Signs of increasing panic among producers about the effect of lower oil prices on their economies as Opec prepares to call an emergency meeting as oil producing nations fret over the slump in crude prices.

Nigeria’s oil minister and the current president of Opec, Diezani Alison-Madueke, said further price volatility would make it “highlyShell plans demise of Brent Delta platform likely that I will have to call an extraordinary meeting of Opec in the next six weeks or so”, before adding: “We’re already talking with member countries.” Read more...

North Sea oil and gas industry suffers worst losses in decades

The North Sea oil and gas industry is facing a severe challenge to its future viability after suffering a dire year which involved the worst losses in decades, a new report has revealed.

Oil & Gas UK said its annual activity survey painted a bleak picture of the North Sea’s prospects after discovering that the sector as a whole lost £5.3bn last year, the worst figure since the 1970s. Read more...

Shell plans demise of Brent Delta platform

Shell is to start the process on Tuesday which will lead to the dismantling of a platform on the Brent oil field in the North Sea, closing a chapter in Britain’s post-war industrial history. Read more...

Scotland could use oil price crash to kick-start CCS

Shell’s announcement that it is to decommission North Sea oil platform could open up an opportunity for carbon capture and storage (CCS). Read more...