The demonstration was organized by pressure group "This Is Rigged" in response to Prime Minister Rishi Sunak's announcement of granting hundreds of new licenses for fossil fuel companies.

The underlying replacement cost profit, the key metric used by analysts, plummeted to $2.6 billion for the second quarter, down from $5.0 billion in the first quarter and $8.45 billion in the second quarter of 2022.

Offshore drilling contractor Borr Drilling has been awarded letters of award (LOA) for two premium jack-up drilling rigs, strengthening the company's firm backlog by approximately 421 days, excluding optional periods.

UK Prime Minister Rishi Sunak has expressed his commitment to "max out" developments in the North Sea while announcing government support for future oil and gas licensing rounds.

The Acorn project, based at St Fergus near Peterhead, will play a crucial role in capturing and storing industrial emissions from the central belt to the north-east in depleted oil and gas reservoirs offshore

During a call with analysts on Tuesday, following the release of BP's latest results, Looney revealed that the Seagull project is now expected to come online "later" in 2023.

The contract will utilize Valaris' VALARIS DS-7 drillship and is expected to last approximately 850 days, commencing in the second quarter of 2024.

Scottish Energy Secretary Neil Gray has expressed concern over the UK Government's approach to the just transition and called for a more robust commitment to climate checkpoints for proposed new North Sea licences.

The decision has triggered a backlash from those advocating for a more decisive shift towards renewable energy sources.

These licenses were jointly held with Capricorn Energy PLC, but after Capricorn's formal decision to withdraw from them the joint venture plans to relinquish the licenses at the earliest opportunity, according to Deltic's statement.