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Posts on ‘February 4th, 2018’

Oil giant’s moves fuel recovery hopes in North Sea

Oil giant’s moves fuel recovery hopes in North Sea

MARK WILLIAMSON: 2 FEB 2018

FOLLOWING encouraging announcements from several firms, Royal Dutch Shell may have provided the clearest signal yet that brighter times are in prospect in the North Sea following three grim years.

After the company announced bumper profits, chief executive Ben van Beurden seemed keen to flag the significance of Shell’s decision last month to redevelop the giant Penguins field off Shetland.

He noted the move followed a period in which Shell focused on selling off North Sea assets and cutting costs in response to the sharp fall in oil prices since 2014. read more

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