Government News


Norway investment to fall in 2017

Oct 08, 2015

The Norwegian government has said it expects oil and gas investments to fall nearly 21% by 2017, from a record high last year, in its 2016 budget, budget outlined 7 October.  With prices expected to remain low in the short-term, the pain is set to continue for the country…

Osborne to extend investment allowance

Jul 08, 2015

Chancellor George Osborne (pictured) has thrown a bone to the North Sea oil industry in his Summer Budget speech today (8 July). Osborne confirmed that the UK Government plans to broaden the types of investment qualifying for the Investment Allowance and cluster area allowances…

All eyes on Osborne for North Sea support

Jul 07, 2015

North Sea industry stakeholders have called on UK Chancellor George Osborne (pictured) to introduce additional measures to support the ailing oil and gas sector. The Chancellor is due to unveil his Summer Budget tomorrow (8 July). It…

NOIA selects new VP for government and political affairs

May 20, 2015

The National Ocean Industries Association (NOIA) has promoted Megan Bel Miller to VP for government and political affairs. She will lead NOIA's congressional relations and political action committee. Miller joined the NOIA staff in May 2013 as senior director of government & political affairs…

Sterling reasserts Ntem force majeure

Apr 23, 2015

London-based junior explorer Sterling Energy is challenging the expiration of its first renewal period on the Ntem concession offshore Cameroon. The firm declared a force majeure on the 100% owned Ntem concession in May 2014, due to its…

Warm-ish welcome for North Sea tax cuts

Mar 18, 2015

UK Chancellor George Osborne has announced a package of measures to support the North Sea oil and gas industry, which he said was in “pressing danger” from low oil prices. Presenting the UK’s 2015 Budget, Osborne (pictured) said: “It’s…

North Sea producers not covering costs

Jan 13, 2015

UK North Sea industry body Oil & Gas UK has said called on the UK Government to abolish a 30% charge on oil and gas producers as oil fell to its lowest prices in nearly six years.  The body says oil and gas producers in the basin are unable to cover their costs at US$50 a barrel…

Egypt repays Circle Oil

Jan 09, 2015

Middle East and North Africa focused oil and gas exploration and production firm Circle Oil is the latest to announce it has received a debt repayment from the Egyptian government.  The company received US$15 million, as part of the recent…

Under-sea CCS funding offered

Dec 18, 2014

The UK Government's Department for Energy and Climate Change has launched £2.5 million funding to encourage development of CO2 storage in the North Sea. The cash will help companies identify sites under the sea to store the CO2 emissions from coal and gas power stations…

KBR announces restructure

Dec 12, 2014

Less than one year into his tenure as the President and CEO of KBR, Stuart Bradie will spend up to US$1 billion to streamline and reorganize the energy engineering and construction giant following the results of a strategic review he initiated in June…

Biggest UKCS round in 5 decades

Nov 06, 2014

The UK Government has announced that 134 licenses, covering 252 blocks, are being offered in the 28th offshore licensing round.   Statoil, Total, Nexen, and EnQuest have the largest haul of operated licenses offered. A large number of smaller…

Uncertainty hampers North Sea activity

Oct 10, 2014

Uncertainty, high costs and low exploration rates are continuing to hamper the North Sea, according to a report published today (10 October).  Business advisory firm Deloitte’s Petroleum Services Group’s report says that exploration rates remain low…

Egypt repays $1.5 billion to oil firms

Oct 03, 2014

Egypt has paid off US$1.5 billion of its debt to foreign oil and gas companies, the country's petroleum minister has announced in a statement, according to Egyptian media. The payment, announced a day after the Egyptian government signed $1…

Upcoming Round 1 critical to Mexico's future

Sep 25, 2014

The results of Mexico’s upcoming bidding round for 109 exploration blocks and 60 producing fields could be crucial in determining the country’s future position as an oil and gas powerhouse, according to an analyst with research and consulting firm GlobalData…

Exxon, Rosneft to end Kara Sea drilling

Sep 19, 2014

ExxonMobil and Rosneft will end drilling operations in the Kara Sea due to Western sanctions. The West Alpha ExxonMobil released a statement today (19 September), which said the supermajor will comply with all US sanctions…

Current News

Oil Prices Up as Faith in Supply Cuts Grows

Oil Prices Up as Faith in Supply Cuts Grows

AET Takes Delivery of Petrobras-bound Shuttle Tanker

AET Takes Delivery of Petrobras-bound Shuttle Tanker

UK: All-Energy Event Postponed Again

UK: All-Energy Event Postponed Again

OGA: UK North Sea Gas Less Carbon Intensive than Imported LNG

OGA: UK North Sea Gas Less Carbon Intensive than Imported LNG

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