Fossil Energy
BP to cut 10,000 jobs as Covid-19 spurs energy transition plans
BP will be reducing its global workforce by 10,000 this year as part of its plans to make the organization smaller and fit for the energy transition.
Decommissioning plan for Shell’s Kingfisher field under assessment
UK authorities are assessing the plan for the decommissioning of Shell’s Kingfisher installations and fifteen associated infield pipelines.
European offshore wind CAPEX to top upstream oil & gas in 2022 – Rystad Energy
Capital expenditure (CAPEX) on offshore wind is expected to surpass upstream oil & gas spending in Europe in 2022, according to Rystad Energy. The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in th
Shell farm-in moving forward after Egdon gains extension for UK licences
The UK’s Oil and Gas Authority (OGA) has granted extensions for Egdon Resources’ P1929 and P2304 licences offshore the UK.
Hurricane Energy CEO resigns. Lancaster production increased
The chief executive officer (CEO) and director of London-listed oil explorer Hurricane Energy has decided to resign from the company.
Equinor launches maritime climate ambitions
On the UN’s World Oceans Day, energy company Equinor is launching its ambitions for reducing own emissions from ships, detailing how the company will help decarbonise shipping.
PGS wields costs axe as market bites
PGS said it will implement further cost reductions as seismic industry takes major hit on Covid-19 and oil market disruption. Specifically, this includes staff reductions, re-organization, consolidation of offices, re-negotiation of service agreements and other cost measures. This should also bring
Worldwide offshore rig count tumbles in May
The worldwide offshore rig count in May 2020 dropped 54 rigs year-over-year and 37 rigs sequentially, according to rig count reports by Baker Hughes.
Apache cuts down on offshore inspection hours through digitalisation
Oil and gas company Apache has implemented digital inspection technology to reduce offshore inspection hours on its Beryl Alpha Platform.
Premier agrees discount in buying BP’s North Sea assets
Oil and gas company Premier Oil has agreed revised terms for the acquisitions of the Andrew Area and Shearwater assets from British oil major BP.
Wood aims for 40 pct greenhouse gas emission reduction by 2030
Oilfield services company Wood has pledged to reduce its greenhouse gas emissions by 40 per cent by 2030.
Borr delays deliveries of five jack-up rigs as part of financial restructuring
Borr Drilling has postponed deliveries of five jack-up rigs until mid-2022.
Eni in major overhaul as it shifts toward renewable energy
Italian energy giant Eni has announced a major overhaul of its business as it steps up efforts toward energy transition. The company will create two business units with one focused on oil and gas called “Natural Resources” and the second new unit which will focus mainly on renewable energy named “En
Eidesvik secures more vessel work with Aker BP
Eidesvik Offshore has been awarded a four-month extension to the current time charter party for the platform supply vessel MV Viking Lady with Aker BP.