Sinopec and a private equity-backed company are among some half a dozen candidates to acquire Exxon’s North Sea assets that the supermajor put up for sale earlier this year. Kuwait Continue Reading
Researchers from the GEOMAR Helmholtz Center for Ocean Research Kiel have found that considerable quantities of the greenhouse gas methane escape uncontrolled into the water from abandoned oil and gas Continue Reading
VLCC of Forties crude arrives in May for first time in 9 months Q3 North Sea crude, condensate imports may surpass 6 mil barrels Forties-WTI price spread on CFR Asia Continue Reading
ExxonMobil is considering moving forward with its sale of some North Sea assets after months of delays, industry and banking sources told Reuters on Thursday. The sale, with the potential Continue Reading
UK oil production slumped by almost 7% on the year to 1.103 million b/d in the first quarter, official data showed Thursday, likely due to COVID-19 disruption as well as Continue Reading
The oil price collapse will result in one-third of the North Sea oil left untouched because it will be uneconomical to produce, a new study from the University of Aberdeen Continue Reading
For decades, the oil rigs rising out of the North Sea off Scotland provided Britain with hundreds of thousands of jobs in a thriving industry and billions in tax revenue. Continue Reading
Oil and gas production in the North Sea became viable due to the 1973 oil crisis. The Arab-Israeli conflict caused a serious disruption that led to skyrocketing prices. Energy security Continue Reading
Oil rigs in the Cromarty Firth Oil price wars and the public health pandemic could drive the North Sea oil and gas industry over the edge, putting tens of thousands Continue Reading
Total is among the shortlisted bidders for an offshore wind power project that has been estimated to cost some $7 billion, Bloomberg reports , citing unnamed sources in the know. Continue Reading
Things have not been looking good for North Sea energy. In fact, last November, Oilprice went so far as to declare that “ North Sea Oil Is Doomed With Or Continue Reading
German energy group Wintershall Dea found no gas in the second wildcat exploration well that it has drilled in one license in Norway’s Norwegian Sea, after it found gas at Continue Reading
Rising oil and natural gas production and an easing of the UK’s political crisis are giving rise to optimism in the North Sea. But concerns loom over an expected longer-term Continue Reading
In the middle of the North Sea, four metal platforms perched on yellow supports and weighing 100,000 tonnes sit above more than $1oobn of black gold. The Johan Sverdrup field, located Continue Reading
The huge Johan Sverdrup oilfield in Norway’s North Sea is already producing 350,000 barrels of oil per day, two months after coming on stream, a senior executive at Equinor, the Continue Reading
The uncertainty of the future of Brexit has left the United Kingdom’s economy in stagnation as business investment falters on the eve of the nation’s December general election. While Boris Continue Reading
Norway’s energy giant Equinor has made one of this year’s biggest discoveries in the North Sea estimated to contain up to 100 million barrels of oil equivalent in the most Continue Reading
Norway’s Johan Sverdrup oil field is ramping up production to levels not seen in years in the North Sea. It is one of many changes underway in an industry characterized Continue Reading
US shale won’t be the only beneficiary of higher oil prices if the commitment of OPEC and its Russia-led allies to extend their oil production cuts into March 2020 manages Continue Reading
Ithaca Energy Limited is buying Chevron’s British North Sea oil and gas field interests for $2 billion, the unit of Israel’s Delek Group said on Thursday. Delek said last month Continue Reading
North Sea oil production is struggling, according to independent energy research and intelligence business Rystad Energy. The company’s North Sea oil output forecast – which looks at crude and lease Continue Reading
Crude and lease condensate production in the North Sea is set for lower levels in the summer months, further tightening the global oil market which is already grappling with production Continue Reading
Israel’s Delek Group confirmed on Sunday it submitted a proposal through its Ithaca unit to buy Chevron’s oil and gas fields in the British North Sea. Last week Reuters reported Continue Reading
The North Sea is a mature oil and gas basin, which has seen its fair share of hard times over the last few years. But recent reports show cause for Continue Reading
