News Archive for: January 2015

ENERGY company Total has begun production at a North Sea project which could supply the equivalent of 40,000 barrels of oil per day.

Bosses said the second phase of the West Franklin field, about 150 miles (241km) west of Aberdeen, has “significant reserves” and also promised new “exploration opportunities”.

It confirmed…

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…

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…

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…

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…