Energy giant BP has struck a deal to sell £475 million worth of North Sea assets to Premier Oil.
Engineer Weir has warned over profits in its oil and gas division and revealed a fifth of its US workforce has been axed as it battles against tough trading in America.
Cairn Energy will be “pleased” with its improved performance after posting a loss of over £800 million as recently as March, according to wealth management firm Brewin Dolphin.
The Aberdeen operation of wealth manager Brewin Dolphin reflected a “robust” performance by the group during the year to September 30, the firm’s head of office in the Granite City said yesterday.
The North Sea is “suffering” due to firms looking to more attractive regions of the world to invest, according to an analyst.
These may seem like uncertain times for your finances.
The tide appears to have turned for oil. This time last year, the oil and gas industry appeared to be drowning in a commodity price which seemed destined to hug the $50 mark for some time. Further back, in January 2016, it went as low as $30.
An analyst has said “the numbers are going to look very impressive” for oil majors Shell and BP when they publish their first quarter results this week.