Wood Group and EnQuest shares among risers but BP fall

Bullish results from housebuilder Galliford Try and recruitment firm Hays helped the FTSE 250 Index outshine its top-tier partner today. Full Article

Weatherford hit by errors

Shares in Weatherford International plunged nearly 14% yesterday as it struggled to put major accounting errors behind it. While reporting... Full Article

Xcite shares jump in early trading after update on Bentley field

Shares in heavy-oil explorer Xcite Energy spiked yesterday after it said its Bentley field could contain 116million barrels of proved... Full Article

Weir Group Footsie’s biggest riser but Shell stocks fall

Rising oil prices and optimism that Greece will be saved from a calamitous default helped drive London’s leading shares index... Full Article

Selecting the right partner

Private equity (PE) interest in oilfield services companies is on the increase. There are a wide range of PE houses... Full Article

Make sure your numbers add up

There are signs that the oil and gas market in Aberdeen is at last beginning to pick up as the... Full Article

Aiming to double

International oil and gas logistics company Asco was sold in November to private equity firm Doughty Hanson in a deal... Full Article

Still on road to recovery

When I wrote an article 12 months ago on my predictions for the Scottish mergers and acquisitions market in 2011,... Full Article

Apache completes deal

Oil and gas firm Apache North Sea (ANS) last month completed its acquisition of the assets of Mobil North Sea,... Full Article

Global Energy a key player in marketplace

Global Energy Group had a busy 2011, with its most significant investment being the purchase of the 238-acre Nigg yard,... Full Article

Encouraging signs in oil and gas portfolio

Despite the continued uncertainty and volatility in the global economy, the oil and gas industry has remained one of the... Full Article

Acquisition helps firm’s plan to become industry leader

Energy service firm 3sun Group has hailed a deal for control of an Oban-based windfarm engineering business as helping it... Full Article

Take advice and get it right

With global expansion of the Scottish oil and gas industry – often through mergers and acquisitions – comes the need... Full Article

Bucking the national trend

The North Sea oil and gas industry continues to buck the national economic trend and provides a fertile ground for... Full Article

North Sea prospects lure US firms

Two years on, the fallout from the Macondo oil spill in the Gulf of Mexico continues to cause ripples on... Full Article

Increased confidence in market outlook

Strong oil prices resulted in the oil and gas industry remaining buoyant during 2011. In the first quarter of 2012,... Full Article

Iraqi market an attractive place to do business

It has become a well-trodden path for Aberdeen-based oilfield service companies to seek new markets and push into unknown territories... Full Article

Oilfield firms well placed to benefit from tax changes

The UK Government has shown different approaches to introducing tax policy change for business in the past 12 months. The... Full Article

2012 could be tough year for successful M&A

Trying to predict what M&A activity will transpire during 2012 can be done with one guarantee – it will turn... Full Article

Next year key period in growth of EnerMech

EnerMech has invested £30million in the acquisition of seven businesses in its first three years, establishing a broad range of... Full Article

Effective anti-bribery due diligence is key

In today’s climate, where corruption is rarely out of the headlines, businesses are under mounting pressure from a media and... Full Article

All change at Wood Group

Last year saw the biggest changes at Aberdeen energy service giant Wood Group in its 40-year-plus history. In February, it... Full Article

Risk focus has never been greater

Effective risk management is playing an increasingly prominent role in the M&A process. Organisations with strong balance sheets are in... Full Article

Activity on the up

Last year was quieter than recent years for mergers and acquisitions activity in the Scottish market, though there was heightened... Full Article

Aberdeen’s future looks rosy

In a macro-economic climate where uncertainty has been one of the few constants since the financial crisis began in 2007,... Full Article

Getting maximum value for shareholders

Before you consider selling your business, ensure that you have a clear understanding of the objectives of each shareholder. Before... Full Article

Year’s activity outstripped expectations

The key driver of merger and acquisition activity in the oil and gas sector is the relative strength or weakness... Full Article

Smaller firms facing buyouts

Junior oil and gas firms could become acquisition targets for their larger rivals this year as tightening credit markets take... Full Article

Rival trumps Weir offer for Ludowici

Scottish engineer Weir Group faces a bidding war for an Australian mining equipment firm after a Danish rival upped its... Full Article

Brent crude dips as investors take profits

Brent oil prices fell yesterday as investors booked profits after gaining for four straight days. April delivery crude was down... Full Article

Bowleven shares race ahead on takeover talk

Middle East energy firm Dragon Oil said today it was mulling a takeover offer for Scottish explorer Bowleven. Edinburgh-based Bowleven’s... Full Article

Weir Group among biggest risers but Melrose Resources down

Further signs of recovery in the US and renewed hopes of a bail-out for Greece helped boost world markets today.... Full Article

Nexen to drill in North Sea

Nexen said yesterday it had an exploration programme planned for 2012 in the UK North Sea. This included participation in... Full Article

Petrofac adds subsea capabilities

International oil and gas facility service provider Petrofac said yesterday it had bought a subsea pipeline and engineering business. Surrey-based... Full Article

The Footsie falls despite good news in US

More positive signs from the US failed to lift London’s leading shares index today as fears over the eurozone and... Full Article

Shell and BP shares among fallers, Wood Group rise

Weak economic growth across the eurozone and reports suggesting Greece may not receive all of its bailout funds saw London’s... Full Article

North Sea output to fall again

North Sea crude oil output from has been predicted to fall in March for a third month this year due... Full Article

Parkmead among fallers

London’s leading shares index struggled to make progress yesterday after weaker-than-expected retail sales in the US overshadowed an upbeat bond... Full Article

Xcite and Parkmead shares up but Faroe among fallers

The London market closed above the 5,900 mark for the first time in more than six months today after a... Full Article

Total set to be North Sea’s second largest producer

Total will become the second largest producer in the UK North Sea, overtaking Shell as it ramps up major projects... Full Article

Operator to spend £15billion this year

Oil major Total said yesterday it was increasing its global capital spending to £15billion in 2012, up from £12.9billion last... Full Article

Xcite shares among risers

World markets slid today after an agreement on crucial austerity measures in Greece fell apart. The FTSE 100 Index fell... Full Article

BG Group, Amec and Petrofac shares among biggest risers

London’s leading shares index crept higher today after Greece took an important step towards avoiding a default and the Bank... Full Article

North Sea ‘still a tax target’

An oil and gas industry analyst yesterday said the industry could still be a taxation target for the chancellor. Douglas-Westwood... Full Article

Amec and Parkmead shares up but Weir Group among fallers

Nerves about whether Greece will stave off default weighed on London’s leading shares index today. The FTSE 100 Index pushed... Full Article

