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Serica Energy plc - Results for the six months ended 30 June 2024

Serica Energy plc - Results for the six months ended 30 June 2024   Serica Energy plc, a British independent upstream oil and gas company with operations in the UK North Sea today announces its unaudited financial results for the six months ended 30 June 2024. The results are included below and copies are available at www.serica-energy.com and www.sedar.com. Chris Cox, Serica's CEO, stated: "I am delighted to introduce my first set of results as Serica CEO. Prior to joi...

BP Bunge chairman becomes president of BP in Brazil

BP Bunge chairman becomes president of BP in Brazil   BP Plc has named Andres Guevara de la Vega as the new president for the group's Brazilian business, the oil and gas major said today. Presently, Guevara serves as chairman of the board of directors of bp Bunge Bioenergia, a Brazilian biofuels joint venture (JV) between BP and US grain trader Bunge Global SA. In June, the British company announced it struck a deal to take full ownership of the biofuels JV for about USD 1.4...

Oil and gas operators encouraged to adopt AI in light of rising costs

Oil and gas operators encouraged to adopt AI in light of rising costs   Operators of offshore, refinery and pipeline equipment are being encouraged to adopt new AI technology, which can help reduce time and cost in the general inspection of critical plant and equipment, such as valves, shafts, bearings, pipes, and more. The callout comes from Element Materials Technology (Element) and its Digital Engineering division, with unplanned downtime now costing companies up to 11% of their...

Energy industry champions revealed as OEUK announces finalists for annual Awards

Energy industry champions revealed as OEUK announces finalists for annual Awards   Outstanding individuals and businesses from across the UK’s offshore energy sector are revealed today as OEUK announces the finalists for its annual Awards, sponsored by Shell U.K. Limited. The industry’s brightest stars will come under the spotlight at OEUK’s celebratory ceremony on Thursday November 28 at P&J Live in Aberdeen. Well over a hundred nominations were considered b...

Halliburton Secures Services Contract Offshore Brazil

Halliburton Secures Services Contract Offshore Brazil   Halliburton has been awarded a contract by Petrobras to provide a full range of services in Brazil for integrated well interventions and plug and abandonment for offshore wells. The deal entails Halliburton to provide fluids, completion equipment, wireline, slickline, flowback services, and coiled tubing. “This contract, which covers nearly two-thirds of all interventions and plug and abandonment work for Petrobras, r...

UK Oil & Gas hydrogen storage project receives industry support

UK Oil & Gas hydrogen storage project receives industry support   UK Oil & Gas PLC has announced a major boost for its Dorset hydrogen storage project. Managed by UKOG’s subsidiary UK Energy Storage (UKEn), the planned facility has received a key letter of support (LOS) from The Solent Cluster, the primary group of industries expected to use the facility. The Solent Cluster is one of six major UK industrial hubs focused on reducing carbon emissions by switching to hyd...

Well intervention could boost UK's oil and gas supply chain, says NSTA insight report

Well intervention could boost UK's oil and gas supply chain, says NSTA insight report   Oil and gas well intervention offers opportunities for cleaner, more efficient, and cost-effective oil and gas production, according to the North Sea Transition Authority's (NSTA) 2024 Wells Insight Report, says GlobalData. Well intervention is any light or heavy operation carried out on an oil or gas well during or at the end of its productive life. It can provide highly useful diagnost...

Oil firms vow to fight judicial review of North Sea oil and gas projects

Oil firms vow to fight judicial review of North Sea oil and gas projects   Two of Europe’s biggest oil companies have vowed to fight two legal cases brought by environmental campaigners against their plans to develop new oil and gas projects in the North Sea. Shell and Equinor have said that they will defend their plans to develop new North Sea projects despite Labour’s decision to withdraw government support for the plans, which were approved by the Conservatives over...

OSSO grows construction fleet fivefold and is on course to double revenue this year as it marks significant construction milestones

OSSO grows construction fleet fivefold and is on course to double revenue this year as it marks significant construction milestones   OSSO, specialists in fluid temperature control and separation solutions, has announced significant milestones in its construction division, including a 75% increase in revenue for the year to date. Since its inception in 2022, under the leadership of Tristan Hughes, OSSO's construction unit has expanded its fleet of equipment by more than fivefol...

UK’s North Sea Policies Criticized As "Economic Suicide"

UK’s North Sea Policies Criticized As "Economic Suicide"   Hunting PLC CEO Jim Johnson is expressing serious concerns about the future of the UK’s North Sea oil and gas sector, describing the situation as “economic suicide” due to current policies. Despite the 150-year-old company seeing promising growth in South America and the Middle East, Johnson's outlook for the UK remains grim. Johnson criticized the UK's North Sea environment as &ldq...

