Financial firepower increased
Faroe Petroleum has announced a significant increase in its bank credit.
significant increase
Should the OBR re-think its tax predictions?
UK Government figures last week projected tax revenues from North Sea oil and gas would plunge by more than previously predicted in the next 30 years. This year the Treasury will raise about £11.2billion in taxes from the sector. Aberdeen University petroleum economist Professor Alex Kemp says the predictions may prove to be well wide of the mark.
Market comment: Engineering services in demand as sector remains buoyant
Amec's full-year results were almost exactly in line with consensus stock market forecasts for revenue, operating profits and earnings per share (EPS).
Oil-related traffic surge continues at Shetland port
OIL-RELATED activity at Lerwick harbour is showing a significant increase this year, the port's bosses said yesterday.
Firm attacks local authority for failing to back windfarm
A WIND energy firm has attacked Highland Council for failing to back its plans for a new windfarm near Inverness which it claims would bring £100million investment and dozens of jobs to the Highlands in difficult economic times.
Subsea 7 reports ‘strong’ second quarter
WESTHILL-based Subsea 7 reported a "strong" second quarter yesterday and said its integration with former rival Acergy was on track.
Profits soar at helicopter operator
BOND Offshore Helicopters has reported a jump in turnover and profitability.
Cosalt £25million deal for BP’s North Sea lifting equipment
Cosalt Offshore, a provider of lifting, tooling and marine services to the oil and gas industry, has secured work with BP worth up to £25million to supply all lifting equipment in the UK and Norwegian sectors of the North Sea.
Global headwinds batter profits at energy group
Taqa, the Abu Dhabi national energy company, reported a first-quarter slump in profits yesterday as it was hit by lower oil and gas prices and weaker foreign-exchange rates.
Drilling contractor takes heart from higher income
NORTHERN Offshore, the Oslo-listed oil and gas drilling contractor, has reported a significant increase in earnings in 2008 compared to the year before.
Fairfield gives Sparrows a lift
CRANEAGE company Sparrows Offshore has secured a two-year contract with Fairfield Energy covering operations in the newly acquired UK North Sea Dunlin field.