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Oil & Gas

Aberdeen MSP calls for safety over “cutting costs”

09/01/2016

An Aberdeen MSP has warned the “first-rate” safety culture in the North Sea that emerged after Piper Alpha could be at risk as firms strive to cut costs. The SNP’s Mark McDonald is seeking urgent talks with Deirdre Michie, the chief executive of Oil and Gas UK.

Oil & Gas

Blaze Manufacturing targets overseas sales with new appointment

09/01/2016

Fire protection company Blaze Manufacturing has hired a director of Aberdeen Science Centre to spearhead overseas expansion plans, the north-east firm announced yesterday. Blaze finance director Ann Johnson said new international manager Colin Black’s background in rig cooling made him a “great match” for the company. Mr Black, who is also a director of the Society of Petroleum Engineers, will help Blaze reduce its reliance on North Sea clients amid a tough economic climate in the region due to the low oil price.

Oil & Gas

Britain’s trade deficit narrows as oil price falls cut import costs

08/01/2016

Britain’s trade deficit narrowed to £3.2 billion in November, as plunging oil prices cut the cost of imports. The Office for National Statistics (ONS) said the total trade deficit for goods and services fell from £3.5 billion in October. It added that the deficit for goods alone also narrowed to £10.6 billion in November from £11.2 billion the month before.

North Sea

Azinor boosts its UK North Sea portfolio

Seacrest Capital Group-backed energy firm Azinor Catalyst is beefing up its UK North Sea oil and gas portfolio by buying an exploration licence from Trap Oil and Norwegian Energy Company (Noreco) UK. The licence covers three blocks known as the Homer asset in the North West Witch Ground Graben area of the Moray Firth. Under the terms of the “farm-out” deal, which is subject to UK Government approval and would see London-based Azinor become operator for the asset, Trap and Noreco with both receive payments contingent on the occurrence of certain future events.