Government pledges £15million for new industry regulator in response to Wood Review
Funding of £15million to help kick-start a new independent regulator for the North Sea oil and gas industry has been announced by the UK government.
Funding of £15million to help kick-start a new independent regulator for the North Sea oil and gas industry has been announced by the UK government.
China Petrochemical Corp, known as Sinopec Group, has confirmed it will sell its oil machinery business.
Prime Minister David Cameron was accused of presiding over an “absolute farce” on Tuesday night after appointing the 15th oil and gas minister in 17 years.
Aberdeen-based drilling contractor KCA Deutag has won a $170million contract for the provision of the Ben Rinnes jack-up rig in Angola.
A Chinese oil company has completed drilling in disputed waters off the coast of Vietnam and moved a rig that sparked skirmishes between boats of the two countries and deadly anti-Chinese riots in Vietnam.
Carbon captured from an industrial plant is to be used to produce omega-3 rich algae for fish feed in a project in Norway.
Oil and gas engineering firm Kvaerner is targeting a continued increase in earnings by cutting costs of new projects as it reports improved financial results in the second quarter of the year.
Leni Gas & Oil (LGO) has signed heads of agreement to acquire 100% interest of a Trinidad company holding the service contract for the Trinity-Inniss field.
US oil giant Chevron will axe 255 Aberdeen-based jobs after carrying out a review of its business in Europe’s energy capital.
North-east businessman Alfie Cheyne says he has no intention of giving up life at the helm of fast-growing Ace Winches anytime soon.
Oil prices are creating the greatest incentive in four years to store crude at sea and sell it later as prices rise, prompting speculation there will be a revival in a trade once used by firms including BP Plc and Citigroup Inc.
North Dakota, the second-largest oil-producing state in the US, expects output to surge through the summer as more benign weather gives roughnecks extra time to work in the field. Output rose about 3.6% to 1.04 million barrels a day in May, the state’s Department of Mineral Resources reported yesterday. It was the largest increase since August. The growth came even as rain and high winds kept well- completion crews out of the fields for several days during the month. Better summer weather will lead to production growth in the region of 5 to 6% a month in June, July and August, said Lynn Helms, director of the state’s Department of Mineral Resources.
Italian contractor Saipem has won two contracts for its floating production, storage and offloading vessels (FPSOs) in Brazil and Angola, worth a total of $600million.
Oil and gas technology company P2 Energy Solutions has won a contract in Ivory Coast with the country’s state oil and gas corporation.
Australian oil explorer Oilex has received a governmental approval for the sale of gas from its Cambay Field in India.
Aberdeen-based Process Safety Solutions (PSS) has officially opened its new Wick facility in Caithness as the company is looking to capitalise on the Highland's energy resources.
The energy industry will bid farewell to its 15th energy minister in 17 years.
The dream of pollution-free coal plants is getting a boost from growing demand for carbon dioxide used to revive old oilfields. In one of the first projects to harness the C02 waste of a coal plant for oil drilling, power generator NRG Energy Inc. announced today that it’s beginning construction on a $1billion retrofit of its East Texas coal plant. NRG will pump carbon dioxide pollution from the plant deep into a nearby oil field that it partially owns. The idea is to loosen trapped crude deposits, making old wells flow like new while burying the harmful greenhouse gas. Cash from the increased oil production will help pay for the project, NRG said in a statement today.
Industrial technology solutions provider Rockwell Automation has secured a £2.5million contract with a North Sea operator.
Brent crude continues to trade near a three month low.
Oil and gas training body Opito has opened nominations for its inaugural skills awards.
Independent investment company Equistone Partners Europe has sold Aberdeen-based PD&MS Energy in a secondary buyout to a mid-market private investor Inflexion.
Aberdeen-based oil and gas recruitment firm Brander is looking to tap into the mobile jobseeker market with its new app.
Edinburgh-based Bowleven has terminated its strategic alliance agreement with Petrofac over the sell-off of its Cameroon shares.
An Aberdeen firm specialising in the nascent light well intervention sector of the subsea technology market has been singled out by experts for its innovation.