Equinor takes 9.8% stake in Ørsted
Norway’s Equinor (OSE:EQNR) has acquired a 9.8% stake in Danish renewables group Ørsted (XCSE: ORSTED)
Markets
THREE60 Energy sees revenue rise by a quarter in 2023
Aberdeen-headquartered THREE60 Energy saw its revenue increase by 24% to over £184 million in 2023, driven by strong performance across all service lines.
TotalEnergies says UK oil tax will hurt investment, operations
Planned oil and gas tax changes in the UK will prompt TotalEnergies (PAR: TTE) to reduce capital expenditure and restructure operations in the country, the company's chief executive officer Patrick Pouyanne said.
Hopes rise for North Sea windfall tax “successor”
Analyst Wood Mackenzie believes "where there’s a will, there’s a way" in achieving a consensus on an improved system of taxation despite differences of opinion between government, industry and North Sea investors.
Serica on track to meet full year targets thanks to oil production boost
Oil and gas firm Serica Energy (AIM: SQZ) has confirmed it will hit its full year targets for production as two North Sea wells deliver on their promise.
Lucky number seven: 3t to break $100m turnover with Middle East acquisition
UK-based safety training group 3t has made its seventh acquisition by purchasing the Middle East’s largest energy training business, GTSC.
Aberdeen’s MDL wins ultra-deep water SURF deal in Brazil
Flex-lay specialist Maritime Developments Ltd (MDL) has celebrated a new contract win as it attends the Rio Oil and Gas show, now called ROG.e.
Jersey Oil and Gas ‘hopes sense prevails’ in Westminster
Jersey chief executive Andrew Benitz said the firm's achievements have been marred by "fiscal and political turmoil" which has forced them to take measures including a 50% cut in staff and director salaries.
BP UK boss warns against North Sea ‘cliffhanger’ ahead of budget
60 years to the day since BP got its first licence to operate in the North Sea, Doris Reiter warns the 'basin will lose out' on jobs, investment and the energy transition unless government and industry get on the same page on taxes.
Aberdeen’s Zenith Energy wins ‘world-class’ well support deal with Predator in Morocco
Predator Oil and Gas (LON: PRD) has appointed Aberdeen-based well management specialist Zenith Energy for a project in Morocco.
BP sells $1 billion stake in pipeline to Apollo
UK energy major BP (LON: BP) had sold a share in a key Caspian pipeline to US investors Apollo (NYSE: APO) in a deal raising $1billion (£760m).
Oil and gas expansion wins planning consent on UK onshore Wressle field
Concerns have been raised the project may now face court challenges by "emboldened" environmental campaigners.
Ithaca reports “robust” half year but warns of “long-term damage”
Ithaca Energy (LON: ITH) has hailed "robust" cash flow but has warned about the "ongoing impact" of the UK government's oil and gas fiscal policies and the "long-term damage" they will cause.
Wood Group boss said lossmaking half year is a “story of transformation”
Ken Gilmartin said Wood is "made up of some of the most brilliant, fantastic, creative, dedicated people on the planet".
i3 Energy confirms £174.1million bid from Gran Tierra
Canada and North Sea-focused i3 Energy (AIM:i3E) has confirmed it has received a £174.1million bid from a Canadian rival.
KCA Deutag ‘expected to remain’ in Aberdeenshire after H&P buyout
Analysts welcome positives of the US buyout of the UK-based drill rig firm which brings a beneficial market share in the Middle East.
Rachel Reeves ‘difficult circle to square’ with energy finances
On the face of it, there is a paradox. Rachel Reeves has inherited a massive black hole in public spending. Large scale infrastructure projects are being cut, left, right and centre.
RWE backing for UKOG hydrogen boosts shares
RWE's "letter of support" for UKOG's hydrogen storage scheme will increase its chances for UK government funding.
Harland and Wolff saved by loan extension but CEO jumps ship
The deal with US lenders has staved off the firm's potential collapse.
Shell goes for gas as profits hit £4.9 billion
Shell (LON:SHEL) unveiled quarterly profits $6.3 billion (£4.9b) as it highlighted global investments in gas and LNG.
Aberdeen-based Centurion reveals ‘record’ year of buying non-oil and gas firms
The rentals specialist plans to keep buying more businesses around the globe in "critical industries" in "complex, challenging and remote locations".
Drax hands £300m to shareholders while waiting for subsidy
Drax is seeking to invest in bioenergy with carbon capture, use and storage (BECCS) technology at its main power-generation site but is looking to the UK government for a subsidy "bridge"
Equinor second quarter profits dip but beat analyst forecast
Equinor’s (OSE:EQNR) profits for the second quarter fell 4% year on year but managed to beat analysts’ forecasts, according to its latest results.
Management team leads multi-million pound buyout of Proserv
CEO Davis Larssen and CFO Mark Fraser have also introduced an employee ownership scheme, marking a significant milestone in the company's 60-year history.
Litigation in transition: Energy sector disputes and the role of legal finance
The transition from fossil fuels to renewable energy is fundamental to decarbonising the global economy and mitigating the impacts of climate change. However, this shift also brings a higher risk of disputes across various business activities – disputes that are likely to be many and varied given the magnitude of the infrastructure and technology involved.