Energy

Energy

Shell earnings boosted by higher oil and gas prices

Royal Dutch Shell has reported a large rise in second-quarter profits after the energy giant was boosted by higher oil and gas prices.

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Atlantis Resources chief Tim Cornelius is considering follow-on bond offerings. Picture: Jon Savage

Tidal specialist Atlantis Resources hails £5m bond offer

Marine power pioneer Atlantis Resources has welcomed its initial bond offering, raising the target amount of £5 million.

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ScottishPower and SSE are facing tough competition from smaller rivals. Picture: Andrew Milligan/PA

‘Big six’ energy firms SSE and ScottishPower shed customers

Scots utility giants SSE and ScottishPower have lost hundreds of thousands of customer accounts as households continue to switch away from the “big six” players to smaller rivals.

News 4
Centrica will own 69% of the new company. Picture: Scott Barbour/Getty Images

Centrica strikes joint venture deal with Norwegian operator

Scottish Gas owner Centrica has struck an agreement to combine its European oil and gas exploration and production (E&P) divisions with Norway-based producer Bayerngas Norge as part of a joint venture.

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Weir said annual earnings at its oil and gas division should beat City forecasts. Picture: John Devlin

Weir Group boosted by upturn in North American markets

Engineering group Weir has seen its oil and gas division boosted by a stronger-than-expected recovery in its North American upstream markets.

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ScottishPower chairman Ignacio Galan with First Minister Nicola Sturgeon at the official opening of the company's new headquarters in Glasgow. Picture: Chris James/ScottishPower/PA Wire

ScottishPower investing £4m a day as new Glasgow HQ opens

Energy giant ScottishPower has revealed that its daily investment has increased to £4 million through to 2020, totalling about £8 billion, as it looks to “future-proof” the UK’s electricity system.

News 5
Pinsent Masons' Becca Aspinwall says combining solar panels with battery storage can create a new revenue stream for homes and businesses. Picture: Contributed

Becca Aspinwall: Batteries are new Holy Grail for renewables

Battery storage is set to play a key role in National Grid’s (NG’s) ­balancing act of ensuring ­energy supply and demand matches the daily needs of UK homes and businesses.

News 1
Nova Innovation said the project marked a 'huge vote of confidence' in the Edinburgh firm. Picture: Contributed

Edinburgh tidal power firm Nova Innovation heads EU project

Tidal energy outfit Nova Innovation is to take part in a flagship €20 million (£17.6m) European project.

News 7
Even if the North Sea goose no longer lays golden eggs, it still sustains jobs, says Brian Wilson

Brian Wilson: We dodged a North Sea bullet with No vote

It is impossible to avoid the conclusion that Scotland avoided a devastating financial bullet after the Scottish Government’s 2013 oil revenue projections, argues Brian Wilson.

Opinion 66
ShareIn's technology will help renewable energy projects secure funding. Picture: Contributed

Crowdfunding tech firm ShareIn aims to boost community power

Crowdfunding technology specialist ShareIn is supporting the launch of a venture that allows online investment in community energy projects.

Financial
Production from the Mariner field is expected to begin in the second half of next year. Picture: Contributed

New Shetland oilfield to support 1,500 North Sea jobs

About 1,500 jobs will be supported by the next phase of a major North Sea development by oil and gas firm Statoil.

News 2
North Sea oil industry cost the taxpayer �312 million, according to HMRC.

North Sea oil industry cost taxpayers more than £300 million

The North Sea oil industry cost taxpayers £312 million last year, the worst since records began nearly 50 years ago.

News 88
Simon Heyes is the new chief executive of Kite Power Systems. Picture: Contributed

High-level hires at Glasgow-based kite energy innovator

A Glasgow-based company developing kite power generation technology has bulked up its senior management team with a raft of top-level appointments.

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Wood Group said the North Sea has seen a further decline in projects and modifications work. Picture: Contributed

Wood Group ‘cautious’ amid weaker North Sea activity

Energy services giant Wood Group today said it was adopting a “more cautious” outlook for the remainder of the year after seeing a weaker-than-expected performance during the first half.

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Petrofac CEO Ayman Asfari. Picture: Andrew Shaw

Petrofac hails positive start to year despite SFO probe

Petrofac has made a “positive start to the year” despite seeing its backlog of work slip and remaining under investigation by Britain’s fraud squad.

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Kraken is estimated to contain about 140 million barrels of oil. Picture: Contributed

‘Landmark’ as first oil flows from North Sea’s Kraken

The Kraken project, one of the largest developments in the North Sea has delivered its first oil in a move hailed as a “landmark” by the UK government.

News 2
Responsible business makes economic sense

Responsible business makes economic sense

A green business does not have to be a luxury.

Management
Electric vehicles are likely to speed the transition away from oil. Picture: Michael Gillen

Mark Flynn: Weaning the world from its love affair with oil

With the oil price stuck in a rut, Mark Flynn, director at Barclays in Aberdeen, takes a look at the potential direction of travel and the wider knock-on effects

News 1
76 workers have been flown off a North Sea oil platform. Picture; PA

BP’s North Sea platform evacuated with 76 workers flown off

More than 70 people have been flown off a North Sea platform after it suffered a loss of power.

Energy
The Oil & Gas Technology Centre is led by chief executive Colette Cohen. Picture: Ross Johnston/Newsline Scotland

Oil & Gas Technology Centre pumps £1.6m into projects

Aberdeen’s Oil & Gas Technology Centre has approved investment of more than £1.6 million in new projects, just four months after opening for business.

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