Plexus shares dive again despite new Russian deal
Plexus Holdings said today a new Russian licensing deal would help in its mission to diversify business from the UK North Sea.
Daily
Statoil remains tight-lipped over voluntary redundancies
Statoil is remaining tight-lipped about how many people have applied for voluntary redundancy with the company. Last year the Norwegian operator revealed it had offered the packages to its Norwegian staff.
JDR wins Marathon contract on West Brae field
Marathon Oil has awarded JDR a contract for the design and manufacture of power and static subsea umbilicals with accompanying hardware for the West Brae field. The company said the full scope of the award will be manufactured and deployed from JDR’s Hartlepool facility.
Nicola Sturgeon brings cabinet together for North Sea crisis talks
A special meeting of the Scottish cabinet is being held today with talks focused on the oil and gas industry.
Oil extends slide below $30 as US supplies seen expanding glut
Oil extended its decline back below $30 a barrel before weekly U.S. government data forecast to show crude stockpiles expanded for a third week, exacerbating a global glut.
Oil murder for hire trial: ‘Idiots being idiots’
The trial of a man who allegedly orchestrated the murder of his business partner in a North Dakota oil basin started jury selection yesterday.
Fund managers who second-guessed oil market plan to stay away for years
A number of mutual fund managers who dumped their shares in energy companies before oil slid to 12-year lows now see themselves avoiding the sector for years to come rather than picking up shares trading at their cheapest levels in years.
New support organisation for Aberdeen’s struggling corporate elites to launch
Four businessmen will this week launch a new service which provides support for people who have fallen on hard times in Aberdeen's corporate sector. The Business Connection will organise fortnightly meetings for business people who want to discuss their fears and anxieties with others who are in the same boat. The charity will also refer people onto third party organisations that specialise in financial advice, or counselling for those considering suicide.
Energy Minister says plans afoot to revive “corpse” of Peterhead CCS project
Attempts are being made to revive the “corpse” of the carbon capture and storage (CCS) project which had been destined for Peterhead, Scotland’s energy minister said yesterday. But Fergus Ewing said none of the other options being mulled would be easy to put into practice. Plans to build the CCS plant were derailed in November following the UK Government’s decision to cut £1billion worth of funding for the technology.
Saudis unbowed by oil crash with no spending cut before IPO
The world’s biggest oil producer is spending as much now as it did before the crash in crude prices, signaling no surrender in Saudi Arabia’s battle with rivals.
How the oil bust wiped out one North Dakota oil refiner’s profit
For the first new refinery in the U.S. in seven years, the idea was simple: Buy cheap oil from shale producers, then score a quick profit by selling it right back to them as more expensive diesel needed to power their trucks and drilling rigs.
Crisis looms for UK electricity supplies, report says
The UK is heading for a severe electricity supply crisis by 2025, the Institution of Mechanical Engineers (IME) is warning today.
Halliburton makes 4,000 job losses, predicts more to come
Halliburton has reduced its headcount by another 4,000 jobs, the company said. The losses happened in the final three months of last year, as the firm looked to manage finances amid the oil price decline.
Platts Survey: OPEC’s production down
OPEC’s production in the month of December fell by 130,000 barrels per day, according to the latest Platts survey.
SBM chief executive settles with Brazilian prosecutors
SBM Offshore’s chief executive has avoided an admission of guilt after settling with Brazilian prosecutors over “personal favouritism” charges.
Hurricane Energy launches recruitment campaign for senior leader
Hurricane Energy has launched a recruitment campaign for a chief financial officer.
Plexus issues earnings warning as North Sea business takes hammering
Plexus has issued a significant earnings warning ahead of its half year results, saying its North Sea business has struggled to weather the oil price storm.
Industry making same downturn mistakes, says new report
The oil and gas industry is falling victim to the same mistakes, a new report has said.
Pemex evacuates platform after fire breaks out
Pemex was forced to evacuate a platform in its top producing oilfield after a fire broke out in the machine room.
Simple steps to protecting yourself should redundancy come calling
The oil and gas crisis has left thousands of people out of work. Allan Gardner, financial services director at Aberdeen law firm Aberdein Considine, highlights some of the financial implications of losing your job.
Oil swings near $32 after biggest two-day rally in seven years
Oil fluctuated near $32 a barrel after the biggest two-day rally in more than seven years.
Corporate insolvencies down despite late surge in 2015
The number of failing businesses reduced in Scotland last year, insolvency figures show.
Indian takeover for Aberdeen subsidiary of collapsed subsea firm
An Aberdeen firm whose parent collapsed into administration amid the growing oil and gas crisis is under new Indian ownership.
Bosses in show of confidence over future oilfield service industry
A survey of 200 senior bosses of firms with operations or investments in the UK oilfield service industry has delivered a huge show of faith in its prospects.
Complaints about energy firms rose 23% last year
Customer complaints about energy firms leapt by almost a quarter last year, the Energy Ombudsman has said.