘for real’
A backstop could be placed on the recent oil price freefall if traders are convinced Opec proposals to cut global production are “for real”, according to a top petroleum economist.