NorthSeaOil

North Sea Oil Companies Grapple with Ongoing Tax and Permitting Uncertainty

1 month ago

North Sea oil companies are expressing deep concerns regarding the persistent uncertainty surrounding taxation and regulatory permits, which they argue is stunting growth and attracting new investments in the sector. These sentiments come against the backdrop of fluctuating oil prices and increasing operational costs, which have forced several firms to reevaluate their strategies in the region.

Petroineos Makes Historic Purchase of North Sea Oil, Acquiring Largest Benchmark Volume Since 2008

5 months ago

In a significant move that could reshape the dynamics of the North Sea oil market, Petroineos has completed a purchase of benchmark oil at an unprecedented scale. On November 13, 2024, the company announced that it had acquired nearly 8 million barrels of oil from the North Sea, a figure that represents the highest volume of its kind since at least 2008. This purchase not only underscores Petroineos's growing influence in the oil market but also highlights the ongoing volatility and competitive nature of energy sourcing in this region.