Smaller firms facing buyouts
Junior oil and gas firms could become acquisition targets for their larger rivals this year as tightening credit markets take their toll, according to Ernst & Young (EY).
professional services firm
Oil sector ‘must raise bar’
THE future success of oil and gas firms operating in the North Sea will depend on how safely they operate while meeting rising demand for energy, according to an industry analyst.
Value of M&A activity in international oil and gas sector down
The value of mergers and acquisitions activity in the international oil and gas sector nearly halved in the second quarter of the year, according to PwC's latest global deal trends report out today.
Deloitte partner believes oil will climb back towards $80
Derek Henderson, senior partner at professional services firm Deloitte in Aberdeen, believes the world may have to get used to an average oil price close to $80 a barrel.
Administrator reveals ONS liabilities more than £1billion
Oilexco North Sea (ONS) has liabilities of about £1.1billion, a joint administrator for the crashed oil company said yesterday.
Slump in UK North Sea exploration
Exploration activity in the UK continental shelf (UKCS) has tailed off significantly over the past 12 months, according to a new report.
Hope for failed oil firm’s unsecured creditors
UNSECURED creditors of Tuscan Energy (Cragganmore) are likely to get at least some of their money back, joint administrators for the firm have revealed.
Report reveals end-of-year slump in oil and gas deals
The value of deals in the worldwide oil and gas industry reduced progressively throughout 2008 before slumping in the final quarter of the year following the dramatic dip in oil prices, according to a new report.
Fears for jobs as oil and gas firm faces administration
Oil and gas firm Oilexco North Sea (ONS) is poised to go into administration, leaving a questionmark over 50 jobs in Aberdeen.
Lean second half forecast for North Sea
Hundreds of millions of pounds of oil and gas exploration and development activity in the North Sea will be shelved next year, the senior partner of PricewaterhouseCoopers in Aberdeen has warned.