Surge in value of Cosalt shares

Cosalt shares more than doubled in value yesterday in a twist which could put a questionmark over chairman David Ross’s... Full Article

Market comment: Earnings better than rival Shell’s for first time in a year

BP narrowly exceeded earnings expectations in the fourth quarter of 2011, with a 14% rise in adjusted net profits to... Full Article

Energy giant ‘on right path’

BP is on the right path, chief executive Bob Dudley said yesterday when he announced the global oil giant’s annual... Full Article

BP earmarks £1.7billion for North Sea

Oil giant BP will spend £1.7billion on North Sea projects in 2012, the most in a decade, it said yesterday.... Full Article

European offshore rig count down

European offshore rig counts fell in January to 37, compared to 54 in the same month last year and 42... Full Article

Footsie down slightly amid worries for Greece

The FTSE 100 Index slid 1.9 points to 5,890.3 today as uncertainty over the outcome of talks between Greece and... Full Article

Onwards and upwards in Aberdeen

Norwegian financial services group DnB said Aberdeen was a natural point to continue the expansion of its international network. The... Full Article

Share options

Nautical Petroleum said yesterday it had granted 632,500 share options to its directors including 150,000 to chief executive Stephen Jenkins.... Full Article

Xcite renegotiates Bentley drilling contract

Aberdeen-based oil explorer Xcite Energy said today it had made changes to a drilling contract with British American Offshore for... Full Article

Petrofac and BG lead FTSE fallers

London’s leading shares index exploded into life today after US jobs figures smashed expectations and boosted recovery hopes for the... Full Article

Shell signs up for Greenland seismic

Energy giant Shell has launched plans to carry out seismic survey work offshore Greenland as interest increases in the region.... Full Article

New finance boss at OEG

Aberdeen-based OEG Offshore said yesterday it had appointed a new finance director, Tom Boyle. He joins the firm in the... Full Article

TWMA in top 10 for fast growth

Aberdeen-based integrated drilling-waste and environmental service company TWMA has been ranked in the top 10 private-equity-backed firms in the UK.... Full Article

Profits fall at Diamond Diamond Offshore

Drilling, which has a UK operation based in Aberdeen, has reported a fall in annual profits. The world’s fifth largest... Full Article

Cairn India boss cashes in shares

The boss of Cairn India, in which Scottish oil explorer Cairn Energy retains a minority stake after selling much of... Full Article

Footsie spurred on by positive signs in the US

The FTSE 100 Index rose 5.4 points to 5,796.1 today after US Federal Reserve chairman Ben Bernanke said the world’s... Full Article

Banks lead strong gains for FTSE 100

Banking stocks led strong gains on the London market today as optimism surrounding the global economic outlook strengthened. The FTSE... Full Article

Cosalt investors set to vote

Cosalt shareholders are expected to meet soon to decide the company’s future. Investors will vote on chairman David Ross’s plans... Full Article

Banks lead strong gains for FTSE 100

Banking stocks led strong gains on the London market yesterday as optimism surrounding the global economic outlook strengthened. The FTSE... Full Article

Weak US data fails to stop FTSE 100 advance

The FTSE 100 Index closed 10 points higher at 5,681.6 today despite weak economic data from the US. London’s main... Full Article

Centrica ups Statfjord stake with £142million investment

UK operator Centrica said yesterday it had signed a £142million deal to more than double its stake in a North... Full Article

London’s main market hits six-month high

The revival of talks to restructure Greece’s debt mountain helped push the FTSE 100 Index to a fresh six-month high... Full Article

London’s main market hits six-month high

The revival of talks to restructure Greece’s debt mountain helped push the FTSE 100 Index to a fresh six-month high... Full Article

Fears of Greek tragedy weigh on the FTSE 100

Fresh fears that Greece and Portugal will sink under the weight of their debts saw London’s leading shares index fall... Full Article

Xcite plans temporary pipes

Oil explorer Xcite has asked the Department of Energy and Climate Change for permission to install temporary pipelines for work... Full Article

Hunting says profits likely to exceed City predictions

International oil and gas services group Hunting said yesterday profits for 2011 were likely to have exceeded the City’s predictions... Full Article

Further takeover activity on the cards?

Yesterday’s announcement from Ithaca adds fuel to the potential for further takeover activity in the North Sea just weeks after... Full Article

Plans outlined for Fionn field

Valiant Petroleum is expected to submit a field development plan for the Fionn field in the northern North Sea in... Full Article

ENI says Libya output almost back to pre-conflict levels

Italian group Eni's oil output in Libya is almost back to its pre-conflict levels at 260,000 barrels per day (bpd),... Full Article

Fuel boss will face questions on costs

The boss of Scottish Fuels will face islanders’ questions on the cost of fuel at a public meeting in Stornoway... Full Article

Energy firms among big Footsie fallers

London’s leading shares index ended four days of gains today after ongoing talks in Greece over the country’s debt mountain... Full Article

Premier Oil aiming to grow production by 50%

Premier Oil said yesterday it was on course to grow production by around 50% during 2012, in line... Full Article

Aldous/Avaldsnes gets new name

Norway’s giant Aldous/Avaldsnes discovery has been renamed Johan Sverdrup after the leader of a political movement in the country. The... Full Article

New staff intake at Airpac Bukom in Aberdeen

Air and steam equipment rental specialist Airpac Bukom Oilfield Services has made new appointments in Aberdeen. John Rae has been... Full Article

Weir and Xcite shares among fallers despite good day for market

London’s leading shares index closed above the 5,700 mark for the first time in nearly three months today but global... Full Article

Tullow teams up with Shell

Tullow Oil said today it would work with Shell to explore for oil in the Atlantic Ocean. The two firms... Full Article

Swire opens Singapore office

Swire Oilfield Services opened a new regional headquarters in Singapore today. The firm, part of the Swire Group, said it... Full Article

Norway offers out 60 licences

Norway’s Petroleum Directorate (NPD) today offered out 60 new exploration licences on the Norwegian Continental Shelf. They will be offered... Full Article

Plexus raises £6.2million

Plexus Holdings said today it had raised £6.2million in a share placing. The Aberdeen-based oil and gas engineering service business... Full Article

Lundin could cut south Avaldsnes estimates

Lundin Petroleum Norway said today its resource estimates on the southern part of the large Avaldsnes discovery would most likely... Full Article

Premier spuds East Fyne

North Sea operator Premier Oil has started drilling on the East Fyne appraisal well in the central North Sea. Antrim... Full Article

