Renewable energy firm secures £51m debt facility

A renewable energy firm has secured a £51 million debt facility on the back of significant growth of its portfolio of projects.

News 7
The oil price drop has hit the North Sea but positives remain, writes Perry Gourley. Picture: Contributed

Less in reserve for North Sea as debate rages on

The value of Scotland’s oil and gas was a key debating point during the 2014 referendum but new estimates suggest much has changed since then.

News 2
Crown Ocean called on Bowleven chairman Billy Allan to 'step down now'. Picture: Contributed

Bowleven rebel seeks removal of chairman Billy Allan

Crown Ocean Capital, the rebel investor that this week succeeded in ousting five directors at oil and gas explorer Bowleven, is gunning again for its chairman.

Bob Ruddiman hails 'refreshing' progress on reviewing the tax regime for late-life oil and gas assets. Picture: Andrew Milligan/PA Wire

Bob Ruddiman: Welcome progress for decommissioning relief

The thorny issue of raising National Insurance for the self-employed proved a step too far for many Conservative backbenchers and resulted in this week’s dramatic U-turn and unceremonious ditching of Chancellor Philip Hammond’s Budget measure.

Atlantis Resources is led by CEO Tim Cornelius. Picture: Ian Georgeson

Atlantis Resources eyes French tidal power market

Atlantis Resources, the tidal energy company behind the ground-breaking MeyGen project in the Pentland Firth, is dipping its toe into the French power market.

Bowleven boss Kevin Hart has been ousted from the Edinburgh oil firm. Picture: Phil Wilkinson

Bowleven directors ousted after bitter investor battle

Kevin Hart, the chief executive of Edinburgh-based oil and gas explorer Bowleven, has been ousted after a bitter battle with a rebel investor.

News 3
Ecosse Subsea Systems has appointed Mark Gillespie as managing director. Picture: Contributed

Growth in pipeline as Ecosse Subsea names new boss

Ecosse Subsea Systems (ESS) has hired a new managing director as the Banchory-based group gears up for ­“significant growth” over the next five years.

Oilfield services companies have been hit by falling crude prices but there are grounds for optimism. Picture: Getty Images/iStockphoto

More M&A deals in the pipeline for oil services firms

Plans for two of the biggest names in the sector to join forces reflects the need to cut more costs but is also a sign of improving confidence, writes Perry Gourley.

Wood boss Robin Watson said it would be 'inappropriate' to put a number on potential job losses. Picture: Contributed

Wood tight-lipped on job losses under £2.2bn Amec deal

Oil and gas services giant Wood Group has agreed to buy Amec Foster Wheeler in a “transformational” all-share deal that values the rival engineer at more than £2.2 billion.

Africa-focused Bowleven faces a showdown with rebel investor Crown Ocean Capital. Picture: Contributed

Oil explorer Bowleven prepares for investor clash

Bowleven, the Edinburgh-based oil and gas explorer, faces a showdown this week as it hosts a critical shareholder meeting to determine its future.

The North Sea oil industry has been rocked by a collapse in prices since 2014. Picture: Hamish Campbell/TSPL

Remaining North Sea oil ‘less than half’ 2014 SNP prediction

The amount of North Sea oil still to be extracted is less than half of the figure the Yes campaign predicted ahead of 2014 independence referendum, an industry expert has said.

Energy 212
Cairn Energy chief executive Simon Thomson. Picture: Contributed

Cairn eyes end to India tax row as ‘busy year’ looms

Oil and gas explorer Cairn Energy is “very confident” that an arbitration panel will rule in its favour over a $1 billion (£823 million) tax dispute with the Indian authorities.

News 2

Budget: Tax breaks for North Sea to show ‘benefits of Union’

Philip Hammond will seek to reinforce the case for Scotland staying in the Union when he delivers the Budget today, by holding out tax breaks for the struggling North Sea oil industry.

Politics 103
Opposition parties criticised the case for Scottish independence. Picture: Andrew Milligan/PA Wire

Mixed outlook for offshore oil and gas industry

The UK offshore oil and gas industry is better placed after a two-year efficiency drive to vie for much-needed investment, but the basin still faces “considerable” hurdles, according to a study published today.

News 2
Africa-focused Bowleven will retain a 20% in the Bomono project. Picture: Contributed

Bowleven hails ‘milestone’ Cameroon project stake sale

Oil and gas explorer Bowleven has struck a deal to sell an 80 per cent stake in an onshore project in central Africa.

News 1
WeatherEnergy says there were a few 100 per cent wind power days in Scotland last month. Picture: John Devlin

Wind turbines ‘provided two thirds of Scots energy needs’

Wind turbines generated enough energy to cover two-thirds of Scotland’s total electricity consumption last month, according to figures.

Tech 48
North Sea oil and gas remains a significant part of the Scottish economy, although its contribution has declined sharply in recent years. Picture: Danny Lawson/PA Wire

How much is North Sea oil worth to the Scottish economy?

The North Sea energy sector has been at the heart of the Scottish independence debate since the SNP declared “It’s Scotland’s Oil” in a famous advertising campaign of the early 1970s.

Energy 31
The OGA report found an average delay of ten months for oil and gas projects. Picture: Danny Lawson/PA Wire

Most oil and gas projects are late and over budget

Less than a quarter of the new oil and gas projects on the UK continental shelf (UKCS) have been delivered on time since 2011, according to a report.

News 3
Renewable energy schemes have been included in the wider rates relief package. Picture: John Devlin

Ross McDowall: Qualified relief on renewable rates

The combined fury of Scotland’s licensed trade is enough to have anyone reaching for a drink, as the Scottish Government found out recently in the ensuing wrangle over the proposed changes to business rates.

News 3
Stoffel Vandoorne in action for the McLaren Honda Formula 1 team during winter testing in Spain. F1 technology could boost Scotland's energy sector. Picture: Dan Istitene/Getty Images

F1 technology could fast track North Sea industry recovery

North Sea oil and gas companies could “fast track” innovation in the struggling sector by learning from Formula 1 design teams, a racing expert has said.

Tech 2
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