Oilfield machinery recycler adds to redundant asset stock
A mystery drilling contractor has reduced its asset inventory in a “stock reduction “ deal for equipment worth more than £14million.
Zennor has cash for more after First Oil deal
Zennor Petroleum is on the hunt for more UK North Sea bargains after snapping up assets that were owned by north-east businessman Ian Suttie and his First Oil group.
Strong gains for oil as traders say worst could be over
Oil markets jumped as much as 7% today as speculation about falling US shale output and a rally in equities fed the notion that crude prices may be bottoming after their 20-month collapse.
Aberdeen oil tanker firm posts record results
Aberdeen-based oil shuttle tanker owner and operator Knot Offshore Partners (KOP) posted record-busting results yesterday after strong take-up of its vessels during 2015.
Xcite gets some Bentley breathing space
Xcite Energy said yesterday it had won some breathing space to sort out financial arrangements for its Bentley project in the UK North Sea.
“Michelin man” to speak at jobs taskforce gig in Aberdeen
Scotland’s own “Michelin Man” is lined up to speak at a newly announced Energy Jobs Taskforce event in Aberdeen.
Wood Group enters new market
Wood Group is diversifying its business and entering a new market in the latest sign that times are changing in the North Sea oil and gas industry.
Eland reports record production far from home
North-east company Eland Oil and Gas is reaping the rewards of record production from an oilfield more than 3,000 miles from home.
Oil and gas firms £10billion worse off
The value of cash and assets held by leading oil and gas companies has fallen by more than £10billion in the past year, according to new research. A report said firms were “burning through” cash piles at a record pace as weak oil prices continue to “wreak havoc” in the sector.
Nobel eyeing other North Sea targets
North Sea newcomer Nobel Upstream has cash to spend on further acquisitions, the firm’s chief executive has said.
Expro boss poised to quit the oil and gas industry?
Expro chief executive Charles Woodburn is reportedly about to be unveiled as the new chief operating officer and potentially the next CEO at defence giant BAE Systems.
Aberdeen firm Oceanscan reveals expansion
Aberdeen company Oceanscan has snapped up a Staffordshire firm for an undisclosed sum.
Oil and gas firms facing even greater uncertainty in the future, PwC warns
Oil and gas companies need to look beyond short-term issues such as tumbling oil prices and prepare for even greater uncertainty in the future, a new PwC report says.
Aker sees potential for major projects on the horizon
Cost-cutting across the global oil and gas industry may allow major projects to be sanctioned over the next 12-18 months, Aker Solutions said yesterday.
Azeri oil tycoon takes his first stake in the UK North Sea
An Azeri oil and gas entrepreneur has made his first investment in the UK North Sea, snapping up a 7.59% stake in the Maclure field from Shell.
Suttie businesses makes £405
Two business controlled by multimillionaire Aberdeen businessman Ian Suttie have reported plummeting profits amid the global oil and gas downturn.
Total’s £3.5billion gas development upsets Shetland fishers
Shetland fishing chiefs have accused French oil and gas giant Total of inaction over dangers faced by boats in Yell Sound.
Harkand hails Caribbean adventure as a success
International subsea firm Harkand is celebrating success in the Caribbean after completing work for BP in the region. The company, which is headquartered in London, with operations bases in Aberdeen, Houston, Mexico, Nigeria and Ghana, said yesterday its Harkand Da Vinci diving support vessel carried out a major IRM campaign for BP Trinidad and Tobago.
Total reveals spending ambitions after Lagan-Tormore start-up
Start-up from the £3.5billion Laggan-Tormore gas development west of Shetland paves the way for £690million of investment in the area over the next 10 years.
Deadly gas detected on North Sea platform
Chevron North Sea’s Alba Northern platform was shut down after “low levels” of a potentially-deadly gas were detected.
IOG shares rocket after loan announcement
Shares in Independent Oil and Gas (IOG) are up nearly 23% today after the firm, which owns 50% of the Blythe gas field in the southern North Sea and 50% of the Skipper licence south east of the Shetlands, said it had conditionally agreed a £10million loan.
Obama proposal for new oil tax labelled “dumbest idea ever”
US president Barack Obama's surprise proposal yesterday to charge a $10 a barrel fee on crude oil, equivalent to one-third the going price, drew a swift response from traders and industry figures.
EU clears Schlumberger-Cameron deal
The European Union today cleared the purchase of equipment maker Cameron International by Schlumberger, the world's No 1 oilfield services provider.
EnQuest cutting 45 Granite City jobs
Oil and gas operator EnQuest is axeing 45 roles, including directly employed staff and contractors, in Aberdeen.
Annual subsea gongs help to lift the industry mood
Aker Solutions was celebrated as the best subsea firm of the year at a prestigious industry event in Aberdeen last night.