Plan for offshore power station in Scottish waters
An area off the coast of Scotland has been selected for what could be the "world's first" offshore power station, it was announced yesterday.
Oil industry chiefs rapped for blaming each other
President Barack Obama yesterday criticised the "ridiculous spectacle" of oil industry officials pointing fingers of blame at each other for the catastrophic spill in the Gulf of Mexico.
US hearing prompts oil spill ‘blame game’
BP TOLD the US Congress yesterday its massive oil spill in the Gulf of Mexico was caused by the failure of a crucial safety device made by another company.
Energy giants urged to reinforce security measures
OIL and gas giants operating in European waters were urged yesterday to reinforce security measures in the wake of the Gulf of Mexico oil rig explosion which is turning into an ecological disaster.
Shell profits soar by 49% as oil price rises
Royal Dutch Shell reported yesterday a 49% surge in first-quarter profits as the energy giant joined rival BP in benefiting from higher oil prices.
Oil giant BP to expand its North Sea stake
Oil giant BP said yesterday it was boosting its interests in the North Sea by acquiring Total's stakes in two Norwegian oil fields for more than £640million in cash.
Oil prices ‘running ahead of recovery’
OIL prices are overheated following crude's recent run to 18-month highs, according to the International Energy Agency (IEA).
Liz disappointment hits explorers
Shares in Desire Petroleum and Rockhopper Exploration tumbled yesterday after confirmation that the first well drilled off the Falklands in more than a decade had been a disappointment.
Marine energy contest delayed by two years
The Scottish Government's £10million Saltire Prize for marine energy has been delayed by two years, it was confirmed yesterday.
BP makes first move into oil-rich South American state
BP has planted its flag in oil-rich Brazil for the first time with a £4.7billion deal for deepwater assets.
Shell plans to cut further 1,000 posts
Royal Dutch Shell said yesterday it would cut a further 1,000 jobs worldwide this year after reporting a 69% slide in annual profits to £6.1billion.
Major Iraq win for energy consortium
The post-war carve-up of Iraq's oil reserves moved up a notch yesterday, when dealmakers from the world's largest energy firms assembled in Baghdad to bid for some of the country's most prized assets.
Accord on renewable energy signed
AN AGREEMENT signed yesterday between Scotland and India aims to boost green energy in both countries.
Wave power projects are given £22million incentive
Wave and tidal developers were invited yesterday to bid for £22million of new UK Government funding aimed at speeding up the development of marine energy.
UK oil giant makes major find in Gulf of Mexico
BP shares were given a boost yesterday after the energy group announced a "giant" oil discovery in the Gulf of Mexico.
Wind-turbine group reports rise in revenue
The wind-turbine manufacturer whose decision to cease UK production sparked an 18-day factory occupation by protesting workers has posted a 29% rise in half-year revenue.
Oil service company to shed 69 jobs
AN INTERNATIONAL oil service firm is shedding nearly a quarter of its workforce at a site in Northern Ireland.
Crude oil futures show a sharp rise
CRUDE oil futures prices rose sharply yesterday as Wall Street was fuelled by optimism after monthly data showed the manufacturing sector in the US shrank at a slower pace in July.
BP’s £1.9bn haul down 53% on previous year
Oil giant BP announced a slump in quarterly profits yesterday, but said it continued to steer a steady course through choppy waters.
Job-cut details expected from Shell
More details are expected from oil giant Shell this week on its job-cut plans, though it is still unclear what the impact will be on the 2,000-plus people working from Aberdeen.
Oil giants BP and Shell expected to report large falls in profits
OIL giants BP and Shell are expected to report large falls in second-quarter profits this week.
Plans for Scottish oil fund ‘too late’
The Scottish Government's bid to set up an oil fund has come too late in the life of the North Sea, an industry expert said last night.
Major Venture investors agree Centrica’s hostile offer too low
Two of the biggest investors in Venture Production yesterday backed its rejection of Centrica's hostile £1.3billion bid.
Centrica bids to woo shareholders
British and Scottish Gas parent Centrica will this week attempt to win over more major shareholders of Venture Production to its hostile £1.3billion cash takeover bid for the oil and gas operator which has its HQ in Aberdeen.
North Sea ‘crunch’ on way, energy chief warns
Britain faces an "energy crunch" if steps are not taken to help its offshore sector, an industry leader warned yesterday.