(Bloomberg) — The U.K. oil and gas industry faces a faster decline if Prime Minister Theresa May fails to agree to a trade deal with the European Union, as restrictions on the movement of workers and equipment would increase costs. A “no deal” Brexit, which has become a stronger possibility after talks ended in a deadlock… Read more »
Monthly Archives: October 2017
Cost Control Key to North Sea Production Growth
The North Sea is back. Again. Having already been written off once in the 80s and survived, North Sea production is now seen to be recovering even in the Era of Shale thanks to the lower cost structures brought by independent operators. Those were part of the assessments presented by S&P Global Platts at the… Read more »
ExxonMobil ‘Puts Guyana on the Map’ with Discovery
Exxon Mobil Corp. on Thursday reported its fifth new oil discovery after drilling the Turbot-1 well offshore Guyana with the Stena Carron drillship. “The results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana,” ExxonMobil Exploration Co. President Steve Greenlee said in a company announcement. “ExxonMobil, along… Read more »
Scotland Rejects Fracking, Citing Overwhelming Public Opposition
EDINBURGH, Oct 3 (Reuters) – Scotland will block fracking indefinitely after a public consultation found overwhelming opposition to the practice, the British region’s energy minister said on Tuesday in a victory for environmentalists. Scotland imposed a moratorium on fracking, the process of fracturing underground shale rock to release gas and oil, in 2015 and that… Read more »
