Smaller oil firms fuel revival of U.K. North Sea: big producers reduce presence over taxes; a good opportunity

Article Abstract:

Smaller petroleum companies are finding that their leaner cost structures are more suitable for the mature North Sea basin and its higher taxes than the larger firms. Companies including Venture Production PLC, Oilexco Inc., and Perenco S.A. are making use of the opportunity. Venture Production has indicated interest in Esso and Shell assets as larger firms reduce their presence.

Government domestic functions, North Sea, France, Natural resources, Natural resource policy, Venture Production, Perenco

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Shell suspends payment to its U.K. pension fund

Article Abstract:

Payments have been suspended to Royal Dutch-Shell PLC's UK pension fund for a minimum of one year beginning from the end of July. It is the first time the Anglo-Dutch petroleum firm has enacted such a suspension since 2002. Shell's UK pension fund stands at 12 bil pounds sterling, or $24.55 bil.

Personnel administration, Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Netherlands, Compensation and benefits, Royal Dutch-Shell PLC

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