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First Oil administrators begin sell off as Cairn and EnQuest step in

Administrators have begun the task of securing what they can following the demise of Aberdeen oil company First Oil. Cairn Energy and EnQuest have increased their holdings in the Kraken oil project in the UK North Sea, buying out First Oil’s 15% stak… Read More
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Les Linklater: Dear Mr Anonymous……

The past month has been an interesting one. We’ve been the recipient of an anonymous letter, there has been commentary on anonymous reporting in the Scottish Parliament Economy, Energy and Tourism Committee’s recent publication, and we have been paid… Read More
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Top banker brings some cheer to beleaguered North Sea oil industry

Oil prices are on their way up and there is no new financial crisis about to derail recovery in the global economy, a top banker said on a visit to Aberdeen. William Hobbs, head of investment strategy, UK and Europe, at Barclays, declined to guess wh… Read More
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For Exxon and Shell the age of the ultra-major comes at wrong time

The $64 billion tie-up of Shell with BG Group and the steady growth of Exxon Mobil re creating a new league of two: the ultramajors. Executives at smaller companies are even starting to joke that Chevron Corp., Total SA, BP Plc, ConocoPhillips and EN… Read More
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Petrofac profits battered by Laggan Tormore and oil slump

Petrofac profits have been hit by a double whammy of low oil prices and accounting for a loss from its Shetland Islands project. Profits fell by nearly a quarter, as its customers held back on spending due to the slump in oil prices and the impact of… Read More
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Timelapse Video: Marathon Oil installs 5,800-tonne topside

Ever wonder what it’s like to install a 5,800-tonne topsides at sea? This timelapse video shows the installation of Marathon Oil’s Alba B3 compression platform, designed to extend the life of the firm’s Alba asset in Equatorial Guinea. The platform c… Read More
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North Sea hits “super-maturity” as Oil & Gas UK calls for big tax cuts

The UK North Sea has become a “super mature” field, experts have claimed, as a new report lays bare the effect of the oil price crash on the economics of the basin. Trade body Oil and Gas UK (OGUK) issued a plea to Chancellor of the exchequer George … Read More
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Opinion: Navigating the black expanse of $30 oil

Where do efficiency savings and productivity gains come from when the obvious wastage is eliminated? When the headcount requires no more than a couple hands and a foot? That’s the question facing many of us now as the black expanse of $30 oil spreads… Read More
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© Aberdeen Journals Limited. 2016

The Press and Journal
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Lang Stracht
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