Cairn completes £116m equity fundraising move
CAIRN Energy, the Scottish oil and gas operator, said yesterday it had completed a placing of more than 6.5million new shares with institutional investors.
Oil & Gas
North Sea firms plead for help to beat crisis
Oil and gas companies last night urged the UK Government to deliver them a Budget boost of tax reliefs - as they revealed the collapse of bank lending to smaller firms is threatening developments in the North Sea.
Weir hails 2008 as its best year yet
SCOTTISH engineer Weir Group said yesterday that 2008 had proved to be the best operating year in its history.
New Apex facility defies market conditions to create 12 jobs
APEX Tubulars Inspection Services, the Aberdeen-based provider of casing and drillpipe inspection and repair services to the oil and gas industry, has defied market conditions and responded to client demand by investing £1million in a new machine shop, creating 12 jobs.
Industry’s highest achievers set for final showdown
THE finalists for this year's Scottish Offshore Achievement Awards - known as the Oil Oscars - have been announced.
Training event focuses on energy industry
A TRAINING event focusing on the energy industry will be held in Aberdeen next month.
RMT continues holiday fight for offshore staff
A North Sea union leader pledged last night that the fight to win paid holidays for thousands of offshore workers will go on, despite a setback at an employment appeal tribunal.
Tullow Oil boosted by new funds and significant find
Tullow Oil said yesterday it had secured £1.43billion in reserve-backed loans to replace existing debt and to fund future capital commitments, including development of its world-class Jubilee discovery offshore Ghana.
Petrofac unfazed by global downturn
OIL service group Petrofac said yesterday that, despite the severe downturn in the global economic outlook, it could report excellent growth in 2008 and was well positioned for further strong growth in 2009 and beyond.
Emissions rules could have impact on offshore industry
THE UK Government was urged last night to head off the threat posed by a Brussels bid for tougher restrictions on greenhouse gas emissions that could hit the offshore oil and gas industry hard.
Energy and venture-capital firms team up
An emerging player in the venture-capital market, Edinburgh-based Par Equity, has teamed up with Aberdeen-headquartered Senergy Alternative Energy.
Design consultancy staffs up as expansion continues
ABERDEEN design and draughting specialist Cadherent has tripled staffing levels and increased the size of its offices by 50% as it promises to push ahead with further expansion plans in 2009.
North-east boss pumped up after lifting prestigious trophy
The 32nd Grampian Industrialist of the Year was last night named as George Yule, chief executive of Aberdeen-based international oilfield service firm Dominion Gas.
Bid deadline for ONS asset disposal passes
The deadline for final bids for crashed oil and gas operator Oilexco North Sea (ONS) passed yesterday, with restructuring experts giving nothing away about the progress of the selloff.
Prospect announces plans to double workforce
PROSPECT, an Aberdeen-based subsidiary of subsea service firm Hallin Marine, said yesterday it was poised to grow its workforce from 50 to about 100 employees within two years.
Talisman reports 69% surge in income in ‘year of change’
Talisman Energy, the Canadian oil and gas operator which has significant interests in the UK North Sea and Norway, said yesterday that 2008 was a year of change for the company.
Senergy on course for further growth
Senergy, the diversified energy industry service provider, said yesterday it was aiming to build on growth to date which had resulted in annual turnover rising to £70million.
MPs step up pressure for North Sea incentives
PLANS are being made to step up pressure on the government to act to maintain offshore development despite the recession, following a meeting in Westminster last night.
Wood seeking bolt-on buys to boost group in ‘challenging year’
International energy service company Wood Group revealed yesterday that pre-tax profits for last year surged by 48% to £274.3million.
Valiant buying out Dana’s stakes in North Sea prospects
Valiant Petroleum is to take full control of two northern North Sea finds.
AMEC boss takes over key role at OCA
A LEADING figure in the global energy business has been appointed as the new chairman of the Offshore Contractors' Association.
Hope for failed oil firm’s unsecured creditors
UNSECURED creditors of Tuscan Energy (Cragganmore) are likely to get at least some of their money back, joint administrators for the firm have revealed.
Oil industry pledges to protect workers
SAFETY and training will not be compromised, however severely the recession hits the North Sea oil and gas sector.
Yearly sales growth of 10% in Scots energy supply chain
AN ANNUAL survey of Scotland's oil and gas supply chain has revealed 10% growth in yearly sales to a record £14.2billion - but also highlighted uncertain times for the sector ahead.
Expro chief unfazed by news of investment value writedown
The chief executive of international oilfield service group Expro said yesterday it continued to perform extremely well, despite one of its owners writing down the value of its investment in the company.