News Archive for: March 2015

A new gas project west of Shetland shows there is still a bright future for the UK North Sea industry, Energy Minister Matt Hancock said last night.

He was speaking after French energy giant Total announced it had received Department of Energy and Climate Change approval for its £990million Edradour…

Oil prices dropped on Tuesday after activity in China’s factory sector fell to an 11-month low and as Saudi Arabia said its production was close to an all-time high.The flash HSBC/Markit Purchasing Managers’ Index (PMI) dipped to 49.2 in March, below the 50-point level that separates growth in activity…

Oil prices dropped about a percentage point in early Asian trade on Monday after Saudi Arabia said over the weekend that it would not unilaterally cut its output to defend prices.Benchmark Brent crude oil futures were trading at $54.79 a barrel early on Monday down 53 cents from their…

EnQuest, an independent UK-based oil and gas company, has informed that works on the Enquest Producer FPSO at the OGN yard in Newcastle have been completed.

The 249m long Floating Production, Storage and Offloading (FPSO) vessel left the yard in Newcastle following major modification and life extension work.

According to Enquest, the vessel and has…

North Sea-focused oil producer EnQuest (ENQ.L) said it would be able to invest more money in some of its North Sea oil fields after Britain announced cuts to oil and gas taxes.

Chancellor George Osborne on Wednesday unveiled a series of tax cuts aimed at helping oil firms in Britain’s…