Cameron International has said it will reduce its headcount further as the low oil price continues. The company said around 75 jobs would go in early January next year. The move comes after the company previously said it would be letting 150 staff members go this autumn.
At the helm of the Tata Group for more than two decades, Ratan Tata took a biggest-is-best approach. Putting India’s largest conglomerate on steroids, he propelled Tata onto the world stage by adding marquee brands such as Land Rover, Jaguar, Tetley tea and New York’s Pierre hotel to the group producing much of the nation’s salt, steel, trucks, electricity, fertilizer and other basic goods. He also increased debt 11-fold in his final 10 years.
The Paris attacks will impact the French economy in the near term but activity is likely to remain resilient, according to a leading expert. IHS global insight chief European and UK economist Howard Archer has compared the most recent attack in the French capital – which killed 129 people – to previous incidents in both London and Madrid. Archer said experience from those events showed the economic impact is likely to be “limited and temporary”.
The UK could need to build more than 25 power stations in the next 20 years in order to meet its power demands. The Energy Secretary Amber Rudd is expected to say Britain’s energy security will be under threat unless old nuclear and coal power stations are replaced.
Security forces are reported to have killed an operative working for ISIS who masterminded the killing of an Apache worker in Egypt last year. According to media reports, Aly Ashraf Hassanein al Gharabi, had been responsible for running operations last year for an ISIS-linked militant group when William Henderson was killed.
Warren Resources has strengthened its team with the appointment of a new chief executive. The company said James Watt will take up the position while Lance Peterson, who had acted in the role in the interim period, will return to his role as a director.
A lawyer working for Statoil caught up in the Paris terror attacks has spoken to Energy Voice’s sister publication the Press and Journal.
A new report published today by the RSPB shows that wildlife is already being affected by climate change and these effects will only intensify over the course of this century.
A competition where Scottish entrepreneurs can win funding up to £100,000 will be judged by outgoing the chief executive of the Wood Group, Bob Keiller, at an event in Edinburgh next month.
The French government vowed to push on with the United Nations Climate summit in Paris this month and will boost security for the more than 120 world leaders traveling to a city reeling from a deadly terrorist attack.
Coal power plants are not the solution to help billions of people without electricity or clean cooking facilities, aid agencies have warned.
Rolls-Royce is gearing up to slash hundreds of jobs as a low oil price batters its marine division.
Volkswagen AG said 430,000 of its new cars had “implausible” carbon dioxide ratings as it continues talks with regulators in an attempt to address the emissions cheating crisis.
French stocks will trade without interruption Monday as investors come to terms with attacks that left at least 127 people dead in Europe’s worst terror incident in more than a decade.
A ruling by the UK’s top court on damages provisions in major contracts will impact on the energy and construction industries, says an Aberdeen legal expert. In a landmark ruling, the Supreme Court has “shaken off the dust from 100 years of case law” regarding contract compensation clauses, said Scott Johnston of legal firm Pinsent Masons. Mr Johnston said: “Many business and consumer services contracts contain what is commonly known as a “liquidated damages” clause and the energy and the energy and infrastructure sectors in particular are very familiar with these terms, which can have big financial implications.
Marine and subsea company IMES has secured new contracts worth £750,000 with clients in the oil and gas industry.
Volkswagen has set a target for the end of the month asking staff who had knowledge about its diesel emission test cheating to step forward. The company said workers who made contact with internal investigators would be exempt from dismissal.
Statoil said it is already close to achieving its aim of reducing CO2 emissions on the Norwegian Continental Shelf by up to 800,000 tonnes by 2020. The Norwegian operator said it has now decided to increase its target by 50% to 1.2million tonnes. Seven years ago the petroleum industry, led by Konkraft, agreed on a goal of improved energy efficiency of up to one million tonnes of CO2 between 2008 and 2020.
Vattenfall has place a hybrid bond issue of $400million which will be used for general corporate purposes. The company said the move will be its first ever hybrid bond denominated in US dollars.
The UK fossil fuel industry receives £6billion a year in subsidies which is almost twice the financial support provided to renewable energy companies, new research has shown. In a study by the Overseas Development Institute it was found Britain gave an average of £5.9billion worth of subsidies a year to companies including BP and Shell over 2013 and 2014. The proportion of it was given in the form of tax breaks which help boost North Sea production.
A power plant will step up production in time for winter to save Christmas for millions of families across Scotland. Peterhead Power Station announced yesterday that it would be upping capacity at the site to help prevent blackouts striking homes over the holidays. The plant’s commitment comes after the National Grid guaranteed to supply enough power to prevent cuts during a severe winter.
Noble Midstream Partners has commenced a public offering of 12.5million units representing limited partner interest in Noble Midstream. The units have been put on a public offering of between $19 and $21.
Oil and gas firms in the Aberdeen area could be potentially spending millions of pounds on empty office space no longer being used. Many companies are legally bound by long-term tenancy leases leaving them tied in to deals with landlords and developers and committed to paying for office space they don't need. The cost of renting office space is calculated on price per square foot, with industry experts putting the typical price at locations such as Westhill at more than £20 per square foot. A company with a 100,000sq ft building could have an annual lease in excess of £2million, notwithstanding rates and other running costs.
MPs are to question National Grid bosses over the security of the UK’s power supplies amid concerns about keeping the lights on this winter.
A Dutch Court is set to rule later this month regarding production on the Groningen field after output was reduced because it was causing earthquakes. The Council of State in September heard arguments in the case, which is seeking to slow or stop production at Europe's largest gas field.