SeaEnergy locks in with preferred bidder for its R2S business, after shares suspended

SeaEnergy today confirmed it had entered into an agreement with a preferred bidder for its Return to Scene Business (R2S) in a bid to pay off its debts. The firm and its advisers, KPMG, agreed an exclusivity deal with the bidder, which includes a non… Read More

Rockhopper says North Falklands is a billion barrels basin

Rockhopper Exploration today said a new report reinforced its stance that the North Falklands was a billion barrel basin. ERC Equipoise carried out an independent audit of the contingent and prospective resources of Rockhopper’s assets in licen… Read More

Total chief executive Patrick Pouyanne says UK should stay in the EU

The chief executive of Total said he hoped the UK would vote to stay in the European Union. Speaking at the opening of the company’s Shetland gas plant, Patrick Pouyanne said: “Coming back to erect barriers is not a good idea, because it damages trad… Read More

Amber Rudd makes no apologies for taking more than a year to visit Aberdeen

Defiant Amber Rudd yesterday made no apologies for taking more than a year to visit Europe’s energy capital – despite the city enduring its most challenging 12 months on record. The UK energy secretary flew to the northern isles for the official open… Read More

Video: How do you install a topside weighing 10,5000 tonnes? Watch the latest North Sea heavy lift for the Montrose installation

Operator Repsol Sinopec Resources UK’s (RSRUK) – previously Talisman Sinopec Energy UK – latest North Sea project will unlock an additional 100million barrels of oil equivalent (boe) and extend the life of the Montrose area to beyond 2030. Tops… Read More

Oil drillers adding hedges as crude makes biggest gains

Oil producers are taking advantage of the rebound in crude markets to lock in protection against another slump. They increased their bets on falling prices to the highest level in 4 1/2 years as U.S. inventories of stored oil remained near an 87-year… Read More

Sub $50: Laid off oil worker taking his job search to the streets

Visitors to OTC in Houston earlier this month may well have caught the incongruous sight of a well dressed man touting a placard on a busy street corner that read: Hiring? Take my resume. In a world of social media and online job searches, unemployed… Read More

Shell begins work to clean up oil spill

Shell has launched a recovery operation after 2,000 barrels of oil spilled into the Gulf of Mexico. A 13-mile wide oil slick stretched across the surface of the water, after 88,000 gallons of an oil-water mixture was released from the Glider Field, l… Read More

Fire nears Enbridge oil-sands tanks; Workers removed from camps

Wildfires raging across northern Alberta for more than two weeks have come to within a kilometer of an Enbridge Inc. oil-sands transportation terminal as warm weather and wind spread the flames, while workers were evacuated from camps north of Fort M… Read More

Oil advances to six-month high as US stockpiles seen falling

Oil advanced to a six-month high before U.S. government data forecast to show crude stockpiles dropped for a second week, easing a glut. Futures climbed as much as 1.2 percent in New York after rising 3.3 percent Monday. Inventories are seen falling … Read More

Oil and gas expert warns of industry brain drain

An employment expert and partner at law firm Pinsent Masons has warned overly restrictive contracts may drive key workers out of the North Sea oil and gas industry and spark a brain drain. Katie Williams, who works primarily with oil and gas clients … Read More

KPMG expert says BP deal is part of inevitable North Sea restructuring

BP’s move to double its stake in the £3billion Culzean gas development will be followed by other UK North Sea deals to put asset ownership “in the right place”, an oil and gas expert said last night. Martin Findlay, senior partner in the Aberdeen off… Read More

Independent Resources raises cash as quick fix cover for capital costs

Independent Resources has raised £200,000 to cover its capital costs in the short term. The firm, which has activities in Tunisia, Egypt and Italy, amassed the cash through a subscription by investors introduced through Brandon Hill Capital Limited. … Read More

Opinion: Pension freedoms two years on

Wendy Atkinson discusses the market challenges We have been talking about pension freedoms for two years and it has been a year since people were able to use these new freedoms. Since then, the FTSE 100 has dropped by 15%. Such a dip in the market ha… Read More

Total’s Shetland Gas Plant hailed “phenomenal” industry milestone

The opening of Total’s Shetland Gas Plant was hailed as a “phenomenal” milestone for the UK energy sector. Industry leaders, politicians and the local community gathered to officially open the site, which supports the French operator’s ma… Read More

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