Aberdeen oil firm upbeat despite £26m pre-tax loss
Faroe Petroleum, of Aberdeen, said yesterday it was confident about the year ahead despite reporting pre-tax losses of £26million in 2010.
Faroe Petroleum, of Aberdeen, said yesterday it was confident about the year ahead despite reporting pre-tax losses of £26million in 2010.
New oil and gas service company Glacier Energy Services was launched yesterday following the acquisition of two Scottish manufacturing firms.
EnCore Oil said yesterday that the Burgman find in the central North Sea could contain more than 100million barrels of oil.
Norwegian energy giant Statoil has halted work on a £3billion-plus North Sea development following Chancellor George Osborne's tax grab on the industry, the Press and Journal can reveal.
Aberdeen-based energy services giant Wood Group is the latest oil business to transfer North Sea staff to a company in a tax haven to avoid employer national insurance contributions.
North Sea oil bosses will meet today to decide how they will respond to the UK Government's surprise tax increase.
Norwegian oil service firm Interwell has opened a facility in Aberdeen and is planning significant expansion in the city.
A trapped piece of drill pipe prevented a fail-safe device from stopping last year's massive BP oil spill in the Gulf of Mexico, a US government investigation has found.
The UK Government's shock plan to target the North Sea oil and gas business for £10billion over the next five years drew widespread criticism last night.
Decom North Sea, the Aberdeen-based industry forum set up two years ago to maximise business opportunities from offshore decommissioning, is stepping up its work with the oil and gas supply chain.
PROMINENT north-east businessman George Yule has joined Aberdeenshire-based Romar International as executive chairman to lead its growth in the international oil and gas sector.
Scottish oil explorer Cairn Energy said yesterday it planned to start its 2011 Greenland drilling programme in June.
EnCore Oil said yesterday that a substantial column of good-quality oil had been discovered by its Burgman well in the UK central North Sea.
Subsea companies from the north-east make up the bulk of an oil and gas industry trade mission to Latin America this week.
A NORTH-EAST firm which has spent three years designing a safer winch for transferring people to and from oil and gas platforms has sold its first product.
Finalists were announced yesterday for the second annual UK Oil and Gas Industry Safety Awards.
TAQA, the Middle Eastern energy company with growing operations in the UK North Sea, saw net profits rocket by 460% to £173.45million during 2010.
OIL and gas remote-camera technology specialist EV said yesterday it had secured more than £6million of investment.
ROYAL Dutch Shell set out "ambitious" production targets yesterday as it embarked on a fresh wave of growth to meet soaring demand from emerging markets.
Marine service group James Fisher and Sons said yesterday its offshore oil arm was seeing an increase in customer activity on both sides of the North Sea.
ROCKHOPPER Exploration, the North Falkland Basin oil and gas explorer, said yesterday it had secured three additional well slots on the Ocean Guardian drilling rig.
Salaries in the global oil and gas industry are widely expected to rise this year, according to a new survey.
Maersk Oil UK said its Culzean gas find had the potential to be one of the most promising high-pressure/high-temperature (HP/HT) discoveries in the North Sea in recent years.
North-east oilwell construction technology business Caledus has changed hands in a deal worth a seven-figure sum.
EnCore Oil revealed yesterday it could set up a new company for its exploration assets, which include eight North Sea blocks.