Oil & gas news

First oil at the Wressle oilfield development in North Lincolnshire, UK, is expected during 2H20.

The Bressay oilfield was discovered east of Shetland in 1976 and Equinor became operator in 2007.

Included in the current quarter were impairments and other net charges of US$1.8 billion primarily associated with downward revisions to the company's commodity price outlook, severance accruals of US$780 million, and a gain of US$310 million on the sale of Azerbaijan assets.

Marwell has successfully installed a tailored and cost-effective solution to replace centraliser subs for a major international oil company.

Exxon has said it is undertaking a comprehensive evaluation across the businesses on a country-by-country basis.

Wildcat well 7219/9-3 was drilled about 25 km south of the Johan Castberg field in the Barents Sea and 220 km northwest of Hammerfest.

Covid-19 has led to a crisis in the global oil industry with a dramatic fall in prices and weak consumer demand creating difficulties for the upstream sector right now. Keith Tilley, CEO, Intoware, explains why companies must re-think their digital strategies or risk being left behind.

Oil prices rose a bit today, correcting some of yesterday’s losses, which were more a sign of shock on economic collapse figures. Nevertheless, traders brace for August, a month of returned production from OPEC+ amid stalled demand recovery.

The company is investing US$1 million in the California-based company Clean Energy Systems to help develop a new technology called Carbon-Negative Energy.

Ampelmann and Olympic Shipping are supporting topside commissioning work on Ithaca Energy’s FPF-1 offshore semi-submersible in the North Sea.