China’s biggest oil company posts 52% decline in 2015 profit
China National Petroleum Corp., the country’s biggest oil and gas producer and the parent of PetroChina Co., said profit fell 52 percent as lower oil prices punished global explorers.
Daily
CHC Helicopter back this year’s Energy Ball
The title sponsor of the Press and Journal Energy Ball is backing this year’s event to be another fantastic celebration of the vital oil and gas sector.
Aker posts profit drop on oil slowdown
Aker Solutions saw its revenue decline by NOK2billion in the first quarter of the year compared with 2015 amid the continued oil price decline.
Aker and ABB insist they’re collaborating not merging
Aker Solutions and ABB are joining together to develop new technical solutions for the oil and gas industry, but people shouldn't take that to mean there's a merger on the cards.
Harkand in talks to secure long-term future as IRM market squeezed
Talks are taking place this week to secure the long-term future of oil and gas shipping company Harkand Group.
North Sea operators Total and Statoil above expectations with first quarter results
North Sea operators Total and Statoil both posted forecast-beating first quarter results yesterday, though profits still suffered amid the ongoing low oil price carnage.
Statoil unexpectedly posts profit in first quarter amid oil drop
Statoil ASA, Norway’s biggest oil company, said profits slumped by 86 percent as crude prices fell to their lowest level in almost 12 years in the first quarter.
Amec Foster Wheeler appoints new CEO, awards £775,000 salary
Amec Foster Wheeler has named Jon Lewis as its new chief executive.
Top Norwegian rainmaker predicts oil crash is nearing bottom
Shipping is about to lead a recovery in global offshore markets that have been battered by plunging oil prices, according to one of Norway’s biggest dealmakers over the past three decades.
Total quarterly profit beats estimates, helped by refining
Total SA’s first-quarter profit fell 37 percent, beating analysts’ forecasts as cost cuts, rising production and resilient refining profits helped the French company offset the slump in crude prices.
Aker Solutions and ABB form subsea alliance
Aker Solutions and ABB have agreed a subsea alliance to target new business.
Prosafe ropes in legal experts as it battles mounting debt
Prosafe today confirmed it had been forced to start discussions with legal and financial experts as it battles mounting debts.
Oil’s magic number becomes $50 a barrel for promise of recovery
The new magic number in the oil industry is $50.
Technip wins four-year Brazil deal
Technip has landed a contract extension with the Petrobras.
Likely Lad Bolam stars in sell out anti-fracking play
One of Britain's best known actors is starring in as an anti-fracking campaigner in a sell-out play that dramatises the fight against shale in Sussex.
BP prepared to sell upstream assets to the right kind of buyer
Oil giant BP said yesterday it may offload offshore assets in line with divestment plans if it was felt they “would be better in the hands of others”.
James Fisher and Sons wins nuclear plant contract
Marine service company James Fisher and Sons (JFS) won a £60million decommissioning contract on a nuclear plant in Dorset.
Hial airports in record 2015/16 – but oil sector woes start to take toll
Passenger numbers at Highlands and Islands Airports (Hial) edged up to hit a new record in its last financial year despite a disappointing start to 2016. The group of 11 regional terminals was used by a total of 1,437,625 people in the year ended March 31, up by 0.4%, on the previous year, according to figures released yesterday. Inverness was the busiest airport in 2015/16, handling 671,103 passengers over the 12 months, an annual increase of 2%.
MPs call for slashed carbon emissions in power sector
The Government should set a target to slash the power sector’s carbon emissions by 2030, MPs have urged.
Sparrows staff told take 7% pay cut or face contract termination
Sparrows Group has called on employees to take a voluntary 7% reduction in their salaries or risk having their contracts terminated.
Rigs in Norwegian North Sea to be assessed after oil worker death
The Norwegian Maritime Directorate (NMD) said it will check all rigs on the Norwegian Continental Shelf following the death of a worker in a huge storm.
BP slumps to first quarter loss, two weeks after pay rebellion
BP today reported a first quarter replacement cost loss of $485million - a significant decrease on last year's $2.1billion profit.
Husky gets $1.3billion in relief from Hong Kong’s richest man
Husky Energy Inc., which posted a record loss last year amid the worst oil market downturn in decades, raised C$1.7 billion ($1.3 billion) for some of its Canadian pipelines by keeping them in the family.
North Sea contractor avoids jail after swindling firms out of £33k
A North Sea contractor has narrowly avoided jail after swindling two oil and gas firms out of almost £34,000.
UK power needs plan B as Hinkley decision delayed, Labour says
The U.K. government must lay out specific options to fill a looming energy shortfall after Electricite de France SA delayed a decision last week on whether to build Britain’s first nuclear power plant in 30 years, the opposition Labour Party said.