It’s against the spirit of Wood Report for industry to foot the bill, according to Salmond
Alex Salmond has told oil and gas leaders that the Scottish Government will part-fund a new offshore regulator in an independent Scotland.
Shell appoints search firm to find new chairman
Shell is hunting for a new chairman amid growing speculation that current chief Jorma Ollila will step down next year.
UK firms set to ignore fresh threats over plans to drill for oil in the Falklands
UK firms look set to ignore fresh threats of legal action from Argentina a proceed with plans to drill for oil in the Falklands. Premier Oil has announced plans for a fresh wave of activity on the contested islands.
Petrofac follows suit and cuts contractor rates
Petrofac has become the latest oil and gas firm to cut contractor pay – and has warned all workers who don’t accept the deal that their contracts will be ripped-up. The services giant follows Wood Group and Amec in reducing the amount it pays freelance workers by 10% in an effort to cut spiralling costs. The changed will take effect on June 28, and contractors who do not accept the pay cut will have their contract terminated on June 27. “We can confirm that we have written to our Aberdeen-based, onshore limited company contractors to advise them that we intend to apply a rate reduction effective end of this month, a spokesman said. “In line with our normal policies, processes and procedures we regularly review the relative competitiveness of our remuneration, compensation and benefits packages and supplier cost base.”
Oystein Loseth set to join Statoil board
The controversial chief executive of Vattenfall is set to land a place on the board of Statoil. Oystein Loseth announced last year leaving his post with the green energy giant in March 2015 for “personal reasons”. But last night it emerged that he has been nominated for a seat around the top table at Statoil, the firm behind the Mariner project in the North Sea. If he is accepted, he will leave Vattenfall this October – six months early – to join the oil firm. Mr Loseth was at the centre of speculation that he had taken bribes for a deal in 2009, but an independent investigation cleared him of any wrongdoing. It was alleged that he had taken “extra remuneration” when Vattenfall acquired Dutch company Nuon. One of Sweden’s best-known lawyers – Christer Danielsson – was brought in to lead the probe.
Islands windfarms to get ‘special treatment’
UK Government proposals to award special status to onshore wind projects on Scottish islands could remove a significant barrier to investment in new projects and pave the way for development there, according to renewable energy experts.
Oil and gas companies lining up to buy AECC land
Oil and gas companies are lining up to buy the Aberdeen Exhibition and Conference Centre land.
Sir David Murray moves into oil and gas
Former Rangers FC chairman Sir David Murray is moving into the oil and gas industry after his family investment firm snapped up a supply chain business. Murray Metals – which is owned by Murray Capital, the private investment company of Sir David and his family – has competed the acquisition of Alphastrut. Last night the firm said Alphastrut - with its lightweight alluminium – is set to revolutionise module construction in the oil and gas sector with a new support system. It is already being used internationally to replace traditional steel support systems, and in everything from load-bearing raised-access floors to ceiling grids and bulkhead supports. It was used in the building of BP’s Valhall oil rig living quarters, helping to save over 126 tonnes of weight. Alphastrut was also incorporated in the raised-access flooring and cable-management support systems for Clair Ridge, west of Shetland.
Statoil aims for offshore windfarm that requires no subsidy
Oil giant Statoil will use its Peterhead offshore windfarm plans to search for a green energy first – turbines that can survive without government subsidies.
Workers taken off Ninian Central amid oil leak fears
Workers are being taken off the Ninian Central platform amid fears that an oil well could start leaking.
Oil and Gas UK: ‘North Sea optimism is falling’
Optimism in the North Sea is continuing to decline, according to industry body Oil and Gas UK.
Independence vote ‘stalling investment’
Doubts over the outcome of the independence referendum are stalling investment in the north-east of Scotland by English firms keen to develop their oil and gas portfolios, according to a leading lawyer. Richard Cockburn, a partner in the energy and natural resources team at legal firm Bond Dickinson, is involved in helping companies from both areas expand and, where appropriate, work together. The firm has offices in Aberdeen, Newcastle and Teesside. He said more and more supply chain companies from the north-east of England are keen to become involved in the opportunities which the current buoyancy, combined with a skills shortage, has created. However, they are increasingly concerned about what will happen after September 18.
Maersk Oil reveals first glimpse of Culzean project
Maersk Oil UK has released the first images of what its Culzean project – one of the largest North Sea gas discoveries of recent years – will look like.
UK oil workers warned over kidnap threat in Iraq
The Foreign Office has warned that UK oil workers are facing an increased threat of kidnapping in Iraq. Officials have warned workers to be on alert in the southern province of Basra – home to Iraq’s oil and its gateway for exports. The US embassy has also issued a warning to its citizens. “Militant groups may be surveilling US citizens for possible kidnapping operations, particularly oil company employees working in Basra province,” the embassy said in a statement. “The groups may be focused on US citizens at hotels in the Basra area.” Exxon Mobil and Occidental Petroleum operate oilfields in Basra, while other American firms, Weatherford and Hallibuton, provide technical and logistic services.
UK oil bosses plead for predictable North Sea tax regime
The UK’s top oil bosses have pleaded with UK Government ministers for a simple and predictable tax regime for the North Sea.
Xcite Energy becomes Wood Review first
Xcite Energy has become one of the first firms to get into the spirit of the Wood Review by pushing for the development of the area around its Bentley Field. Sir Ian Wood wants a new regulator to be given additional powers to ensure that all licence holders act in a way that is consistent with maximising UK recovery. That includes increased collaboration between companies, particularly around access to infrastructure, and improved data sharing.
Tony Hayward faces angry questions at Glencore AGM
Tony Hayward faced a mini shareholder revolt and a barrage of questions about company ethics at Glencore Xstrata’s AGM yesterday.
Bibby Offshore looks south due to Aberdeen skills gap
Bibby Offshore has become the latest oil and gas firm to look elsewhere for talent due to the growing skills gap in Aberdeen. The subsea installation contractor has opened in Newcastle to find qualified staff – and said last night that the move has already been a huge success. The announcement comes just days after Oil States announced that it was moving half of its production out of the north-east due to spiralling costs and a lack of new talent.
UK Government launches review of the North Sea oil and gas tax regime
The UK Government will officially launch its review of the North Sea oil and gas tax regime today. Financial Secretary to the Treasury Nicky Morgan is to jet into Aberdeen for talks with oil and gas leaders this morning.
New lifejacket offers a “step change in safety”
A new offshore lifejacket which doubles up as a small liferaft has been unveiled in America.
BP says Ireland’s oil carries real risk
Ireland’s oil potential may “hold some intrigue” but exploration carries “real risk”, according to a BP executive.
Interest in EOWDC cooling down as threat of Trump legal battle looms
Investor interest in the controversial Aberdeen Bay windfarm appears to be cooling as the threat of a prolonged legal battle with Donald Trump looms large on the horizon. It can be revealed that six firms are looking to buy into the 11-turbine European Offshore Wind Deployment Centre (EOWDC), which has the backing of the Scottish Government. Last night, however, one north-east MSP said he did not believe the scheme would ever go ahead. The Trump Organisation is fighting to block the £230million development – which has been beset by problems – through the courts.
Bareboat tax could cost North Sea industry £1billion
George Osborne’s latest tax raid on the North Sea will add 10% to drilling costs, according to government papers seen by the Press and Journal and Energy Voice.
Council leader learns of looming departure at OTC
The plot to oust Barney Crockett as council leader was hatched while he was thousands of miles away representing Aberdeen in Houston, the Press and Journal can reveal.
Another rig fire hits North Sea
Another North Sea firm has been sanctioned by safety chiefs following a fire on board one of its offshore facilities.