Judge ‘horrified’ by restructuring cost as McDermott was ‘on the verge of collapse’
A UK judge said he was “horrified” by the cost of a plan to restructure a McDermott firm that is in debt as the group was "on the verge of collapse."
Oil & Gas
Vysus Group appoints new CEO in leadership restructure
Aberdeenshire-headquartered consultancy Vysus Group has appointed a new chief executive officer as part of a leadership restructure.
BP cuts executive leadership team down to ten
BP (LON:BP) has shuffled its executive management, cutting the leadership team from eleven position to ten and promoting two people in an organisational overhaul.
NSTA fines NEO Energy £100k for breaching venting consents
The North Sea Transition Authority (NSTA) has fined NEO Energy £100,000 breaching its combined vent consent for the Donan/Dumbarton, Lochranza and Balloch fields.
Petrofac secures $350m contract with Equatorial Guinea’s national oil company
Oil and gas service provider Petrofac (LON:PFC) has secured a $350 million contract with the national oil company of Equatorial Guinea.
Shareholders to pitch splitting TotalEnergies CEO and chairperson roles
Investors in French oil major TotalEnergies (LON: TTE) will call for the division of the role of CEO and chairperson of the company, claiming this could speed up its transition towards clean energy.
Step Change in Safety launches survey at Aberdeen event
Step Change in Safety is set to launch its Process Safety Workforce Survey during an Aberdeen event.
‘We were ready to go’: North Sea firm was ‘days away’ from issuing contracts when Labour announcement sparked job cuts
The CEO of a North Sea gas company has said his team was “days away” from issuing key contracts when Labour’s promise of a “proper windfall tax” sparked job cuts.
Chevron launches $500 million fund to invest in clean tech
Chevron Corp.’s (NYSE:CVX) venture arm launched a fund — its third — with a $500 million commitment to invest in clean energy technologies.
Kazakhstan’s compensation claims against Kashagan oil firms jump to $150 billion
Companies including Eni, Shell, ExxonMobil and TotalEnergies invested close to $55 billion to develop Kashagan
Altrad to buy Aberdeen-headquartered energy services firm Stork
Altrad, the French industrial giant, has announced it is acquiring Aberdeen-headquartered energy services firm Stork.
North Sea firm warns windfall tax risks derailing project
Europa Oil & Gas (AIM: EOG) has warned that its Serenity oil development in the Central North Sea could be hit by a new government changing its fiscal policy.
Ex-Shell head Ben van Beurden joins investment group KKR
Former Shell (LON:SHEL) chief executive officer Ben van Beurden will join private equity group KKR as a senior advisor on green investments, reports say.
Syros: Deltic eyes farm out on ‘drill-ready’ project by end of year
Hot off its Southern North Sea success with Shell, Deltic Energy (AIM: DELT) said it is progressing plans for a farm out deal on its “drill-ready” Syros prospect by the end of this year.
Sir Ian Wood calls for greater UK-Scottish Government collaboration
Chairman of Energy Transition Zone (ETZ) Sir Ian Wood has called for urgent collaboration between the Scottish and UK Governments to unlock Scotland's energy potential in a preview conversation ahead of the Energy Exports Conference.
Orcadian says Elke North Sea prospect has potential to be ‘bigger than Pilot’
Orcadian Energy CEO also said first oil could be achieved at its Pilot development by 2028
Dozens of jobs created as Balmoral Comtec lands Rosebank contract win
Balmoral Comtec has secured a multi-million-pound contract on the Rosebank oilfield, creating more than 50 jobs in Aberdeen.
SNP blasts “betrayal” of North East over energy civil servant jobs
Four SNP MPs have called on the UK government to explain the confusion over the number of energy civil servants headed for Aberdeen.
Interocean launches ultra-fast inspection drone
Specialist provider of offshore support services, Interocean Marine Services has carried out an ultra-fast demonstration integrity inspection on the Valaris Viking jack-up rig.
Ashtead Technology to continue M&A strategy after strong 2023
Subsea equipment specialist Ashtead Technology (AIM: AT.) aims to continue its ongoing mergers and acquisition (M&A) strategy after it helped deliver strong results for the company in 2023.
Petrofac debt puts it in ‘challenging financial position’
Oil and gas service provider Petrofac's (LON:PFC) efforts to restructure its debt could lead to a significant dilution for shareholders, according to an analyst.
New images show demolition of Aberdeen’s landmark Shell HQ
Diggers were seen tearing down the iconic Altens building, which was once hailed as the energy giant's "nerve centre".
Ashtead sees revenue surge in 2023 results
Wood Group faces call from Sparta Capital to explore sale or US listing
Call from Sparta Capital Management comes a year after collapse of £1.7bn Wood takeover bid from private equity giant Apollo.
Staff take control at Crondall Energy in management buyout
Crondall Energy has undergone a management buyout with almost 30 staff members taking an ownership stake in the independent offshore energy consultancy.