The founder of an Aberdeen corrosion company has joined forces with a larger Norwegian group as part of a global expansion plan. Allan Durham, the owner and managing director of Corrosion Solutions (CSL) has completed the sale of the business he founded in 1998 to Stavanger-based Presserv. The value of the transaction was not disclosed.
The new owners of an Aberdeen-based offshore health business announced it has invested £1million in new technology and hired a chief operating officer.
The price has been coming down for several months because production from Saudi Arabia is strong, from Iraq it’s strong, from Russia it’s quite strong. From the US there’s been a little bit of a fall but not very much. Market makers have been anticipating Iran sanctions to be lifted, but did not know when until quite recently.
North Sea companies have been urged to look east following the lifting of trade sanctions in Iran.
The lifting of sanctions on Iran is good news for Scottish exporters and oil and gas service companies, but a legal expert has warned that with a US trade embargo still in place, Western banks remain reluctant to support Iranian related businesses.
There is quite a difference between EU sanctions lifting on implementation day than in the US.
Shell boss Ben van Beurden is optimistic that shareholders will overwhelmingly back its mega-merger with rival BG Group as investors mull the final case put out by both oil giants later this week.
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.
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.
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
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.
French oil services giant Technip has taken a minority stake in an offshore welding subsidiary of tubular steel firm, Vallourec.
Billionaire Jim Ratcliffe is known for driving a hard bargain and running a tight ship.
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 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.
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.
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.
Lower for longer’ – is the mantra many people in oil and gas circles are now adopting, as we move in to 2016 and beyond.
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.
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.
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.
In the movie musical Grease it was Olivia Newton John who said it best: “You better shape up”.
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.
Multi-national firms including a number of oil and gas companies have been allocated ministerial “buddies” to allow improved access to government.
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.
