Brent trims biggest monthly gain since August
Brent crude declined, trimming its biggest monthly gain since August amid speculation that continuing violence in Iraq will disrupt supply from OPEC’s second-largest oil producer.
Markets
Premier sells UK North Sea assets to MOL
North Sea operator Premier Oil has sold three of its non-operated assets to Hungarian oil firm MOL Group in a $130million deal.
Simmons’ Aberdeen team at the heart of record M&A deal
Aberdeen corporate finance advisers have brokered what is believed to be the largest Middle East oilfield service mergers and acquisitions deal in history.
MSIS closes 2013 on booming figures
Industrial cleaning business MSIS had the best year in its history last year as its operating profits nearly doubled.
Crude prices head for biggest decline since March
Brent headed for the first weekly decline since violence erupted this month in northern Iraq as the crisis has so far spared oil output from Organization of the Petroleum Exporting Countries (OPEC)'s second-largest producer.
Oil nears lowest price in a week as Iraq hints increased exports
Brent crude traded close to its lowest closing level in a week after Iraq said oil exports from the south of country would still increase amid the northern insurgency.
KCA and ASCO earn their way up the UK sales index
Two Aberdeen-based companies have climbed up the charts for best performing UK firms following profitable 2013.
Wood Group set for positive year-end despite mixed performance reports
Global energy services giant Wood Group has recorded disappointing six-monthly results in its turbine activities division - offset by better than expected performance in engineering and production.
Kozel to step down from Gulf Keystone role
The chief executive of Gulf Keystone Petroleum is to step down following the collapse in the company's share price and mounting pressure from the firm's shareholders.
Petrobras plans to sell assets to cover $6.7billion costs
Petrobras is considering selling assets to help buffer the state-run oil producer from an estimated $6.7billion in additional payments to the Brazilian government over the next five years.
IGas targets Pennines exploration as losses narrow
UK onshore explorer IGas is focusing its next exploration steps on the North West following a positive close to the previous financial year.
France sells $2billion GDF stake is pursuit of Alstom
France sold a 1.5billion euro ($2billion) stake in GDF Suez, the country’s largest natural-gas distributor, as it seeks cash to buy a holding in Alstom.
EV Offshore in £69million management buyout
An Aberdeen firm that pioneered video technology used in oil and gas and Formula One racing has been taken over in a £69million management buyout.
NATO commander returns to Albania in search of oil
Fifteen years after Wesley Clark led NATO’s bombing campaign against Serbia, the retired US general is back in the Balkans looking for oil.
Petrofac hopes for good year-end despite profit warnings
Oil and gas services provider Petrofac is expecting a stronger financial performance in the second half of the year after lowering it income forecast for 2014 last month.
SNC Lavalin in £1.2billion bid to buy Kentz
Canadian construction and engineering giant SNC Lavalin has launched a £1.2billion bid for oil and gas services firm Kentz.
Pressure mounts on Gulf Keystone boss to resign
The chief executive of independent oil and gas firm Gulf Keystone is in talks with the company's directors over his resignation.
Circle Oil reports positive 2013 figures
Irish explorer Circle Oil enjoyed a prosperous 2013, according to the company's preliminary financial report for the year.
Oil firms set to spend £400billion+ in 2014
Oil and gas companies will increase exploration and production (E&P) spending by 6% to £420billion this year, according to banking giant Barclays.
Infinis unveils maiden loss of £11.8million
Renewable energy firm Infinis unveiled a full-year loss on its maiden results announcement after floating on the London Stock Exchange in November.
Norges Bank signals cuts as oil boom fades
Norway’s central bank kept its main interest rate unchanged and said it may ease policy again as Scandinavia’s richest nation grapples with slowing petroleum investments.
Cortez secures shallow water pipelay patent
Energy services firm Cortez Subsea has secured a UK patent for its modular pipelay system, making the shallow water technology available to the North Sea for the first time.
Kurd oil supply set for growth as region grabs more territory
Iraq’s Kurdish region may be able to gain more autonomy and increase crude exports after taking control of territory around the nation’s fourth-largest oil field, analysts from Saxo Bank and JBC Energy said.
Sabine loan backing Forest Oil deal still in place
Bank commitments to fund Sabine Oil & Gas LLC’s proposed acquisition of Forest Oil Corp. remains in place after the sale of an $850million loan to investors was postponed yesterday, Sabine said in a statement. “The proposed combination of our companies is moving ahead,” Sabine chief executive officer David Sambrooks said in the statement distributed by PR Newswire. “All parties remain fully committed to this transaction and will continue to take the necessary steps to ensure it is consummated to the benefit of all shareholders.”
Premier sells off Luno II field prospect
North Sea operator Premier Oil has sold all of its 30% interest in the PL359 licence to Lundin Norway for $17.5million.