Second simulator for Altens training site
PETROFAC Training launched its fourth UK major-emergency management (MEM) simulator at a ceremony at its Altens training centre in Aberdeen last night.
Oil & Gas
Aggreko adds Indian assets with £3.9m acquisition
Aggreko, the Scottish temporary-power specialist, has unveiled plans to expand its global operations by buying a business in India for £3.9million.
Oilexco slides on debt U-turn
SHARES in Canadian oil explorer Oilexco - which is listed in both Toronto and London - plunged yesterday after it announced plans to raise up to £100million in debt and sell shares to raise more cash, but later said it had abandoned the proposals.
Crude oil falls to lowest price for more than three years
Crude oil fell below $50 a barrel to its lowest level since March 2005 yesterday amid fears of a global downturn on demand.
Invergordon service base plays host to its 600th rig
INVERGORDON is celebrating the arrival of the 600th oil rig to visit its service base since 1973.
New boss at Sovereign
SOVEREIGN Oilfield Group, the Aberdeen-based diversified oilfield service business, has announced the appointment of Robert Ellis as a director and his election as chairman by the board.
Dana lowers its output expectation
DANA Petroleum, the Aberdeen oil and gas operator said yesterday its production in 2008 was expected to average about 39,000 to 40,000 barrels of oil equivalent per day (boepd), representing 30% growth over 2007.
Trade group highlights workers’ fiscal concerns
THE body which champions Britain's subsea industry has met with HM Revenue and Customs to present the industry's concerns over proposed changes to seafarers' tax.
TAQA boss has lofty aspirations
As a youngster in his home country of Holland, Leo Koot was fascinated with the sea and the adventures that might be awaiting him abroad.
Rockhopper ups estimates for Falklands oil reserves
ROCKHOPPER Exploration, the South Atlantic oil and gas explorer, said yesterday it had increased its estimates of recoverable reserves in two licences in the North Falklands Basin from 1.2billion to 1.8billion barrels of oil.
Well-intervention innovation rewarded
STATOILHYDRO received the innovation award yesterday at the 14th European Well Intervention Round Table.
SCDI calls on Chevron chief’s energy expertise
THE Scots-born vice-chairman of US oil and gas group Chevron, Peter Robertson, will be keynote speaker at the Scottish Council for Development and Industry's annual lecture in January.
Job cuts in pipeline at PSL – claim
North-east firm PSL Energy Services is believed to be planning to axe at least 50 posts, it emerged yesterday.
Oil find sends EnCore shares rocketing 23.5%
Encore Oil has announced an oil find at the Bowstring East prospect in the UK northern North Sea.
Fortunes of oil and gas juniors nosedive as confidence wanes
A crisis in confidence has led to a nosedive in the fortunes of oil and gas firms on the Alternative Investment Market, according to Ernst and Young.
Craig Group’s performance rounds off celebrations
Global shipping and energy services company Craig Group, of Aberdeen, is rounding off its 75th anniversary celebrations in bullish mood following a strong set of annual results
Faroe gains new licences in North Sea
Results from the UK's 25th offshore licensing round emerged yesterday, with announcements by a number of the successful companies.
Aberdeen firm’s owners cash in by £10m from takeover
The owners of Aberdeen firm Containental Offshore have benefited to the tune of more than £10million after the acquisition of the business by investors led by London-based private equity firms Lansdowne Capital and Claver Capital.
Second largest energy supplier in bid to slash bills next year
The UK's second biggest energy supplier said yesterday it hoped to cut household energy bills early next year.
North Sea licensing stampede lifts gloom
A record offshore licensing round last night lifted the gloom cast by yesterday's news of soaring unemployment and fears of an even deeper recession.
Energy firms urged to stay calm
Oil and gas companies were urged yesterday to avoid any kneejerk reaction to big movements in the oil price.
Shutdown to prove costly for Venture
VENTURE Production said yesterday that before last week's shutdown of its operated Kittiwake platform it had expected this year's average production to be around 45,000 barrels of oil equivalent per day (boepd).
Schlumberger hails new expansion
ENERGY service giant Schlumberger yesterday hailed the opening of a £470,000 extension to an operations support centre in Aberdeen, saying it was the result of business growth in the north-east.
Shell geologist shines at industry awards
THE winners of the Oil & Gas UK Awards 2008 were announced at a ceremony last night.
Energy sector ‘will continue to invest’ despite turmoil
The North Sea oil and gas business is not on the edge of any investment precipice due to current worldwide financial turmoil, an industry leader stressed yesterday.