Prospects looking good for Wave Treader
ENGINEERING design and analysis firm Prospect Flow Solutions (PFS), of Aberdeen, has come up with a novel way of combining wind and wave energy.
ENGINEERING design and analysis firm Prospect Flow Solutions (PFS), of Aberdeen, has come up with a novel way of combining wind and wave energy.
OILEXCO, the Canadian oil and gas company whose assets are held principally through its UK North Sea-focused subsidiary Oilexco North Sea (ONS), has said it has received demand letters from the Royal Bank of Scotland, on behalf of itself and other lenders, for immediate repayment of loans.
BG Group yesterday reported record earnings for 2008, up 72% on the year before.
OIL and gas engineering and construction company Aker Solutions has announced the appointment of Aberdeen-based Alan Brunnen as managing director of its UK subsea business.
OIL service company Petrotechnics has been voted one of the best companies to work for in Texas only a year after opening an office in the US state.
MANY parties are interested in acquiring the whole of Oilexco North Sea (ONS) and its assets, according to administrators at Ernst and Young (E&Y).
The offshore sector was given fresh hope last night that a package of tax incentives designed to maintain vital investment will be introduced, despite the collapse in the price of oil.
Oil and gas engineering and construction contractor Subsea 7 said yesterday the market outlook was uncertain for the medium term as a result of the economic climate.
OIL giant BP said yesterday it had no plans for fresh job cuts at its North Sea HQ in Aberdeen.
MARATHON Oil has announced a £4billion capital, investment and exploration budget for 2009, a 24% decrease from last year's.
Three-quarters of North Sea operators expect a reduction in activity this year, an oil and gas industry survey has revealed.
A bigger-than-expected hit from steeply falling oil prices at the end of last year has weighed on BP despite annual profits soaring 39% to a record £18.1billion.
SCOTTISH Bioenergy Ventures (SBV) has successfully completed the first phase of a trial at Scotland's oldest working whisky distillery in which algae converts carbon dioxide into biofuels.
NAUTRONIX, an Aberdeen company providing marine technology services, said yesterday it had completed a North Sea project with Subsea 7.
Oil giant Shell is not planning any further job cuts among its Aberdeen workforce, the company said yesterday.
All offers are now in from companies interested in taking over the operations of oil and gas firm Oilexco North Sea (ONS), which went into administration last month.
FUGRO-ROVTECH Ltd, created as a result of recent growth in the subsea sector, continues to benefit from Fugro's global strength and long-term approach to investment.
WIND and solar, accompanied by hydro power, biomass and geothermal energy, will pave the way to a 100% renewable power generation, "very probably within the first half of this century", according to Germany's Energy Watch Group. The organisation sees wind and solar as being particularly important vehicles to achieving this - and especially wind.
The UK's Energy Technologies Institute (ETI) has decided to award its first tranche of funding to four maritime energy projects - three offshore wind and one tidal technology.
A Scottish company has developed an installation system that offers the potential to revolutionise the installation of wind turbines offshore. Two variants of the technology have been drawn up - one to handle steel monopile foundations, the other for the concrete gravity base equivalent.
In the current economic climate, the risk of companies becoming insolvent is rising rapidly. The move of Oilexco into administration has sent shock waves through an industry that has rarely seen insolvencies among operators.
RECESSION - it's official now. It seems we had better get used to using the "R" word as the crisis which originated such a short time ago in the financial sector quickly impacts on the whole economy.
Oil&gas companies are operating in a changed landscape, with a number of them no longer able to escape the effects of the global economic downturn and unprecedented market volatility.
This is the first in a series of short articles about the OSO or, to give it its full title, the Offshore Supplies Office. It was an organisation that, at one time, had a fearsome reputation as it strove to ensure that British industry secured a fair share of the huge opportunities generated by the advent of North Sea oil.
THE lifeblood of a company like Chevron is, of course, the resource it exploits and, in this case, this US super-major has a pipeline of billion-dollar-class project investments worldwide, especially offshore West Africa, in the US Gulf and Asia-Pacific.