Unexploded wartime bombs found near defunct North sea oil and gas infrastructure pose no threat, the operator said yesterday. A total of eight “unexploded ordnances” (UXOs) were discovered close to a pipeline and other parts of the export route for t… Read More
Mental health support services are urging oil workers affected by the crisis are being urged not to bottle up their concerns until they reach breaking point. The chairman of the Aberdeen branch of the Samaritans, Peter Benton, said many oil workers c… Read More
Top Shell executive Huibert Vigeveno is set to become the transitional chief executive of BG Group after the expected completion of the £34billion “mega-merger” of the two oil giants next month The appointment of the Dutchman, who was appointed last … Read More
Oil dropped to a new 12-year low below $30 a barrel in New York, while the discount on global benchmark Brent reached a five-year high as Iran moved closer to restoring exports. West Texas Intermediate crude fell 5.7 percent, capping an 11 percent de… Read More
Not even the pessimists on Wall Street thought things would go so wrong so fast in 2016. For the first time in 12 years, oil is below $30 a barrel. China is struggling to prop up its slowing economy and calm its volatile stock market. For the moment,… Read More
Stocks tumbled around the world yesterday, with US equities headed for their lowest levels in 15 months, and bonds and gold jumped as oil’s plunge below $30 sent markets reeling. Treasuries extended gains as economic data and earnings added to concer… Read More
The price of LNG appears to be set for another downturn in 2016 with new projects in Australia and the US weighing on spot prices according to a new report. Price pressure from new supply is being compounded by a plunge in oil prices according to the… Read More
The owners of a drilling rig on which an oil worker died after the it was hit by a huge wave during a North Sea storm have ruled out a design fault. In a statement on its website, COSL said: “So far we have no indication that there is a problem with … Read More