Cairn Energy shares up, but Wood and SSE fall

Reports that Standard & Poor’s will strip France of its AAA credit rating drove falls on world markets today. The... Full Article

Nautical Petroleum shares rise but Xcite and Melrose among fallers

Tesco dragged London’s leading shares index down today after its shares fell 16% following a grim Christmas update and profits... Full Article

Talisman picks Aker for Norwegian work

Aker Solutions has won a three-year frame agreement worth about £94million for work on Talisman Energy's maintenance and modifications projects... Full Article

Cape expects growth in 2012

Energy and mining support services firm Cape said today it expected 2012 to be a year of “significant growth in... Full Article

ConocoPhillips signs up Maersk Resolve

ConocoPhillips has agreed a deal with Maersk Drilling for a jackup rig for drilling in the North Sea. The Maersk... Full Article

Ross extends Cosalt loan until end of June

Engineering business Cosalt said yesterday that a £5million loan provided by chairman David Ross, which was due to expire earlier... Full Article

Energy price war hope as gas bills cut

One of the UK’s big six energy suppliers has announced that it is cutting the price of its tariffs –... Full Article

First oil from Van Ghent well

DANA Petroleum said last night first oil had been achieved on the Van Ghent well on the Dutch continental shelf... Full Article

Wood Group firm to work on Tubular Bells

A subsidiary of Aberdeen’s Wood Group has won a detailed design engineering contract for the topsides and deck of a... Full Article

EnQuest and Petrofac shares rise, Parkmead and Faroe among fallers

Banks helped pull the London market higher today after eurozone debt fears were eased when France escaped a credit rating... Full Article

First deepwater well off Romania

A subsidiary of ExxonMobil and Romanian oil and gas group Petrom has started drilling on the first deepwater exploration well... Full Article

Chairman confident of taking Cosalt off exchange

The chairman of Cosalt said last night he was confident the company would return to private ownership after revealing he... Full Article

EnQuest among risers despite tough day for markets

World markets struggled to make progress today after another meeting on the eurozone debt crisis failed to ease traders’ nerves.... Full Article

Good start to 2012 for EnQuest

Independent oil and gas firm EnQuest today announced a near-£60million deal which will give it a 20% stake in the... Full Article

Trapoil gears up for participation in eight wells in 2012

il and gas explorer Trapoil said today it had sold out of the Premier-operated Lacewing asset for £1million and gave... Full Article

Dong’s £750million bond issue to help North Sea programme

Danish energy firm DONG Energy said today it had successfully issued a £750million bond which would aid its UK North... Full Article

Cove put on the sale block

An AIM-listed oil explorer focused on east Africa has decided to put itself up for sale. The directors of Cove... Full Article

Petrofac and Schlumberger join forces

Oil services giants Petrofac and Schlumberger said today they had joined forces to tap a “significant” market in production services.... Full Article

New chief exec for DeepOcean

Subsea engineering firm DeepOcean Group said today it had appointed a new chief executive to serve from February 1. The... Full Article

Shake-up at drilling firm Archer

Drilling and well-services contractor Archer announced an organisational shake-up and a raft of new appointments today. The firm, previously known... Full Article

Deep water pre-salt find offshore Angola for Maersk

Maersk Oil has said it has made a step towards building a “significant business” offshore Angola after striking pre-salt oil.... Full Article

Weir, BG and EnQuest shares rise on first day of trading

Investors started 2012 with a burst of optimism today as upbeat manufacturing data from all corners of the world triggered... Full Article

Total ploughing £1.4billion into US shale gas

French oil firm Total is investing £1.4billion in the development of US shale gas reserves in Ohio. Total has agreed... Full Article

Rockhopper completes sidetrack well

South Atlantic-focused oil and gas explorer Rockhopper Exploration said today it had successfully completed drilling a sidetrack well in the... Full Article

Petrofac and Amec among Footsie’s biggest risers buts Parkmead, Faroe and Xcite shares fall

The London market closed more than 1% higher today after positive data in the US and a successful bond auction... Full Article

Arctic gas field will be developed, says Total

French oil major Total has said it and partners Gazprom and Statoil are still committed to developing a giant Arctic... Full Article

Greenland seismic planned for 2012

A new 3D seismic survey offshore Greenland is poised to be carried out in 2012 as the hunt for hydrocarbons... Full Article

Noble announces Cyprus gas discovery

US energy firm Noble Energy said today it had made a natural gas discovery on the Block 12 prospect offshore... Full Article

CNOC to pick up Afghan oil contract

Afghanistan’s Ministry of Mines will sign the country’s first oil contract with China’s state-owned National Petroleum Corporation. A spokesman said... Full Article

Ormen Lange plant starts recovery but second storm on way

Norwegian gas flows to the United Kingdom remained choppy today as power began returning to Royal Dutch Shell's Ormen Lange... Full Article

Survival name of the game for Dyce firm

ENERGY industry training centre Survivex is planning to add 15 people to its workforce after a successful first six months.... Full Article

Nautical to buy Nottingham onshore stakes

Oil and gas company Nautical Petroleum has agreed to buy 15% interests in two onshore UK exploration licences from Egdon... Full Article

Active 2012 planned for Bridge Energy

Oil and gas firm Bridge Energy said today it was looking ahead to an active 2012 after buying a 50%... Full Article

Balmoral Group plans to invest in business after robust year

Balmoral Group, the Aberdeen-based diversified engineering firm, said yesterday a “robust” trading performance meant it could invest more in the... Full Article

£5.1m win for Kenny Down Under

ENGINEERING service firm Wood Group Kenny said yesterday it had won a £5.1million contract from energy company Hess to deliver... Full Article

Parkmead and Wood Group shares up on strong day for markets

A successful Spanish bond auction and strong German economic data eased fears over the eurozone crisis and drove world markets... Full Article

Xcite, Nautical and Melrose shares suffer on tough day for markets

Banks dragged London’s leading shares index lower today after Chancellor George Osborne said he would push through plans for a... Full Article

Xcite, Nautical and Melrose shares suffer on tough day for markets

Banks dragged London’s leading shares index lower today after Chancellor George Osborne said he would push through plans for a... Full Article

Parkmead ramps up North Sea holdings

Fast growing oil and gas firm Parkmead Group has announced its second acquisition in just over a month after snapping... Full Article

Payback after firm mis-sold power

THOUSANDS of people in the north and north-east are to be offered compensation if they have been mis-sold contracts by... Full Article

Rockhopper reveals hydrocarbon finds in four fields in the Falklands

Shares in south Atlantic-focused Rockhopper Exploration surged yesterday after it announced hydrocarbon finds in four of its Falklands oil fields.... Full Article

