Employment in the UK offshore oil and gas sector fell 14% in 2017, to around 280.000, Oil & Gas UK said in its workforce report on the 23rd August. The report, however, notes a slight increase in offshore jobs for 2018. The industry body…
Scottish public sector revenue was estimated as US$76.7 billion (£59.6 billion) in 2017-18, of which US$1.6 billion (£1.3 billion) was North Sea revenue. That is according to the latest Government Expenditure and Revenue Scotland (GERS) publication, which highlighted that non-North Sea revenue jumped 3.6…
US Energy Corporation has entered into a Memorandum of Understanding to acquire oil and natural gas producing properties targeting the Bakken formation of North Dakota, the company announced on the 22nd August. The US$17.8 million agreement with APEG, an affiliate of APEG Energy II,…
BHP’s latest exploration well offshore Trinidad and Tobago has encountered hydrocarbons. The initial well in the company’s Northern licence area, Bongos-1, had to be cut short after experiencing mechanical issues. Bongos-2, spudded by the Deepwater Invictus on the 23rd July, was more successful,…
Bosch is pressing ahead with the development of fuel-cell technology for potential new power systems. Together with the technology specialist Ceres Power, based in Horsham, England., the company wants to develop the next stage of solid-oxide fuel-cell (SOFC) technology. Bosch also plans to…
Oil production from the Partitioned Zone shared by Saudi Arabia and Kuwait, shut in since 2015, will resume “soon,” according to the Kuwaiti oil minister. . “Matters with brothers in Saudi Arabia are going at a steady pace, and we expect the return of production…
US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 5.8 million bbl for the week ended the 17th August, according to data from the US Energy Information Administration. At 408.4 million bbl, US crude oil inventories are at the 5-year average for…
Ophir Energy has received shareholder approval for its previously announced acquisition of Santos Limited’s assets in South East Asia. Ophir announced the proposed acquisition of a package of Southeast Asian assets from Australia’s Santos Limited for US$205 million in May this year. At…
Australian energy company Santos is set to buy its compatriot Quadrant Energy for US$2.15 billion, plus potential contingent payments related to resources from recently struck Dorado oil find. Quadrant Energy holds natural gas and oil production, near and medium-term development, appraisal and exploration assets…
China’s shipowners are shunning Iran’s oil, while the OPEC producer is using its own tankers to supply top customers as impending US sanctions threaten to disrupt global crude trade. All 17 ships used to carry oil from the Islamic Republic to China in July…
