Europe ///
Bilfinger will perform inspection services on the offshore assets of Total E&P (Exploration & Production) Denmark. The €40 million ($48.6 million) contract will be booked under Bilfinger’s Engineering & Maintenance Europe segment.
The leading representative body for the UK offshore oil and gas industry has today paid tribute to former Energy Minister Paul Wheelhouse and urged all parties to support the sector and its world class supply chain in order to realize homegrown greener energy.
Neptune Energy announced it has acquired a 38.75% equity interest from Spirit Energy in the Pegasus West discovery and surrounding acreage in the UK Southern North Sea.
Sulzer has broken ground on a new service center in Denmark that will provide its full range of product sales and maintenance services throughout the region, all from under one roof.
EnQuest PLC, an oil and gas production and development company, announced it signed an agreement with Whalsay Energy Holdings Limited to purchase Whalsay’s 100% equity interest in the P1078 license containing the proven Bentley heavy-oil discovery.
Schlumberger posted better-than-expected earnings Friday and forecast an increase in overseas spending by customers in the next quarter. Earlier in the week, Halliburton said oil markets outside North America may see double-digit growth in the second half of 2021, while Baker Hughes predicted a modest recovery in Latin America, the North Sea and the Middle East.
There have been signs across the oil market of traders expecting tighter supplies following the Saudi cuts. The shape of the Brent futures curve returned to backwardation earlier this week, meaning more immediate prices are trading at premiums.
The 250MW corporate power purchase agreement, the largest ever for offshore wind in Europe, will help Amazon achieve their commitment to be net zero carbon by 2040 as set out in their Climate Pledge.
It's a tale of two cities with the EU's largest oil producer swearing off production by 2050, as OPEC+ stalwarts Saudi Arabia and the UAE grapple over who will lead the group's drive to meet the world's future oil demand.
Denmark, the European Union’s biggest oil producer, will stop offering new licenses in the North Sea and phase out production altogether in 2050 as it takes an historic step toward a fossil-fuel free future.
Repsol SA will reduce its dividend next year as it outlined plans to wind down the search for oil and expand its renewable capacity fivefold during the next decade.
Schlumberger has announced that the company's board of directors in January 2020 approved the cancellation of the listing of the company’s common stock on the standard segment of the Official List of the London Stock Exchange and the cancellation of admission to trading of such shares on the main market of the LSE.
The global glut of the fuel has seen prices plunge in the U.S., Europe and Asia as a wave of liquefied natural gas hits the market. Associated gas from oil fields in North America also boosted supplies at a time when demand growth is under threat from a slowing global economy and the coronavirus.
Exxon Mobil plans to start gauging buyer interest in its UK and German upstream operations in the coming weeks as the oil major continues to divest overseas assets, people with knowledge of the matter said.
Global drilling and engineering contractor KCA Deutag announced that its land drilling operation has won new contracts worth approximately $460m in the Middle East, Africa and Europe.
Jersey Oil and Gas PLC has revealed the findings of a new independent evaluation of its recently acquired Greater Buchan Area project in the North Sea.
Kurt Abraham, World Oil
Another mixed outlook awaits the E&P sector
The European Investment Bank plans to stop funding fossil fuels starting in 2021 as Europe steps up the fight against climate change, according to a draft of the EIB’s new energy strategy.
Aker BP ASA, operator of production license 442, has completed the drilling of wildcat well 25/2-21 (Liatårnet).
EnerMech, the Aberdeen-headquartered provider of specialist services to the energy and infrastructure sectors, has today announced that John Guy has been appointed as CEO, succeeding company founder Doug Duguid, who will assume the role of deputy chairman.