News Archive for: August 2014

Shares in Premier Oil edged ahead yesterday after the producer was given the green light for a new £1.5 billion North Sea oil field.

The UK Department of Climate Change’s approval for the Catcher development, which is located around 125 miles east of Aberdeen, came as oil and gas executives…

The North Sea oil and gas industry is facing job losses in the upstream side of operations, with Chevron and Shell having recently announced the cutting of 475 largely onshore jobs in Aberdeen, 250 from Shell and 225 from Chevron; and the selling off of assets. Drilling contractor, Odfjell,…

Global exports of North Sea oil and gas products topped £30 billion last year, according to new figures.

The Scottish Government’s latest analytical bulletin on the industry estimates that £18bn of crude oil and natural gas liquids (NGL) were exported in 2012, £12.6bn of which went outwith the wider UK…

MERGERS and acquisitions (M&A) activity is escalating among junior oil and gas companies as they attempt to diversify exploration risk and secure cash flows, according to EY’s latest quarterly report on the sector.

Barry Fraser, executive director at the accountancy firm’s Aberdeen practice, said: “Deal making is back on the…

The future development of the North Sea’s marginal fields represents “a huge market with unforeseen potential”, according to oil industry consultant RMRI.A report, commissioned by Enegi Oil’s (LON:ENEG) associate ABT Oil & Gas, claims technology will be the key to unlocking scattered, smaller North Sea discoveries and doing so…