Flextech sets its sights on renewable-energy
Aberdeen energy service firm Flextech said today it had invested £500,000 in a new manufacturing and fabrication base in Grimsby.
Wave and tidal-energy investment worth £217million
Scotland’s renewable-energy sector has invested more than £217million in wave and tidal projects to date, new figures show.
Xodus losses widen after takeover
Aberdeen firm Xodus Group has reported slower-than expected progress in its overseas expansion in accounts showing a substantial widening of losses.
Oil States unveils recruitment plan for Scotland
Oil States (UK), the Aberdeen headquartered oil and gas service firm, is recruiting for 100 roles at its new Heartlands Business Park facility in West Lothian. The company, which announced the restructuring of its UK business earlier this year, is seeking experienced welders, machinists, inspectors, maintenance and laboratory technicians as well as yard operatives and materials co-ordinators.
Sir Ian says oil industry can now focus on progress
Sir Ian Wood, whose intervention in the independence debate caused such a stir after he questioned Scottish Government figures for future oil production, said the electorate had "chosen the best of both worlds".
Dutch service company sets-up new Aberdeen base
Chief operating officer Roddy James said: “N-Sea has evolved considerably in the short time since we established our presence within the UK.
Tide turbine firm signs 10-year deal
The Scottish company aiming to establish the world’s biggest tidal-power project in the Moray Firth has signed a multi-million pound contract to sell electricity generated by the scheme.
Ithaca says Greater Stella production target on track
North Sea explorer Ithaca Energy said yesterday a positive well test in the Greater Stella area significantly "de-risked" its production forecast for the development. The Aberdeen company expects Greater Stella to produce about 30,000 barrels of oil equivalent (boe) per day, including 16,000 for its 54.66% stake.
Falling oil prices not yet a risk for the North Sea
Falling oil prices should not spark a panic about investment and jobs in the North Sea, an industry expert said last night. Alex Kemp, professor of petroleum economics at Aberdeen University, said the commodity was still trading well above the level at which there would be any significant impact on energy companies’ spending plans.
Hayward says low oil prices may not last
Western sanctions against Russia and turmoil in the Middle East could reverse a decline in oil prices and send them rocketing to $150 a barrel, according to former BP boss Tony Hayward. Investment in production from untapped resources in the Arctic and shale reserves in Siberia are at risk, which could constrain global supplies and send prices soaring, he warned. His comments in a UK newspaper interview follow sanctions against Russia's Gazprom, Gazprom Neft, Lukoil, Surgutneftegas and Rosneft, banning western firms from supporting their activities in exploration or production from deepwater, Arctic offshore or shale projects.
No need to panic, energy expert says
Energy expert Alex Kemp highlighted "subdued global demand" as the main reason why oil prices are so low. The Aberdeen University petroleum economics professor said western Europe and the US needed less crude than expected. A weakening of economic growth in China and increased shale oil production in the US, meaning America is less reliant on imports of crude from overseas, is keeping oil supplies on top of demand and lowering prices, he added.
Expro announces new base in Brazil
International oilfield service company Expro, of Aberdeen, is to open a new base in Macae, Brazil.
Apache says it is spending more in the North Sea in 2014
US oil firm Apache insisted last night it was investing more money in the UK North Sea this year. A spokesman for the Houston company said spending in the area was likely to be up from last year’s total of nearly £540million.
Amec in Chinese nuclear tie-up
Amec's latest deal will see it work with China on nuclear power projects, both there and in the UK. The international engineering and project management firm said yesterday it had signed a memorandum of understanding with China National Nuclear Corporation (CNNC) to "co-operate across the civil nuclear sector".
IGas takeover of Dart Energy moves a step closer
Singapore's Dart Energy said yesterday its shareholders had approved the company's takeover by UK rival Igas. An all-share deal announced in May valued Dart at £117million.
Norwegian drilling technology firm sets up shop in Aberdeen
Norwegian offshore technology company Enhanced Drilling has opened new UK headquarters in Aberdeen in an attempt to win more business on this side of the North Sea.
Expro lands multimillion-pound Quad 204 deal
The latest contract for the giant Quad 204 development west of Shetland has gone to oilfield services firm Expro.
All change at the top at Eland Oil
North-east company Eland Oil and Gas has a new man at the helm, with George Maxwell taking over the chief executive’s role from Les Blair.
Analysts hint at merger of Shell and BP
Falling fortunes at BP and Shell could force the two oil and gas giants into a “mega-merger” within a couple of years, some City analysts believe.
190 Technip jobs under threat
Nearly 200 Aberdeenshire jobs are facing the axe under plans by French energy service giant Technip to shut down its offshore wind division.
New industry project aims to improve oil spill management
Four big oil firms have teamed up with the Norwegian Coastal Administration and oilfield technology company Aptomar to improve the way industry manages spills.
Centrica says users don’t trust their energy suppliers
Trust in energy companies is at an all-time low in Aberdeen.
Shell offloading more assets in £9billion global sell-off
Oil giant Shell is selling more assets as part of plans to offload £9billion worth of assets worldwide.
Divex enjoys “robust” first-half performance
A “robust” performance by north-east diving and subsea equipment specialist Divex helped James Fisher and Sons to a 13% rise in first-half profits, the marine service group said yesterday.
Petrofac hails record order book amid plunging profits
Energy service giant Petrofac shrugged off a 44% slump in profits today, highlighting a record year for new orders.