Insolvency experts hone in on Aberdeen
An insolvency firm new to Aberdeen expects others to follow in its path as more businesses struggle amid the oil and gas downturn.
Financial news
BP picks new auditor in Deloitte
BP will ask its shareholders to approve the appointment of Deloitte as the company’s auditor for the financial year 2018 at its AGM.
EnQuest restructuring closer to activation point after vote
EnQuest’s creditors overwhelmingly backed the firm’s restructuring plans today.
First-half profits down 13% at SSE, 70,000 accounts closed
Energy giant SSE remained under pressure amid a customer exodus as it posted a 13% drop in half-year profits after losing another 70,000 accounts.
Premier Oil shares nosedive amid refinancing gossip
North Sea operator Premier Oil saw tens of millions pounds wiped off its market value yesterday amid speculation suggesting some of its lenders were baling out.
Losses widen at Axis Well Technology
Axis Well Technology Group said it performed “satisfactorily” during its 2015/16 trading year, despite a substantial widening of losses on lower turnover.
Prosafe revenues down 16% as vessel utilisation sinks
A drop in demand for Prosafe vessels reduced third quarter revenues at the offshore accommodation provider by 15.5% to $130million.
BP rising to oil price challenge, returns to profit
BP returned to profit in the third quarter as the oil major made “good progress” adjusting to the low crude price environment.
Buoyant Middle East market sends profits soaring at Kelton
New product launches and demand from the Middle East have combined to help oil and gas consultancy Kelton Engineering lift its profits by nearly 90%. The Aberdeen-headquartered engineering consultancy said UK trading had held reasonably firm in the year ended September 30, 2015, a period which saw Brent crude prices fall from just under $100 a barrel to about $50. But bosses at Kelton expect the industry downturn to have a greater impact on income during the current financial year.