Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Ryan Crighton

Press and Journal Business Editor
Oil & Gas

Taqa to review staff numbers

Profits have jumped by more than 200% at oil giant TAQA thanks to record production in the North Sea. Figures published by the Abu Dhabi-owned firm yesterday revealed that pre-tax profits topped £282million in the first half of the year – up from £85million at the same time last year. The huge increase is partly down to the first full year of production from the Harding platform. But the firm has also cut 100 jobs over the past year – and said yesterday it would continue to review staff numbers in Aberdeen, despite the turnaround.


BP’s Iain Conn to take the reins at Centrica

British Gas owner Centrica has hired BP director Iain Conn on a £925,000 salary for one of the most politically sensitive jobs in UK industry. Mr Conn, who has been boss of BP’s downstream refining and marketing division, will succeed Sam Laidlaw as chief executive at a time of anger over energy prices and the launch of a full-scale competition probe into the sector. The new boss is being paid slightly less than Mr Laidlaw’s £950,000 but has been awarded shares equivalent to a year’s salary, dependent on performance in his first year in charge. A second incentive scheme worth two times salary is due to be released in 2018. Mr Laidlaw, who is due to stand down at the end of the year, has been in charge of Centrica since 2006. The company said in that time he has invested £1.70 for every £1 of profit earned, while revenues have increased from £13 billion in 2005 to £27 billion last year. Mr Conn has been responsible for running BP’s customer-facing activities in the fuels, lubricants and petrochemicals sectors. This includes 18,000 service stations in 70 countries, serving around 12 million customers every day. He has been a board member of BP since 2004 and has previously held a number of senior roles in trading, exploration and production, and management of corporate functions such as safety and human resources. Centrica chairman Rick Haythornthwaite paid tribute to Mr Laidlaw for “exceptional leadership” over the past eight years. He added: “Under his stewardship Centrica has achieved strength and scale which is of great benefit to the UK as we secure the future energy needs of our customers in an increasingly international gas market.” Mr Haythornthwaite said Mr Conn brought an impressive combination of experience: “He heads a global consumer brand familiar to millions of people and he also possesses a deep understanding of the energy sector built up over a lifetime in the industry. “His breadth of knowledge and commitment to customers and safety make him ideally suited to lead Centrica in the next phase of its development.” Centrica said it was planning for shareholders to vote on a simpler incentive scheme for its executive directors at next year’s AGM, including a lower maximum potential payout than in the current policy. Other recent changes at the top of Centrica have seen finance director Nick Luff and British Gas boss Chris Weston both announcing their departures.