UK Offshore Wind Attracts Investments
Power companies including Ørsted, Vattenfall, Innogy, SSE and Scottish Power and financial investors such as infrastructure and pension funds are active in UK offshore wind power, said Deloitte.Japan, China and other countries in Asia are also showing increasing interest in the market…
O&G Skills Requirements Shifting
Action is needed now to retain, retrain, recruit and renew the workforce in a rapidly changing UK oil and gas sector.These are the findings presented by energy skills body OPITO, who has set out a strategy to prepare the UK oil and gas…
Reabold Signs Rig Contract for West Newton Well
UK-based Reabold Resources said Rathlin Energy UK Ltd has signed a rig contract for the onshore UK West Newton appraisal well.The appraisal well at West Newton will have two objectives. The first objective is to appraise the Kirkham Abbey Formation gas discovery which has a 72 per cent.
India's Small Renewables Firms Fighting Consolidation Wave
Small to mid-sized renewable energy companies in India are starting to look like attractive takeover targets as lenders and investors withhold funds, worried by the stiff competition, weak bond markets, low tariffs and high debt besetting…
UAE's Stanford Marine in Talks to Restructure $325 mln in Debt
Stanford Marine Group <IPO-SFMG.L>, majority owned by a fund managed by private equity firm Abraaj Group, is in talks with banks to restructure a $325 million Islamic loan, banking sources said. The Dubai-based oil and gas services firm…
Endeavour Energy Kicks Off North Sea Assets Sale
Endeavour Energy UK has launched the sale of its North Sea oil and gas assets at an ambitious price target of $500 million, according to two industry sources and a document seen by Reuters. The sale is part of group asset sales after Endeavour's U.S.
US Oil Industry Set to Break Record, Upend Global Trade
Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And this new record, expected within days, likely won't last long. The U.S.
Court Thwarts VW's Bid to Suspend Emissions Audit
Germany's highest court has rejected a bid by Volkswagen AG to suspend the work of a special auditor appointed to investigate management's actions in the "Dieselgate" emissions scandal. A three-judge panel did not give an opinion on the merits of the case…
Most US Oil Execs See Prices below $60/Barrel through 2018
Nearly two-thirds of U.S. oil executives see crude oil prices remaining below $60 per barrel through 2018 and not hitting $70 until at least the next decade, according to a survey published on Wednesday by consultancy Deloitte Services LP.
Australia Risks Missing Next LNG Wave: Russell
Should the arrival of the last major piece of kit in Australia's $180 billion liquefied natural gas (LNG) spree be a cause for celebration or for a wake? It may seem that the arrival of the Ichthys Venturer floating production, storage…
EFG Hermes to Buy UK Solar Power Portfolio
EFG Hermes' renewable energy platform Vortex has agreed to buy a portfolio of solar power assets in Britain for 470 million pounds ($580 million) from Sun Edison's Terraforma. The portfolio includes 24 solar parks, has a combined 365…
Shale Gas Operations: Protecting Water is Central
Natural gas can be safely produced from the Northern Territory’s deep shale rocks without affecting precious water resources, according to a respected local environmental scientist. In a video produced by APPEA, Ray Hall, Managing Director at Darwin-based EcOz Environmental Services…
Latvia Mulls Options for Baltic Gas Facility
Latvia to liberalise gas market next April. A number of companies, including Germany's Open Grid Europe (OGE), are considering buying a stake in Latvia's future gas grid and storage operator Conexus Baltic Grid, the country's economy minister said.
Japan's Itochu Attacked by short-seller Glaucus
Glaucus questions how Itochu's classifies some investments. Japan's Itochu Corp became the target of short-seller Glaucus Research Group on Wednesday with a report criticising the trading company's accounting practices, sending its shares tumbling as much as 10 percent.
Directors Elected at Gaslog AGM
GasLog Ltd. (the "Company" (NYSE:GLOG), an international owner, operator and manager of liquefied natural gas ("LNG") carriers, announced the election of ten directors at the Company's annual general meeting of shareholders held in Monaco today. The elected directors are Peter G.
U.S. Regional Banks Brace for Energy Loan Losses
The five U.S. regional banks most exposed to the energy sector set aside millions of dollars more in the first quarter to cover potential losses from bad loans to the struggling oil industry. Overall, provisions for bad loans at Comerica Inc…
Alberta's Oil Well Clean-up Plan Pressures Producers
Regulations aimed at ensuring tens of thousands of inactive oil and gas wells dotting the Alberta landscape are properly reclaimed could be a death knell for some producers already crippled by weak energy prices. The Alberta Energy Regulator's…
Even Bankrupt Shale Drillers Keep Pumping Oil
As oil prices nosedived by two-thirds since 2014, a belief took hold in global energy markets that for prices to recover, many U.S. shale producers would first have to falter to allow markets to rebalance. With U.S. oil prices now trading below $40 a barrel…
Even Bankrupt US Shale Drillers Keep Pumping
As oil prices nosedived by two-thirds since 2014, a belief took hold in global energy markets that for prices to recover, many U.S. shale producers would first have to falter to allow markets to rebalance. With U.S. oil prices now trading below $40 a barrel…
Struggling U.S. O&G Companies Eye Rare Financing Deals
Some cash-strapped U.S. oil and gas companies are considering creating an unusual layer of debt as a way of surviving the rout in oil and gas prices, according to restructuring advisors. Chesapeake Energy Corp for example is considering…
