Russia’s Gazprom reports first net loss in 24 years
Russia’s state-controlled gas giant Gazprom reported its first annual net loss since 1999 on falling shipments to Europe and lower prices for the fuel.
Europe
European Oil and Gas news
Danish helicopter operator Uni-Fly expands into offshore oil and gas flights
Danish helicopter firm Uni-Fly appears to be further expanding into offshore oil and gas operations with AW169 contracts in Spain and the Southern North Sea.
Equinor Q1 results beat forecasts thanks to production growth
Equinor (OSLO: EQNR) has beaten forecasts to deliver higher than expected first-quarter results, boosted in part by higher production thanks to its stake in the UK’s Buzzard field.
All Europe Posts
In shale-wary France, an attempt to revive former coal region with gas
France could get the equivalent of 10 years of gas consumption by exploiting the methane trapped in the former coal mines of its deprived eastern regions, a French company running a rare domestic exploration programme said on Wednesday. France, which slammed the door on developing shale gas due to environmental concerns and blocked many exploration permits, has discretely supported efforts by Française de l'Energie, based in the Lorraine region, to exploit so-called coalbed methane. "France is completely dependent on imports, so it's rather interested in seeing we can produce a gas which is clean and near existing infrastructure," said Julien Moulin, head of the company formerly known as European Gas.
Spain fines Repsol 22.6 mln euros over petrol price fixing
Spain's antitrust watchdog CNMC said on Wednesday it had fined Repsol 22.6 million euros ($24.9 million), and another four franchised companies lesser amounts, for fixing petrol prices in service stations.
Europa Oil & Gas launches fundraising bid to fuel exploration plans
Europa Oil & Gas added £1.4million to its fundraising pot in a bid to sustain its future exploration plans. The firm issued 20,000,000 new ordinary shares as part of its strategy to secure funding to cover the start-up costs of its Wressle discovery.
Irish firm has high hopes for Newgrange prospect
Irish oil and has explorer Providence Resources has hailed its Newgrange frontier exploration licence as a "very attractive deep-water exploration proposition".
Russia clinches Greece accord to build gas pipeline to Europe
Russia today signed a preliminary agreement on building a natural-gas pipeline through Greece. The deal signals strengthening ties between the countries as the crisis-stricken government in Athens is increasingly isolated from the rest of Europe.
Sound Oil’s MD for Italy to head up Moroccan operation
European oil and gas explorer Sound Oil announced changes to its management team today. Luca Madeddu, an existing director of the company and currently managing director for Italy, is taking on the role of managing director for Morocco.
Acsef welcomes key decision for CCS plant
Development body Aberdeen City and Shire Economic Future (Acsef) today added its backing to plans for a carbon-capture and storage (CCS) plant at Peterhead Power Station. Acsef chairman Colin Crosby said: "It will be the first of its kind in the world and we are delighted it will be based in the north-east.
Total sells its interest in the Schwedt refinery to Rosneft
France's Total has signed an agreement to sell its 16.67% stake in the Schwedt refinery in north-east Germany to Russian oil and gas giant Rosneft, which already holds indirectly an 18.75% interest in the facility. The deal is valued at $300million (£190million) excluding working capital and remains subject to customary approvals.
Roxi confirms receipt of first cash from Galaz asset sale
Alternative-market-listed Roxi Petroleum, the central Asian oil and gas company with a focus on Kazakhstan, said today it had received the first $10.4million (£6.5million) from the sale of the Galaz asset.
BP to Pay Rosneft more than £470million for part of Siberian oilfield
UK oil and gas giant BP will pay Russia's Rosneft $750million (more than £470million) for a stake in an east Siberian oil producer.
Petrofac lands more than £250million of repeat UK North Sea work
Energy service giant Petrofac said today its projects and operations business unit had secured contract renewals for UK North Sea work worth a total of about $400million (£252million).
