SNP accuse Osborne of “sitting on his hands” over offshore tax cuts
The SNP has accused George Osborne of "sitting on his hands" over tax cuts for the offshore industry on the eve of a debate in parliament today.
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Hunting reduces headcount by 30%, closes four operating sites
Hunting today confirmed it had reduced its headcount by 30% and closed four operating sites in the past year.
Exxon sees no oil-market rebound any time soon as glut persists
Exxon Mobil Corp. scaled back production targets and said drilling budgets will continue to drop through the end of next year as the oil market shows no signs of a recovery.
SNS 2016: OGA’s Andy Samuel – Companies must target sub-$15 operating costs
The head of the new oil and gas regulator has urged companies to do more to bring down production costs - challenging them to get below the industry body’s target of $15 per barrel.
Aggreko diversifies to protect revenue amid low oil price
Aggreko today confirmed sector diversification had offset a 25% decline in its oil and gas turnover.
SNS 2016: Michie calls £1.3billion tax breaks for the North Sea “so last year”
The chief executive of Oil & Gas UK has branded the £1.3billion tax breaks for the North Sea industry previously signed off by the Treasury as “so last year”. Deirdre Michie said the measures unveiled by George Osborne last March - which included a slashing of rates and new investment allowances - were obviously “very welcome”.
Export success down to urgency and passion
Aberdeen entrepreneurs need to show a sense of urgency and passion if they want to make exporting work for their companies, local businessmen said yesterday. Peter Moon, an account manager at oil and gas software firm Tracker, which has only been in the export market for a year, said he wished the firm had gotten in on the act earlier. Mr Moon, whose company is targeting Middle Eastern clients, said: “We’ve taken a target-driven approach to exporting. Exporting seems a long way off to some people. You can make a two to three year programme but if you think like that, then in two years you will still just be talking about exporting.
Renew News: Lego sets out building blocks for renewable energy
LEGO has laid out the building blocks to be powered only through renewable energy in the next five years.
SandRidge ex-CEO Ward said to be alleged McClendon conspirator
The natural gas explorer who allegedly conspired with the late Aubrey McClendon to rig drilling auctions was Tom Ward, then chairman and chief executive officer of SandRidge Energy Inc., according to people familiar with the matter.
Iran in the spotlight at Aberdeen event
North-east firms will be welcomed into Iran as its huge oil and gas industry seeks foreign support, an expert on the newly opened market said yesterday. Jamie Stark, a partner at law firm Burness Paull specialising in oil and gas services and regulatory compliance, said there were a wealth of new opportunities in the Middle East country as a result of the recent lifting of trade sanctions.
Sudden policy changes ‘spooking’ clean energy project investors
Sudden and unexpected changes in policy have “spooked” investors and could push up the costs to households of building much needed new energy projects, MPs have warned.
Fuel prices increase for first time in seven months
Average petrol prices rose for the first time in seven months in February, data shows.
Green Investment Bank to be sold by government
The Green Investment Bank is to be sold off by the Government in a bid to drive more private money into green energy projects. The Government will fire the starting pistol on the sale on March 3 when it invites private investors to express an interest.
Amec Foster Wheeler refinances
Service powerhouse Amec Foster Wheeler today confirmed it had completed a financing revamp.
Looking for a new job? Don’t tell anyone you work in the oil industry
Job hunters are being advised not to tell prospective employers they work in the oil industry or live in Aberdeen - if they don't want to their CVs to go the bottom of the pile.
Noreco Norway pulls plug on activity as sale nears
Noreco Norway today confirmed it has sold its remaining exploration licences, employees and a cash balance of NOK45million to Det norske oljeselskap.
Saudi Arabia faces a new oil Titan once battle with shale is won
Even if Saudi Arabia wins its struggle with U.S. shale producers over market share, it will face a new billion-barrel adversary.
Stop exaggerating. There’s still plenty of life in the North Sea
Reports of the demise of North Sea oil and gas are greatly exaggerated, the boss of a global technical recruitment company insisted yesterday.
A $400billion manager sticks to trusted ways as dark skies loom
Hugh Young has no illusions about how tough this year will be for global investors and his firm, Aberdeen Asset Management Plc.
Europa Oil & Gas seeks farm-in partner after stellar offshore trio bulks portfolio
Europa Oil & Gas today said a trio of offshore finds will add 895 million barrels of oil equivalent (boe) to its portfolio.
Nexen confirms 120 job losses
Nexen confirmed it would cut 120 jobs as it battles disputed operations and faltering oil prices.
Nigeria deploys troops to protect oil facilities from sabotage
Nigeria is deploying more troops to protect oil installations to curb sabotage after a leak forced crude loadings to be suspended last month at a major export terminal.
Fracking pioneer McClendon accused of rigging Oklahoma bids
Aubrey McClendon has been called a pioneer and a natural gas evangelist. Now he might just be the architect of his own destruction.
US offshore wind companies gain critical mass and big backers
After years of false starts, U.S. offshore wind has attracted some marquee names with deep pockets, creating a sense of optimism for the emerging industry.
Duo commit to investing £10m on Wick district heating scheme
A renewable-energy fund and an infrastructure firm yesterday committed to spend £9.8million on buying and upgrading the district heating scheme in Wick. The UK Green Investment Bank (GIB) and Equitix said they would improve the infrastructure at the Wick green-energy plant and expand the heating system to cover another 150 customers. They announced their plans after agreeing to buy the company that had owned and operated the scheme, Ignis Biomass, from Jersey-based fund Ludgate Environmental.