Growing interest in Brazilian oil assets

BG GROUP has been the subject of speculation that Chinese state-controlled oil company Sinopec is interested in buying part of... Full Article

Sinopec is Brazilian favourite

China’s Sinopec has been named as the favourite to buy part of UK oil firm BG Group’s stake in some... Full Article

Tullow hopeful of hitting plateau on Jubilee

UK-listed oil firm Tullow said today it hoped production from its Jubilee oil field off Ghana would reach 120,000 barrels... Full Article

Shares to watch next week

ABERDEEN-BASED Wood Group, which provides engineering design, production support and gas-turbine services to the oil and gas and power-generation industries... Full Article

Premier Oil shares among risers but Wood Group, Amec and BG fall

Banking shares fell sharply today after the European Central Bank dashed hopes it would take a bigger role in tackling... Full Article

Sevan seeks £15.6million in offering

Norwegian floating production specialist Sevan Marine said today it had launched a bid to raise £15.6million on the country’s stock... Full Article

Coalition spares offshore helicopters from paying new tax

The UK Government has confirmed that North Sea energy firms will not be hit with a new levy for sending... Full Article

Weir Group and Premier Oil shares up but Xcite suffers fall

World markets were pegged back today after Standard & Poor’s warned it could downgrade Europe’s bailout fund as well as... Full Article

Call for North Sea oil strategy

WESTMINSTER politicians moved to recognise the North Sea oil and gas industry’s contribution to the UK economy. A motion has... Full Article

Entrepreneurs ‘back in action’

TWO business ventures currently taking shape in the north-east could see some well-known entrepreneurs make a return to the limelight.... Full Article

Xcite and Wood Group shares rise, Centrica suffers fall

The London market capped its strongest weekly performance in nearly three years today after a German call for greater fiscal... Full Article

BG, Wood Group and Petrofac enjoy stocks rise, Xcite and Cairn fall

The London market surged more than 3% today after six central banks including the Bank of England announced a move... Full Article

Wood Group launches Angolan JV with BP contract

Aberdeen energy service giant Wood Group announced its first contract for a new joint-venture in Angola today. Wood Group Kianda... Full Article

Cairn still positive of success off Greenland

Oil and gas explorer Cairn Energy said today it was still confident of success off Greenland despite its 2011 drilling... Full Article

Shares up at EnQuest, Parkmead and Wood Group, but Xcite slides

Investors shrugged off a gloomy autumn statement from Chancellor George Osborne today as optimism over a solution to the eurozone... Full Article

Substantial increase in Senergy’s business

Energy service company Senergy, of Aberdeen, said yesterday it had seen a substantial increase in business, particularly in Europe, the... Full Article

Aberdeen Asset Management gains 4.7%

INVESTORS shrugged off a gloomy economic assessment from the OECD yesterday as optimism surrounding moves to stem the eurozone debt... Full Article

EnerMech wins £1m North Sea contract

Aberdeen mechanical service firm EnerMech said yesterday it had won a £1million North Sea contract with Talisman Energy Norge. EnerMech... Full Article

£64m of low-carbon projects approved

Scottish utility SSE said yesterday it had won approval for low-carbon electricity projects worth £64million. They included a £30million scheme... Full Article

Glasgow office for Xodus

Aberdeen-based energy consultant Xodus Group said yesterday it had invested £1.5million to open a new office in Glasgow. It will... Full Article

Asco is tipped to double in size after £250m sale

INTERNATIONAL oil and gas logistics company Asco has been sold to private equity firm Doughty Hanson in a deal believed... Full Article

Big player’s rise from humble beginnings

ASCO has risen from humble beginnings in a small warehouse in the Granite City to a company with turnover of... Full Article

Island fuel prices set for 5p-a-litre reduction as rebate scheme gets nod

FUEL prices in the Northern and Western Isles will be reduced by 5p a litre from March, the UK Government... Full Article

Consumer champions hail energy bill changes

Consumer groups have welcomed British Gas’s promise to simplify tariffs for “confused, antagonised and alienated” customers who have been “bamboozled”... Full Article

Scots engineer agrees £433m acquisition of Seaboard

Scottish engineer Weir Group said yesterday it had agreed to buy US oil and gas equipment manufacturer Seaboard Holdings for... Full Article

Ofgem to give more protection to businesses

Businesses are to get extra protection from bullying energy suppliers and brokers, according to the industry watchdog. Ofgem vowed yesterday... Full Article

Gap widens between petrol and diesel prices

A big gap has opened up between petrol and diesel prices at the pumps, figures from the AA showed yesterday.... Full Article

Chairman in bid to take Cosalt private

The chairman of engineering firm Cosalt, David Ross, is poised to table a £340,000-plus offer for the company to take... Full Article

Encore Oil and Premier Oil shares rise on tough day for markets

Investors deserted the London market today as fears of a eurozone collapse were fuelled by a worrying rise in Spain’s... Full Article

Amec confident of continued future growth

International engineering and project management firm Amec said today it was confident of continued future growth despite global economic uncertainty.... Full Article

Parkmead shares continue recent rally, Cairn Energy also among risers

A gloomy forecast from the Bank of England compounded fears over the future of the eurozone and further knocked the... Full Article

DEO ups stake in Perth field after Maersk withdrawal

Aberdeen oil firm DEO Petroleum has increased its stake in the North Sea Perth field by 10% after Maersk Oil... Full Article

EnQuest production on target after 20% rise

Oil and gas firm EnQuest today said its production has increased by 20% on last year. The company said its... Full Article

Libyan production increasing faster than expected

Efforts to restore oil production in Libya are progressing faster than anticipated, according to a report by the International Energy... Full Article

MP confident islands will see fuel duty discount by spring

A scheme to reduce the price of fuel sold on the Scottish islands could be in place by the spring,... Full Article

Premier to refocus investment on North Sea

UK-based oil and gas firm Premier Oil said yesterday it would be refocusing on the North Sea after launching two... Full Article

Premier Oil shares rise but Faroe Petroleum suffers fall

Moves by Italy’s premier-designate Mario Monti to form a new cabinet failed to cap the country’s soaring borrowing costs and... Full Article

Shell receives approval to capture raw gas in Iraq

Royal Dutch Shell has received final approval to gather raw gas from three major Iraqi oil fields. The firm said... Full Article

Market responds well to Parkmead acquisition

David Barclay, divisional director of Brewin Dolphin based in Aberdeen, gives his view on today’s acquisition by Parkmead. At the... Full Article

