Profit downgrade at Baker Hughes
Oilfield service giant Baker Hughes said today operating profits for the first quarter of 2012 were likely to be worse than expected.
Markets
“A huge boost for investment in the North Sea” – Osborne
Chancellor George Osborne has announced a widely anticipated plan to end uncertainty over decommissioning costs for North Sea oil and gas producers and a £3billion allowance to open up the west of Shetland.
Budget jobs boost for Nigg
Chancellor George Osborne has confirmed a multimillion-pound plan to create hundreds of jobs in the north.
“What a difference a year makes”
A year ago the industry was reeling in shock at a surprise £10billion tax grab on oil and gas producers.
2012 Budget a “turning point” says O&GUK
Oil & Gas UK today said measures in the 2012 Budget would result in "tens of billions of pounds of additional investment" in the UK North Sea.
Decommissioning certainty will boost jobs and investment
Decommissioning industry body Decom North Sea has welcomed Chancellor George Osborne's 2012 Budget saying it would bring new jobs and investment.
BP welcomes Chancellor’s measures
Oil giant BP has welcomed measures announced by Chancellor George Osborne today aimed at boosting North Sea investment.
Budget detail for oil and gas industry
Chancellor George Osborne's "major package" of tax changes aimed at boosting North Sea investment will include an extension to small field allowances and legislation to promote brownfield projects.
What is in it for renewables?
As part of a stimulus package for investment in energy, Chancellor George Osborne said today the new Green Investment Bank would make its first set of green investments in April 2012.
2012 Budget – will it deliver?
Today, Chancellor George Osborne will set out the UK Government's 2012 Budget, an announcement keenly awaited by the UK's oil and gas industry.
Miners drag the Footsie down more than 1%
Heavily-weighted mining stocks dragged the FTSE 100 Index down by more than 1% today amid fears over slowing growth in Asian powerhouse China.
Parkmead shares rise, but Melrose Resources among fallers
London's leading shares index struggled to find direction today as downbeat housing data in both China and the US saw the recent optimistic mood stutter.
Nautical predicts first oil at Catcher in 2015
Oil and gas explorer Nautical Petroleum has said it expects production at the North Sea Catcher field to start in 2015.
Budget bid to ‘help heal rift’
THE UK Government is working to win back the trust of the North Sea offshore industry and, in the process, pave the way for tens of billions of pounds of new investment.
Chancellor hints at boost for oil sector
Chancellor George Osborne has dropped his clearest hint yet that the oil and gas industry will receive a boost in this month's Budget.
Budget must bolster the oil and gas industry this time
Coalition ministers have been urged to back the offshore sector in next month's Budget - and boost the north-east economy as well as the Treasury's tax take.
Stimulus package to boost offshore industry
The UK Government is working to win back the trust of the North Sea offshore industry and, in the process, pave the way for tens of billions of pounds of new investment.
Strong pickup in North Sea
Subsea 7 said yesterday it expected activity in the North Sea to continue to rise in the coming years after a successful 2011.
US indicators give Footsie a Friday boost
London's leading shares index ended the week on a high today as fresh evidence of growth in the US boosted traders' confidence.
Cairn, BP and Parkmead among fallers on bad day for energy stocks
A drop in oil prices triggered by a joint US and UK move to release strategic reserves pulled energy stocks and the wider FTSE 100 Index into the red today.
Barryroe commercially viable, says Providence
Oil explorer Providence Resources said today it expected the Barryroe well off the Irish coast would be commercially viable.
Taqa Bratani gearing up for drill campaign
North Sea oil and gas firm Taqa Bratani is gearing up to drill another five to 10 exploration wells, its managing director said yesterday.
Parkmead and BG shares among risers but EnQuest and Faroe fall
London's leading shares index lost its momentum today as a stronger dollar hit the heavily-weighted resources sector and dragged the market into the red.
Weir Group admits defeat to Danes in Australian bidding war
Scottish engineering company Weir Group said yesterday it would withdraw from a bidding war for an Australian mining-equipment firm.
Shares rise at Wood and Hunting but Parkmead and Xcite fall
The FTSE 100 Index moved closer to the 6000 mark today after further evidence of a US recovery triggered gains of more than 1%.