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Scottish North Sea oil reserves six times higher than estimated
2014-08-18 11:50:00| Climate Ark Climate Change & Global Warming Newsfeed
Blue and Green: A new report from business organisation N-56 has said that revenue from oil in the Scottish North Sea could be as high as 365 billion over the next few decades, rather than the 57 billion previously estimated. The study argues that the figures put forward by the Office for Budget Responsibility (OBR) for oil revenue for the next 30 years are far too pessimistic compared to the industrys forecast. If measures to maximise profits are put in place, such as a new tax regime and the creation...
Lime Petroleum surrenders three North Sea licenses
2014-07-28 01:00:00| Offshore Technology
Lime Petroleum Norway has decided to surrender three licenses located in the North Sea, following the deadline for a drill or drop decision by 23 July.
Tags: north
sea
licenses
petroleum
ABLE Upgrades North Sea Flare Gas Metering Systems
2014-07-24 15:05:00| Offshore Technology
A major North Sea oil and gas operator has upgraded the flare gas metering systems on three of its platforms to the current generation of the Fluenta range of ultrasonic meters.
Siemens installs fourth HVDC offshore platform in North Sea for TenneT
2014-07-22 01:00:00| Power Technology
Siemens has completed installation of a fourth high-voltage direct current (HVDC) offshore platform in the North Sea, marking a step ahead for grid connections of sea-based wind farms.
Tags: north
sea
fourth
platform
North Sea Oil sees investment dwindle under regulation change
2014-07-18 17:37:00| Climate Ark Climate Change & Global Warming Newsfeed
Blue and Green: Investment in North Sea Oil has been stifled due to ongoing changes to regulation regarding how the firm operates, a report has stated. The report, by business advisory firm Deloitte, has said many companies may be applying a wait and see policy before committing funds as the industry goes through major regulation changes. The changes derive from rising production costs, with an intent to maximise profit for the UK oil and gas industry. The Oil and Gas Authority, a new regulator still...
Tags: change
north
sea
investment
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