BP, Conoco Cutting North Sea Jobs
Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world's most expensive exploration areas as oil prices tumble. Although the cuts are relatively small for companies with dozens of thousands of employees, they come at a politically sensitive time in Britain as the Scottish independence debate continues and a May parliamentary election looms. BP said the cuts of 200 onshore staff and 100 contractors were part of a previously announced $1 billion reorganisation aimed at simplifying the company's structure after it sold billions of dollars of assets.
U.K. Offshore Oil and Gas Interim Report
The U.K. Department of Energy and Climate Change (DECC) issued a news release stating that the interim report on the economic and energy security opportunities still available from the U.K.’s offshore oil and gas resources has been completed. Among other things, the report recommends a new arm’s length regulatory body to oversee and develop a program to maximize the economic recovery of oil and gas for the U.K. Sir Ian Wood has published his interim report revealing the economic and energy security opportunities still available from the U.K.’s offshore oil and gas resources.
Bifab Contracted to Build GDF SUEZ Platform
The Rt Hon Edward Davey MP, Secretary of State for Energy and Climate Change, joined GDF SUEZ E&P U.K. in Aberdeen yesterday to witness the signing of another major contract with the U.K. supply chain for the Cygnus project. The deal with Burntisland Fabrication Ltd (BiFab) to construct the accommodation platform of the GDF SUEZ operated Cygnus development is one of several partnerships helping to deliver more investment and new jobs for U.K. companies. Having signed the Field Development Plan when the Cygnus Project was sanctioned in August 2012…
UK Shipping Carbon Budget Decision Deferred
UK Government announce its decision on international aviation and shipping emissions. Government will defer a decision on whether to include international aviation and shipping emissions in carbon budgets until the setting of the fifth carbon budget in 2016, by which point there should be more clarity on how aviation emissions will be tackled at an EU and global level. Last month, the European Commission proposed that it would suspend international aspects of the aviation EU Emissions Trading Scheme in order that progress could be made by the International Civil Aviation Organization in developing a global agreement on the treatment of aviation emissions.
Norway’s Crown Prince Opens Offshore Wind Farm
Today His Royal Highness, Crown Prince Haakon of Norway will officially open the Sheringham Shoal Offshore Wind Farm built off the coast of Norfolk by owners Statoil and Statkraft. The Crown Prince will open the wind farm at an official ceremony at historic Holkham Hall in North Norfolk with support from UK Secretary of State for Energy and Climate Change, Edward Davey; Norwegian Minister of Petroleum and Energy, Ola Borten Moe; Minister of Trade and Industry, Trond Giske; and the owners’ presidents and CEOs, Helge Lund from Statoil and Christian Rynning-Tønnesen from Statkraft. Sheringham Shoal is owned equally by Statoil and Statkraft through the joint-venture company Scira Offshore Energy Limited.
