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News Archive for: April 2013

Can shale gas bring the same benefits as North Sea oil?

It’s still too early to say whether shale gas has the potential to reinvigorate the UK economy, in the same way as North Sea oil did in the 1980s, and it perhaps already is transforming the much larger US economy. But we are not going to find out until…

BP provides first quarter 2013 results:

BP today announced its financial results for the first quarter of 2013. Underlying replacement cost profit for the quarter was $4.2 billion, compared to $3.9 billion in the fourth quarter and $4.7 billion in the first quarter of 2012.

Operating cash flow in the quarter was $4.0 billion, compared with…

IGas to Drill Appraisal Wells in Bowland Shale:

IGas, the onshore hydrocarbon producer, confirmed its plans to drill two further wells commencing this year to further appraise the significant potential resources it has in the Bowland Shale.

Following the Ince Marshes-1 well, IGas has conducted an extensive evaluation program of the shale potential in its North-west licenses. This…

Chevron reports first quarter net income of $6.2 billion:

Chevron Corporation (NYSE: CVX) today reported earnings of $6.2 billion ($3.18 per share – diluted) for the first quarter 2013, compared with $6.5 billion ($3.27 per share – diluted) in the 2012 first quarter.

Sales and other operating revenues in the first quarter 2013 were $54 billion, down from $59…

North Sea Oil and Gas Comes Back to Life:

SHETLAND, Scotland—On the windswept hills that line the west coast of the Shetland Islands, roaming sheep bear lonely witness to a surprising industrial comeback.

A gray, metal-and-concrete skeleton slowly emerging from the peat bogs makes up the last leg of Laggan-Tormore, Total SA’s FP.FR -1.75% £3.3 billion ($5 billion) project…

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