Enermech boss says recovery won’t come until end of 2017
Bosses at mechanical engineering group Enermech said they expect recovery in the oil and gas industry to take hold in the latter part of 2017 - at the earliest.
Plenty of interest in OTC, says travel boss
Energy travel specialist Munro’s has reported positive interest from UK companies keen to attend the world’s top oil show this year in Texas.
Shell executive set for BG top job
Top Shell executive Huibert Vigeveno is set to become the transitional chief executive of BG Group after the expected completion of the £34billion “mega-merger” of the two oil giants next month
OAA 2016: SPE Offshore Achievement hopefuls unveiled
The shortlist for a leading offshore industry awards scheme has been selected from a record number of applicants. Around 100 hopefuls submitted entries for the 2016 Offshore Achievement Awards (OAA), a record since the awards were re-launched in 2011 by the Society of Petroleum Engineers (SPE) Aberdeen Section.
Technip wins minority stake in Vallourec
French oil services giant Technip has taken a minority stake in an offshore welding subsidiary of tubular steel firm, Vallourec.
Ratcliffe eyes up shale prospects
Billionaire Jim Ratcliffe is known for driving a hard bargain and running a tight ship.
‘We’re the only buyers in sea of sellers’, says Ineos chief
Geir Tuft was recently revealed as the chief executive of Ineos Breagh, which manages the North Sea assets the chemicals giant acquired last year.
Billionaire Jim Ratcliffe pledges to run tight North Sea ship
Billionaire industrialist Jim Ratcliffe has pledged to drive out the inefficiency of his new North Sea assets - and has set up a new subsidiary to hunt for even more opportunities.
Bristow profits slashed by slump in offshore flights
A slump in demand for North Sea offshore flights has hit Bristow Helicopter’s bottom line although sales were underpinned by its contract to run emergency search and rescue (SAR) services for the British government.
Subsea UK Awards’ shortlist announced
The UK’s £9billion subsea oil and gas industry has been urged to celebrate success despite the downturn, as the shortlist for an award ceremony was unveiled.
Opinion: Lower for for longer – 2016’s mantra
Lower for longer’ – is the mantra many people in oil and gas circles are now adopting, as we move in to 2016 and beyond.
Brae Alpha platform remains shut down after gas line rupture
A north Sea platform remained shut down last night after a gas line ruptured on board the Brae Alpha. US oil and gas giant Marathon said it was conducting a “comprehensive investigation” into the incident which happened on Boxing Day. The firm said 73 workers remain on board the platform which is which is about 155 miles north east of Aberdeen after initial plans to evacuate were called off.
Dounreay ships 11 tonnes of nuclear waste to Cumbria
The company responsible for decommissioning the former nuclear plant at Dounreay has confirmed it has shipped 11 tonnes of radioactive material to Cumbria in its most recent financial year.
Radioactive uranium sent to Sellafield to reprocess
Dounreay Site Restoration (DSRL) confirmed it has sent 11 tonnes of “breeder” material - consisting of radioactive uranium - to Sellafield’s Magnox reprocessing facility last year, representing about a quarter of the material stored on site.
Wood Group PSN takes line out of Grease’s song book
In the movie musical Grease it was Olivia Newton John who said it best: “You better shape up”.
Lockheed Martin to investigate how NASA can unlock £1bn from aging assets
US defence giant Lockheed Martin has been commissioned to investigate how technology developed at NASA can unlock £1billion of savings in maintaining aging oil and gas assets.
Oil and gas firms assigned ministerial “buddies” in bid to improve access
Multi-national firms including a number of oil and gas companies have been allocated ministerial “buddies” to allow improved access to government.
Bond launches fixed wing service for rig workers
Bond Offshore Helicopters has launched a new service offering offshore workers heading to the North North Sea transport to Sumburgh Airport on fixed wing aircraft.
Vattenfall sells off stake in windfarm
The developer behind the proposed wind farm off the coast of the Trump International golf resort has raised £237million in the sale of another offshore energy project.
US buyers eyeing struggling North Sea oil and gas firms
American buyers are poised to throw lifelines to struggling small businesses in Scotland’s oil and gas industry, according to a mergers and acquisitions (M&A) expert.
Vistem unveils major expansion plans and jobs boost
An equipment supplier that lists BP, Shell and Total among its clients has unveiled major expansion plans that include taking its headcount from five staff to 15 and relocating its Aberdeen office to larger premises. Fraserburgh-based Vistem – which provides products including inflatable shelters and low-level access lifts – aims for a five-fold increase in turnover from £760,000 in 2015 to £4million in 2016.
Technology created by Aquamarine goes up for sale
Technology developed by wave energy company Aquamarine Power has been put up for sale as its administrators try to recoup some of the £90 million invested in the business. Graham Newton and James Stephen from accountancy firm BDO were appointed as administrators of the Edinburgh-based company in October. They were asked by its directors to find a buyer or investors for the business, but a month later in November no offers were on the table and so the firm ceased trading, with the loss of 13 jobs in Edinburgh and one in Belfast.
Aker Solutions’ Matt Corbin promoted to new global role
The UK managing director of Aker Solutions’ subsea business has been promoted and will be taking on a new, global role in the firm.
Oil industry to back new collaborative charter
The trade body for the North Sea oil and gas sector has called for the industry to back the tenets of a new charter that outlines collaborative behaviours to achieve “transformational change”.
Maritime Developments more than doubles profits
A back deck systems manufacturer more than doubled profits in its most recent financial year - but said it doesn’t expect the same results next year as it grapples with the effects of the oil price crash. Maritime Developments saw its pre-tax profits rise to £828,057 in the year to the end of March 2015, from £395,349 in the year prior, according to accounts filed at Companies House. Turnover of £11.6million was flat compared to 2014.