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. 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. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

Oil & Gas

Oil & Gas

Helicopter crash survivors sue CHC for millions

Survivors of the 2013 Super Puma crash which killed four oil workers have launched a damages claim worth more than £5million. Nine passengers who were on the aircraft when it went down off the coast of Shetland are taking legal action against CHC Helicopter claiming their lives have been "destroyed" by the accident. Four of their colleagues were killed when the AS332 L2 - operated on behalf of offshore giant Total - plunged into the North Sea about two miles west of Sumburgh Airport. Lawyers for the group of survivors said their claim was being raised for the physical, emotional and financial losses suffered by the workers. CHC Helicopter said last night it "deeply regretted" the loss of life and that it had paid out more than £500,000 in interim insurance payment to those affected by the crash. A spokeswoman added: "Throughout the period of investigation, there has been much work undertaken to provide financial assistance to the families impacted by the accident." The survivors seeking damages claim they suffered a range of injuries, from a fractured spine to the effects of swallowing aviation fuel which leaked from aircraft. One said he suffers flashbacks to the tragedy and had been diagnosed with post-traumatic stress disorder. Lisa Gregory, partner at legal firm Digby Brown in Aberdeen, who is representing the group, said: "It has been the most horrific experience and we can't imagine how it is going to affect them for the rest of their lives.

Oil & Gas

Billionaire Anil Agarwal’s Vedanta to absorb Cairn India

Billionaire Anil Agarwal’s Vedanta Ltd. will absorb unit Cairn India Ltd., combining India’s biggest miner of aluminum and copper with its largest onshore oil producer. The all-stock deal will offer each Cairn India shareholder one ordinary share, and a 7.5 percent-redeemable preference share of Vedanta Ltd. with a face value of 10 rupees, according to statements from both the companies on Sunday. Post-merger, London-listed parent Vedanta Resources Plc’s holding in Mumbai- listed Vedanta Ltd. will drop to 50.1 percent from 62.9 percent.

Middle East

Iran will seek to guard secrets in nuclear talks, Rouhani says

Iran will resist efforts to compromise its nuclear and military secrets as part of talks on the nation’s atomic activities, President Hassan Rouhani said. A nuclear accord “is within reach” provided the six countries with which Iran is negotiating make no “excessive demands,” the moderate cleric said Saturday at a press conference in Tehran. The extent to which inspectors from the International Atomic Energy Agency will be free to roam inside Iran is a sticking point for the talks.

Americas

Slumped oil price forces Colombia to redraw its deficit

Colombia’s fiscal deficit will widen next year to the most since 2010 amid lower crude prices, according to the government’s latest financial plan. The government is targeting a 2016 budget deficit of 3.6 percent of gross domestic product, from 3 percent this year, and 2.4 percent in 2014, according to the nation’s updated Medium Term Financial Plan, published Friday in Bogota.

Americas

Hunt joins creditors’ $19billion Oncor bid

Hunt Consolidated Inc. is teaming up with a group of creditors of bankrupt Energy Future Holdings Corp. to offer almost $19billion for its profitable power-line unit, a person involved in the bid said. The proposal may threaten efforts by NextEra Energy Inc. to buy the unit, Oncor Electric Delivery Co., because it requires the auction for that asset to be canceled, according to the person. NextEra was said to be leading the competition to be named the lead bidder, or stalking horse, for the auction.

Oil & Gas

North Sea firm Trap Oil running out of time

North Sea company Trap Oil said yesterday it could be force to sell assets to guarantee its survival beyond July. The eight-year-old company warned in April that it may go bust and urgently needed a “viable funding solution”. Yesterday, it said: “The company's directors, in conjunction with the company's advisers, are continuing to urgently assess a number of potential funding sources, including the potential disposal of certain of the group's licence interests.”

Oil & Gas

Diversified Scottish group to spin off its oilfield services division

J Denholm said yesterday it was to spin off its oilfield services division to focus on its other “traditional” activities, such as seafood processing, shipping and logistics. John Denholm, the family-owned company’s chairman, said the oilfield services division’s “hunger for capital” was holding other parts of the group back. A demerger would allow it to seek the capital it needs from other sources, he said, announcing plans for its listing on the Alternative Investment Market.

Oil & Gas

Indian red tape could mean firm pulls out

India-focused Hardy Oil and Gas said yesterday it may have to change tack and turn its attention to other areas. Aberdeen-based Hardy is led by former KCA Deutag director Ian MacKenzie as chief executive. Alasdair Locke, the former executive chairman of Abbot Group, now KCA Deutag, is its chairman. The company’s portfolio includes exploration, appraisal and development assets.

Oil & Gas

Iran seeks $100 billion for gas as world fixates on nation’s Oil

Iran needs $100 billion to rebuild its gas industry and has met with European energy giants as an end to decades of international sanctions looms, according to the state-run company in charge of discussions. “We welcome and appreciate investment by companies; we welcome new technology,” Azizollah Ramazani, international affairs director at National Iranian Gas Co., said in an interview in Paris. “During the last 18 months we have had many discussions with foreign companies.” While commodity markets fixate on a return of Iranian oil, the importance of gas in the longer term was underlined Wednesday as BP Plc data showed the Islamic Republic held its position as the nation with the largest proven reserves of the fuel after snatching the crown from Russia in 2011.

Oil & Gas

Firm floats its latest vessel

Sentinel Marine has celebrated the latest addition to its growing fleet of offshore support vessels, naming the ship Cygnus Sentinel at a christening event in its home city of Aberdeen. It is the second of four emergency response and rescue vessels (ERRV) that Sentinel is taking delivery of as part of a £28million funding package from Clydesdale Bank and Germany’s Norddeutsche Landesbank. The 200ft-long Cygnus Sentinel is starting a five-year contract serving Gaz De France operations in the southern sector of the UK North Sea.

Oil & Gas

Chevron completes its largest seismic survey in Aussie oil hunt

Chevron Corp. is studying data from its largest-ever seismic survey to decide where to drill for oil in an untapped frontier off southern Australia. The seismic program, carried out by Norway’s TGS Nopec Geophysical Co., gathered data covering about 22,000 square kilometers (8,500 square miles) of the Great Australian Bight, Chevron’s local unit said in an e-mail response to questions.

Oil & Gas

SNP defends plans for full fiscal autonomy amidst lower oil prices

Deputy First Minister John Swinney has leapt to the defence of the SNP’s plan for full fiscal autonomy despite Scottish Parliament analysis which found that plummeting oil prices could lead to a £9.7 million cut in public spending. Labour has produced its own “oil and gas bulletin” while Holyrood awaits an official bulletin by the Scottish Government. SNP members cried that it was a “Mickey Mouse” report at First Minister’s Questions, but Labour’s deputy leader Kezia Dugdale said its findings have been confirmed by independent researchers at the Scottish Parliament Information Centre (Spice).

Oil & Gas

Technip nets Chevron decommissioning contract

Technip has been awarded a contract for the decommissioning of the brownfield development and installation of subsea equipment in the Gulf of Mexico by Chevron. The company said the lump sum project will help support a floating production system located in the Mississippi Canyon. The work includes project management and engineering, decommissioning of existing equipment and pre-commissioning and testing.