Marathon Oil said on Monday that it would be exiting the UK North Sea as it continues to focus on high-return U.S. shale oil operations. Houston-based Marathon Oil has signed Continue Reading
Royal Dutch Shell said on Monday it would expand the Shearwater gas hub in the British North Sea, its seventh project to get the green light in the aging basin Continue Reading
Oil majors and trading firms can start finalizing crude oil deals on a live blockchain-based platform for the first time, in a move that could revolutionize the market. Commodities trading Continue Reading
Scottish marine salvage group Ardent is adapting the tanks it used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea Continue Reading
The UK continental shelf in the North Sea has recently drawn attention with several significant asset sale deals that have seen Chevron reduce its exposure to the legacy production area Continue Reading
U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to Continue Reading
Last year, when Oilprice wrote about a rush of investments into North Sea oil and gas, it looked like that part of the oil world was undergoing a seismic shift, Continue Reading
The United States has granted BP and Serica Energy a new license to run a North Sea gas field partly owned by Iran in a rare exemption by U.S. President Continue Reading
Industry group Oil & Gas UK warned Tuesday of a continued drop in North Sea drilling needed to sustain output levels in the longer term. Receive daily email alerts, subscriber Continue Reading
Equinor has raised the resource estimate for its giant oil field Johan Sverdrup in the North Sea and said it was able to drive development costs for the project further Continue Reading
The next challenge for Norway’s oil industry may not come from another oil price crash. It could come from a political uncertainty over which new areas Western Europe’s biggest oil Continue Reading
First oil from the second phase of the Buzzard field in the British waters of the North Sea is expected in three years, a partnership announced. Nexen leads a partnership Continue Reading
The Norwegian government gave Equinor consent to start production drilling in an oil field in the Norwegian Sea set for a production start next year. “We have given Equinor consent Continue Reading
An offshore union said Monday that production at three North Sea platforms operated by Total was shut down as a result of a labor strike. “We can confirm that the Continue Reading
It was expected by many, me included but more importantly UKOGA and a couple of the bigger oil and gas consultancies, that UK offshore oil production would increase significantly from Continue Reading
France’s Total is set to sell a third of its stake in Laggan Tormore gas field along with other oil and gas assets in Britain’s North Sea that could fetch Continue Reading
Chevron has kicked off the sale of a number of its oil and gas fields in the ageing North Sea as part of a review of the U.S. giant’s European Continue Reading
The international majors are sharpening their UK focus on the more prospective west of Shetland area, with BP raising its stake in the Clair field and Chevron hoping to sell Continue Reading
A Norwegian government regulator said Friday it confirmed an oil discovery was made in untested waters in the central part of the North Sea. The Norwegian Petroleum Directorate, the nation’s Continue Reading
A component of a drilling platform for the development of the Johan Sverdrup oil field in the North Sea is on its way to its final destination, Equinor stated. The Continue Reading
The UK Oil and Gas Authority (OGA) awarded on Wednesday 123 licenses over 229 blocks or part-blocks to 61 companies in the 30th Offshore Licensing Round in the UK North Continue Reading
Norwegian energy company Statoil explains sale of non-core assets in the North Sea as part of an effort to focus on greener options. After reporting first quarter earnings below analyst Continue Reading
The UK’s Tullow Oil said Wednesday it would cease all natural gas output from its assets in the UK Southern North Sea in the third quarter of this year in Continue Reading
A Transocean rig will be moving from an exploration well in the North Sea to frontier territory near existing oil and gas discoveries, Norway’s government said. The Norwegian Petroleum Directorate, Continue Reading
A drilling facility in the Norwegian waters of the North Sea is moving on to frontier territory after coming up empty-handed, a partner in the effort said. Regional explorer Aker Continue Reading
New natural gas discoveries on the Norwegian continental shelf could hold “significant” quantities of reserves, a subsidiary of Austria’s OMV said Wednesday. The Norwegian subsidiary said it made discoveries at Continue Reading
