Mark Lammey

Business reporter at the P&J. Formerly online editor and deputy business editor at The Moscow Times.
Oil & Gas

Sir Ian Wood tells new North-east taskforce for employment to set the standard for Scotland

17/06/2015

The north-east can carry the torch for Scotland in the crusade to reduce unemployment among the country’s young people, Sir Ian Wood told the region’s fledgling jobs taskforce yesterday. Sir Ian, the former chairman of energy giant Wood Group, said the area was in far better position than other parts of Scotland to meet ambitious employment targets put forward last year in his commission’s report into youth joblessness. He added: “We are very lucky in this part of Scotland. In terms of prospects, we have got a whole bunch of youngsters, whether we call them technicians or tradesmen, who are 25 to 30 years old and they’re earning up to £50,000 a year.

Oil & Gas

China’s Sinopec hunting U.S. shale deals, but prices high

16/06/2015

Sinopec, the world's second-biggest oil refiner, is on the hunt for minority investments in U.S. shale oil and gas projects as it seeks to diversify China's supply sources, a senior company official said. The Chinese state energy firm is keen to take a 10-15 percent stake in projects to export liquefied natural gas (LNG), said Jack Yu, managing director of Sinopec D.C., which handles government relations in the U.S. Previous talks over investing in Freeport LNG's project in Texas fell through, he said. New deals, if they materialize, would come more than two years after Sinopec made waves with two big U.S. investments, spending more than $3 billion buying various shale stakes from Devon Energy and Chesapeake Energy.

Oil & Gas

Shell-BG $70 bln deal crosses key milestone with U.S. clearance

16/06/2015

U.S. regulators have given the green light for Royal Dutch Shell's proposed $70 billion acquisition of British rival BG Group, the first clearance for the biggest deal in the energy sector in over a decade. The two companies said on Tuesday the United States Federal Trade Commission (FTC) had cleared the deal. The deal, which the companies aim to complete by early 2016, will require further regulatory clearances from all the countries BG operates in, including the European Union, China, Australia and Brazil.

Oil & Gas

Job losses in UK’s North Sea raise skills and safety concerns

16/06/2015

Cost-cutting in Britain's North Sea oil and gas sector could lead to more acute skills shortages in future, industry experts have warned, with some expressing concerns that safety could be compromised. A plunge in crude prices over the last 12 months has prompted oil majors such as Royal Dutch Shell, BP, Chevron and ConocoPhillips to lay off hundreds of workers. Oil field services groups such as Amec Foster Wheeler, Wood Group and Petrofac are also in consultation with employees over job cuts.

Oil & Gas

Total restarts La Mede refinery after strike

15/06/2015

French oil major Total said on Monday it had begun procedures to restart its La Mede refinery near Marseille, which management had decided to halt after the CGT union called a strike against plans to stop crude processing.

Oil & Gas

Big Oil saves Putin’s top investor show, again

15/06/2015

Some of the world's most powerful oil executives will attend Russia's top investment show this week, once again helping the organisers shrug off a meagre turnout from other leading Western industrialists and bankers.

Oil & Gas

Cairn India seeks to export oil despite ban

10/06/2015

Cairn India is thought to have invited initial bids for exports of its oil from the desert state of Rajasthan, despite a government ban on overseas sales of locally-produced crude.

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