Hurricane Energy launches recruitment campaign for senior leader

Hurricane Energy has launched a recruitment campaign for a chief financial officer. It comes after the planned retirement of Nicholas Mardon-Taylor on January 31. Chief executive Robert Trice said: “Nicholas has been with Hurricane from the sta… Read More

Plexus issues earnings warning as North Sea business takes hammering

Plexus has issued a significant earnings warning ahead of its half year results, saying its North Sea business has struggled to weather the oil price storm. The firm, which is expected to give its full results in March, said its revenue for the first… Read More

Industry making same downturn mistakes, says new report

The oil and gas industry is falling victim to the same mistakes, a new report has said. The majority of senior oil and gas professionals (56%) feel the industry is repeating past transgressions in the current downturn and have concerns regarding the … Read More

Pemex evacuates platform after fire breaks out

Pemex was forced to evacuate a platform in its top producing oilfield after a fire broke out in the machine room. The firm confirmed on its Twitter account that 97 employees were called to muster on its Zaap E platform located in the southern edge of… Read More

Simple steps to protecting yourself should redundancy come calling

The oil and gas crisis has left thousands of people out of work. Allan Gardner, financial services director at Aberdeen law firm Aberdein Considine, highlights some of the financial implications of losing your job. The falling oil price has had a dev… Read More

Oil swings near $32 after biggest two-day rally in seven years

Oil fluctuated near $32 a barrel after the biggest two-day rally in more than seven years. Futures slid as much as 0.8 percent and gained as much as 1.4 percent in New York. Front-month prices capped a 21 percent advance over two sessions at the clos… Read More

Corporate insolvencies down despite late surge in 2015

The number of failing businesses reduced in Scotland last year, insolvency figures show. KPMG revealed the number of corporate insolvencies in 2015 stood at 902, a 4% decrease on 2014 figures when there were 943 insolvencies. However, the final three… Read More

Indian takeover for Aberdeen subsidiary of collapsed subsea firm

An Aberdeen firm whose parent collapsed into administration amid the growing oil and gas crisis is under new Indian ownership. Energy sector engineering consultancy Project Development International (PDi) has been acquired by Tattva International Hol… Read More

Bosses in show of confidence over future oilfield service industry

A survey of 200 senior bosses of firms with operations or investments in the UK oilfield service industry has delivered a huge show of faith in its prospects. Nearly all of the people questioned predicted an eventual return to peak levels of profitab… Read More

Complaints about energy firms rose 23% last year

Customer complaints about energy firms leapt by almost a quarter last year, the Energy Ombudsman has said. Grievances by consumers jumped by 23% to 65,168 last year, compared to 52,937 in 2014, said the independent adjudicator of disputes between the… Read More

Aberdeen technology firm leaves investors £70million out of pocket

Technology firm Gas2 has left investors £70million out of pocket after going bust. The Aberdeen-based firm owed a string of creditors, including Robert Gordon University and Scottish Enterprise, millions when it called it quits last October. New docu… Read More

The Saudi debt secret that US treasury has kept for 41 years

It’s a secret of the vast U.S. Treasury market, a holdover from an age of oil shortages and mighty petrodollars: Just how much of America’s debt does Saudi Arabia own? But now that question — unanswered since the 1970s, under an unusual blackou… Read More

Saudi Aramco may open IPO to foreigners as it keeps output high

Saudi Arabian Oil Co. is pumping at high levels as it sees demand growing, and the state-run company may open a possible share offering to international investors. Saudi Aramco, as the world’s largest oil business is known, is still considering “all … Read More

North Dakota murder-for-hire trial due to start

The trial for an oil truck operator charged with masterminding the murders of an employee and business partner in North Dakota’s Bakken basin is due to start tomorrow. James Henrikson faces a raft of charges, including multiple felony counts of consp… Read More

Shareholders expected to seal BG, Shell deal this week

The biggest oil and gas deal in a decade is expected to get the nod of approval from shareholders this week. Shell’s takeover of BG will create a £122.5billion British giant. The deal, which was originally proposed amid a steady oil price backdrop, i… Read More

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