EnQuest sells new headquarters in bid to raise £50million
Cash-strapped oil and gas explorer EnQuest is set to raise £50million through the sale of its new headquarters building in a deal that was struck just weeks before staff move in.
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Former BP engineer launches 3D venture
A former North Sea drilling engineer who took a redundancy package has launched a 3D printing business aimed at the oil and gas industry. PlastiPrint 3D is the brainchild of Gary Cairns who described the venture as a cost-effective way to create working models on demand. Mr Cairns said: “Until now, turning 2D designs into 3D models has been an expensive and time-consuming process, but 3D plastic printing makes it much easier to evaluate products, take them to market, and to train staff on their use.
A $500billion maybe: Why big Iran moment may be years away
For every investor who sees opportunity in a post-sanctions Iran, there are others who see the same old legal morass. The Islamic Republic is banking on a nuclear accord with world powers to unleash a flood of foreign cash into an economy crippled by decades of sanctions. Companies including Royal Dutch Shell Plc, BP Plc and Total SA say they’re willing to invest in the OPEC member.
Lagos tax agents turn death threats into praise as oil drops
Tunde Fowler used to get death threats when he began collecting levies in Nigeria’s commercial hub of Lagos 10 years ago. Today he gets hailed as Tax Muyiwa, a nickname that means “bring your tax” in the local Yoruba language. His staff of about 3,000 administrators no longer need police escorts to prevent them from being attacked. They walk freely in their green and white Lagos Internal Revenue Service polo shirts, reflecting a growing acceptance among a taxpaying population that’s surged by half to 4.5 million in the past five years.
For the Godfather of ethanol, a bet on NASCAR with high stakes
Jeff Broin’s silhouette shines in the glossy hood of the modified grass-green Chevrolet SS. It’s moments before the start of NASCAR’s Quicken Loans 400 at Michigan International Speedway in Brooklyn, Michigan, and Broin is having a quick chat with young driver Austin Dillon. A racing fan for a decade, Broin is now a NASCAR sponsor. And what really has him revved up is what’s splashed in bold white letters across the hood of Dillon’s racer and the stuff in its fuel tank: “E-15,” spelled out more precisely as “15% Ethanol.” The 49-year-old Broin, founder of Poet LLC, the biggest U.S. ethanol producer, is the architect of a promotion by which NASCAR uses gasoline mixed with 15 percent concentrations of the corn-based fuel to power its $150,000 supercars. He and the trade group American Ethanol have been counting on that sales job to help sway public opinion -- a task getting harder every day. “It’s just a great way to show how our product performs under some of the harshest conditions on the planet,” says Broin above the din of revving engines and amidst the singular smell of race day -- the aroma of barbecue pits, beer, gasoline and motor oil all mixing on the humid air.
Odebrecht CEO wrote jail note to destroy ‘rigs e-mail’, police say
The head of Brazilian conglomerate Odebrecht SA wrote a note to lawyers with the phrase “destroy rigs e- mail” while he was in jail, police said Wednesday, drawing more attention to the most senior executive detained in a wide- ranging graft investigation. Marcelo Odebrecht, 46, wrote the message that was handed to lawyers and photocopied at the jail as part of a routine search, according to a police statement. The note also mentions “Andre Esteves,” which is the name of the billionaire banker who is CEO of Grupo BTG Pactual SA. A spokesman for BTG declined to comment. BTG shares fell 3.7 percent today to 29.85 reais.
Greenpeace protesters scale New Zealand parliament’s roof
Four environmental protesters breached security at New Zealand’s parliament by scaling the roof and perching on a ledge above the main entrance.
OPITO to explore ‘The Economics of Safety at $60 Oil’
An international event aimed at investigating how the energy industry can remain safe following the oil price crash has unveiled its roster of speakers and opened for registration. The Opito Safety and Competence Conference (OSCC 2015) will explore the topic of “The Economics of Safety at $60 Oil”, to be held in November in Abu Dhabi.
Helicopter drama as oil worker was awoken by stabbing pain
When John Browne felt a stabbing pain below his stomach while more than 110 miles from home in the North Sea, he had no idea what was in store for him. Over the next 24 hours, the father-of-two endured a pain so severe began fearing the worst - and wondering what would happen to his wife and children. But after being airlifted to Aberdeen Royal Infirmary, the Inverurie oil worker was immediately put at ease thanks to the dedication of the doctors, nurses and porters.
Oil and Gas Innovation Centre to explore biotech at event
Opportunities for the oil and gas industry to learn from innovation in the biotech sector will be explored at an event in Aberdeen on Thursday. The Oil & Gas Innovation Centre (OGIC) and the Industrial Biotechnology Innovation Centre (IBioIC) are collaborating to host Biotechnology in Oil & Gas: the Art of the Possible – a workshop which will explore the opportunities to apply technology and know-how from biotechnology to challenges facing the oil and gas industry. Taking place at the Rox Hotel on Thursday 25 June, the event will examine the impact biotechnology could have in a range of disciplines in
Oil tanker rescues stranded migrants
Svein Kvalavaag, the captain of the Norwegian Siem Pilot vessel, said yesterday that he picked up 671 from two wooden boats north of the Libyan capital, Tripoli. Late last night, he was asked to take 99 more migrants who had been rescued by a Russian tanker. Mr Kvalavaag told the Norwegian industry site www.maritime.no that the 770 people included 140 women, of whom three were pregnant, and 45 children. They were all taken to the southern Italian island of Sicily.
