The Canadian Government has cleared the way for state oil firm China National Offshore Oil Corporation to gain access to the North Sea after approving its takeover of Nexen.
producing oil field
Scottish Secretary Michael Moore said yesterday that foreign investment in the North Sea would help UK oil and gas service firms to export their expertise.
A US senator has called for a Chinese oil firm's bid for North Sea oil and gas operator Nexen to be blocked until China agrees to let more American goods into its markets.
Faroe Petroleum said yesterday it would pay £60million and farm out a 20% interest in three Atlantic Margin exploration licences to acquire an 18% interest in the Blane oil field.
ABERDEEN company Argon Isotank has invested £1.5million in new premises and equipment in the Altens area of the city.
Dana Petroleum, the Aberdeen-based oil and gas operator, said yesterday that its Dana Petroleum Norway subsidiary had been awarded interests in eight Norwegian offshore blocks.