We were had, Lekoil admits
London-listed Lekoil was the victim of a scam that has all the hallmarks of a classic advance fee fraud case, the company admitted at the close of January 13.
Oil & Gas
Busy year ahead for key projects in the North Sea, Neptune boss says
A boss at Neptune Energy said 2020 was shaping up to be the private-equity-backed firm’s busiest year in the UK North Sea as activity ramps up around key projects.
Green electricity opportunity for Neptune’s Cygnus platform
Neptune’s Cygnus platform is in a prime location to have its emissions cut further by harnessing offshore wind energy, the firm’s UK North Sea interim boss has said.
Spark Exploration targets deal on billion-barrel West of Shetland licences
Australia-based Spark Exploration is aiming to find partners in the first half of this year for its West of Shetland licences, which potentially contain north of a billion barrels of oil.
Author of North Sea thriller ‘just bought laptop and started writing’ after downturn
A former contracts specialist who has published a North Sea-based novel said she “just bought a laptop and started writing” after quitting her job in the wake of the oil downturn.
Updated: Lack of action will see ‘increased’ North Sea protests, Greenpeace boss warns
A Greenpeace climate boss has warned that "increased" North Sea protest action will take place if strong measures on tackling emissions aren’t executed by oil and gas firms.
Wood ties up £100m contract extension with Melbourne Water
Energy services giant Wood has secured a £100 million, three-year contract extension to provide maintenance on Melbourne's water infrastructure.
Serica to announce maiden dividend, takes disciplined approach to deals
London-listed oil firm Serica Energy expects to announce its maiden dividend in April following a year of “strong performance”.
Oil and gas industry works to increase awareness of human trafficking
Ataria Malveaux was 18, just out of high school, when she fled a chaotic family life in Houston for the promise of making quick money in Dallas. She soon discovered her would-be employer was a pimp; only the help of another woman allowed her to escape forced prostitution.
ExxonMobil labelled ‘explorer of the year’ as global discoveries reach four-year high
Exxon Mobil led the way with new finds off the coasts of Guyana and Cyprus as global oil and gas discoveries in 2019 hit a four-year high, according to a new report.
Sparrows Group inks ‘eight-figure’ deal with Chevron, Exxon in Kazakhstan
Aberdeen offshore engineering and equipment firm Sparrows Group has announced an eight-figure deal through a Chevron and ExxonMobil join venture based in Kazakhstan.
New oil law in Somalia tests uneasy peace
Somalia is taking steps to attract foreign investment to its energy sector but challenges remain, most notably in how the federal government can integrate its policies with those of the state governments.
Russian-Turkish ceasefire for Libya takes flight
A ceasefire in Libya driven by Turkey and Russia has received backing from the two major factions in the North African country, with hostilities having officially stopped on January 12.
Zenith approved for AAOG acquisition
An offer from Zenith Energy has won a shareholder vote at Anglo African Oil & Gas (AAOG).
Lekoil suspends shares on questionable Qatari financing
Lekoil’s plans in Nigeria have been thrown into doubt, and trading in the company’s shares suspended, as a finance deal that was supposed to have been signed with the Qatari Investment Authority (QIA) appears to have been bogus.
EnQuest submits North Sea decommissioning plan less than five years after first oil
EnQuest has submitted plans to decommission a North Sea development and its production vessel less than five years after achieving first oil.
Apache, Ineos in legal row over Forties pipeline tariffs
US firm Apache has taken legal action against petrochemicals giant Ineos in a row over the Forties pipeline in the North Sea.
OGA chairman Eggar looks eager to embrace future
In March last year one of the most charismatic figures to hold office as an energy minister in the UK became chairman of the Oil and Gas Authority (OGA).
Documenting women’s role in front line of oil industry
As author Rebecca Ponton delved deeper and deeper into the world of women in the oil and gas sector, the former journalist quickly realised that the stories of these “fascinating” and “incredible” females simply had to be told.
Pryme Group begins redundancy process in Newcastle amid ‘continued losses’
Engineering firm Pryme Group has confirmed it has started a redundancy process at its base in Newcastle following “continued losses”.
Oil holds biggest weekly drop since July on easing Gulf tension
Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year.
Vessel capacity warning
Growth of the offshore energy market looks set to be hampered by a looming shortage of competent construction vessel capacity.
AAB hits record number of deals in 2019
Anderson Anderson & Brown LLP (AAB), one of the leading independent firms of chartered accountants and business advisors in the UK, is delighted to announce the successful completion of a record 70 transactions during 2019, with a combined total deal value exceeding £500 million.
Cape integration sees drop in Altrad’s pre-tax profits
French industrial services giant Altrad saw pre-tax earnings drop last year as it fully integrated UK firm Cape into its business.
Exploration in 2020: Transition, what transition?
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many E&P boardrooms in 2019, but the impact on exploration drilling is not yet apparent.