Babcock took a £5.2million hit for “loss-making contracts” for its North Sea helicopter business in the 2020 financial year.
The CEO of NHV hopes the restoration of oil prices can help the beleaguered helicopter market “to a more sustainable situation”.
The Government's plan to establish the UK shale gas industry through the controversial process of fracking is taking longer than expected, a new report has said.
Helicopter operator Babcock has said “continued commercial pressures” saw its UK offshore oil and gas business swing to a loss last year.
A new pro-shale gas group has been launched in England.
The UK's national fracking college has received £5.6million in UK Government funding.
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.
Cuadrilla said it plans to appeal a decision by Lancashire County Council to refuse planning consent for two licences for temporary shale gas exploration sites. The energy firm had wanted to frack and test the flow of gas following drilling at up to four exploration wells at a proposed site between Preston and Blackpool. Prior to last month's decision planning officials at Lancashire County Council recommended its approval, subject to a number of conditions being met, but councillors chose to ignore the advice and rejected it due to adverse impacts on landscape and noise.