Seven highest risk countries for oil and gas workers
Seven of the most dangerous countries for travellers next year have been identified by an company that advises oil gas workers abroad.
Nor Solan christened for Premier’s Solan field
A new field support vessel destined for Premier Oil’s £538million Solan field was christened in time-honoured form in Aberdeen harbour with a bottle of Champagne.
RGU appoints former industry leaders to its Oil and Gas Institute
Robert Gordon University (RGU) has appointed two former industry leaders to its Oil and Gas Institute (OGI).
Oil price crash starting to “bite”, says EY
Growth in the economy of the north-east is set to hit reverse as the effects of the plummeting price of oil and gas is starting to “bite”, economists have warned.
PDI rebounds from Ceona administration plunge to book new work
An Aberdeen firm whose owner collapsed into administration is still going strong after winning a £1.5million contract in Nigeria.
Former Asco director faces jail in Oman
A former employee of north-east oil and gas services giant Asco fears being jailed in Oman next week over a contract payment dispute.
Nautronix was £1million in the red prior to Proserv takeover
Aberdeen marine technology firm Nautronix had fallen £1million into the red ahead of it being bought out by Proserv, accounts posted at Companies House have shown.
Saltire Energy boss picks up business accolade
The chief executive of Portlethen-based Saltire Energy, Mike Loggie, has added another gong to a fast-growing list by winning the entrepreneur of the year title at a business awards event.
Offshore Achievement Awards 2016: Entries to close soon
There is just over a week left to enter the 2016 Offshore Achievement Awards, which offers companies and individuals the opportunity to be recognised amongst some of the industry’s greatest success stories of the last 30 years. The awards scheme this year has been adapted to reflect the challenges facing the industry since the falling price of oil has impacted the North Sea industry. This year sees the return of well-recognised categories, such as Great Large and Great Small Company, Young Professional, Emerging Technology, Safety Innovations, The Innovator and Export Achievement.
Qatar’s sovereign wealth fund sells Shell shares
Qatar’s sovereign wealth fund has sold shares in Shell and BG worth almost £1billion, raising fresh questions about support for oil firms’ proposed £47billion mega-merger.
Oil boss Bob Keiller joins panel to grill Scots entrepreneurs
A competition where Scottish entrepreneurs can win funding up to £100,000 will be judged by outgoing the chief executive of the Wood Group, Bob Keiller, at an event in Edinburgh next month.
MI Swaco lodges plans for Scottish barite mine
A new mine that could ensure a 50-year supply of a key ingredient of drilling mud used in the North Sea is taking shape.
Premier Oil eyes North Sea bargains
Premier Oil is eyeing North Sea bargains as the firm promised first oil from its Solan field in time for Christmas.
Aberdeen Asset Management boosts its power from solar energy
Aberdeen Asset Management has completed the installation of 1,000 solar panels on an investment property it owns in North London. The Aberdeen investment firm said the installation at the materials recycling facility (MRF) will provide an estimated 225,000 kilowatt hours (kWh) of electricity to tenant Biffa Waste Services, saving around 20 tonnes of carbon dioxide (CO2) annually.
Fabrication firm goes into adminstration
A north-east fabrication firm offering manufacturing services to the oil and gas industry has gone into administration. Harlen Fabrication in Dyce has appeared to suffer the effects of the downturn in the oil and gas industry. Calls were made to directors of the company were not returned.
Iona Energy asks for time regarding funding
Iona Energy has called for a two month extension on a debt restructuring plan after it raised concerns about the “funding position” of its partner, Atlantic Petroleum.
Experts lower their expectation for Scottish growth on lower oil price
An ailing oil and gas industry has forced experts to lower their expectations for economic growth across the whole of Scotland during 2015. Brian Ashcroft, emeritus professor of economics at Strathclyde University said yesterday the downturn offshore was stifling onshore service businesses throughout the country. He was speaking after the university’s Fraser of Allander Institute – an economic think-tank – delivered its latest commentary on the state of Scotland’s finances.
Ocean Kinetics sets sail for South Pole
A marine engineering firm has set sail for the South Pole to undertake what is thought to be the first underwater welding project of its kind inside the Antarctic Circle. Shetland and Aberdeen-based Ocean Kinetics has teamed up with civil engineers, Arch Henderson, to fix a quay thought to have been damaged by in iceberg at the British Antarctic Survey (BAS) Rothera Research Station.
First Hose sold in £6million deal
An Aberdeen-based supplier of hoses to the offshore oil and gas industry has been sold to a Swedish industrial firm in a deal worth up to £6million.
Maven Capital Partners injects £5.4million into energy engineering firm
Maven Capital Partners has injected £5.4million into an energy engineering firm that has successfully diversified from oil and gas to the off and onshore wind sector. GEV Group, which has an office in Aberdeen, will use the funds to support its “impressive growth plans”, Maven said. Maven said the investment means GEV is well positioned to capitalise on the projected growth in wind power, driven by global emissions and fossil fuel reduction targets.
Smiths Group snaps up XPD8
Global industrial giant Smiths Group has snapped up an Aberdeen-based energy consultancy. XPD8, founded in 2003, will become part of John Crane, the largest operating division of the FTSE-100 listed parent company. The deal marks an exit for XPD8’s private equity backer Maven Capital Partners and the firm’s founder, Mark Cavanagh.
BP cost cutting move is £5million blow to Islands
Shetland Islands Council faces a £5.5million chop to its budget next year after BP decided to ship oil to the lower-cost Port of Rotterdam rather than the Sullom Voe Terminal.
Hotels flag despite Offshore Europe
A busy Offshore Europe event delivered “staggering” occupancy levels for Aberdeen hotels, but failed to reverse an ongoing decline due to the oil price crash, new figures show. In what is the first report on the Granite city’s hotel trade for the key month of September 2015, LJ Research found that room occupancy fell 12.8% despite reaching 99% capacity halfway through oil week. The report also found that hotel room yields in the month were down 13.8% on September 2013 – the last time Aberdeen hosted the biennial oil and gas event.
North Sea energy firms break into new markets amid oil decline
North Sea energy firms are continuing efforts to break into new, global markets as the collapse in oil prices takes its toll on the supply chain. Firms like Aberdeen-based Reftrade UK, which specialises in providing refrigeration containers in harsh environments, is looking to the pharmaceuticals industry. Meanwhile, Enermech, a mechanical engineering group which has its headquarters in Aberdeen, has invested £250,000 to offer a mobile valves testing service in South Africa which takes in sectors as diverse as brewing and the pulp and paper industry.
UKOOG hails appointment of science educator
A pressure group for the unconventional oil and gas industry in the UK has hailed the appointment of a leading science educator to spearhead efforts to reassure communities that fracking is safe. Ukoog, which also represents the interests of other uncoventional onshore oil and gas plays, has appointed Professor Averil Macdonald as its chair. Professor Macdonald is Emeritus Professor of Science Engagement at the University of Reading and a board member of WISE (Women in Science and Engineering), consultant director of Highbury College, and was chair of the Expert Group for Women in Science until 2015.