ONS confirms conference theme
ONS has confirmed the theme of its 2016 conference as ‘Transition’. Conference chief executive Leif Johan Sevland said theme reflected current market constraints.
Technip to mark National Women in Engineering Day
French energy services giant Technip will mark National Women in Engineering Day with an open evening at its UK headquarters in Westhill tonight. on Tuesday, June 23rd from 6pm-7.30pm. Following the success of a similar event last year, Technip’s UK operating centre has invited young women interested in a career in engineering to come along to find out more about the industry and the company’s work in the subsea sector.
Sir Ian Wood – Aberdeen is “sleepwalking”
Amid a sharp oil decline Aberdeen has found itself “sleepwalking”, according to Sir Ian Wood.
Nearly 50 jobs go as Red7Marine crashes into administration
The Red7Marine group of companies has gone bust, with 47 jobs axed, professional services firm EY said today. Red7Marine Group and its subsidiaries, Red7Marine and Red7Marine Offshore, provide offshore oil and gas, marine renewables, maritime inland subsea engineering and marine engineering services.
Greenpeace urges Defra to move fast on fracking report
Environmental campaigners have called on the UK Government to swiftly make public the full version of a heavily redacted report into the impacts of fracking following a ruling by the Information Commissioner in their favour. The commissioner's office is insisting the Department for Environment, Food and Rural Affairs (Defra) publish in full.
Russia braces for global asset fight over Yukos after seizures
Russia is bracing for more foreign asset seizures over the defunct Yukos Oil Co. after France and Belgium began enforcing a $50 billion damages award, a Kremlin adviser said. France arrested insignificant funds in accounts of Russian companies and diplomatic missions at the local subsidiary of OAO VTB Bank, Economy Minister Alexei Ulyukayev said Thursday. Belgium earlier served Russian state-owned lenders and entities with seizure notices as part of a 1.65 billion-euro ($1.9 billion) court ruling, ordering them to declare assets belonging to the Russian state or debts to it.
Noble hits back at critics with open letter
Asia’s largest commodity trader Noble Group Ltd. took on its critics today with an open letter defending its accounting methods and valuations of a coal asset. Noble has seen its shares drop more than 40 percent since a group that calls itself Iceberg Research published a report in February claiming Noble uses inventory repurchase agreements to cut its debt levels at key financial reporting periods. Ex- Morgan Stanley banker Michael Dee is another critic of the company and has called on its Chairman Richard Elman to resign. Both Iceberg and Dee rejected Noble’s letter, saying they stand by their claims.
Thousands to lobby MPs on climate change
Thousands of people from snowboarders and surfers to bee keepers and nuns are set to converge on Parliament to urge their MPs to back strong action on climate change. The mass lobby is today calling on Parliament to support a global climate change deal which will end carbon pollution from fossil fuels by mid century and invest in warm homes, clean energy and sustainable transport. Politicians are also being urged to end polluting coal power in the UK by 2023, on the way to phasing carbon out of electricity supplies.
Gas-guzzling US drivers shock even analysts as refiners profit
Oil supplies are abundant. America’s refiners are running the hardest in 10 years. So why isn’t the country awash in gasoline? It’s all going up in smoke.
Oil heir Getty died of haemorrhage
Oil fortune heir Andrew Getty died from an ulcer-related gastrointestinal haemorrhage at his Los Angeles mansion, but also had a toxic level of methamphetamine in his body, authorities have said.
MP intervenes to get caterers and unions talking again
Aberdeen South SNP MP Callum McCaig called on the Caterers Offshore Trade Association (Cota) to restart talks with unions over a staff pay deal. In April, Cota announced it was withdrawing its 2015/16 pay offer, worth around 2% and part of a two-year pay agreement. Unite and RMT remained “keen to engage” with the association, Mr McCaig said, adding he had written to Cota asking for a meeting with the unions as soon as possible.
Wreckage of sunken oil rig support boat found
The wreckage of a sunken oil rig support boat was found during a bid map the dozens of sunken ships sunk in the Battle of Jutland. The ship was believed to have to have sunk following a fire in the 1980s. The scans of ships destroyed in the Battle of Jutland 99 years ago have been made for the first time using 21st Century technology.
Wind farms’ £8.8million community benefit
nd farms contribute almost £9 million a year to community projects across Scotland, new figures have shown. The amount of community benefit cash paid to local good causes from on-shore wind farms has now reached just over £8.8 million a year, according to Local Energy Scotland. Grants paid out under the scheme have helped with a wide range of projects, including sending members of a West Lothian dance school to the European Street Dance Championships in Germany. Payments also allowed a new community hall to be build in Daviot, Aberdeenshire, and to a thermal imaging camera so residents in the Sutherland area of the Highlands can see where extra insulation is needed.
Ceona names new chief executive
ona has appointed a new chief executive. Mark Preece will take up the helm at the subsea firm. He replace outgoing chief executive Steve Preston, who will retire after 40 years in the industry.