Oil prices will not fall much lower and will rebound to $80 a barrel by 2011 as a recovery in the world economy begins by the end of next year, according to Deutsche Bank's chief energy economist.
TULLOW Oil saw its London-listed shares jump more than 20% to 596.5p yesterday after it reported successful drilling results from the Hyedua-2 appraisal well on the Jubilee field offshore Ghana and the Kingfisher-3 appraisal well in Uganda.
A long-overdue rationalisation among the smaller oil and gas firms in the North Sea is on the way, according to an industry expert.
BOWLEVEN, the Scottish oil and gas company which focuses on Africa, said yesterday it had numerous attractive investment oppor-tunities in its portfolio.
A SPECIALIST in corrosion, integrity and inspection has launched an online centre of excellence for the oil and gas industry.
OIL and gas company Nexen, whose principal production area is in the UK North Sea through its operated Buzzard field, said yesterday it expected to increase worldwide output in 2009 by about 10% year-on-year.
ABERDEEN-BASED presenters and magicians Fifth Dimension have landed a contract worth a five-figure sum with a major oil company.
ABERDEEN-BASED software, training and consultancy specialist Monitor said yesterday it had completed a £500,000 project for Wood Group Engineering (North Sea).
READ Well Services has appointed Fraser Louden as its managing director.
Energy Minister Mike O'Brien announced yesterday that the UK Government would spend more than £5million over three years on studies on the future of the North Sea oil and gas industry.
Tesco Corporation crossed the Atlantic to Aberdeen in 2006 after recognising the European market potential for its drilling technology.
Shares in Aberdeen group Ramco Energy soared by more than 40% at one stage yesterday after it confirmed that plans for a joint venture in Iraq had just one hurdle left to jump.
VENTURE Production, of Aberdeen, said yesterday that it had brought the Stamford gas field into production.
FAROE Petroleum, the Aberdeen-based oil and gas operator, is among five companies awarded exploration licences in the Faroese third licensing round.
Canadian oil exploration firm Oilexco could be sold, it emerged yesterday.
Fears are growing over the outlook for the environmental technology sector in the face of the global economic slowdown, rising unemployment, and big falls in commodity prices.
Oil prices are likely to keep falling until well into next year and could drop as low as $25 a barrel before recovering, according to a research report from US investment bank Merrill Lynch.
NORTH-EAST and Highlands and Islands firms and projects have dominated this year's Green Energy Awards, which are organised by the green energy trade body Scottish Renewables, with winners announced last night in Edinburgh.
Oil workers have flooded a website with tributes to a "gentle" north-east man who was kidnapped by armed militants in Nigeria.
A North Sea installation has been named as one of the healthiest places to eat in Scotland.
A Highland hotel and an international oil service company were among the winners at the 2008 Vision in Business for the Environment of Scotland (Vibes) Awards, in Edinburgh last night.
TWO UK North Sea oil and gas operators have linked up with US energy service giant Schlumberger to secure a well-stimulation and fracturing vessel to help them with new projects.
GLOBAL onshore and offshore catering and hotel service company Trinity International has secured two major new deals with long-standing clients Stena Drilling and Bluewater in the North Sea.
BP and fellow British oil and gas operator BG Group have agreed a major swap of UK North Sea assets, with both companies saying the deal enhances their efficiency in core areas.
THE government faced an accusation last night that Scotland's renewable energy policy was "in shreds".