Trinity agrees another extension to debt schedule
Independent E&P company Trinity has agreed a further repayment moratorium on its $13million debt with its lender until February 26.
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Fracking pioneer agrees to guide energy policy for Rubio
The co-founder and former chief executive officer of Devon Energy has signed on to shape energy policy for Florida Senator Marco Rubio, who is running for the Republican presidential nomination.
Oil slump fails to deter Dubai developers
If you thought declining home prices and rents would damp Dubai developers’ appetite for new projects, think again.
Oman’s Redeployment Strategy saves 2,100 oil jobs
Oman’s Redeployment Strategy has saved 2,100 jobs from redundancy, according to officials.
Nigeria backs oil output freeze while giving Iran way out
Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their lost market share due to sanctions and war.
Oil murder-for-hire avoids mistrial
An oil murder-for-hire case avoided being derailed after the judge threw out a mistrial bid .
Kuwait’s first CO2 plant opens
Kuwait’s first CO2 plant has officially launched.
For OPEC, path from oil freeze to output cuts is far from clear
Saudi Arabia said its accord with Russia to cap oil production was “the beginning of a process,” but the path from a freeze to the output cuts needed to eliminate a global surplus is far from clear.
Suttie pulls plug on First Oil after failing to find buyer
Billionare Ian Suttie has pulled the plug on his flagship oil and gas business after failing to find a buyer.
The robber baron who botched the world’s first oil storage trade
A century and a half before the current supply glut sent oil prices into contango, one of America’s greatest industrialists tried to make money by storing crude. He failed.
Oil trades below $31 as rising US crude stockpiles expand glut
Oil traded below $31 a barrel after U.S. crude stockpiles rose to the highest in more than eight decades as Saudi Arabia and Russia propose to freeze output amid a worldwide surplus.
New declassified documents reveal Thatcher’s reaction to Piper Alpha explosion
Newly-declassified papers have painted a dramatic picture of the moment Margaret Thatcher’s Cabinet was told about the Piper Alpha Disaster. The late Cecil Parkinson – who was energy secretary at the time – broke the news to the prime minister and colleagues just hours after the devastating explosion on the platform.
Wood Group PSN cuts contractor rates by 9%
Wood Group PSN has taken another swing of the axe to contractor rates in response to continuing cost challenges affecting the UK North Sea oil & gas sector.
Teekay reports fourth quarter income
Teekay Corporation reported fourth-quarter net income of $38.2 million, after reporting a loss in the same period a year earlier.
Turbine firm invests £50,000 in 3D tool
A Netherley-based power turbine firm has invested £50,000 in a new 3D measuring tool.
“Michelin man” to speak at jobs taskforce gig in Aberdeen
Scotland’s own “Michelin Man” is lined up to speak at a newly announced Energy Jobs Taskforce event in Aberdeen.
Files reveal former energy secretary’s “confidence” in Piper Alpha investigation
Former Energy Secretary Cecil Parkinson told the Cabinet he had "complete confidence" in Lord Cullen's inquiry into the Piper Alpha Disaster.
City experts debate when oil prices may rise
Aberdeen's oil and gas community heard that crude prices will bounce back to $60 per barrel by the end of the year - then again, they may not.
US oil production in Gulf of Mexico to reach record high in 2017
Oil production in the US Gulf of Mexico is projected to reach a record high in 2017, even as oil prices remain low.
IEA urges reinvention of power markets for low-carbon future
The world's nations must adapt to new technologies to ensure sustainability and supply security as the world moves to low-carbon power generation, according to the International Energy Agency.
Apple issues $1.5billion of green bonds
Apple has issued $1.5 billion in bonds dedicated to financing clean energy projects across its global business operations, the largest green bond to be issued by a US corporation.
Harding wins Culzean lifeboat contract
Harding has won a contract to deliver lifeboats and davits to Maersk’s Culzean project in the North Sea.
Xcite Energy extends licence for Bentley field
Xcite Energy said its licence containing the Bentley field has been extended until June next year after approval from the OGA (Oil and Gas Authority) and DECC (The Department of Energy and Climate Change).
Shale faces March madness as $1.2 billion in interest comes due
The U.S. shale industry must come up with $1.2 billion in interest payments by the end of March as $30-a- barrel oil makes it harder for companies to scrape up the cash needed to stay current on their debts.
Marathon Oil cuts 2016 spending by half
Marathon Oil said it has reduced its spending for the year by half after reporting a quarterly loss.