Oil engineering firm Willbros Group has been warned its stock could be de-listed from the New York Stock Exchange. The move will happen unless the company trades at an average of $1 a share over a 30-day period. The company said in 10 days it will tell the NYSE how it aims to get back into compliance with the group’s listing standards within six months.
Subsea navigation and positioning specialist Sonardyne has opened its first permanent office in France to help support its customers in the Mediterranean.
Accenture has entered into an agreement to acquire Schlumberger Business Consulting (SBC), the management consulting unit of oilfield services specialist Schlumberger for an undisclosed sum.
The Norwegian Petroleum Safety Authority (PSA) has warned North Atlantic Drilling (NAD) that an incident on a drilling unit could have caused injury to staff. An investigation by the PSA was carried out after an incident on the West Venture in March this year when it was operating on the Troll field. It comes at the same time as Transocean were hit with a report outlining concerns over safety following an incident the same month.
The Norwegian Petroleum Safety Authority (PSA) has called for a number of improvements to be made after a roustabout was injured on the Transocean Barents drilling unit. The incident, which happened in March this year, left the worker with injuries to his head, neck and back. He had been carrying out an inspection of the derrick when the accident happened.
Switching to LED street lights could save millions of pounds a year for local authorities across Scotland, new figures suggest.
Oil prices fell in early Asian trading on Monday as Japan's economy contracted on the back of falling exports and consumer spending, adding to fears that Asia's biggest economies are starting to slow at the same time. U.S. crude was trading at $42.07 per barrel at 0012 GMT, 43 cents below their last settlement and close to more than six-year lows. Brent futures were at $48.69 a barrel, down 50 cents but still some way off from their 2015-low of $45.19. Japan's economy, the second biggest in Asia and number three in the world, shrank at an annualised pace of 1.6 percent in April-June as exports slumped and consumers cut back on spending.
Nigeria’s Accident Investigation Bureau (AIB) has recovered the flight data recorder from a helicopter which crashed on the way from an oil platform. The incident earlier this month left six people dead and others injured after the Sikorsky 76 Bristow helicopter crashed into a lagoon. The aircraft had been carrying 10 passengers and 2 crew when the incident happened.
London’s top-flight was held back by another difficult session for its big oil and commodities stocks today amid a recovery in shares elsewhere. The FTSE 100 Index was 20.9 points lower at 6529.9 while Germany’s Dax and France’s Cac 40 were ahead, bouncing back from a tough few days for world markets in the previous week. Asian stocks were mixed overnight after figures showing the Japanese economy shrank in the second quarter - with Tokyo’s Nikkei ahead on hopes that it would mean more stimulus for the region’s second biggest economy.
Subsea cable protection specialist Tekmar Energy has begun installing its equipment on what will be one of the world's largest offshore wind parks.
British gas prices fell on Monday due to an oversupplied transmission system, helped by rising liquefied natural gas (LNG) terminal send-outs as new tankers sailed for the UK. Rising flows from the South Hook LNG terminal in Wales offset the impact of maintenance at Norway's Kollsnes gas processing platform, which has resulted in restricted exports to Britain. "This reduction has been more than offset though by a ramp-up in send-outs from South Hook, nominated at 51 million cubic metres/day (mcm). Though flows have yet to physically reach this level," said Marcel Boonaert, head of trading and portfolio at Wingas UK.
Green Dragon Gas, the China-focused independent, has increased revenue and cut its loss from $69.3million to $1.4million in the first half of the year.
A strong gas performance and focus on cutting costs delivered encouraging second quarter performance for Tethys Petroleum, the Caspian focused producer said, despite reporting a spiked loss.
So much for “all the above.” President Obama’s “clean power plan” for combatting climate change, unveiled Aug. 3, makes it clear that the U.S. strategy is to plunge head first into renewable energy -- no bridge fuels, no gradual migration to a low-carbon future.
Texans cranking up their air conditioners to battle a heat wave are spurring the highest electricity prices since the so-called polar vortex brought frigid arctic air into the U.S. 18 months ago.
Refinery operator Unipetrol posted its worst two-day slump in more than six years as speculation mounted that a fire that shut down the company’s ethylene unit may curb earnings.
Malaysia's Petroliam Nasional Bhd (Petronas) PETR.UL on Friday said cash from operations will cover neither capital expenses nor committed dividends for 2015, forcing the state-owned oil firm to draw on reserves and further cost savings. Petronas contributes almost half of Malaysia's oil revenue. But weak global prices have depressed income, leaving the country with a devalued currency and at risk of a credit-rating downgrade, while debts mount at state investment fund 1MDB. "We will have to persevere with more austerity measures," said Petronas President and Group Chief Executive Wan Zulkiflee Wan Ariffin at an earnings briefing.
Indian renewable power producer Mytrah Energy made a pre-tax loss in the first half of 2015 whilst making progress towards new construction projects.
Big Six energy provider Npower said it had lost 300,000 customer accounts over the last year as a result of ongoing problems with its billing system as it reported profits down by two-thirds in a “very tough” first half.
Plans to build a windfarm at a north-east landmark overlooking the home village of former first minister Alex Salmond have been rejected by the Scottish Government. Muirden Energy wanted to erect a dozen 326ft turbines on top of Mormond Hill – Buchan’s highest peak. But the proposals left people in Strichen outraged and were blocked by Aberdeenshire councillors. Now their decision has been upheld by Scottish Government planning reporters after the developer appealed against the local authority’s decision.
I ask for advice and guidance all the time – I always have. For me, it isn't always about the answers I get, but the way it makes me think differently about the subject. Let me give you an example. In late 2008, many economies were heading toward recession. I had been PSN’s CEO and had never led a business into a downturn before. I wondered who could help and give me some good advice on things to do, things to say, contingency plans to make.
Great Yarmouth-based 3 Sun Group has launched a new asset integrity service for on and offshore structures in the oil & gas and renewables sectors.
Power generator APR Energy has pulled out of conflict-torn Yemen over security concerns, leaving behind $24 million of modular power equipment.
The world’s first independent standards and certification system for oil and gas production is expanding into renewable energy, Equitable Origin (EO) announced today.
US power generator ContourGlobal has signed a historic deal with the Republic of Armenia to buy three hydro power plants in the south of the country.