Oil still cheap at $140 a barrel – Simmons
ENERGY investment bank boss Matt Simmons said yesterday he believed the North Sea had a great future as a "capital of offshore wind".
Hunting has £365m war chest for acquisitions
Hunting, the international energy service company, said yesterday that after making three small acquisitions in 2009 it still had net cash of £365million and was continuing to look for further buys.
DECC spells out terms for Velo transfer
VELO Energy said yesterday it had received clarification from the Department of Energy and Climate Change on transfers of non-operated licence interests in the UK North Sea to the company.
Talisman work worth about £35m to Technip
TECHNIP said yesterday it had won two contracts from Talisman Energy (UK) worth about £35million for engineering, procurement and installation for the Auk North and Burghley fields.
PGS vessels contracted for North Sea
OIL and gas seismic survey specialist Petroleum Geo-Services (PGS) said yesterday the 2010 North Sea season was firming up.
Major oilfield service tie-up approved
Energy service giant Schlumberger and smaller rival Smith International are to join forces in an all-share deal which places a value on Smith of about £7.27billion.
Technical problem curtailing production at Buzzard
Nexen said yesterday the Buzzard oil field in the UK North Sea had reduced output to 30,000-50,000 barrels of oil equivalent per day (boepd) because of a technical problem.
UK oil firm presses on in Falklands – despite decree
British oil explorer Desire Petroleum said yesterday its drilling programme off the Falkland Islands will go ahead as planned, despite the Ar-gentine government's move to restrict access.
Aker Solutions forecasts further subsea growth
Aker Solutions said yesterday its long-term strategy remained firm and it would focus on cold climates, harsh environments and deeper waters.
Faroe starts drilling Norwegian prospect
Faroe Petroleum, of Aberdeen, said yesterday that drilling had begun on the Fogelberg prospect in Norwegian waters.
Global Energy (Holdings) forges ahead
GLOBAL Energy (Holdings), which has main offices in Aberdeen and Inverness, posted sharply increased sales and profits in the year to March 27, 2009.
Firm didn’t infringe tool patent, court rules
ABERDEEN oil services company Omega Completion Technology has welcomed a High Court ruling on litigation instigated by Westhill-based Red Spider Technology against it.
Optimism rises in British energy sector, says industry body
Industry body Oil & Gas UK said yesterday that business confidence had improved in the UK oil and gas sector but the overall picture remained fragile.
AGR gears up for well management venture
AGR Petroleum Services will begin a £2million-plus well management contract on a significant drilling campaign off the Falklands this month on behalf of two oil and gas explorers.
IC Training plans emergency response centre in city
NEW training and consultancy firm IC Training has opened in Aberdeen to deliver an integrated package of training solutions for oil and gas businesses internationally, aimed at ensuring competence in the workforce in technical and operational disciplines.
BG Group entering ‘new decade of high growth’
BG Group chief executive Frank Chapman said yesterday the energy company was entering a new decade of high growth, underpinned by a strengthened and rebalanced portfolio.
Maxoil extending global reach to Malaysia and Australia
OIL and gas consultant Maxoil Solutions looks set for a busy 2010, with plans to grow its global presence significantly over the next 12 months.
Group forecasts improved trading
COSALT, the provider of safety equipment and services for the offshore oil and gas and marine industries, said yesterday its top-line profits for the 53 weeks to November 1 were down from £7.23million to £5.49million.
Petrofac linked with development demerger
PETROFAC, the international oil and gas facility service provider, was linked yesterday with the possible demerger of its interests in the Don area of the North Sea.
Matrikon wins £9.7m project from Middle East oil company
Matrikon, which specialises in industrial intelligence services, said yesterday that through a joint venture it had won a £9.7million project from a Middle East national oil company.
Centrica to move upstream base north
Centrica Energy has revealed expansion plans for its business in Aberdeen, and has promised to relocate its upstream HQ to the city.
Tullow announces major African discoveries
Tullow Oil has announced its second big discovery in Africa in two days.
Gould predicts rise in spending among oil operators
SCHLUMBERGER, the world's largest oilfield service company, said yesterday that oil operators were likely to start increasing their spending on new projects.
Sovereign’s financial woes worsen
Sovereign Oilfield Group saw its shares dive 50% yesterday after warning investors it was uncertain its future trading performance would be able to support current debt levels.
Analyst expects improvement in upstream sector
Energy research firm Wood Mackenzie's latest report has revealed the impact of the depressed economic conditions on activity in the UK's upstream oil and gas sector during 2009.