Former FTSE 250 oil chiefs banned from running companies

They failed to declare personal interests in a number of high-value transactions

Oil and gas giants offer $20m to reduce methane emissions

Companies with technologies and business models in the areas of methane detection, measurement and mitigation are being invited to submit their proposals

Scotland provides £1.1m for oil and gas decommissioning

Seven oil and gas decommissioning projects across Scotland have been awarded a share of £1.1 million. The first round of awards from the Decommissioning Challenge Fund aims to improve port and shipyard infrastructure to make North Sea decommissioning easier, cheaper and more effective. The scheme has offered grants to initiatives in Methil, Montrose, Ardersier, Stornoway, […]

More than 200 North Sea rigs to close by 2025

More than 200 oil and gas platforms and close to 2,500 wells across the North Sea are scheduled to be decommissioned by 2025. That’s according to new information published by Oil & Gas UK and Decom North Sea. The groups say this will take place on 349 fields across the region, including six on the […]

New UK oil exploration maps released

New government-funded oil and gas exploration data has been made available for viewing. The Oil and Gas Authority (OGA) released the results of the £20 million seismic programme to promote exploration activity in underexplored areas of the UK Continental Shelf (UKCS). The information published contains nearly 19,000km of new mapping, new gravity and magnetic surveys, […]

BP ‘eyes oil and gas field off coast of Senegal’

BP is reportedly eyeing an oil and gas investment off the coast of Senegal. Reuters suggests the energy giant is in talks with exploration firm Cairn Energy, which is looking to sell a 30% stake in its deepwater SNE field, said to be valued at around $600 million (£453m). BP has said it would be […]

Budget tax changes “could save millions in oil and gas”

The trade association for the oil and gas industry has said the Autumn Budget could save millions of pounds by introducing a tax change to defer the decommissioning of mature fields. Oil & Gas UK says the government has a limited window of opportunity to allow tax history to be transferred from seller to buyer […]

BP sells off North Sea assets in £300m deal

BP has agreed to sell a number of its oil and gas assets in the North Sea to Serica Energy in a £300 million deal. The property and infrastructure being sold include the Bruce, Keith and Rhum fields, three bridge-linked platforms and associated subsea equipment. The £300 million will be made up of a £12.8 million upfront […]

UK’s oil and gas reserves ‘may only last a decade’

The UK’s current oil and gas reserves may last only a decade. That’s according to a new study from scientists at the University of Edinburgh, who say only around 10% of the UK’s original recoverable oil and gas remains. The analysis also finds fracking will be barely economically feasible in the UK because of a […]

UK oil and gas sees £4.6bn of deals in first half of 2017

Around £4.6 billion of mergers and acquisitions took place in the UK’s oil and gas sector in the first half of 2017. That’s according to a new report from Oil & Gas UK, which says this is a strong vote of confidence for industry, which has faced a significant downturn in recent years. The report […]