Russia’s biggest banker predicts oil prices could drop further
Russia’s biggest banker has warned oil prices could fall further.
Other News
Refinery workers strike in Portugal called off
A union which represents workers at Portugal's Galp Energia said a three-day strike at the company's two refineries had been called off. The strike action had been planned to start midnight on Sunday.
Video: Russian military claims 2,000 oil tankers have been destroyed since launching bombing campaign
Russia has released dramatic images of ISIS targets being destroyed by its air force in Syria. Footage and images were released by the Russian Ministry of Defence which showed positions, including tanker trucks, being targeted.
Call for national strategy to cut demand for electricity
Political parties in Scotland should commit to a national strategy to help businesses and consumers reduce and manage their demand for electricity, environmental and energy groups have said. WWF Scotland and Edinburgh-based company Flexitricity have stressed that implementing a concerted strategy regarding electricity consumption would mean Scotland could avoid the need to build expensive new fossil fuel power stations and more rapidly cut climate emissions. The groups also asserted that such a strategy must go beyond energy efficiency, and include measures to increasingly tap into the vast existing “invisible“ power network of industrial, commercial and public sector organisations.
Nigeria to reduce gasoline costs and scrap fuel subsidy
Nigeria will reduce gasoline costs and scrap a fuel subsidy under a pricing mechanism to come into effect from January, Petroleum Minister of State Emmanuel Kachikwu said.
Gazprom workers killed ‘by reindeer hersdman’
Two men working for Gazprom have reportedly been killed by reindeer herdsman in Russia.
Explosion at Nigerian gas plant kills tens of people
An explosion at a gas plant in southern Nigeria has killed an injured tens of people, according to reports.
China to cut rates it offers wind and solar power developer
China will cut the preferential rate it offers wind and solar power developers to reflect the decline in construction costs.
Iraq said to be looking to reopen its crude oil export pipeline through Saudi Arabia
Iraq is looking to reopen its crude oil export pipeline through Saudi Arabia, according to a state newspaper in the country. The pipeline has been shut in since 1990.
Aberdeen businessman gives away 30% of his firm for Christmas
Christmas arrived early for staff at Hunter Adams after founder Dean Hunter gave away 30% of the shares in his Aberdeen-based human resources (HR) consultancy. Mr Hunter, who founded the firm in 2011, was inspired to give away the stake in his business by Production Services Network (PSN), the oil and gas services firm at which he previously worked before it was taken over by Wood Group. He said: “We often say to our staff that it’s their company, but it doesn’t ring true when you hold all of the shares.
Japan nuclear restart on way after Kansai Electric court win
A Japanese court has cleared the way for Kansai Electric Power Co. to restart two of its nuclear reactors early next year. The Fukui District Court on Thursday removed an injunction preventing the operation of Kansai Electric’s Takahama No. 3 and No. 4 nuclear reactors, Tadashi Matsuda, a representative for the citizen’s group that initiated the case, said by phone. The court also rejected a demand by local residents to block the resumption of reactor operations at Kansai Electric’s Ohi plant. The ruling was earlier reported by broadcaster NHK.
SPIE wins £80m contract with Scottish Power Energy Networks
SPIE has been awarded an £80million contract with Scottish Power Energy Networks. The deal will last four year and is part of the newly created Distribution and Transmission business.
Eos Petro appoints new head
Eos Petro has strengthened its team with the appointment of a new chief executive. The company has appointed Alan Gaines to the role with more than 30 years’ experience in energy investment.
Gulf Minehunter returns home to Portsmouth after more than three years
One of the Royal Navy’s smallest warships has returned to base in time for Christmas after spending more than three years on security operations in the Gulf.
Russia issues international arrest warrant for oil tycoon
An international arrest warrant has been issued by Russia for a former oil tycoon accused of ordering the killing of a politician.
RedT Energy completes transaction for sale of US biogas assets
RedT Energy said the transaction for the sale of its US biogas assets has now been completed.
Falcon Oil & Gas strengthen team with new chairman
Falcon Oil & Gas has strengthened its team with the appointment of a new chairman. JoAchim Conrad, a non-executive director of the company since 2008, takes up the role from John Craven.
Leaf Clean Energy seeks payment over sale dispute
Leaf Clean Energy is seeking payment of $126million after filing a complaint against one of its investees,Invenergy Wind.
Free Recipe: Ever wondered what they eat offshore for Christmas dinner?
This holiday season the industry will rely on its workforce offshore, who are away from friends and family, to sustain the sector.
Exclusive: Spriralling costs of subsea work could send Scottish electricity bills soaring, campaigners warn
Fuel poverty campaigners have warned annual electricity bills could soar by more than £200 in the north of Scotland because of the spiralling cost of new undersea cables.
Rescuers in Southern China race to find landslide survivors
Almost 3,000 rescuers have been dispatched to the southern Chinese city of Shenzhen to search for survivors of the Sunday landslide that’s left dozens missing at a local industrial park.
Oil has a reality check for those elated by the climate deal
For anyone elated by the climate-change accord in Paris, the commodity markets have a reality check for you. World leaders may have vowed to wean the world from fossil fuels, but prices for oil, coal and natural gas are at their lowest in years. Crude, which touched an 11-year low Monday, will probably decline even more with the US ending its 40-year ban on oil exports. So is that bad news for people hoping to switch the world to cleaner fuels?
Protesters back call for shale gas in Lancashire
A protest in support of shale gas extraction has been held in Blackpool by campaigners. The move has been made in an attempt to highlight industry in Lancashire, after the county council refused planning permission for test fracking at a site in the region.
Chief financial officer takes helm of Sunshine Oilsands
Sunshine Oilsands has appointed a new chief financial officer to its team.
Beauly to Denny power line fully operational for first time
Electricity is being transmitted along the full length of the controversial Beauly to Denny power line for the first time. Joint developers Scottish Hydro Electric Transmission (SHE Transmission) and SP Energy Networks said the 220km (136-mile) “power super-highway” is now fully operational at up to 400 kilovolts. The overhead line carries renewable energy generated in the Highlands to central Scotland and was given the go-ahead by Scottish Government ministers in January 2010.