Anadarko Petroleum Corp. was ordered to pay almost $160 million for its role as part-owner of the doomed Gulf of Mexico well that in 2010 caused the biggest offshore oil spill in U.S. history.
Back in 2009, China was a reluctant partner during major climate negotiations in Copenhagen that eventually collapsed amid recriminations between rich and poor nations. This time around the world’s biggest polluter is regarded as a driving force behind what could be a comprehensive deal at a world climate summit in Paris.
Oil headed for its largest monthly drop since July as Iran signaled the Organization of Petroleum Exporting Countries won’t reduce its production target at a meeting this week.
A new drive to reduce costs in the North Sea oil and gas industry is expected to unlock up to £1billion in additional revenue through improved production efficiency and cost savings.
Yesterday's news regarding the withdrawal of the £1 billion capital subsidy by a government who only six months ago were firmly committed to CCS as part of their election manifesto was a shock for many people across the energy industry.
Improved offshore oil and gas output helped the UK boost its energy production from July to September, while electricity from wind also soared, new figures show.
The UK oil and gas industry’s trade association hailed the hydrocarbon production statistics, while green groups said the renewables industry was getting stronger in Scotland.
It comes a day after Chancellor George Osborne said UK oil and gas revenues are expected to nosedive 94% this year, in a blow to North Sea industry.
Aberdeen marine technology firm Nautronix had fallen £1million into the red ahead of it being bought out by Proserv, accounts posted at Companies House have shown.
The chief executive of Portlethen-based Saltire Energy, Mike Loggie, has added another gong to a fast-growing list by winning the entrepreneur of the year title at a business awards event.
Offshore industry heavyweights told young oil and gas professionals in Aberdeen they could play a huge part in a “culture shift” adjustment to low crude prices.
Oil pared its first weekly gain in a month as Libya sought to increase output and Russia ruled out military retaliation against Turkey for downing its jet near the Syrian border.
Confidence levels among oil and gas contractors working in the North Sea have hit an all-time low, with a large majority believing job losses will continue over the next year, an industry report has found.
Wood Group PSN has won a new contract worth around $90 million to deliver services to one of the world's leading blue-chip international oil companies in Iraq.
Sir Ian Wood warned yesterday that the north-east faces becoming a “museum” if the region fails to secure funding from the £3billion Aberdeen City Region Deal.
In a performance that most magicians could only dream of aspiring towards, Chancellor George Osborne delivered an alleged austerity autumn statement that both mesmerised and left red-faced the Chairman Mao little red book-waving Labour opposition.
The lives of offshore workers are being put at risk because they are so afraid of losing their jobs they do not report dangerous safety breaches, unions will warn Holyrood today.
We live in challenging times. I’m sure like everyone else you read on a regular basis headlines about yet another round of consultation over jobs at risk, or doom and gloom for the North Sea - or global - oil industry.