Energy Voice | Energy bankruptcies fell below 50 filings in 2018

North American oil and gas bankruptcies fell to just 43 filings in 2018, down from 70 a year prior, according to the law firm Haynes and Boone. Bankruptcies have continued to decline since the last oil bust ended in late 2016. However, since early 2015, an estimated 367 companies have filed for bankruptcy, including 177 […]

Energy Voice | Faroe CEO to pocket £12.5m as exit looms

Faroe Petroleum’s chief executive will pocket £12.5million as he leaves the company following a hostile takeover by Norwegian oil operator DNO. Graham Stewart, along with chief financial officer Jonathan Cooper and chief operating officer Helge Hammer, has been given three months’ notice to step down. Faroe said in a statement that the directors will stay […]

Energy Voice | Four more sentenced in North Sea corruption case

Four more shipping executives were sentenced today in the North Sea bribery case involving logistics firm FH Bertling. The company, who hold a base in Aberdeen, has been under a four-year investigation to locate bribes paid out to win a £16 million North Sea exploration project. It’s understood cash incentives were paid by executives to ensure […]

Energy Voice | Climate group accuses Environmental Agency of failure over fracking report

Friends of the Earth claimed the Environment Agency (EA) failed to consider techniques which could reduce the environmental impact of fracking at the energy firm’s site in Little Plumpton, Lancashire. The environmental campaign group argued the EA should have considered the use of a better technique for dealing with “flowback fluid”, fluid which returns the […]

Energy Voice | Projects boost for Maritime Developments

Offshore engineering firm Maritime Developments said yesterday it had “milestone projects globally” helping it grow after a few challenging years. The Aberdeen-based company has come through the oil and gas downturn to report a second consecutive year of increased turnover, though profits fell slightly during the 12 months to March 31 2018. Finance director lan […]

Energy Voice | Shell’s Curlew FPSO off to Turkey for scrapping, via Dundee

Oil giant Shell said today that the vessel for its Curlew field in the North Sea would be taken to Turkey for dismantling. But the Anglo-Dutch firm will first take the FPSO to Dundee later this year after awarding the contract for cleaning and waste disposal to Augean North Sea Services (ANSS). It will be […]

PGS Begins Phase 4 of Sabah Seismic Shoot Off Malaysia

PGS has started the Phase 4 of the Sabah MultiClient 3D (MC3D) survey using the Ramform Hyperion vessel. Sabah represents the first ever MultiClient project in Malaysia, the company said. PGS will acquire up to 10 000 sq. km of GeoStreamer data, adding to the existing 37 000 sq. km multi-phased Sabah MC3D. […]

Energy Voice | Equinor wraps up Rosebank acquisition

Norwegian energy giant Equinor said today that it had completed a deal to take control of one of the UK North Sea’s largest remaining oilfields. Equinor announced in October that it had agreed to buy Chevron’s 40%-operated stake in Rosebank, heralding a return to the project after an absence of more than five years. The […]