Vast petroleum reserves lie north of the Arctic Circle, according to the US Geological Survey - more than 400billion barrels oil equivalent of potentially recoverable oil, natural gas and liquids. And most of it seems to lie offshore.
Drilling is about to start on the Southern North Sea East Breagh prospect which, if successful, could clear the way for the largest UK Continental Shelf dry gas development for years.
Oil companies Total, Chevron and StatoilHydro all showed the benefit of soaring oil and gas prices as they reported significantly higher second-quarter profits yesterday.
TWO north-east men are looking to set up a community group to buy domestic heating fuel direct from suppliers to ease the impact of escalating energy prices.
The oil industry's profits bonanza continued yesterday after surging prices helped Royal Dutch Shell to a surplus of almost £8billion for six months' trading.
British Gas parent Centrica added fuel to the flames over record price rises yesterday after announcing a £144.6million dividend payout for its shareholders.
GLOBAL energy service company Wood Group, of Aberdeen, has announced a potentially lucrative Middle East joint venture.
A SCOTTISH commercial diving centre reported yesterday that it continued to work at full capacity to train students.
Scots are bracing themselves for tough times ahead as the UK's biggest domestic energy supplier last night announced a price increase of 35%.
Rocketing oil and gas prices helped BP to bumper profits yesterday as motorists continue to feel the pain at the petrol pumps.
IT SEEMS that one of Scotland's best-known bucket-based philosophers is backing the country's beleaguered fishing fleets.
Words inscribed on the boardroom table at the offices of Senergy in Aberdeen offer an insight into one of the passions of the energy service firm's boss.
Subsea 7 said yesterday it expected over time to recruit about additional 100 workers following a new contract win in Africa, with about one-third of them to be located at Westhill, near Aberdeen.
SCOMI Oiltools (Europe) revealed a £10million investment in its north-east business yesterday, including a drilling-fluid division, which will complement its waste-management and cuttings-processing business.
Northern Offshore UK strengthened its position in the thriving North Sea drilling market yesterday with the £375million acquisition of two rigs.
A COMPANY developing ocean-going buoys that convert wave energy into electricity will test its latest technology at Emec, the Orkney-based European Marine Energy Centre.
A DRIVE to extract oil from unconventional fossil fuel sources in the face of soaring prices could have catastrophic effects on the Earth's climate, a report warns today.
More than one in three people in the UK believe the UK Government is primarily responsible for high fuel prices, a new poll has shown.
A SCOTS MP has secured heavyweight backing for his call for better protection for rural families who are forced to rely on deliveries of oil or gas for heating.
A GROUP of north-east oil workers who were stranded on a rig in a remote area north of Russia were reunited with their loved ones last night after arriving back in Aberdeen.
A woman who was charged with sparking the largest security scare in the history of the North Sea will face no further action, the procurator fiscal's office confirmed yesterday.
INTERNATIONAL oil and gas facility service provider Petrofac has snapped up Eclipse Petroleum Technology, which has offices in Aberdeen, London, Stavanger, Houston and Dubai, in a deal potentially worth £16million.
AROUND 90billion barrels of oil and a third of the world's undiscovered natural gas lie beneath an area north of the Arctic Circle, according to a new survey.
WOOD Group Engineering (North Sea) has started work on a contract in Shetland which could be worth up to £60million and which has created 140 jobs.
Oil and gas operator BG Group revealed yesterday that pre-tax profits for the past quarter had nearly doubled to more than £1.3billion.