Weir Group predicts growth following increase in customer spending
Scottish engineer Weir Group expects to return to growth this year by capitalising on an increase in its oil and gas customers' upstream spending.
Scottish engineer Weir Group expects to return to growth this year by capitalising on an increase in its oil and gas customers' upstream spending.
Energy services firm Senergy is set to cut 30 jobs to meet changing market demand.
Middle East oil firm Taqa announced a change at the top yesterday, saying Carl Sheldon was quitting the chief executive’s role he has held for six years.
North Sea oil firm Apache has had “serious discussions” with potential buyers, its boss said yesterday.
The deadline for the UK Oil and Gas Industry Safety Awards submissions has been extended due a high number of entrants, the organising body Oil & Gas UK announced.
A petition signed by more than 3,000 offshore workers urging MSPs to help restore “shattered confidence” in helicopter safety will be handed over at the Scottish Parliament today.
The "biggest technology brains on the planet" are set to gather in Aberdeen next week to discuss ways of maximising potential of the UK Continental Shelf.
Petrobras, the world’s most indebted oil company at $114.3billion (£68billion), slashed its five-year investment plan by $16billion (£9.6billion) as it cut spending in its unprofitable refining division.
Weatherford is looking to divest its non-core businesses to cut costs following a difficult financial year.
Swiss engineering giant ABB has won a five-year services contract with Nexen for its Buzzard platform in the UK North Sea.
Clashes that erupted in South Sudan’s oil-rich Upper Nile state last week pose “no imminent threat” to crude production and output is progressing normally, the Petroleum Ministry said.
Spanish oil and gas multinational Repsol has agreed to accept $5billion (£3billion) for Argentina’s seizure of its Treasury Petroleum Fields (YPF), ending a two-year dispute.
Onshore explorer Union Jack Oil has raised £650,000 through a placing of shares to take its UK operations forward in 2014.
Petrofac has closed 2013 on an upward trend with $3billion worth of new contracts awarded year to date and an opening backlog.
Norwegian oil services firm AGR nearly doubled its income within the 12 months ending December 2013, closing the financial year on 208million Norwegian Krones (£20.7million) EBIDA.
North Sea oil and gas is at a crossroads and record investment levels will plummet by half if nothing is done to help new projects get started, industry bosses have warned.
Investment in the UK Continental Shelf could fall by more than 50% by 2016 unless the rate of maturing new developments increases, Oil & Gas UK has warned.
Norway may need to separate its sovereign wealth fund from the central bank as its ballooning size makes proper oversight more difficult, the annual Norges Bank Watch report recommended.
Aberdeen-based information systems firm Collabro received UK Government’s backing for its planned expansion into the US.
Independent explorer Enegi Oil has secured £2million in funding to move the Fyne field development to the next level.
Italy-focused exploration firm Mediterranean Oil and Gas has reported a 42% decrease in production and close to 50% cut in revenues in 2013 compared to the previous year.
Wood Group PSN has won its first major contract of the year - securing a $500million extension to its agreement with Talisman Sinopec Energy UK.
David Cameron was flown out to an oil and gas platform 150 miles offshore yesterday as the “vital” North Sea industry took centre stage in the independence battle.
Sir Ian Wood said yesterday that oil bosses have made it clear to him that “fiscal instability” has been a major factor in the North Sea’s recent underperformance.
The new oil and gas regulator to be set up on the back of the Wood Review will spearhead the hunt for oil off the Hebrides, it has emerged.