Brent swings near $40 as falling US rigs counter Iran output

Brent crude, the global benchmark, swung between gains and losses near $40 a barrel as a dwindling rig count in the U.S. countered Iran’s plans to expand production. Futures in London rose and fell by at least 0.5 percent. Active U.S. rigs dropped to… Read More

Budget 2016: Alex Kemp – Tax breaks pave way for major North Sea development boost

A leading oil and gas expert said last night that tax breaks could significantly boost new field development across the UK North Sea. Alex Kemp, professor of petroleum economics at Aberdeen University, said his latest study – co-authored by col… Read More

Budget 2016: Osborne could put an end to freelancer tax loophole

New measures to plug a tax loophole widely exploited in the public sector to disguise employees as freelancers could be used to tackle similar practice in the oil and gas industry. Chris Sanger, head of tax and policy at global accountancy giant EY, … Read More

Budget 2016: Call for new agency to rescue platforms from early decommissioning

Kezia Dugdale today called on the UK Government to “step in and share the risk” by setting up a new agency to rescue platforms from early decommissioning. Ahead of the Budget, the Scottish Labour leader urged the chancellor to offer “real support” to… Read More

Trinity’s $20m sale falls through, firm looks to refinance

Trinity Exploration and Production has been forced begin talks with refinancing advisers after its $20million asset sale fell through. The firm today confirmed its deal with Touchstone Exploration for the WD-2, WD-5/6, WD-13, WD-14 and FZ-2 licenses … Read More

Budget 2016: Cut North Sea tax, demands top Tory

This week is a vital one for the North Sea, and the thousands who depend on it for their jobs. On Wednesday, the chancellor will unveil his Budget for the next 12 months. It’s absolutely crucial that we see more support for the oil and gas sect… Read More

Oil and gas sector downturn continues after drop in orders

Oil and gas firms experienced a drop in orders last month as the downturn in the sector continues to hit Scotland’s economy. The Bank of Scotland recorded a decline in activity in February - the first in three months. The post Oil and gas sector down… Read More

Eni confirms production start-up from Norwegian first

Eni confirmed it had successfully started production on its landmark Goliat oilfield, two years after its initial first oil target day. The project is the first oilfield to start producing from the Norwegian sector of the Barents Sea. Goliat, which w… Read More

Guest Editor: Derek Leith – The difference a year makes

As anticipated 2015 proved to be a difficult year for both oil and gas companies and the supply chain companies that make up the oilfield services sector. The average price of a barrel of Brent crude in 2015 was $52.35 dollars, less than half of the … Read More

Massive protest pile more pressure on Brazil’s president

Huge demonstrations across Brazil have heaped even more pressure on embattled president Dilma Rousseff as she heads into a fight against impeachment proceedings. According to police estimates, three million people took to the streets in 200 cities, c… Read More

Swinney warns Chancellor against ‘unnecessarily stringent’ fiscal targets

Scotland’s Deputy First Minister has warned the Chancellor against continuing to pursue “unnecessarily stringent fiscal targets” ahead of the Budget on Wednesday. John Swinney urged George Osborne to instead use limited borrowing to stimulate economi… Read More

SNP opponents accused of ‘celebrating the fall of oil’

Deputy First Minister John Swinney last night accused the SNP’s opponents of “celebrating the fall in the value of oil”. The Scottish finance secretary made the remarks in his closing speech to the party’s spring conference in Glasgow as he updated a… Read More

North Sea expertise helps mend London’s creaking sewage system

Subsea experts swapped the hazardous conditions of the North Sea for inner city London’s river network in a project highlighting the potential for oil and gas industry diversification. The work saw specialists from energy service company Neptune appl… Read More

Iran on oil freeze: ‘Leave us alone’ until output higher

Iran plans to boost crude output to 4 million barrels a day before it will consider joining other suppliers in seeking ways to rebalance the global oil market. “They should leave us alone” until then, Oil Minister Bijan Zanganeh said, according to th… Read More

Xcite Energy races against financial fall-out clock

Xcite Energy is in a race against financial fall-out as it tries to avoid becoming the latest casualty amid the continued low oil price. The company is facing a $139million bond repayment in June but is currently struggling to meet its obligations. A… Read More

The Press and Journal
PO Box 43
Lang Stracht
Mastrick
Aberdeen
United Kingdom
AB15 6DF

View as plain text

View in your browser

If you believe this has been sent to you in error, please safely unsubscribe.