American Eagle Energy appoints chief financial officer
American Eagle Energy has appointed a new chief financial officer to the company. Martin J Beskow has taken up the role following the resignation of Kirk Stingley.
Other News
Occidental names Hollub first female chief exec of major oil company
Occidental Petroleum Corp. said Vicki Hollub, head of its oil and natural gas unit in the Americas, will be the first female chief executive officer of a major US oil producer. Hollub is taking over all of Occidental’s output before assuming the CEO position from Stephen Chazen “after a thorough transition period,” the Houston-based company said in a statement Tuesday.
Two workers dead in Gulf of Mexico rig accident
An accident on an offshore maintenance rig in the Gulf of Mexico has left two workers dead. The Troll Solution rig in the southern Bay of Campeche has been contracted to operate in Pemex's Abkatun-Pol-Chuc shallow water oil field. It was positioning itself to carry out maintenance on wells linked to the Caan Alf platform.
Offshore Europe shaping up for busiest year
Oil and gas companies are snapping up exhibition stands at this year’s Offshore Europe (OE) conference in Aberdeen as quickly as ever, despite the current downturn in the energy sector. OE’s spiritual sister on this side of the Atlantic – ONS Norway – was cancelled and just last week BP said it would not exhibit at the biennial OE conference this September, with the low oil price citied as a factor in both decisions. Concerns that OE could be a quiet affair this year appear to be unfounded, however.
Fisher Offshore appoints new technical director
An energy industry specialist has appointed a new technical director. Lee Hanson joins Fisher Offshore with more than 20 years' experience in the oil and gas industry.
Centre for Energy Policy launched by University of Strathclyde
The Centre for Energy Policy (CEP) is set to officially launch this week in Glasgow on the same week All-Energy 2015 arrives in Glasgow. The University of Strathclyde said the new facility will have the remit of challenging and informing policy analysis and decision-making in Scotland and globally. The launch, on Tuesday, May 5, will take place within the Technology and Innovation Centre - which as seen £89million worth of investment.
Survival training firm recognised for safety improvement efforts
A survival training firm has been recognised for its achievements in safety at this year’s IADC North Sea Chapter Awards. Falck Safety Services has received the accolade in honour of its safety initiatives, which have included schemes to improve safety performance and reducing risk in environmental, technical and operational settings, throughout the last 12 months.
Stetson Oil and Gas appoints new president
Stetson Oil and Gas has appointed a new president and chief executive. Fred Leigh joins the energy firm with more than 30 years’ experience in the industry where he has previously held titles such as founder and director.
Baron Oil signs loan agreement for Northern Ireland gas storage project
Baron Oil has signed a convertible loan agreement with InfraStrata for the Islandmagee gas storage project in Northern Ireland. The loan will specifically provide bridge financing for the imminent drilling of the project’s salt appraisal well. Baron will provide a secured loan of €1.8million to InfraStrata with an option to convert the loan balance in an equity participation of 15% in Islandmagee Storage Limited. The loan has an 8% interest coupon and is repayable by May 2016 and Baron has an option to extend the loan until December 31, 2016.
Church in fossil fuel exodus
The Church of England is to sell £12 million of its shares in fossil fuel companies. The Church, announcing a new climate change policy, also said it will no longer make any direct investments in companies that generate more than 10% of their revenue from extracting thermal coal or producing oil from tar sands. Welcoming the new policy Bishop Nick Holtam, the lead Bishop on the environment at the Church of England, said climate change is “the most pressing moral issue in our world”. The new policy will see more engagement between the church’s national investment bodies and the companies in which it holds shares, including fossil fuel producers.
Renewables boost for Global’s Nigg Energy Park
Tidal devices for the Meygen project in the Pentland Firth are to be built and tested at Nigg Energy Park in Easter Ross. Meygen owner Atlantis Resources said the decision to locate a new dedicated turbine assembly facility at the energy park – owned by Inverness and Aberdeen-based Global Energy Group – was the result of it agreeing to buy English firm Marine Current Turbines (MCT). MCT, currently owned by German conglomerate Siemens, is a company specialising in tidal-energy technology.
Japan to set emissions cut target
Japan is proposing to cut its greenhouse gas emissions by up to 26% by 2030 amid international efforts to set a new framework for addressing climate change. The final draft of the government target, released today, says Japan will aim to cut carbon dioxide emissions by 26% by 2030 compared to 2013 levels, or 25.4% from 2005 levels. That is below the US target of a 26-28% cut by 2025 from 2005 levels, and the European Union’s target of 40% from 1990 levels.
Intertek launches new oil and gas decommissioning services
Intertek has launched a new set of oil and gas decommissioning services to help manage costs and asset inventory. The quality solutions provider showcased the new service earlier this week. The company will complete and manage the applications and permits associated with decommissioning projects for regulators and stakeholders. They will also utilise the expertise of their labs in waste analysis to provide waste characterisation and ensure that pipelines are safe to prepare for removal.
