‘Only way is up for oil and gas’

The downturn in the oil and gas sector on the UK Continental Shelf (UKCS) has bottomed out and will now improve. That’s the suggestion from the Aberdeen and Grampian Chamber of Commerce, the Fraser of Allander Institute and KPMG, which conducted a survey of 95 businesses across the sector to see what they expected to […]

BP and Shell ‘dragging feet on climate change’

BP and Shell is putting shareholder capital at risk by “dragging their feet” on climate change. That’s the claim from non-profit investment campaign ShareAction, which says both energy giants are failing to properly adapt their business models to the ongoing transition to a low carbon economy. That’s in contrast to another new report claiming climate […]

Scotland sees £5.1m to prevent oil & gas wear

A £5.1 million Scottish research programme to address wear in oil and gas pipes and equipment has received new investment. Livingston-based Scaled Solutions’ initiative is receiving £2.2 million from Scottish Enterprise, with another £2.9 million being sourced from the company itself. The project aims to develop new testing services to address knowledge and technology gaps […]

Oil and gas industry confidence rises from historic lows

Confidence in the oil and gas industry has risen from the historic lows surveyed six months ago. That’s according to the findings of the Aberdeen & Grampian Chamber of Commerce’s 26th Oil and Gas survey, which reveals 38% of the sector’s contractors are now more confident about business on the UK Continental Shelf (UKCS), compared to […]

Centrica sells £240m stake in Canadian oil and gas firm

A Canadian oil & gas exploration and production (E&P) firm is to be sold for CAD$722 million (£413m). The CQ Energy Canada Partnership, in which Centrica owns a 60% interest, is to be sold to a consortium made up of MIE Holdings Corporation, the Can-China Global Resource Fund and Mercuria. Qatar Petroleum International owns the […]

Oil and gas knowledge tool receives £50k funding

A digital resource for the oil and gas industry has received £50,000 from the Scottish Government. This supplements the £800,000 already received from businesses, universities and other sponsors to enable the research, development and launch of the platform, which aims to tackle a looming knowledge and experience gap in the sector. The International Centre for […]

BP announces two gas discoveries in Trinidad

BP has announced two significant gas discoveries offshore Trinidad. The oil and gas multinational says the Savannah and Macadamia exploration wells have unlocked around two trillion cubic feet of gas, which it says will underpin new developments in the region. The Savannah exploration well was drilled into an untested fault block east of the Juniper field in water depths […]

Activists call for church to divest from ExxonMobil

Activists are today campaigning for the Church of England (CoE) to divest from ExxonMobil. A coalition of faith and non-faith groups are staging a demonstration outside the oil and gas giant’s Fawley Refinery in Hampshire, on the day of the company’s AGM in Houston. Demonstrators handed leaflets to staff as they entered and this afternoon plan […]

Norway awards £900k for subsea tech research

Norway has awarded a NOK10 million (£900,000) grant for subsea technology research. The Research Council of Norway has provided technology firm ABB funding to develop equipment for use on the Norwegian continental shelf and the Barents Sea. It is the third grant of its kind awarded to ABB – previous funding rounds, both in 2016, totalled NOK20 million (£1.8m). ABB is currently engaged […]

Oil and gas exploration in 2016 ‘fell to nine-year lows’

Oil and gas exploration in 2016 fell to nine-year lows, in terms of both wells drilled and discoveries made. That’s according to a new report from Westwood Global Energy Group, which also suggests a brighter outlook for the industry can be expected in the coming years as improved exploration efficiencies start to deliver results. It says last year’s […]