Wood wins £500million of Talisman work

Aberdeen energy services giant Wood Group said today it had landed £500million of contract renewals with Talisman Energy (UK). The... Full Article

Acquisitions by Parkmead and Taqa Bratani

North Sea oil firms Parkmead Group and Taqa Bratani have this morning both announced acquisitions in the basin. Parkmead, led... Full Article

Parkmead and Xcite shares up, EnQuest and Petrofac down

Investors shied away from risk today as the enormity of the task faced by new governments in Italy and Greece... Full Article

Cairn Lanka finds gas in Barracuda

Cairn Energy’s Indian subsidiary said today it had made a gas discovery in the Mannar Basin off Sri Lanka. Through... Full Article

BG Group underlines offshore Brazil potential

BG Group said today the potential of its Brazilian Santos basin discovery had been underlined by a strong well test... Full Article

Energy and mining firms doing well

CAPE supplies and manages industrial scaffolding and insulation, and undertakes cleaning and painting to the offshore and onshore oil and... Full Article

Growing demand leads to city firm opening office in Canada

OIL and gas commissioning and technology specialist qedi said today it had reached another milestone in its rapid global growth... Full Article

Aker picks up £77m Brynhild project

Aker Solutions has signed a £77million contract with Lundin for subsea work on its Brynhild project on the Norwegian continental... Full Article

Xcite tops up its funds

Aberdeen-based oil explorer Xcite Energy today said it was to use £2.5million from an investment facility to help it towards... Full Article

Arctic focus should be on pollution prevention, says PSA

A Norwegian oil and gas industry report into the safety of working in the Arctic Circle has emphasised the needs... Full Article

Sevan sells FPSOs to new partner Teekay

Troubled Norwegian floating production specialist Sevan Marine has agreed to sell some of its vessels to marine firm Teekay. They... Full Article

Energy supplier SSE slips into the red

SSE fell into the red during the six months to September 30, figures from the Perth-based energy supplier showed yesterday.... Full Article

Cape shares slump on warning of weak margins

Shares in energy service firm Cape slumped today after the company warned its third quarter results would be hurt by... Full Article

Aberdeen Asset Management and Cairn among market fallers

Investors deserted the markets today after a jump in Italy’s borrowing costs pushed the country into “bailout territory”. The FTSE... Full Article

Ramp up on Jubilee slower than expected, says Tullow

UK-listed Tullow Oil said today it expected record full year results for 2011 despite slower-than-expected ramp up at its key... Full Article

Rock Solid Images appoints corporate finance advisor

The board of Rock Solid Images (RSI) said the Aberdeen company could be sold after a strategic review of the... Full Article

Profits slump 34% at Maersk group

Danish shipping and oil group Maersk said today sales rose 9% in its third quarter on higher oil prices and... Full Article

Cosalt Offshore wins milestone MCA status

COSALT Offshore said yesterday it had achieved a milestone endorsement from the Maritime and Coastguard Agency (MCA). The company, which... Full Article

Weir to start 2012 with record order book

Scottish engineering group Weir said today it believes it is going to start 2012 with a record order book after... Full Article

Providence ready to drill Barryroe

OIL and gas explorer Providence Resources has said it is due to start drilling offshore the coast of Ireland in... Full Article

First Oil confident of growth targets

Aberdeen energy company First Oil said the UK Government’s £10billion tax raid on the industry had cost it nearly £8million.... Full Article

Suncor triples operating profits

Canadian oil and gas producer Suncor said today its third quarter operating profits nearly tripled aided by high oil prices,... Full Article

Record production for Apache Corp

Higher oil prices helped push up third-quarter profits at US-operator Apache. The oil and gas operator, which announced a £1.1billion... Full Article

Bowleven more convinced than ever on Cameroon

Edinburgh-based oil and gas explorer Bowleven has said it is more convinced than ever of the potential of its west... Full Article

CNR increasing capex in 2012

CANADIAN Natural Resources International (CNR) said today it was boosting investment in Africa after cutting spending in the North Sea... Full Article

Minister defends cuts to subsidies for solar power

ENERGY Secretary Chris Huhne insisted yesterday the UK Government was forced to slash popular solar electricity subsidies to stop domestic... Full Article

EnCore and Premier agree takeover terms

Oil and gas firms EnCore Oil and Premier Oil said today they come to an agreement on the terms over... Full Article

Endeavour focussed on Bacchus, Greater Rochelle and Tudor Rose

Oil and gas firm Endeavour International said today it remained focused on first production on two key North Sea assets.... Full Article

Aker buys well intervention firm X3M

Oilfield engineering service group Aker Solutions is to boost its well intervention business by buying the Middle East based well... Full Article

Activity slumps for Kvaerner

Oil and gas field engineering and construction firm Kvaerner has seen a slump in activity but it said the long-term... Full Article

Sales drop at Marathon Oil

US OIL firm Marathon today posted a rise in third-quarter pre-tax profits to £812million, compared to £644million a year earlier.... Full Article

Record revenues for Baker Hughes

US oilfield service firm Baker Hughes posted record third-quarter revenue of £3.2billion today, up from £2.5billion a year earlier, as... Full Article

Hunting completes £90million trio of acquisitions

Energy services firm Hunting has bought a Houston-based specialist machining firm for £20million. Specialty Supply, the last three recent acquisitions... Full Article

Amec shares rise while Xcite’s fall

Banks led London’s blue chip shares index lower today as investors waited for further details about the eurozone rescue plan.... Full Article

Chevron reports Q3 £8.3billion pre-tax profits

Higher oil and refined products prices help drive sales and profits up oil supermajor Chevron in the third quarter, the... Full Article

Total posts year-on-year rise in profits

French energy giant Total said today its third-quarter results were “stable”, compared with the previous three months despite a weaker... Full Article

Desire confirms its belief in Falklands prospects

Oil and gas explorer Desire Petroleum has said its faith in the potential of its Falklands acreage was confirmed by... Full Article

Statoil: production, profits and revenues up

Norwegian oil firm Statoil today bucked declining production trends, posting a 14% increase in its output in the third quarter.... Full Article

Technip eyes more opportunities as profits keep rising

The high oil price is driving upstream investments in the energy sector, the boss of a major engineering and construction... Full Article

Shell reports 133% rise in profits

Oil giant Royal Dutch Shell said today higher oil prices and its own performance helped it to more than double... Full Article

EnQuest and Aberdeen Asset Management rise, Premier Oil falls

The London market made small gains today as traders waited for the details of a eurozone rescue plan expected to... Full Article

ConocoPhillips benefits from higher oil prices

US oil and gas group ConocoPhillips said today the UK Government’s North Sea tax grab had cost it an additional... Full Article

