Shares of UK-listed oil field services companies slumped dramatically yesterday over concerns linked to bribery, corruption and money laundering emerged.
Oil prices fell about 4% on Thursday, on track for their biggest daily drop in three weeks, after Opec's decision to extend production curbs fell short of expectations of deeper or longer cuts.
Petrochemical giant Ineos is growing its North Sea oil and gas empire with the $1.3billion (£1billion) buy-up of Dong Energy's assets - and there could be more deals on the horizon.
Aberdeen’s Wood Group has snapped up a piece of Detroit’s motor city as it branches into new markets and builds on its automation and control capabilities.
The boss of Brazil's oil and gas giant Petrobras will join an august panel of speakers at the annual Offshore Europe event in September.
A study of transactions demonstrating collaboration between Scottish SMEs and large organisations over the last four years revealed 347 deals exceeding £4billion, new data has revealed.
A record number of projects backed by foreign investors last year has revealed a change in fortunes for the north east, a new report has found.
Aberdeen-headquartered Sentinel Marine has taken delivery of a new emergency response and rescue vessel (ERRV) which will see 24 new jobs being created within its North Sea operation.
An acquisitive Aberdeen oil and gas group which is building a portfolio of cost-cutting technology and services has added another venture it its fold.
A newly-launched NKT cable laying vessel docked in Aberdeen Harbour ahead if its maiden project to install two subsea power cables connecting Caithness to Moray.
Cairn Energy shares rose after revealing an appraisal well offshore Senegal confirmed “good connectivity” to another site drilled by the firm. The Edinburgh-based exploration and production firm said the results meant it was now on track to submit a development plan for the field to the Senegal government next year.
Engineering services specialist EnerMech has won its first contract to provide crane personnel in Malaysia.
Bosses of former oil and gas company Ithaca Energy revealed plans to raise $50million (£38.6million) in a flotation on AIM.
The north-east’s biggest and most exciting events celebrating the region’s energy sector has been refreshed for 2017, in a new location and with added dazzle.
More than 64,700 attendees gathered at the annual Offshore Technology Conference (OTC) in Houston last week, a lower number than the 68,000 in 2016.
The coal sector benefits from £356million in subsidies a year in the UK despite the Government’s pledge to phase out use of the highly-polluting fossil fuel, a report suggests.
EnerQuip of Aberdeen is six months into its first year of a new business division which is predicted to drive significant growth for the firm.
The results of the Energy Voice sector survey #Oil17: New World Order unveiled in Houston yesterday highlighted that there is no room for complacency in the industry is it recovers from the downturn.
The global oil and gas industry will need to adjust to “lower forever” hydrocarbon prices, an audience at the third annual Energy Voice OTC panel debate breakfast heard in Houston yesterday.
A Scottish technology company has unveiled further developments of a system designed to bring disruptive use of technology like that of Uber and AirBnB to the offshore oil and gas logistics sector.
The editor of the Press and Journal's leading monthly publication Energy, was handed the honour of having 1 May being named "Jeremy Cresswell day" in Houston.
An offshore corrosion specialist has won a £1.5million contract in Norway creating seven jobs.
Confidence in oil price recovery is still fragile, but almost half of respondents to the Energy Voice sector survey #Oil17: New World Order see investment in new technology as key to the future of the industry.
Wood Group has appointed a US-based executive to lead the integration of its £2.2billion mega-merger with Amec Foster Wheeler.
Balmoral Group has hailed an “industry first” as its subsea test centre carved deep into Aberdeen’s granite terrain nears completion. A second pressure vessel - thought to be the largest in Europe - will be installed at the Balmoral Subsea Test Centre this summer. Supported by bespoke software, the test centre offers Balmoral and external clients the ability to monitor procedures from anywhere in the world. When complete the facility will offer close to 20 test vessels in total. A smaller tank measuring 6ft x 23ft was installed in February, while the larger pressure test vessel which is nearing completion will measure 8ft x 29.5ft. Jim Milne, chairman and managing director of Balmoral said: “These new additions complement the wide range of test vessels that were previously available for third party use. “The facility offers a comprehensive range of hydrostatic and mechanical test procedures supported by bespoke software that allows remote monitoring from anywhere in the world, an industry ‘first’.” In another industry first, the firm has installed an elastomer manufacturing facility to produce 46ft polyurethane bend stiffeners that are used to add support to flexible pipes, umbilicals and cables. Balmoral has developed polyurethane using only ‘safe’ polymers that avoid the use of highly toxic materials, Balmoral’s technical team addressed the health and safety aspects of the industry by qualifying only ‘safe’ polymers that avoid the use of highly toxic materials and accredited by Bureau Veritas. Fraser Milne, projects and engineering director at Balmoral Offshore Engineering, said: “Our new manufacturing facility will increase production capacity to meet market demands for this product. “Balmoral products are put to the test in some of the toughest conditions in the industry. With much of our SURF-related products carrying BV certification to API standards, and a global track record that is second to none, clients can rest assured they are receiving not only the best product solution on the market but also the best possible technical advice available.” Jim Milne said it was great to bring news of the company’s multi-million pound investment to OTC: “While the industry is consolidating for the future we have taken the opportunity to invest in our people and our technology. “We are always seeking to maintain our competitive advantage in the market place and our commitment to technological improvement goes a long way towards that.”