Energy

Energy

Cairn Energy gears up for ‘eventful’ year of drilling

Oil and gas explorer Cairn Energy is eyeing an eventful year as it looks to start production in the North Sea and plans more drilling off the coast of west Africa.

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From left: ESS operations director Mo Petrie, managing director Mike Wilson and Handelsbanken corporate account manager Steven Rae. Picture: Simon Price

Aberdeenshire subsea group taps bank for growth drive

Ecosse Subsea Services (ESS) has secured a multi-million pound revolving credit facility with Swedish-owned bank Handelsbanken that it says will allow the subsea engineering specialist to bid for bigger renewables and power generation work.

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Tim Cornelius, chief executive of Atlantis Resources. Picture: Ian Georgeson

New Edinburgh arm to open more markets for tidal developer

Atlantis Resources, the tidal energy company behind the ground-breaking MeyGen project in the Pentland Firth, has set up a new division in a bid to extend its skill-base.

News 2
Centrica, led by chief executive Iain Conn, is cutting roles in its exploration and production team. Picture: Contributed

Energy giant Centrica to cut 25 jobs in Aberdeen

Scottish Gas owner Centrica has revealed that it is cutting 25 jobs in Aberdeen as it reduces its exploration and production division in the city.

News 2
The cost of scrapping redundant oil rigs could wipe out future North Sea tax revenues.

Scott Macnab: SNP faces a ‘post-oil’ financial dilemma

Scottish Government needs to come up with an economic case for independence which looks beyond fossil fuels, says Scott Macnab

Opinion 62
Nicoletta Giadrossi will also serve on Cairn Energy's remuneration committee. Picture: Contributed

Cairn appoints oil sector veteran as non-executive

Cairn Energy, the Edinburgh-based oil and gas explorer, today named sector veteran Nicoletta Giadrossi as an independent non-executive director.

News 1
'Dounreay Tri' is a proposed prototype facility that would pioneer the deployment of wind turbines in deep water.

Comment: Floating wind farm key to Scots sustainable energy

Wind turbines are already capable of producing more than Scotland’s entire electricity needs, but the nation is far from able to harness its full potential, so that it might continue to be a net exporter of power.

Opinion 14
Plexus chief Ben van Bilderbeek said the Aberdeen firm was 'well placed to hit the ground running'. Picture: Contributed

Plexus inks four-year wells agreement with Centrica

Oil and gas technology specialist Plexus Holdings has secured a four-year framework agreement to provide equipment to sector giant Centrica in Norwegian waters.

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Atlantis Resources chief executive Tim Cornelius. Picture: Ian Georgeson

Pentland Firth power project secures €20.3m EU grant

The consortium behind a pioneering tidal power project in the Pentland Firth have secured €20.3 million (£17.6m) of European funding.

News 5
Plexus boss Ben van Bilderbeek said the Middle East is a 'key area of focus' for the Aberdeen firm. Picture: Contributed

Aberdeen’s Plexus secures fresh Oman wellhead contract

Plexus Holdings, the Aberdeen-based oil and gas technology company, has landed a second contract – worth about $285,000 (£231,400) – with a customer in Oman.

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The report warned of further insolvencies among oil and gas companies. Picture: Andrew Milligan/PA Wire

Record number of oil firms collapsing as slump bites

The number of UK oil and gas companies going insolvent has reached an all-time high following the slump in prices.

News 2
BP is expanding its fuel operation in Australia. Picture: Ian Rutherford

BP fuels up Down Under with £1.1bn Woolworths deal

BP has splashed out $1.3 billion (£1.1bn) on the fuel business of Australian retailer Woolworths in an effort to drive growth amid enduring pressure from low oil prices.

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Bowleven focuses its efforts on the African oil and gas arena. Picture: Contributed

Bowleven parts company with exploration director

Edinburgh-based oil and gas group Bowleven today said that its exploration director is leaving the company “by mutual agreement”.

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Global Energy Group chairman Roy MacGregor. Picture: Jeff Holmes/SNS Group

Global Energy Group profits fall on restructuring

Inverness-based Global Energy Group has seen sales and profit drop in its latest full-year results, but said its performance was resilient given market difficulties and its restructuring in the period.

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Sikorsky S92 helicopters are frequently used for off shore flights to North Sea rigs. Picture: Danny Lawson/PA Wire

Faroe fuels growth plans with £295m funding facilities

Oil and gas producer Faroe Petroleum has signed to new banking facilities, worth about £295 million in total, which it said would underpin its growth plans.

News 2
BP's west Africa deal shows divestments are not the only game in town, writes Martin Flanagan. Picture: Gareth Fuller/PA

Martin Flanagan: BP oils up the deal wheels again

Much has been talked about the malaise in the energy sector.

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BP chief Bob Dudley hailed the 'exciting strategic opportunity' off west Africa. Picture: Dominic Lipinski/PA Wire

BP invests $1bn in huge gas field off west Africa

Oil giant BP is investing almost $1 billion (£800 million) into a “world-class” gas field off the coast of west Africa in its second big deal within days to boost reserves.

News 5
Mackie's MD Mac Mackie at his firm's solar farm in Aberdeenshire - the largest privately-owned facility of its type in the country. Picture: Contributed

Scotland’s largest private solar farm a shining success

Scotland’s largest privately owned solar farm is on track to record just under 1.5 million kilowatt hours in 2016, its first year in operation.

Environment 7
Keeping hold of customers was 'no mean feat' for the Scottish Gas owner, writes Martin Flanagan. Picture: John Devlin

Martin Flanagan: Warm glow at Centrica as customers stay put

A bit of pre-Christmas City cheer from Centrica, with the revelation that the Scottish Gas owner has lifted its full-year earnings outlook and stemmed the flow of customers switching to other energy suppliers.

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