New CEO at Taqa

The parent company of UK oil and gas firm Taqa Bratani has appointed a new chief executive. Carl Sheldon is... Full Article

BP boss says oil and gas giant safer and stronger after Macondo

BP boss Bob Dudley said today the oil giant had reached a clear turning point after announcing quarterly pre-tax profits... Full Article

Economic slowdown hits smaller oil firms

AN INCREASING number of deals involving smaller oil and gas companies has been predicted by Ernst & Young. This comes... Full Article

Energy giants to report results

LOWER oil prices in recent months could see profits at the world’s largest energy companies dented as they reveal their... Full Article

Schlumberger positive despite global financial turmoil

OILFIELD service giant Schlumberger yesterday said its third-quarter turnover rose 49% to £6.4billion compared with the same period in 2010.... Full Article

Ithaca reveals £1bn plan for Greater Stella area

BRITISH oil explorer Ithaca Energy agreed a plan to develop a key North Sea oil field, in a move which... Full Article

Petrofac predicts profits

INTERNATIONAL oil and gas facility service provider Petrofac today predicted at least 15% growth in like-for-like profits for the full... Full Article

Cairn’s India deal due “shortly”

Edinburgh-based oil firm Cairn Energy said today it expected a long-delayed deal to sell a stake in its Indian business... Full Article

The history of the Nigg yard

1971 – Nigg fabrication yard established by Brown and Root (now KBR) and construction firm George Wimpey. At its height... Full Article

Ranger becomes North Sea Energy

North Sea oil and gas explorer Ranger Exploration is now trading as North Sea Energy after being taken over. North... Full Article

Cosalt shares plummet after warning

OIL and gas industry firm Cosalt saw its shares plummet 57% to just 0.7p yesterday after it said full-year trading... Full Article

Production delay at Skarv dents Statoil shares

Shares in Norwegian oil firm Statoil fell 1.9% today after it was announced there would be a further delay to... Full Article

Bowleven after more cash

Edinburgh-based oil and gas exploration group Bowleven announced today it could raise £76million on the stock market to help it... Full Article

£2.4million Hub development on the way for Aberdeen

A new £2.4million Hub development to support Aberdeen and Scotland’s leading position in developing global energy technology is on schedule... Full Article

Plexus Holdings technology could save millions

An Aberdeen oil and gas engineering and services firm said yesterday it was working on technology which would save the... Full Article

Butch gives Faroe a boost

Shares in Faroe Petroleum rose 7% yesterday after the firm said light oil had been found in the Norwegian North... Full Article

Arab Spring disruption

The Arab Spring has disrupted investment plans in oil and gas projects as some governments in the region have shifted... Full Article

Butch gives Faroe a boost

Elaine Maslin Shares in Faroe Petroleum rose yesterday after the firm said light oil had been found in the Norwegian... Full Article

Plexus Holdings technology could save millions

An Aberdeen oil and gas engineering and services firm said yesterday it was working on technology which would save the... Full Article

Xcite and Faroe close up – Cairn and Wood Group fall

INVESTORS lost confidence in the prospect of a speedy resolution to the eurozone debt crisis yesterday, causing Britain’s leading share... Full Article

Nautical excited about North Sea finds

OIL and gas explorer Nautical Petroleum said yesterday that 2012 would be transformational for the company as it moved to... Full Article

Business Growth Fund names regional director for Scotland

THE Business Growth Fund (BGF), established to help Britain's fast growing smaller and medium sized businesses, said Simon Munro was... Full Article

Iraq move for Taqa

Abu Dhabi’s national energy company Taqa is to buy nearly 20% of a Calgary-based firm focused on Iraq. Taqa, whose... Full Article

Record third-quarter results for Halliburton

US oilfield services firm Halliburton today posted record revenues and profits, led by strong growth in North America. Total revenue... Full Article

Business Growth Fund names regional director for Scotland

The Business Growth Fund (BGF), established to help Britain's fast growing smaller and medium sized businesses, said Simon Munro was... Full Article

Crane deal for city company

ABERDEEN company EnerMech has landed a multimillion-pound crane maintenance contract from Maersk Oil North Sea UK. The deal covers the... Full Article

Ithaca to list on Toronto Stock Exchange

Ithaca Energy has received conditional approval to list its shares on the Toronto Stock Exchange. Final approval of the listing... Full Article

New Falklands prospect similar to Sea Lion

Falklands explorer Argos Resources said today it had identified “considerable additional prospectivity” on its North Falkland Basin licence. This included... Full Article

Bowleven shares soar on west Africa news

Shares in Edinburgh-based oil and gas exploration group Bowleven rose 40% today after the firm said its offshore west Africa... Full Article

Brazil deal ‘worth millions’ to Aberdeen oil service company

ABERDEEN oil service firm Flexlife, a specialist in subsea project and integrity management, announced its biggest deal to date yesterday.... Full Article

Fairfield agrees sale of Staffa block to Iona

FAIRFIELD Energy, of Aberdeen, said yesterday it was selling the UK North Sea block containing the dormant Staffa field. Canadian... Full Article

Asco US bid talk

US-BASED private-equity group AEA Investors, which counts former BP chief executive Tony Hayward among its advisers, was reported yesterday to... Full Article

Rockhopper’s Desire to up Falklands stake

Falklands oil and gas explorer Rockhopper Exploration is to boost its holdings in the region by agreeing a farm-in with... Full Article

Largest number of oil and gas fields being developed in the UK North Sea in 16 years

The largest number of oil and gas fields are being developed in the UK North Sea in 16 years but... Full Article

North east an incubator for new companies

GROWTH capital investor Lime Rock Partners believes the oil and gas sector in Europe has a secure future and it... Full Article

Xodus reveals leap in profits

Aberdeen-based engineering consultant Xodus Group made pre-tax profits of just over £5million last year, a big jump on the previous... Full Article

Providence trebles Dragon resources estimate

Oil and gas explorer Providence Resources today trebled its estimate of potential has resources at its Dragon prospect in south... Full Article

EnCore prime catch for Premier

NORTH Sea explorer Premier Oil said yesterday it was buying smaller rival EnCore Oil in a £221million deal. Premier said... Full Article

Bosses have strong exploration track record

THE sale of EnCore Oil would not be the first taste of North Sea success for the firm’s founding directors.... Full Article

Supermarket giant cuts fuel prices

A supermarket giant has decided to cut the price of fuel by up to 2p a litre. Asda said motorists... Full Article

