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EnQuest shares leap after bank agrees debts deal:

SHARES in oil explorer EnQuest, the largest UK independent oil producer in the UK North Sea, jumped yesterday after the market reacted positively to news that its bankers had relaxed the covenants on its debts in the wake of oil price falls.

The firm said its bankers had agreed to…

Energy taskforce meets in Aberdeen:

The new energy jobs taskforce, launched by First Minister Nicola Sturgeon earlier this month in response to tumbling oil prices, will meet for the first time in Aberdeen today.

Chaired by Scottish Enterprise (SE) chief executive Lena Wilson, it will focus on jobs across the entire energy industry but with…

UK Budget ‘right time for oil reforms’:

Industry officials believe the Budget is the right time to bring forward any further North Sea oil tax changes, George Osborne has claimed amid calls for urgent action.

The Chancellor gave assurances in the Commons that the Government will do everything to support the North Sea oil and gas industry…

Opec warns of $200 oil without investment despite recent slump:

Oil is in danger of rebounding to levels of $200 per barrel unless billions of dollars are invested into developing new fields despite the pressure on oil companies to make deep cutbacks in response to falling prices, the head of Opec has said.
Speaking to The Telegraph in London, Abdalla…

EnQuest cuts 2015 capex:

EnQuest, an independent oil and gas exploration and production company has said it will slash its 2015 capital investments.

Back in November 2014, EnQuest said the indicative level for capital investment for the North Sea in 2015 was expected to be in the range of $700 million to $800 million, with…

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