Fighting decline the GoM bottom line
The US Gulf of Mexico is mature and on a slide that can only be reversed through a concerted effort by the industry backed by sufficient fiscal and other incentives to turn the tide.
Oil & Gas
‘Tantalising’ prospect for Scotland to lead way in new technology
News that carbon capture and storage technology could herald a new era of financial prosperity for the North Sea and the communities that rely on it was widely welcomed last night.
Carbon storage plan could bring new North Sea boom
Three billion extra barrels of oil could be squeezed out of the North Sea using pioneering technology that is expected to create up to 10,000 jobs across Scotland, the Press and Journal can reveal.
Imes Group announce sale of ISS arm to Lockheed
ABERDEEN company Imes Group has announced the sale of one of its subsidiaries, Imes Strategic Support (ISS), to Lockheed Martin UK (LMUK), a subsidiary of Lockheed Martin Corporation, of America.
North-east group looking forward to Houston show
Hundreds of north-east business people have begun flying into the US city of Houston for the world's most important oil and gas show.
EnerMech invests in site expansion
EnerMech, a provider of mechanical services, said yesterday it had invested more than £6million in headquarters in Aberdeen and at its regional hubs.
Strong gas business helps BG results
OIL and gas operator BG Group said yesterday the strength of its integrated gas business was reflected in the resilience of its profits and cash flow in a challenging economic environment.
£3.11bn first-quarter haul for oil giant Exxon
EXXONMOBIL said yesterday it had achieved solid first-quarter 2009 results despite the slowdown in the global marketplace and sharply lower commodity prices.
Oil and gas show to go ahead as firms plan for pandemic
The world's top oil and gas show will still go ahead as planned in the US next week, despite the swine flu outbreak.
Earnings up at offshore engineering group
OFFSHORE engineering group Aker Solutions said yesterday its gross earnings in the first quarter of 2009 had risen 12% on a year earlier at £115.7million, beating market expectations.
RBG technology day ‘a great success’
RBG, the Aberdeen-based provider of fabric maintenance, construction support and related services to the international oil, gas and petrochemical industries, has hailed its annual technology day event a great success, with the biggest turnout yet.
PSN’s progress ‘well ahead’ of plan
Production Services Network (PSN) said yesterday its revenue and profits were running well ahead of plans laid when it was bought by its management three years ago.
Shell reports £2.26bn surplus in first quarter
Royal Dutch Shell posted profits of £2.26billion yesterday for the first three months of 2009, down 58% on a year earlier.
Senergy to help find ways of extending life of North Sea
Senergy, the Aberdeen-based provider of diversified energy services, said yesterday it was to help the UK Government find ways to extend the production life of North Sea oil and gas.
Giant North Sea oil field to close for four weeks
THE Buzzard oil field, one of Britain's largest, will shut down for four weeks in the third quarter of this year, Canadian field operator Nexen said yesterday.
Exceed achieves turnover milestone
ABERDEEN performance-improvement specialist Exceed revealed an achievement milestone of its own yesterday.
BP surplus slips to £1.64bn but still beats City forecasts
Oil giant BP said yesterday that first-quarter profits slid 62% year-on-year after oil prices slumped from last summer's record high.
Baker Hughes snaps up north-east consultant for £17m
International offshore energy service firm Helix Energy Solutions (HES) has sold its north-east subsidiary for less than it spent on acquiring it a few years ago.
Aker Qserv strengthens management team
AKER Qserv, the well-intervention, process and pipeline service specialist, has announced two new appointments to boost its long-term growth strategy.
Wireline Engineering unveils changes at the top
ABERDEEN well-intervention and completion specialist, Wireline Engineering, has announced changes at board level to help to sustain the growth which has seen it expand its markets into more than 50 countries.
Serica expecting field revenue boost
OIL and gas explorer Serica Energy - which is listed in both London and Toronto - expects its first revenue of £2-£2.7million a month from the Kambuna gas field offshore Indonesia from June.
Bristow crews given temporary reprieve
The threat of redundancy for nearly 100 workers at the Aberdeen operation of Bristow Helicopters has been lifted, at least temporarily.
Schlumberger’s profits and turnover slide
Oilfield service giant Schlumberger reported lower first-quarter revenue and profits yesterday.
Sparrows wins key Norwegian contracts
SPARROWS Offshore, the crane service arm of Aberdeen-based Energy Cranes International, has landed crane-modification and upgrade contracts in Norway worth more than £1million for completion this spring.
‘Clean’ power stations bid could create thousands of jobs
UK Government plans for "clean" coal power stations could create 50,000 jobs, Energy and Climate Change Minister Ed Miliband forecast last night.