Cosalt shares plummet after warning
OIL and gas industry firm Cosalt saw its shares plummet 57% to just 0.7p yesterday after it said full-year trading would be significantly lower than expected.
Markets
Arab Spring disruption
The Arab Spring has disrupted investment plans in oil and gas projects as some governments in the region have shifted their focus to meet increasing demands from their population, the International Energy Agency (IEA) said today.
Plexus Holdings technology could save millions
An Aberdeen oil and gas engineering and services firm said yesterday it was working on technology which would save the industry hundreds of millions of pounds by allowing the use of wells that would otherwise be abandoned.
Butch gives Faroe a boost
Elaine Maslin
Xcite and Faroe close up – Cairn and Wood Group fall
INVESTORS lost confidence in the prospect of a speedy resolution to the eurozone debt crisis yesterday, causing Britain's leading share index to drop into the red.
Iraq move for Taqa
Abu Dhabi's national energy company Taqa is to buy nearly 20% of a Calgary-based firm focused on Iraq.
Business Growth Fund names regional director for Scotland
THE Business Growth Fund (BGF), established to help Britain's fast growing smaller and medium sized businesses, said Simon Munro was joining as regional director for Scotland.
Nautical excited about North Sea finds
OIL and gas explorer Nautical Petroleum said yesterday that 2012 would be transformational for the company as it moved to help develop three North Sea fields.
Crane deal for city company
ABERDEEN company EnerMech has landed a multimillion-pound crane maintenance contract from Maersk Oil North Sea UK.
New Falklands prospect similar to Sea Lion
Falklands explorer Argos Resources said today it had identified "considerable additional prospectivity" on its North Falkland Basin licence.
Ithaca to list on Toronto Stock Exchange
Ithaca Energy has received conditional approval to list its shares on the Toronto Stock Exchange.
Fairfield agrees sale of Staffa block to Iona
FAIRFIELD Energy, of Aberdeen, said yesterday it was selling the UK North Sea block containing the dormant Staffa field.
Asco US bid talk
US-BASED private-equity group AEA Investors, which counts former BP chief executive Tony Hayward among its advisers, was reported yesterday to be among bidders for international oil and gas logistics group Asco.
Rockhopper’s Desire to up Falklands stake
Falklands oil and gas explorer Rockhopper Exploration is to boost its holdings in the region by agreeing a farm-in with Desire Petroleum which could extend its Sea Lion discovery.
Brazilian project costs increase for Aker Solutions
Oilfield engineering service group Aker Solutions said yesterday issues at its Brazilian manufacturing plant and lack of oil industry resources in the country had contributed towards expected costs of £44.5million-£55.6million.
North east an incubator for new companies
GROWTH capital investor Lime Rock Partners believes the oil and gas sector in Europe has a secure future and it will continue to look for growth and technology investments.
Forties owner expects £550m of investment this year
APACHE North Sea has said it expects to invest more than £550million in 2011, after reporting rising turnover and profits.
EnCore prime catch for Premier
NORTH Sea explorer Premier Oil said yesterday it was buying smaller rival EnCore Oil in a £221million deal.
Bosses have strong exploration track record
THE sale of EnCore Oil would not be the first taste of North Sea success for the firm's founding directors.
Supermarket giant cuts fuel prices
A supermarket giant has decided to cut the price of fuel by up to 2p a litre.
Oil prices hit six-week low
Oil fell to six-week lows yesterday as fresh concerns about the eurozone added to the economic gloom that knocked nearly 7% off prices this week.
MP invites fuel boss to discuss prices
THE boss of a fuel firm has been invited to the Western Isles to discuss concerns about prices.
Demand for action as power bills continue to go up
Energy companies and consumer groups are being urged to take action to minimise the impact of power bill rises on customers.
Petrofac in Middle East joint venture
International oil and gas facilities service provider Petrofac has announced a joint venture based in the Middle East.
Smart Metering confident of growth
Scottish gas service firm Smart Metering Systems said yesterday it was confident of further growth after profits more than doubled.