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.
Markets
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.
OEG Offshore reveals wins worth £1.3m
OFFSHORE container and module manufacturer OEG Offshore said yesterday it had been awarded contracts worth £1.3million with Schlumberger, Schilling Robotic, Sub Atlantic and Halliburton.
AMEC to post half-year results
BY STEVEN McKAY
Petrofac pouring £303m into Mexican assets
PETROFAC has announced a £300million-plus investment in Mexico after state oil monopoly Pemex awarded its first oilfield operating contracts.
Oil giant signs £900m loan
RUSSIAN oil producer TNK-BP said yesterday it signed a £900million-plus loan with a group of 10 international banks for general corporate purposes.
Rock Solid contract win in central Africa
ABERDEEN company Rock Solid Images (RSI), formerly Offshore Hydrocarbon Mapping has won a £242,000 contract for seismic work in Equatorial Guinea.
Subsea 7 to sell vessel to GSP
SUBSEA 7 is to sell pipelay vessel Acergy Falcon to Romanian oil and gas service company GSP.
Melrose cuts production estimates for second time
OIL and gas explorer Melrose Resources has reduced its full-year production estimate for a second time this year after setbacks in Egypt.
Sigma takes over firm from West Coast
SCOTTISH asset-management firm Sigma Capital Group said yesterday it had acquired urban-regeneration specialist Inpartnership from West Coast Capital (WCC) - the investment vehicle of entrepreneur Sir Tom Hunter - in an all-share deal worth £347,000.
Oil boosted by euro debt-crisis hopes
Oil rose yesterday, supported by hopes European leaders will come up with solutions to the region's debt crisis and by broader gains in global markets.
Hunting to buy another US business
UK ENERGY service group Hunting said yesterday it was to buy a US-based machining company for more than £50million just days after announcing a £475million acquisition.
Triple contract celebration for designers
A NORTH-EAST design and manufacturing company is celebrating a hat-trick of deals.
Aker results ‘dented by operational issues’
SHARES in oil field engineering service group Aker Solutions fell more than 5% in Oslo yesterday after second-quarter earnings were dented by operational issues.
Shell buys back £18m of shares
OIL supermajor Royal Dutch Shell said yesterday it had bought back more than £18million of its own shares.
‘More of the same’ as EnQuest production and revenue soar
ENQUEST said yesterday it would not be taking its foot off the ball after posting a 35% rise in production and doubling its revenue.
Nautical jumps on latest Kraken update
SHARES in North Sea energy firm Nautical Petroleum were up more than 15% yesterday after the company made an "excellent start" to appraisal activity at its Kraken field.
Mob mentality rules
EVENTS in global equity markets at the beginning of last month paralleled those on the streets of England's major cities.
Plexus enters well-head agreement with Senergy
ABERDEEN-based oil and gas engineering service firm Plexus Holdings has entered an agreement with Senergy to provide wellhead engineering to Dana Petroleum.
Subsea 7 reports ‘strong’ second quarter
WESTHILL-based Subsea 7 reported a "strong" second quarter yesterday and said its integration with former rival Acergy was on track.
TAQA profits surge to £219m
Investment of more than £250million in the UK North Sea helped to boost production, Abu Dhabi's national energy company said yesterdayas it announced a 150% jump in profits.