North Sea Oil & Gas

North Sea Oil & Gas

National Grid picks Wood for CO2 study

WOOD Group, the Aberdeen-based oil and gas support services giant, yesterday revealed it had won a contract from National Grid to develop a system for storing carbon dioxide under the seabed.

SNP and wildlife charity accused of ‘scaremongering’ over isles’ tugs

The Scotland Office has accused an environmental charity and the SNP of “irresponsible scaremongering” over their criticism of a decision to withdraw funding for two emergency tugs.

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Wood Group shares boosted by ‘robust’ update

SHARES in Wood Group jumped 7 per cent yesterday after the firm declared that its order book was “robust” and that it is on course to hit full-year targets.

Amec seals deal on North Sea contract

Amec, the engineering and project management group, has secured an eight-figure contract on GDF Suez’s Cygnus field, described as “one of the most significant undeveloped gas fields in the North Sea”.

RBG swallowed by Stork in multi-million pound move

ONE of Scotland's largest privately held energy services companies has been snapped up by a Dutch firm in a deal that is expected to net its chairman tens of millions of pounds.

Wood Group to return £1.05bn to shareholders

OIL services giant Wood Group yesterday outlined how it plans to return £1.05 billion of cash to shareholders in a move which will see the founding family and charities raise at least £123 million by cutting their stake in the company.

Allied uses £2m funding for move north

Allied International UK, the Grangemouth-based oil and gas pipeline components maker, is to open an Aberdeen office after securing a £2 million funding package from Clydesdale Bank.

Faroe bosses pocket 100% bonuses

DIRECTORS at Faroe Petroleum, the Aberdeen-based oil explorer, pocketed bumper bonuses last year after a strong exploration campaign.

Cross still has an eye for goal

The entrepreneur might have been a footballer but blazed a trail in oil and has ambitious plans for growth

Cross plans North Sea acquisitions

OIL millionaire Tom Cross expects to make a number of North Sea acquisitions "within weeks" after yesterday unveiling his first major deal at Parkmead since he joined in November.

Wood adds voice to concerns over tax hit on North Sea investment

WOOD Group, the Aberdeen-based energy services heavyweight, yesterday warned of the potential for clients' projects in the North Sea to be delayed as "field economics" are reassessed in light of the Chancellor's tax raid.

Oil and gas industry's trust in coalition at 'all-time low'

TRUST between the oil industry and the UK government has hit an all-time low following the tax grab on company profits, it has been claimed.

Gordon to take the helm at Subsea UK

The industry body representing the UK's subsea sector has named Neil Gordon as its new chief executive.

Nothing to Xcite as shares fall on report

OIL explorer Xcite Energy, one of Scotland's most hotly followed companies, yesterday lost a quarter of its market value as the market reacted badly to lower than expected estimates of reserves in its North Sea field.

Xodus widens its renewables arm with Ingram deal

FAST-EXPANDING engineering consultancy Xodus has bought a Welsh firm specialising in renewables.

John Forrest branches out with EPC

Oil and gas industry veteran John Forrest has been appointed to the board of Aberdeen-based EPC Offshore.

Centrica threat to close gas field over 'tax raid'

SCOTTISH Gas-owner Centrica has refused to rule out permanently closing down the UK's biggest gas field because of the Chancellor's controversial tax raid on North Sea energy firms.

Shell may have to sell North Sea assets after tax raid

ROYAL Dutch Shell warned yesterday that it may have to sell some assets in the North Sea and reduce investment in the region because of the Chancellor's tax raid and higher industry decommissioning costs in the Budget.

Final bid to block North Sea tax raid

OIL and gas industry leaders will this week make a final attempt to thwart Chancellor George Osborne's North Sea tax raid which they fear will cost jobs and investment.

Oil boss warns that major investors may abandon North Sea

THE head of one of the newest North Sea oil giants yesterday warned that government policy could drive away ambitious companies from taking a stake in British waters and developing the industry's ageing major assets.

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