Maritime Developments clinches £5m funding boost
North-east energy service firm Maritime Developments has secured £5.25 million worth of backing from an “alternative lender”.
North-east energy service firm Maritime Developments has secured £5.25 million worth of backing from an “alternative lender”.
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers.
Oil rebounded from its worst loss since 1991 on speculation that potential U.S. tax cuts may shield the market against the coronavirus and a price feud between major producers.
US-based Vaalco Energy reported net income of $2.6 million for 2019 from production of 3,476 barrels per day in Gabon.
Oil and gas firm Neptune Energy has appointed a new UK managing director, based in Aberdeen.
SDX Energy has made a heavy oil discovery at its Rabul-3 well in Egypt, with plans to bring this into production later this month.
Aberdeen-headquartered energy services firm Wood has reported a profit jump in its full year results for 2019.
A price war between two of the world’s biggest oil producers has sparked one of the worst crude routs in decades, putting companies under “huge pressure” and threatening “brutal” cost cuts.
Scottish operator Cairn Energy has continued its drive for profit with positive full year results for 2019.
Oil and gas company Rockrose Energy has announced the completion of the first of two infill development wells at West Brae.
The Health and Safety Executive (HSE) has launched an inquiry after a crane collapsed on a second Valaris oil rig within a month of each other.
Saudi Arabia escalated its oil price war with Russia on Tuesday, with its state-owned company pledging to supply a record 12.3 million barrels a day next month, a massive production hike to flood the market.
French oilfield services firm TechnipFMC has announced a multi-million pound deal with BP in Angola.
Petronas is considering selling its stake in a joint project in Chad with ExxonMobil, according to people familiar with the matter.
Workers have voted “emphatically” in favour of strike action at the Sullom Voe terminal in Shetland.
A House of Lords investigation into upcoming IR35 reforms has been told that additional guidance is needed on employment definitions in the UK.
Babcock’s Offshore business has secured a new five-year shared contract with three oil and gas operators for helicopter transport in the northern North Sea.
Sonatrach and Eni Algeria Production have signed an agreement on the marketing of dry gas from the Zemoul El Kbar licence, until 2042.
Oil price falls below $40 per barrel spell problems throughout the industry, with companies and countries alike facing tough times.
A team of petroleum engineering students from the University of Aberdeen has made it to the world finals of the annual PetroBowl competition organised by the Society of Petroleum Engineers (SPE).
Petrol prices across the country could fall by up to 10p if the cost of oil continues to stay low, experts have said.
Oil shares were decimated in London this morning after a crude price war erupted between Saudi Arabia and Russia.
Dubai-based Shelf Drilling has signed a one-year extension for its Trident 16 jack-up in Egypt.
Oil markets crashed more than 30% this morning after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences.
Serica Energy has restarted its Bruce platform after a five-week shutdown following the discovery that an underwater structure had become “deteriorated”.