Troubled Bowleven launches strategic review
Boardroom turmoil at troubled Scottish oil explorer Bowleven took a new twist last night, when the company launched a “strategic review of all options”.
Oil and gas news
Abbot Group founder Alasdair Locke poised to cash in on Argenta sale
One of Scotland’s wealthiest businessmen, Alasdair Locke, is boosting his fortune through the £142.5million sale of financial services company Argenta.
WoodMac report highlights cautious mood in the upstream sector
Upstream oil and gas companies may be quietly optimistic about the outlook for 2017 but many remain cautious, according to a report by Scottish energy consultancy Wood Mackenzie (WoodMac).
Sir Ian Wood: No place for ‘bad habits’ in a recovering North Sea industry
Green shoots of recovery in the North Sea must be nurtured without any return to the “bad habits” of not so long ago, industry doyen Sir Ian Wood warned yesterday.
Total confirms move from Aberdeen to nearby Westhill
About 800 onshore workers employed by Total in Aberdeen are moving into Subsea 7’s old west campus building in nearby Westhill.
Bowleven shares drop after boardroom coup
Five directors at Scottish oil explorer Bowleven, including chief executive Kevin Hart, were ousted in a shareholder revolt yesterday.
Peterson lands major deal with BP in the Caribbean
International energy logistics firm Peterson said yesterday a new multimillion-contract with BP in the Caribbean built on a strong relationship developed in the UK North Sea.
Boardoom coup at Bowleven
Five directors at Scottish oil explorer Bowleven, including chief executive Kevin Hart, have been ousted in a shareholder revolt.
Atlantic to sell Orlando stake in return for revenue share
North Sea independent Decipher Energy has struck a deal to buy a 25% stake in the Orlando oil field north-east of Shetland.
New MD appointed to drive growth at Ecosse Subsea Systems
North-east firm Ecosse Subsea Systems (ESS) said yesterday it had hired oil and gas industry veteran Mark Gillespie as managing director to drive “significant” growth over the next five years.
Ithaca spells out why shareholders should sell out to Israel’s Delek Group
North Sea oil producer Ithaca Energy has formally urged investors to accept a takeover offer for all the remaining stock not already owned by its largest shareholder.
AFW and Wood Group shares boosted by takeover deal
Amec Foster Wheeler (AMF) shares surged nearly 12% higher following news of the takeover deal yesterday.
Aberdeen firm Read expects new work with Shell to create four jobs
Oilfield well integrity specialist Read Cased Hole, of Aberdeen, said yesterday a new multi-country contract with energy giant Shell would lead to four new jobs.
Durrant insists Premier is on track for a healthy balance sheet
Premier Oil chief executive Tony Durrant said last night he aimed to have the North Sea operator’s net debt down to a “rule of thumb” level by the end of next year.
Lazy or fantastic about technology? ITF delegates hear contrasting views
The oil and gas industry can be “lazy” about adopting new technologies or “fantastic” at it, according to two of the speakers in a panel debate at the ITF event at Aberdeen Exhibition and Conference Centre yesterday.
11 billion North Sea barrels left at “lower for longer” prices, new research says
A new Aberdeen University study suggests the UK North Sea can deliver nearly 11billion more barrels of oil equivalent (boe) at “lower for longer” prices.
Exclusive: Revolutionary North Sea scheme will emulate football free transfers in bid to save jobs
The North Sea oil and gas industry is looking to a football-style loan transfer scheme to resolve skills shortages after it emerges from a long and brutal downturn.
Weir lifted by signs of oil and gas recovery
Scottish engineer Weir Group said today it returned to growth during the final quarter of 2016, boosted by a recovery in oil and gas markets.
New trainee levy ‘effectively another tax on oil industry’
The interim chief executive of Opito told MPs yesterday the UK Government’s new apprenticeship levy will have “unacceptable” implications for Scotland’s oil and gas sector.
Ineos empire ‘doing better than ever’, says billionaire Jim Ratcliffe
The billionaire behind North Sea oil and gas newcomer Ineos Breagh has reported record profits for his wider business empire.
Nu-Oil announces £2.05m cash boost, but share price nosedives
NU-Oil and Gas said today it had raised £2.05million from a share placement to support its strategy of investing in stranded and marginal fields.
Premier and BP both in the speculation spotlight
North Sea operator Premier Oil is believed to be mulling potential tie-ups on the back of a new finance deal with lenders.
Braemar shares plunge after profit warning
Braemar Shipping Services (BSS) saw more than £10million wiped off its market value today after it said profits for its current trading year were likely to be lower than expected.
Schlumberger posts full-year net losses
Schlumberger saw net income slump into the red as revenue plummeted by 22% during 2016.
Proserv unveils plans for international expansion
North-east energy service firm Proserv said yesterday it was setting up new bases in India and Saudi Arabia on the back of new contracts worth about £10million.