Oil and gas industry skills and standards body Opito has appointed a new director of communications at its Aberdeenshire headquarters. James Hamilton has taken on the role after five years working in the United Arab Emirates as Opito’s Middle East and Africa standards and approvals manager and then its international workforce development manager.
Onshore US oil and gas exploration and production company Northcote outlined its hopes for Mexico as it announced the appointment of a full time executive vice president for operations in the country. Mexico has recently reopened its vast energy sector to international companies.
The pilots of a solar-powered aircraft on an historic round-the-world journey say they want the people of India to support their campaign for clean energy to save the global environment. Bertrand Piccard and Andre Borschberg spoke to reporters in the western Indian city of Ahmadabad a day after Mr Piccard flew the single-seat plane there from Muscat, Oman.
Subsea 7 has refused to say if more jobs will go across its global operations after it revealed 1,000 were shed in 2014. The energy service giant is also reducing its fleet capability by 10 vessels over a two-year period as it continues to look for ways to slash costs in the wake of the big drop in oil prices.
Uncertainty around the price of oil continues and once again the oil and gas industry must evolve. As companies adapt to the consequences of fluctuating oil prices, they also search for methods to streamline and economise processes.
Global laboratory testing, inspection and certification services firm Bureau Veritas (BV) said today it had "supercharged" its Optimise software to help offshore operators and contractors get more out of their assets and develop projects more cost-effectively. Matthieu de Tugny, senior vice-president and head of offshore, BV, said: "Low and falling energy prices focus attention onto the reliability, availability and maintenance (RAM) of both existing assets and plant and ongoing developments.
Australian oil and gas, upstream exploration company Global Petroleum today reports a widening of first half pre-tax losses to £1.54million. The latest trading deficit comes after losses of just over £1million a year earlier.
The largest new gas field to be discovered in the southern North Sea for 25 years is expected to lead to an economic boost across the east of England and a“massive benefit for UK industry". Gas will start flowing into Bacton later this year from the Cygnus field, one of the biggest projects in the southern North Sea for years.
Dutch communities rattled by earthquakes are upending Europe’s energy market. Towns in the northern province of Groningen sit atop the continent’s biggest gas field, where the Dutch government says exploration by oil and gas majors Royal Dutch Shell and ExxonMobil has triggered 196 earthquakes since 2013, damaging buildings and making home sales difficult.
US "fast track" power firm APR Energy has commissioned a 20 megawatt (MW) expansion of its generation plant in Myanmar. The Jacksonville, Florida-based company said the investment would provide the Myanmar Electric Power Enterprise with a guaranteed minimum of 102MW of power generation.
Tullow Oil's first well drilled in the large North Turkana basin in Kenya has not encountered any significant oil or gas, the London-listed company said today. But exploration director Angus McCoss said the Africa-focused firm still had a "vast amount" of undrilled acreage with identified prospects and leads providing significant remaining exploration potential.
Floating production, storage and offloading (FPSO) vessel services firm BW Offshore has today announced the sale of the supertanker BW Opal for £56.6million to BW Group. The deal value is based on independent reports and a technical inspection of the vessel, which is classes as a VLCC (very large crude carrier).
The US has removed sanctions against state-owned Belarussian energy company Belorusneft, Washington said today. The sanctions were imposed in 2011 because of the company's involvement in Iran.
Alkane Energy, which describes itself as the UK's market leader in cash generative base load coal mine methane, today announced an 18%-plus rise in profits to £3.2million. The pre-tax total is for the year to December 31 and compares with profits of £2.7million in 2013.
Aberdeenshire-based Eland Oil and Gas, a production, development and exploration company operating in west Africa, with a principal focus on Nigeria, said today it was benefiting from a share of 3,100 barrels of oil per day from the Opuama field. Total output from the Nigerian asset includes 1,395 barrels a day for Eland's joint-venture, Elcrest Exploration and Production.
The price of a barrel of Brent crude oil has dropped for a fifth consecutive day, its longest retreat in almost three months, amid signs that the global supply glut will persist. Brent fell as much as 2.9% in London and 1.9% in New York today.
The Scottish Government’s energy jobs taskforce is “delivering the goods” for energy workers made redundant by the recent slump in oil prices, MSPs have been told.
Oil and Gas UK's outgoing chief executive, Malcolm Webb, highlighted an "urgent need for regulatory and fiscal reform and improvements in cost efficiency" at a meeting with Shadow Chancellor Ed Balls today. Mr Webb, who hands over the helm of the industry body to Deirdre Michie on May 1, said: "The UK oil and gas industry is suffering from high costs, years of under-resourced regulation and a tax burden of between 60% and 80%, with the impact on competitiveness exacerbated by the collapse in oil prices.
The FTSE 100 Index saw its steepest one-day fall in five months today as the prospect of higher US interest rates and the latest drop in oil prices combined to send stocks tumbling. London’s top-flight saw £44billion wiped off its value as it fell 2.5%, or 173.6 points, to 6,702.8 - the heaviest percentage fall since October 15.
Aberdeen businesswoman Jeanette Forbes is to be one of the featured speakers at the Gulf Intelligence Women in Energy Summit, which takes place today in Doha, Qatar. Ms Forbes, chief executive of PCL Group, was invited to take part in the summit to address delegates on “Technology: Clearing the path for women to work in technical field?”
Indian tax authorities last night slapped oil explorer Cairn Energy with a £1billion draft assessment order on a business transaction in the country seven years ago. In retaliation, Cairn said it has instructed counsel to fight the notice, which the Edinburgh firm argues stems from retrospective legislation imposed in 2012.
Staff from the Bank of Canada and Suncor Energy are among scheduled speakers at a Canadian parliamentary committee that will review the impact of falling oil prices on the country’s economy. Executives from Canada’s energy, finance and manufacturing sectors are scheduled to speak to the standing committee on finance this week.
US oil giant Chevron will increase asset sales by 50% to nearly £10billion and curtail new investment for the next two years after plunging oil prices squeezed cash flow. The North Sea operator's divestment of oil and natural gas fields and other exploration and production assets will continue through 2017, chairman and chief executive John Watson said today.
Alternative investment market (AIM)-listed Lansdowne Oil and Gas said today it has placed 20,753,636 new ordinary shares with new and existing investors to raise about £1.04million before costs. The company, in which Aberdeenshire energy service group SeaEnergy has a 21.48% stake, has also issued a loan note to the value of £1,862,318 to 25.76% shareholder LC Capital Master Fund.
Scottish technology firm Cyberhawk Innovations has appointed new sales managers with a view to growing its business in the south-east Asian and Middle East oil and gas markets. Chen Choon How in Kuala Lumpur, Malaysia, and Ajay Sethi in Abu Dhabi were recruited after a £1.3million investment from Scottish Equity Partners and the Scottish Investment Bank 18 months ago.