MP invites fuel boss to discuss prices

THE boss of a fuel firm has been invited to the Western Isles to discuss concerns about prices. Tony Stewart,... Full Article

Demand for action as power bills continue to go up

Energy companies and consumer groups are being urged to take action to minimise the impact of power bill rises on... Full Article

Smart Metering confident of growth

Scottish gas service firm Smart Metering Systems said yesterday it was confident of further growth after profits more than doubled.... Full Article

Petrofac in Middle East joint venture

International oil and gas facilities service provider Petrofac has announced a joint venture based in the Middle East. It is... Full Article

Chinese set their sights on BG Group

CHINESE predators are said to be circling the Brazilian assets of energy company BG Group. It is thought a state-owned... Full Article

Statoil on a four-strong fast track

Norwegian energy giant Statoil has been given approval to go ahead with its plans to develop its Stjerne and Vigdis... Full Article

GDF Suez may sell stakes to Eni

French energy giant GDF Suez could sell stakes in some North Sea assets to Eni, chief executive Gerard Mestrallet said... Full Article

Lending out to North Sea operators

General Electric (GE) Energy Financial Services said yesterday it had launched a lending programme for North Sea operators. The firm... Full Article

Anger at soaring cost of gas and fuel

CONSUMERS were dealt a double blow yesterday – with a huge price rise in gas and petrol-pump costs continuing at... Full Article

Chancellor urged by MP to postpone 3p fuel duty increase in January

CHANCELLOR George Osborne was urged last night to follow the expected 5p-a-litre cut in fuel duty in the isles with... Full Article

Chance to get involved in Iraq energy sector

A new initiative to help north-east energy companies explore business opportunities in Iraq has been announced by Aberdeen City Council.... Full Article

Cut-price fuel for the isles could be just weeks away

The European Commission has paved the way for the UK Government to launch a cut-price fuel scheme for... Full Article

Desire reviewing financing options to restart Falklands drilling

Shares in oil and gas explorer Desire Petroleum fell 11% to 19p today after it said it was continuing to... Full Article

Energy giant investors look to ‘reassuring’ future

ENERGY giant Centrica hosted a presentation to investors on its British Gas unit and the Sunday Telegraph said the... Full Article

Footsie shares ends the week deep in the red

London’s leading index ended another volatile week deep in the red again as Britain’s biggest banks wobbled ahead of a... Full Article

Barclays Corporate funds £782million of energy deals

Barclays Corporate oil and gas team announced today it had provided funding for global energy deals amounting to £782million so... Full Article

Industry news

THE deepening of the eurozone crisis and fears for the US economy sent world stock markets into retreat in late... Full Article

Mob mentality rules

EVENTS in global equity markets at the beginning of last month paralleled those on the streets of England’s major cities.... Full Article

Has SDI got investment priorities wrong?

SCOTTISH Development International (SDI) is looking to hire a specialist to deliver thought leadership seminars. SDI’s objective is to sharpen... Full Article

EnQuest drops production target for 2011

Oil and gas firm EnQuest has dropped its 2011 production target after disappointments on two northern North Sea wells that... Full Article

Weir, Melrose and Aberdeen Asset Management gain FTSE 100

THE FTSE 100 index continued its rebound yesterday as positive job and manufacturing data from America caused a last-minute push... Full Article

Asco wins £1.1m Statoil pipeline deal

OIL and gas logistics firm Asco has won a £1.1million contract with Statoil for work related to its Gudrun development... Full Article

Cosalt geared-up and ready for a fresh start

COSALT said yesterday it was ready for a fresh start after clearing most of its debts and recruiting a new... Full Article

Plexus extends deal with Transocean subsidiary

ABERDEEN oil and gas engineering service firm Plexus Holdings has said it has agreed a £2million framework deal with a... Full Article

Valiant to push ahead with Causeway development

VALIANT Petroleum said yesterday the next 18 months had the potential to create a “step change” for the business as... Full Article

BP completes £4.4bn energy deal in India

BP has completed its £4.42billion acquisition of a 30% stake in 21 oil and gas production sharing contracts operated by... Full Article

ExxonMobil in deal with Russia’s Rosneft

Russia’s Rosneft and US oil major ExxonMobil today signed a strategic deal to jointly develop oil in the Russian Arctic.... Full Article

Costs of UK North Sea project soar again

TROUBLED Norwegian floating production specialist Sevan Marine said yesterday costs had increased again on a project for E.On Ruhrgas in... Full Article

Production slump ‘not major setback’

ITHACA Energy said yesterday a slump in production which helped to halve sales was disappointing, but had not set the... Full Article

Blackrock up holdings in Wood Group

A global asset-management fund has upped its holdings in energy service firm Wood Group to 18.02%. Blackrock, the largest shareholder... Full Article

Amec seeing resurgence of activity in North Sea sector

INTERNATIONAL engineering and project-management company Amec has seen a resurgence in activity in the North Sea. Despite falling production from... Full Article

Asco looking for new investment

INTERNATIONAL oil and gas logistics group Asco is looking for new investment so it can double the size of the... Full Article

Wood Group’s profits soar 49%

ENERGY service giant Wood Group is to continue looking at future acquisitions after posting a near-50% jump in profits in... Full Article

Offshore oil arm a strong performer for James Fisher

MARINE service group James Fisher and Sons said yesterday its offshore oil business grew profits by 26% during the first... Full Article

OEG Offshore reveals wins worth £1.3m

OFFSHORE container and module manufacturer OEG Offshore said yesterday it had been awarded contracts worth £1.3million with Schlumberger, Schilling Robotic,... Full Article

Oil giant signs £900m loan

RUSSIAN oil producer TNK-BP said yesterday it signed a £900million-plus loan with a group of 10 international banks for general... Full Article

AMEC to post half-year results

BY STEVEN McKAY AMEC, one of the world’s leading engineering, project-management and consultancy companies, posts its half-year results on Thursday.... Full Article

Petrofac pouring £303m into Mexican assets

PETROFAC has announced a £300million-plus investment in Mexico after state oil monopoly Pemex awarded its first oilfield operating contracts. Petrofac,... Full Article

Rock Solid contract win in central Africa

ABERDEEN company Rock Solid Images (RSI), formerly Offshore Hydrocarbon Mapping has won a £242,000 contract for seismic work in Equatorial... Full Article

Subsea 7 to sell vessel to GSP

SUBSEA 7 is to sell pipelay vessel Acergy Falcon to Romanian oil and gas service company GSP. The Office of... Full Article

Melrose cuts production estimates for second time

OIL and gas explorer Melrose Resources has reduced its full-year production estimate for a second time this year after setbacks... Full Article

