Brothers set to share £100m following sale of oil service firm
Four brothers who founded a fast-growing oil service firm in the north-east less than seven years ago are to share nearly £100million following its sale yesterday.
Oil & Gas
Origin urges shareholders to resist BG offer
Australian company Origin Energy urged shareholders yesterday to reject BG Group's £6.7billion hostile takeover.
North Sea operator agrees £500m overdraft
CANADIAN oil and gas operator Oilexco said yesterday its Oilexco North Sea subsidiary had signed an agreement with the Royal Bank of Scotland to increase its credit line to about £500million.
Oil operators accused of risking safety in exploitation bid
Offshore oil operators were accused last night of deliberately delaying maintenance operations to produce as much oil as possible to exploit sky-high world prices.
Disappointed hauliers get no joy after major demonstration
Scottish haulage bosses left London last night "deeply disappointed" after the UK Government defied a demonstration against soaring fuel costs.
Module firm continues to invest in fleet
A NORTH-EAST supplier of offshore accommodation modules and containers for the international energy industry yesterday reported record growth in 2007.
Expro chief upbeat about firm’s future under private ownership
The Aberdonian chief executive of international oilfield service group Expro has predicted a "fantastic future" for the business under its new ownership.
Hunting kept strong by energy demand
INTERNATIONAL energy service company Hunting said yesterday that trading conditions continued to be robust and the board remained confident on the outlook for 2008.
Holyrood committee ‘misses the point’ over energy HQ loss
THE Holyrood committee which blamed civil servants for banning former deputy first minister Nicol Stephen from championing Aberdeen's case to host a £1billion energy institute was itself accused last night of "missing the point".
Venture making progress despite Chestnut production delay
Venture Production said yesterday it had continued to make solid progress in developing new assets in the first half of 2008 despite the delay of first oil from the Chestnut field.
Oil surges to $144 a barrel as tension mounts in Iran
The cost of oil surged to a new record near $144 a barrel yesterday as oil company bosses gathered in Madrid to discuss rocketing prices.
Piper Alpha disaster remembered
The minister who will lead the Piper Alpha commemorations said the pain of the disaster could be felt across an entire city.
MSP ‘gagged over energy institute’
Former deputy first minister Nicol Stephen was gagged by civil servants when he tried to secure a £1billion energy institute for Aberdeen, it can be revealed today.
SSE and port operator to be power partners
Forth Ports and Scottish and Southern Energy (SSE) said yesterday they were to develop renewable-energy projects around Forth Ports sites in Scotland and England.
ScottishPower team has eye on £100m UK CCS prize
A consortium led by ScottishPower has qualified as an entrant in the UK Government's competition to develop Britain's first commercial scale carbon-capture and storage (CCS) project.
Consultancy is bought for £20m
Well management company AGR Petroleum Services has bought Aberdeen's TRACS International Consultancy in a deal worth £20million.
Scots MPs pile pressure on Treasury to cool fuel costs
Treasury ministers face renewed pressure in the Commons to take action to cool soaring fuel prices.
Six-figure win for Aberdeen software specialist
ABERDEEN-BASED software, training and consultancy specialist Monitor announced a contract win yesterday for the oil industry worth a six-figure sum.
Moth find pleases operator
Oil and gas operator Oilexco has announced a "significant" discovery in UK waters.
Energy stocks help to keep blue chips in the black
OIL prices reached a new record high yesterday before falling back as the London market ended a volatile session in positive territory.
Legal move to delay Expro sale rejected
LEGAL moves to delay the buyout of oil and gas service company Expro International by a private-equity consortium were rejected yesterday, leaving rival bidder Halliburton out of the running.
Rising oil prices biggest inflation risk, says bank chief
Bank of England rate setters said yesterday that a further rise in oil prices posed the biggest threat to efforts to bring runaway inflation under control.
Simmons says market forces driving crude to record highs
The chairman of energy investment-banking firm Simmons and Company International has predicted that oil prices could double or more within a few years.
Cape workers may down tools in North Sea
Several hundred employees of oil service firm Cape could soon take unofficial industrial action, a North Sea union leader said last night.
All-Energy event scoops runner-up accolade
ABERDEEN'S All-Energy show, the UK's largest renewable-energy exhibition and conference, has been awarded runner-up spot in the Advocate Award at the British Renewable Energy Awards.