Thousands more steel jobs could be lost if action is not taken to tackle the threats facing the industry’s “vulnerable” supply chain, the Government is being warned. The International Steel Trade Association (Ista) said scores of medium sized firms were at risk if the crisis gripping the industry escalates. Thousands of job losses have been announced in recent weeks by Tata Steel and SSI in Redcar, Scunthorpe and Scotland, with cheap imports and high energy costs being blamed.
Transocean has reached an agreement with the state of Alabama for a $20million settlement following the 2010 Deepwater Horizon disaster. The decision was announced earlier this month by Governor Robert Bentley who said the region had suffered “tremendous” losses since the spill five years ago. He said the agreement with Transocean was a “positive” step forward as the state continued to recover.
Canadian housing starts will decline in the next two years on a weaker economy and with builders seeking to avoid oversupply, the federal housing agency said. The pace of work on new homes will fall to 178,150 units in 2016 from 186,900 this year, Canada Mortgage & Housing Corp. said Monday from Ottawa, and again to 173,650 units in 2017.
Unique Group, the subsea and offshore services company, has acquired Oceanwide Safety at Sea for an undisclosed sum.
Testing and inspection specialist Intertek has acquired US-based MT Group, giving the company closer access to the US high-growth construction markets.
Power company APR Energy has agreed a takeover by a consortium in a £165million deal.
Floating wind turbine technology is well placed to help oil and gas operators reduce the cost of recovery from reservoirs using water injection, according to an industry expert. A new joint industry project - Win Win - being led by DNV GL, has brought together oil majors including ExxonMobil, ENI, Statoil, Nexen and VNG to share knowledge and pursue water injection in subsea reservoirs delivered by wind-power rather than traditional gas turbines. The technology is seen as being cost-efficient, able to reduce an oil platform's carbon footprint and offers opportunities for one turbine to be used on multiple wells.
A Nigerian court declared the election of a governor in one of the country’s oil hubs as invalid due to irregularities. A fresh vote has been called for within three months in the Rivers State region as concern is raised it could lead to tension. It comes after former militants in the southern region said they might resume a fight for a greater share of oil revenues if President Muhammadu Buhari ends an amnesty due to expire in December.
Offshore wind schemes could be built without subsidies in a decade with clear support from the UK Government, the head of Europe’s biggest renewables company has said. The most recent awards of clean power subsidies saw guaranteed payments for offshore wind of £114 to £120 for each megawatt hour of electricity generated, more than double the wholesale electricity price and much more expensive than onshore wind farms.
Campaigners are calling on householders to help elderly friends and relatives find cheaper energy deals after finding that almost nine in 10 bill payers did not switch in the last year. The new figure from Ofgem, based on data from household meters, found that 88% of energy customers have not switched in the last year despite widespread advice that doing so can save hundreds of pounds. A separate poll for Big Energy Saving Week, a joint campaign with Energy Saving Trust, Department of Energy and Climate Change and Citizens Advice, found 45% of people did not believe they could save money by switching and 75% of people who did thought it would be £100 or less.
George Osborne has defended the UK’s desire to have close ties with China, despite the controversies over human rights and steel dumping that have been raised during the state visit.
Maybe it's the pope. Or the freakish year in extreme climate records.
Aviation students can now apply for an opportunity to attend the 12th-annual CHC Safety & Quality Summit in Vancouver, through grants which honour Dr. Peter Gardiner, a long-time advocate of excellence in aviation safety training.
Regulators in North Dakota have given approval to a credit system for oil producers collecting more natural gas than required from their wells. The move is a bid to curb flaring, according to reports.
Fracking could have a detrimental impact on the North-east oil and gas industry, an Aberdeen academic has warned. The onshore fracking process has led to huge public protests over the potential environmental impact of blasting gas from shale rock using water and sand, including a major demonstration at Barton Moss in Greater Manchester. Professor of petroleum accounting at Robert Gordon University, Alex Russell, has said fracking could have a hugely detrimental impact on Aberdeen’s position as Europe’s oil and gas capital.
A busy Offshore Europe event delivered “staggering” occupancy levels for Aberdeen hotels, but failed to reverse an ongoing decline due to the oil price crash, new figures show. In what is the first report on the Granite city’s hotel trade for the key month of September 2015, LJ Research found that room occupancy fell 12.8% despite reaching 99% capacity halfway through oil week. The report also found that hotel room yields in the month were down 13.8% on September 2013 – the last time Aberdeen hosted the biennial oil and gas event.
The grandchildren of a British man who reportedly faces 350 lashes for breaking the law in Saudi Arabia have appealed directly to David Cameron as “his only hope”. Karl Andree, who has battled cancer and suffers from asthma, was arrested in Jeddah in August last year for breaching the country’s strict anti-alcohol laws after he was caught with home-made wine. The 74 year old has served his time in jail but is still locked up as Saudi officials wait to carry out the lashings, according to his son Simon Andree.
The "reality" of a potential strike in the North Sea industry is now hitting companies, according to a top industrial relations expert.
Petrobras has cancelled an ongoing tender for heavy and medium helicopters used in its offshore operations. Era Group said Aeroleo Taxi Aero, its Brazilian joint venture, had received notification after Petrobras has carried out a review of its aviation needs. It was concluded no additional contract was needed amid the challenges of the current marketplace.
Chinese investment in the United Kingdom is producing winners and losers as the superpower ploughs billions into Britain and UK companies sign deals for new business in the Far East, but whose cheap steel has contributed to the loss of thousands of jobs.
The concept of using wind power for offshore oil and gas applications has taken a step forward after several oil majors signed up for a joint industry project to explore the technology.
A US Senator has called on the Department of Justice to investigate an alleged fraud by ExxonMobil over what it knew and told the public and shareholders about the cause of climate change. Senator Bernie Sanders has written to Attorney General Loretta Lynch to ask for a probe into what he alleges as a “potential instance of corporate fraud” by the oil giant. In his letter the politician refers to reports from an investigation by Inside Climate News, which says that scientists from the company conducted extensive research on climate change as early as the 1970s.
Nigeria’s government plans to split an oil- industry bill stuck in parliament for seven years and resubmit it to lawmakers after it held up reforms and deterred investment in Africa’s largest crude producer, Vice President Yemi Osinbajo said. Breaking up the Petroleum Industry Bill, or PIB, into smaller laws focused on fiscal and regulatory measures in Nigeria’s energy industry would make it easier to pass through parliament, he said. The bill, first presented to parliament in 2008, will be resent to lawmakers in the first quarter of 2016.
A mathematical technique developed to test the efficacy of nuclear bombs is being used by a Scottish company to predict the reliability of vital equipment on North Sea oil rigs.
MOL Group has signed a deal to acquire Eni's business in Hungary. The company said the move would contribute to MOL's growing retail presence within the supply radius of its refineries.