Subsea7 reveals Shell behind ‘sizeable’ Gulf of Mexico EPCI contract

Subsea7 reveals Shell behind ‘sizeable’ Gulf of Mexico EPCI contract   Following the announcement of a “sizeable” contract award in mid-August with an unknown client, Luxembourg-domiciled Subsea7 has now revealed that the contract is for Shell’s waterflood project in the U.S. Gulf of Mexico. Subsea7 will provide engineering, procurement, construction, and offshore installation (EPCI) of a water injection flowline, hull piping, and associated subsea inf...

GNPC CEO Calls for Strategic Collaboration and Innovation at West African Energy Summit 2024

GNPC CEO Calls for Strategic Collaboration and Innovation at West African Energy Summit 2024   Accra, Ghana – At the opening of the West African Energy Summit 2024, Joseph Dadzie, Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), delivered a compelling keynote addressing the urgent need for strategic collaboration and innovation in the region’s energy sector. Speaking to a distinguished audience of industry leaders, government officials, and inter...

Shell, BP slip as oil heads for worst week in a year

Shell, BP slip as oil heads for worst week in a year   Shares in FTSE 100 heavyweights Shell PLC and BP PLC slipped on Friday as oil prices appeared to head towards their largest weekly decline in almost a year. At US$72.65 a barrel on Friday morning, Brent crude had fallen more than 8% over the course of the week, white West Texas Intermediate was down 9% at US$69.17. This was in spite of news the OPEC+ cartel would delay a planned increase in production from October to Decembe...

Shell and Equinor to fight North Sea judicial review

Shell and Equinor to fight North Sea judicial review   Shell and Equinor have vowed to fight legal cases brought by environmental campaigners against their plans to develop new oil and gas projects in the North Sea. This comes despite the new UK Government's decision to withdraw government support for the plans, which were approved by the previous administration over the last two years. Greenpeace called for a judicial review of the government’s go-ahead for the Jackda...

Talos Energy Announces New Discovery and Adds Additional 2024 Prospect in the Gulf of Mexico

Talos Energy Announces New Discovery and Adds Additional 2024 Prospect in the Gulf of Mexico   Talos Energy Inc. ("Talos") today announced that its Ewing Bank 953 well ("EW 953 well") successfully discovered commercial quantities of oil and natural gas. Separately, Talos entered into an agreement to participate in the Sebastian prospect, currently drilling in the Mississippi Canyon Block 387 of the U.S. Gulf of Mexico. The EW 953 well encountered approximately 1...

Citi says Brent crude oil could fall as low as $50 / barrel

Citi says Brent crude oil could fall as low as $50 / barrel   Citi forecasts oil prices could drop to $60 per barrel next year if OPEC+ doesn't increase production cuts. Then, from $60, prices could fall further to $50 before rebounding, influenced by financial flows. Geopolitical tensions are having minimal long-term impact on oil prices, with weaker rebounds after each spike. Markets now see these tensions as opportunities to sell during temporary price increases. Ci...

Hydro Group supports KIOST with renewable energy project on Jindo Island in South Korea

Hydro Group supports KIOST with renewable energy project on Jindo Island in South Korea   Hydro Group successfully completes renewable energy project in South Korea for KIOST. Hydro Group were delighted to support KIOST with a project in South Korea on Jindo Island by providing the HRC240 & HRC140 Renewable Connectors to be utilised in a Tidal Current Energy Converter. The company has a strong track record in high profile marine renewable energy projects around the world, su...

px Group wins contract to operate Widmerpool Biomass Plant in Nottingham

px Group wins contract to operate Widmerpool Biomass Plant in Nottingham   This is the second Biomass plant px Group will operate and maintain for sustainable energy specialists, Gren Widmerpool Biomass Plant is a key strategic asset designed to generate sustainable green electricity for the grid Neil Grimley, Managing Director of Downstream Projects at px Group said: “We are delighted to be working again with Gren who, as a business, are making huge strides in decarboni...

Global Female Energy Leader Recognized in Honouree List

Global Female Energy Leader Recognized in Honouree List   The Managing Director (U.S.) of global partner to the energy industry and leading travel management company ATPI has been recognized as an honouree in a female-led awards list. Judy Peplinski (nicknamed J.P.), Chief Commercial Officer - ATPI Energy Division & Managing Director, USA, has been chosen as an Outstanding Business Leader in Energy in the 2024 Women Who Mean Business honouree list. With 40+ years of experie...

STR hires Maxime Even as new GM in Singapore

STR hires Maxime Even as new GM in Singapore   Subsea Technology & Rentals (STR), a leading global provider of advanced sensor technology and solutions for the offshore energy and marine science markets, has welcomed Maxime Even as the new General Manager of its Singapore Technology and Service hub. With over two decades of experience in the offshore survey industry, Even will play a key role in supporting STR’s clients across Asia-Pacific (APAC) and the Middle East, whil...
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