Union Jack secures funding to fuel shale research
Onshore explorer Union Jack Oil has raised £650,000 through a placing of shares to take its UK operations forward in 2014.
Markets
Petrofac eyes prosperous 2014 with record backlog
Petrofac has closed 2013 on an upward trend with $3billion worth of new contracts awarded year to date and an opening backlog.
AGR closes 2013 on a high after busy year
Norwegian oil services firm AGR nearly doubled its income within the 12 months ending December 2013, closing the financial year on 208million Norwegian Krones (£20.7million) EBIDA.
Oil & Gas UK Activity Survey 2014 – UKCS investment could fall to £7bn by 2016
Investment in the UK Continental Shelf could fall by more than 50% by 2016 unless the rate of maturing new developments increases, Oil & Gas UK has warned.
Norway’s oil fund becoming too big for Central Bank, report says
Norway may need to separate its sovereign wealth fund from the central bank as its ballooning size makes proper oversight more difficult, the annual Norges Bank Watch report recommended.
Enegi secures funding for Fyne
Independent explorer Enegi Oil has secured £2million in funding to move the Fyne field development to the next level.
Mediterranean’s output slashed nearly by half in 2013
Italy-focused exploration firm Mediterranean Oil and Gas has reported a 42% decrease in production and close to 50% cut in revenues in 2013 compared to the previous year.
BP starts up major upstream project in Gulf of Mexico
BP has started its third major upstream project of the year in the Gulf of Mexico.
Adriatic pulls out of Inner Moray Firth blocks
North Sea operator Adriatic Oil has pulled out of two production blocks in the Inner Moray Firth.
New Arctic oil production unlikely for at least 15 years, claims Lundin chief
New oil production from the Arctic is unlikely to happen for at least 15 years due to technical and logistical challenges, according to the chairman of Swedish exploration firm Lundin Petroleum.
IOG enters gas sales agreement with BP for Blythe field
Independent Oil & Gas has entered into a sales agreement with BP for gas from the upcoming Blythe field in the Southern North Sea.
Rosneft looking to scoop $2billion from TNK-BP plant sell-off
Russia’s largest oil producer Rosneft may get as much as $2billion (£1.2billion) for its 49% share in a natural-gas processing venture inherited with its TNK-BP purchase, according to analysts.
Shell sells Australian downstream assets for $2.6billion
Shell is set to sell off its downstream businesses in Australia for $2.6billion (£1.5billion).
Technip eyes strong growth for 2014 with £13.7bn order book
French energy services giant Technip yesterday predicted strong growth for the year ahead with a back log of orders worth a whopping £13.7billion.
Sinopec retail arm sell-off ‘could net £12billion’, say analysts
Shares in Chinese oil giant Sinopec have surged as the firm launched a bid for private investors in a sale of its retail unit which could net more than £12billion.
Warning sounded over upstream contracts slowdown as Wood Group profits rise 14%
Strong performance in the North Sea and engineering operations helped offshore services giants Wood Group post a 14% increase in profits for 2013.
Losses narrow at Songa as focus moves to Cat D rigs
Rig construction firm Songa Offshore said its troubled Category D development project remains on track, despite the firm posting new losses.
Ruia brothers eye £200m bid to snap up remaining Essar Energy stake
Billionaire borthers Shashi and Ravi Ruia are looking to buy the rest of Indian energy group in a £200million deal.
North Sea stability for Apache as it sells off Argentine operations
North Sea operator Apache has sold off its Argentine assets in a £480million deal as it looks to cut debts.
Major find off Congo boosts Eni despite profits downturn
Eni has been boosted after discovering a major new oil field off the Congo - despite seeing profits hit by ongoing problems elsewhere in Africa.
Petroceltic completes Isarene shares sell-off
Irish oil and gas exploration firm Petroceltic International has completed the sale of a share in its Algerian licence to Sonatrach.
North Sea keeps profits steady at Amec as firm confirms Foster Wheeler deal
Engineering giant Amec has confirmed it has made a £2billion takeover bid for Swill energy industry contractors Foster Wheeler.
£6m fine for firms over Nexen takeover probe
Two Hong Kong-based asset-management firms agreed to pay about $11million (£6.6million) to settle regulatory claims related to improper trades made before CNOOC's deal to buy North Sea operator Nexen.
OPEC output up as oil countries forecast higher demand in 2014
OPEC crude production gained for a second month in January as the group boosted its forecast for global oil-demand growth this year.
$1bn loss for Talisman as North Sea production fall takes its toll
North Sea oil producer Talisman posted an unexpected fourth-quarter loss after being hit by a downturn in oil and gas production from the region.