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 oil and gas tax grab.
Markets
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 and record production, the firm said.
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 Expro in Aberdeen, had received £1.4million under its restricted share plan. It said he had received 62,857 ordinary B shares in cash.
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.
Vedanta go-ahead for Cairn India deal
Mining firm Vedanta Resources said yesterday it had been given the go-ahead to acquire a majority stake in Cairn India.
Oil and 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 total amount raised by the team to £110million.
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 Sea Bentley field during the second quarter.
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 and refined products.
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 the three months to June 30.
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 worldwide use for American deepwater drilling contractor Diamond Offshore.
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 back of high oil prices.
Technip raises outlook as firms boost budgets
ENERGY service group Technip raised its full-year outlook yesterday, saying it had benefited from increased spending by oil and gas companies to tap new reserves.
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 tax rise would cost it £25million.
Tullow starts trading on African exchange
Tullow Oil completed its first day trading on Ghana's Stock Exchange yesterday, more than doubling the entire market capitalisation of the exchange.
Sterling looking to raise further funds
Oil and gas firm Sterling Resources said yesterday it was to raise up to £31.5million through a share issue.
Profits surge by 869% at Cairn’s Indian subsidiary
Scottish oil firm Cairn Energy's Indian subsidiary has reported a near-ninefold jump in quarterly profits after output climbed.
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 Sea tax grab.
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 to impress investors with its long-term plans yesterday.
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 oil and gas explorer's growth.
BP to announce second-quarter results
OIL major BP will announce its second-quarter results on Tuesday.
Petrofac to report positive results
PETROFAC, the global oil and gas engineering and facility-management group, reports its annual results on Monday with revenue expected to be about £2.31billion and pre-tax profits £260-£270million.