OGUK Conference: Infrastructure fears raised at conference
The North Sea energy industry faces a potentially crippling domino effect unless action is stepped up to save key infrastructure, a conference heard yesterday.
Statoil makes changes to its board of directors
Statoil has made a number of appointments to its board of directors after two of its board members chose not to stand for re-election. Øystein Løseth has been elected as new chair and Roy Franklin as a new member and deputy chair. It comes after the outgoing chair of the board Svein Rennemo and board member Jim Mulva informed the board in advance of their decision not to stand. Bjørn Tore Godal, Jakob Stausholm and Marjan Oudeman were re-elected as members of the board of directors.
Statoil to sign ownership over of head office building
Statoil has entered into an agreement with Colony Capital for the sale of its head office building in Norway. The company will also sign a 15-year lease agreement with an extension option at the same time. Statoil's head office building is at Forus in Stavanger.
Gazprom given more time to respond to EU antitrust charges
Gazprom has been given more time to respond to charges by European Union antitrust regulators after it was alleged the company levies excessive prices and blocks rivals in Eastern Europe. The European Commission announced in April that the Russian oil giant had been given 12 weeks to reply to the charges. Antitrust regulators had brought the charges after more than two years of investigation.
Swire Oilfield Services appoints new CFO
Swire Oilfield Services has made an appointment to its executive team. Roy Shearer will join the company as its chief financial officer and will be based at the offices in Aberdeen. He will be responsible for the finance function across the group, including accounting and reporting, planning, tax and treasury.
IWCF appoints first chief technical officer
The IWCF (International Well Control Forum) has appointed its first chief financial officer. David Conroy will be based at the UK's headquarters in Montrose where he will be developing the role to lead changes to the technical aspects of IWCF's services. This will include exam quality, programme development, curriculum and training.
Russia’s Lukoil to boost oil exports by at least 300,000 tonnes in June
Russia's top oil producer Lukoil will increase its crude exports by at least 300,000 tonnes in June due to cuts in production at its Norsi refinery, industry sources said on Tuesday.
Russian oil producer Rosneft reshuffles management
Russia's top oil producer Rosneft said on Monday it had made changes to its managerial structure and that veteran oilman Igor Maidannik had left the company.
Fledgling subsea firm lands first major deal
A subsea company which made its debut just months ago has landed its first major overseas deal worth more than six figures.
Norway overtakes Russia as western Europe’s top gas supplier
Norway has overtaken Russia as western Europe's top gas supplier, data from state firms shows, indicating the European Union's drive to reduce its dependence on Russian energy is bearing fruit.
New UK Government set to kick-start shale ambitions
The UK's new Conservative government could take control of planning decisions to speed up the development of shale gas and prevent investor money from drying up, lawyers say.
Total to host energy sector action plan meeting
French oil major Total is hosting a meeting of the world's biggest oil companies over the sector's action plan ahead of UN climate talks in Paris at the end of the year.
Top EU energy chief to visit Scotland
The European Union's top official in charge of creating an 'energy union' has accepted an invitation to visit Scotland later this year. Maros Sefcovi, vice president of the European Commission, will explore the potential role Scotland could play in creating a single energy market across the region. The energy union has been described as the EU's most ambitious plan since the 1950s and would allow gas and electricity to flow across Europe to where it was needed.
Forum Energy Technologies reduces headcount
Global oilfield service company Forum Energy Technologies yesterday said it has made 12 employees redundant following the closure of its workshop in Lybster, Caithness. The Houston-based firm’s statement adds it to an ever-growing list of oil and gas companies that have been forced to lay off staff due to low crude prices and rising costs. Last week oil giant Shell said it would make 250 of its North Sea workforce redundant, while Taqa revealed plans to reduce its headcount by 100. BP earlier announced it would cut 200 full-time onshore positions and 100 contractor roles from its 4,000-strong North Sea workforce. Forum yesterday said that the company’s operations at Lybster, which focused on the manufacture of oil well drilling equipment, will be shifted to one of its other facilities.