Eurasia extends Schlumberger deal deadline
Eurasia Drilling has agreed to extend a deadline on a proposed deal to sell a stake to Schlumberger until May. The Russian company had originally set a deadline of this month.
Amec Foster Wheeler wins Sellafield radioactive waste contract
Amec Foster Wheeler has been awarded a multi-million pound contract to supply radioactive waste analysis to the Sellafield site in Cumbria. The agreement wll see company provide laboratory-based analysis to characterise waste from the site's extensive decommissioning programme and determine the radioactive and chemical make-up.
Unions blame Petrofac for Shetland woes
Union bosses have said energy service giant Petrofac is to blame for a 15-month delay in building Shetland’s £800million new gas plant. Last week, Petrofacc – chief contractor for the project – blamed bad weather and industrial action for the hold-up, which has already cost it nearly £300million. Almost £350million was wiped off Petrofac’s market value after the update and an accompanying profits warning.
Crew of ship seized by Iran ‘safe’
The operator of a Marshall Islands-flagged cargo vessel boarded by Iranian forces as it was traversing the Strait of Hormuz said it has confirmed the crew are safe. The company is still trying to determine why the ship was seized the previous day by the Islamic Republic. The MV Maersk Tigris was taken to Bandar Abbas, the main port for Iran’s navy, under escort by Iranian patrol boats, according to Maersk Line, the Danish shipping company that had chartered it. The incident comes at a critical time in Iran’s relations with the United States and the West amid talks about its contested nuclear programme.
Iranian authorities seize Maersk cargo ship with British man onboard
A British man is on board a cargo ship seized by Iranian authorities. He is one of 24 crew members on the Maersk Tigris, which was in international waters crossing the Strait of Hormuz en route from Jeddah in Saudi Arabia to Jebel Ali in the UAE when it was approached and seized by Iranian patrol boats. A spokesman for Denmark-based Maersk said they understand the “crew is safe and under the circumstances in good spirits”. A statement added: “We are continuing our efforts to obtain more information about the Iranian authorities’ seizure - in international waters - of Maersk Tigris. We are not able at this point to establish or confirm the reason behind the seizure.
GDF Suez changes its name as the company rebrands
There is a new name in the UK North Sea oil and gas industry after French energy giant GDF Suez changed its name to ENGIE. The rebranding was not trumpeted loudly by the Paris-based group on this side of the Channel but a major marketing campaign is under way in key markets, particularly France and Belgium. Engie has no specific meaning in French – websites describe it as a girl's name, a variant of Evangeline, of Latin and Greek origin and derived for words translating as “good” and “news”.
James Fisher Offshore snaps up business and assets of Specialist Subsea Services
Administrators for Aberdeen firm Specialist Subsea Services (SSS) said yesterday they had completed the sale of its assets and intellectual property to James Fisher Offshore (JFO), part of marine service company James Fisher & Sons, for an undisclosed sum. SSS, which was part of Norwegian group Reef Subsea, collapsed in February. A total of 77 jobs were lost immediately, with another five initially kept on as KPMG restructuring experts tried to find a buyer for the business.
Wood Group in consultation with staff over jobs
Wood Group could be making further reductions to its headcount. The company is understood to be in talks with staff members as it looks to lower costs during the oil price decline. Staff were informed of the potential changes during a town hall meeting.
Chesapeake Energy agrees to pay $25million compensation
Chesapeake Energy has agreed to a $25million compensation fund as part of a settlement deal on charges brought by the state of Michigan. The company had faced charges of antitrust and racketeering. A criminal antitrust trial which was underway in the US state has now been suspended as part of the settlement.
Downing Street warns BP it would oppose merger
The UK Government has warned oil giant BP it would oppose any foreign takeovers bids for the company. Shell’s recent takeover of BG has heightened speculation that BP could be the next company to be caught up in a wave of mergers since the oil price decline. According to reports, ExxonMobil could make a move for BP.
Production halted on four platforms after pipeline leak
Petrobas has halted production from four oil platforms off the coast of Brazil after a leak of about 7,000 litres of oil. The leak, which was believed to be coming from a pipeline linking them, was confirmed by the country's oil regulator ANP. The incident occurred in the Camorim field, 16 kilometres off the coast of the city of Aracaju.
Safety authority finds ‘fatality risk’ after investigation into man overboard
The PSA (Petroleum Safety Authority Norway) has warned a man who fell overboard from a mobile drilling unit could have been killed. The safety body has been investigating how a worker fell through a gap directly into the sea 13.5metres below from the drilling unit Scarabeo 8 in February this year. The incident had occurred when subsea personnel were preparing to bring the blowout preventer (BOP) back into service after about four weeks of maintenance. Two subsea engineers, who were working in the moonpool area at the time of the incident, entered the BOP carrier used to move he unit between the well centre and the parked position.