houston

Markets

Houston energy firm files for bankruptcy protection

US energy firm - oil and gas explorer BPZ Resources - is filing for Chapter 11 bankruptcy protection, citing the plunge in oil prices and its inability to find financing. Houston-based BPZ said it wanted to stay in business as it revealed it was filing its petition for bankruptcy reorganization in the US Bankruptcy Court for the Southern District of Texas.

Americas

Wood Group’s US branch to work on billion dollar Texas project

An Aberdeen-based oil and gas company's US branch will work with one of the world's largest petrochemical companies during their multi-billion dollar Texas expansion. Wood Group's Mustang's Automation and Control business unit is providing process control systems, detailed engineering, procurement and fabrications services for the huge project by ExxonMobil Chemical Company.

Oil & Gas

The world wants Scottish oil and gas expertise, SDI says

Scottish oil and gas expertise is as highly regarded around the world as people in this country like to believe, according to new research findings. More than 260 senior industry leaders from around the world took part in the Scottish Development International (SDI) survey, which highlights the influential role of Scots in key energy centres such as Houston, Calgary and Perth. Nearly four-fifths (78%) highlighted Scotland's important role in the global industry, with almost as many (74%) recognising it as one of the world’s best training grounds for the sector. Nearly three-quarters (71%) said Scottish employees were among the most experienced and dependable.

Americas

BP to reduce headcount in Houston

BP will be reducing its headcount in Houston as it makes job reductions throughout its global operations. The oil major, which has already announced redundancies in the North Sea and Azerbaijan, has not revealed how many jobs will be lost. According to reports a number of employees were informed this week there jobs would be lost.