World markets buoyed by European rescue plan
A new scheme to inject more dollars into the European financial system helped banking shares lead world markets higher today.
Markets
Trap Oil plans North Sea production before 2012
North Sea exploration firm Trap Oil said today that it hoped to start producing in the region by the end of this year.
Chancellor urged by MP to postpone 3p fuel duty increase in January
CHANCELLOR George Osborne was urged last night to follow the expected 5p-a-litre cut in fuel duty in the isles with a freeze in tax on petrol and diesel for everyone.
Cut-price fuel for the isles could be just weeks away
The European Commission has paved the way for the UK Government to launch a cut-price fuel scheme for the islands as early as November 1.
Chance to get involved in Iraq energy sector
A new initiative to help north-east energy companies explore business opportunities in Iraq has been announced by Aberdeen City Council.
Desire reviewing financing options to restart Falklands drilling
Shares in oil and gas explorer Desire Petroleum fell 11% to 19p today after it said it was continuing to look for finance to restart its drilling campaign.
Energy giant investors look to ‘reassuring’ future
ENERGY giant Centrica hosted a presentation to investors on its British Gas unit and the said the meeting was described as "reassuring".
Footsie shares ends the week deep in the red
London's leading index ended another volatile week deep in the red again as Britain's biggest banks wobbled ahead of a key report on sector reform.
Barclays Corporate funds £782million of energy deals
Barclays Corporate oil and gas team announced today it had provided funding for global energy deals amounting to £782million so far this year.
EnQuest drops production target for 2011
Elaine Maslin
Asco wins £1.1m Statoil pipeline deal
OIL and gas logistics firm Asco has won a £1.1million contract with Statoil for work related to its Gudrun development in the Norwegian North Sea.
Weir, Melrose and Aberdeen Asset Management gain FTSE 100
THE FTSE 100 index continued its rebound yesterday as positive job and manufacturing data from America caused a last-minute push into the black.
Cosalt geared-up for fresh start
Cosalt said yesterday it was ready for a fresh start after clearing most of its debts and recruiting a new senior management team.
Valiant to push ahead with Causeway development
VALIANT Petroleum said yesterday the next 18 months had the potential to create a "step change" for the business as it announced strong first-half results.
Plexus extends deal with Transocean subsidiary
ABERDEEN oil and gas engineering service firm Plexus Holdings has said it has agreed a £2million framework deal with a subsidiary of Transocean.
BP completes £4.4bn energy deal in India
BP has completed its £4.42billion acquisition of a 30% stake in 21 oil and gas production sharing contracts operated by Reliance Industries in India.
ExxonMobil in deal with Russia’s Rosneft
Russia's Rosneft and US oil major ExxonMobil today signed a strategic deal to jointly develop oil in the Russian Arctic.
Industry news
THE deepening of the eurozone crisis and fears for the US economy sent world stock markets into retreat in late July and this continued into early August with the FTSE 100 dropping almost 1,000 points to its lowest level for over a year.
Blackrock ups it’s Wood Group holdings
A global asset-management fund has upped its holdings in energy service firm Wood Group to 18.02%.
Costs of UK North Sea project soar again
TROUBLED Norwegian floating production specialist Sevan Marine said yesterday costs had increased again on a project for E.On Ruhrgas in the UK North Sea.
Production slump ‘not major setback’
ITHACA Energy said yesterday a slump in production which helped to halve sales was disappointing, but had not set the firm back.
Asco looking for new investment
INTERNATIONAL oil and gas logistics group Asco is looking for new investment so it can double the size of the business in five years.
Amec seeing resurgence of activity in North Sea sector
INTERNATIONAL engineering and project-management company Amec has seen a resurgence in activity in the North Sea.
Wood Group’s profits soar 49%
ENERGY service giant Wood Group is to continue looking at future acquisitions after posting a near-50% jump in profits in the first half.
Offshore oil arm a strong performer for James Fisher
MARINE service group James Fisher and Sons said yesterday its offshore oil business grew profits by 26% during the first half of 2011.