Sigma takes over firm from West Coast

SCOTTISH asset-management firm Sigma Capital Group said yesterday it had acquired urban-regeneration specialist Inpartnership from West Coast Capital (WCC) –... Full Article

Hunting to buy another US business

UK ENERGY service group Hunting said yesterday it was to buy a US-based machining company for more than £50million just... Full Article

Oil boosted by euro debt-crisis hopes

Oil rose yesterday, supported by hopes European leaders will come up with solutions to the region's debt crisis and by... Full Article

Triple contract celebration for designers

A NORTH-EAST design and manufacturing company is celebrating a hat-trick of deals. MSD Design, based at Altens, Aberdeen, landed a... Full Article

Aker results ‘dented by operational issues’

SHARES in oil field engineering service group Aker Solutions fell more than 5% in Oslo yesterday after second-quarter earnings were... Full Article

Shell buys back £18m of shares

OIL supermajor Royal Dutch Shell said yesterday it had bought back more than £18million of its own shares. The UK-Dutch... Full Article

‘More of the same’ as EnQuest production and revenue soar

ENQUEST said yesterday it would not be taking its foot off the ball after posting a 35% rise in production... Full Article

Nautical jumps on latest Kraken update

SHARES in North Sea energy firm Nautical Petroleum were up more than 15% yesterday after the company made an “excellent... Full Article

Plexus enters well-head agreement with Senergy

ABERDEEN-based oil and gas engineering service firm Plexus Holdings has entered an agreement with Senergy to provide wellhead engineering to... Full Article

Serica in talks with other parties after gas deal stalls

OIL and gas group Serica Energy said yesterday it was talking to other potential buyers of its Kambuna gas field... Full Article

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.... Full Article

TAQA profits surge to £219m

Investment of more than £250million in the UK North Sea helped to boost production, Abu Dhabi’s national energy company said... Full Article

£1.7m GDF win highlights benefits of Plexus system

PLEXUS Holdings, of Aberdeen, said yesterday it had signed a contract with Gaz de France Suez E&P worth about £1.7million.... Full Article

Hunting snaps up US well specialist

ENERGY service group Hunting said yesterday it would buy a US well specialist for £475million and that more acquisitions were... Full Article

CNR counts cost of extra North Sea tax

CANADIAN Natural Resources (CNR) has reiterated its reduced activities in the North Sea as a result of the UK Government’s... Full Article

US oil and gas group reveals record revenue

US OIL and gas explorer and producer Apache posted record second-quarter revenue yesterday as a result of high oil prices... Full Article

Brinded nets £1.4m under share plan

Oil and gas giant Royal Dutch Shell said yesterday that executive director Malcolm Brinded, the former managing director of Shell... Full Article

TGS to carry out survey

NORWEGIAN geoscience firm TGS is to carry out a 3D seismic survey over 1,553 square miles west of Shetland. The... Full Article

Vedanta get go-ahead on Cairn deal

Mining firm Vedanta Resources said yesterday it had been given the go-ahead to acquire a majority stake in Cairn India.... Full Article

Oil & Gas investment fund secures £50m

Oil and gas service investment fund Epi-V has secured £50million of capital from mid-market private equity firm LDC, taking the... Full Article

Siemens hit by nuclear venture break-up

GERMAN industrial-machinery manufacturer Siemens – which has a gas-turbine service centre in Aberdeen – saw net profits fall sharply during... Full Article

OEG awarded £100K contract

Offshore container manufacturer and supplier OEG Offshore (OEG), of Aberdeen, has been awarded a £100,000 contract to provide containers for... Full Article

Shell reports sharp rise in profits

Oil giant Royal Dutch Shell became the latest energy major to report a sharp increase in second-quarter profits on the... Full Article

Tullow double Ghana market

Tullow Oil completed its first day trading on Ghana’s Stock Exchange yesterday, more than doubling the entire market capitalisation of... Full Article

Sterling Resources to raise £31.5m

Oil and gas firm Sterling Resources said yesterday it was to raise up to £31.5million through a share issue. Sterling,... Full Article

Huge profit leap for Cairn Energy India

Scottish oil firm Cairn Energy’s Indian subsidiary has reported a near-ninefold jump in quarterly profits after output climbed. Cairn India... Full Article

Xcite hails progress on Bentley

OIL explorer Xcite said yesterday it had seen important progress on its plans for the development of the UK North... Full Article

US giant’s quarterly profits jump

US OIL giant Chevron posted a 43% jump in quarterly profits yesterday on the back of higher prices for crude... Full Article

Technip raises outlook as oil and gas firms boost budgets

ENERGY service group Technip raised its full-year outlook yesterday, saying it had benefited from increased spending by oil and gas... Full Article

Profits up but Talisman trims production estimates

TALISMAN Energy reported increased profits but revised down its annual production estimate yesterday as it revealed the UK North Sea... Full Article

BG unfazed by near-£200m hit from North Sea tax raid

Oil and gas operator BG Group yesterday revealed a near-£200million tax hit as a result of this year’s controversial North... Full Article

BP boss sees need for ‘realistic patience’

BP CHIEF executive Bob Dudley said there was a need for realistic patience after the oil and gas giant struggled... Full Article

Sterling hails approval for £400m Breagh gas project

Banchory-based Sterling Resources has been given official approval to develop its first large-scale venture, marking a major milestone in the... Full Article

BP to announce second-quarter results

OIL major BP will announce its second-quarter results on Tuesday. More than a year ago, the company hit the headlines... Full Article

Oil major pouring £3bn into fields

Oil major BP announced a £3billion redevelopment of the Schiehallion and Loyal fields west of Shetland yesterday. Chief executive Bob... Full Article

Reservoir adds Canada Tech expertise

OILFIELD service firm Reservoir Group said yesterday it had bought the tool-manufacturing division of Canadian firm Iroc Energy Services in... Full Article

Oil major pouring £3bn into fields

Oil major BP announced a £3billion redevelopment of the Schiehallion and Loyal fields west of Shetland yesterday. Chief executive Bob... Full Article

Mature North Sea basin ‘needs fiscal stability’

BP’S ANNOUNCEMENT is a vote of confidence for the North Sea, especially as other key players are expected to reveal... Full Article

Multimillion-pound award for Petrofac’s OEO unit

INTERNATIONAL oil and gas facility service provider Petrofac said yesterday it had won a multimillion-pound deal. The group’s Offshore Engineering... Full Article

Premier Oil expecting output to ramp-up

Premier Oil said yesterday it expected a big jump in daily production to about 60,000 barrels by the year-end. This... Full Article