Tag: North Sea

• Tuesday, January 11th 2022 - 13:41 UTC

  North Sea Oil Operators Set For Near Record Cash Flows

  

  By Tsvetana Paraskova for Oilprice.com – UK North Sea operators will see near-record cash margins and profits this year as they will look to extend field lives amid high oil and gas prices in a “now or never” regulatory environment, energy consultancy Wood Mackenzie says.

• Thursday, March 25th 2021 - 17:55 UTC

  UK: Green energy transition backed by the historical North Sea deal

  

  The United Kingdom becomes the first G7 country to agree a landmark deal to support the oil and gas industry’s transition to clean, green energy. The UK government announced on Wednesday a landmark North Sea Transition Deal is agreed with industry and high-skilled oil and gas workers will not be left behind in the transition to a low carbon future.

• Wednesday, January 13th 2021 - 09:33 UTC

  Premier Oil becomes Harbor Energy; merges with Chrysaor to make North Sea's largest oil and gas producer

  

  Premier Oil announced on Tuesday that shareholders voted in favor of a reverse takeover of private equity-backed Chrysaor to create the British North Sea’s biggest oil and gas producer in which Premier shareholders will hold about 5.5%.

• Friday, April 19th 2019 - 09:27 UTC

  ConocoPhillips pulling out of the North Sea oil exploration and production

  

  ConocoPhillips is pulling out of UK exploration and production after selling its North Sea oil and gas assets to Chrysaor for US$ 2.68bn (£2bn). The sale will boost Chrysaor's production by about 72,000 barrels a day to 177,000 - making it one of the UK's biggest operators.

• Monday, January 14th 2019 - 06:40 UTC

  Premier record oil production helps significant cuts in its debts

  

  Premier Oil has taken advantage of its second consecutive year of record oil production to make larger than expected cuts into its still-significant debts. The London-listed oil and gas developer, with interests in the Falkland Islands, expects its financial results to reveal end-of-year debts of US$2.3 billion, after removing US$390 million from the total following a sharp rise in oil output.

• Thursday, August 23rd 2018 - 08:33 UTC

  First container vessel attempting the melting Arctic sea route north of Russia

  

  Danish vessel setting sail from Vladivostok this week is set to become the first container ship to tackle the Arctic sea route north of Russia. The Venta Maersk, owned by Maersk Line, and carrying 3,600 containers, hopes to reach St Petersburg by late September. That could be up to 14 days faster than the southern route via the Suez Canal.

• Tuesday, August 20th 2013 - 01:14 UTC

  Tolmount gas discovery in the North Sea could be one of the largest in a decade

  

  Germany's E.ON says the size of a gas discovery made in the UK almost two years ago could be “significantly” larger than it previously thought. The integrated player said data from a recent appraisal well at the Tolmount discovery off the UK could make the find “one of the largest discoveries made in this part of the North Sea for several years”.

• Tuesday, April 30th 2013 - 21:00 UTC

  UK Ministry of Defence deems wind towers a national security threat

  

  By John C.K. Daly of Oilprice.com - Twenty-plus years on, the collapse of the USSR in 1991 threatened massive Western defence budgets, bereft of a major enemy like the “Evil Empire.”

• Friday, June 29th 2012 - 01:13 UTC

  Britain forecasted to import 80% of gas consumed as early as 2016

  

  Britain’s declining oil and gas industry may be a minnow on the world stage, 20th largest oil producer and 15th largest gas producer in 2010, but it is still remarkably important for jobs and the UK economy, reports Citywire.