News

Vladimir Putin told a defence ministry meeting that he wished to see the military bolster its presence in the territory

View from City Road: Lasmo may need a rights issue

Lasmo's North Sea disposal confirms the soundness of its assets, reflected in the values they attract. But the fact that it has been forced to sell them underlines the weakness of its balance sheet.

Mitsubishi buys into North Sea oil sector

MITSUBISHI Oil, the big Japanese exploration and refining group, is buying a parcel of North Sea assets from Petrofina, the Belgian group, for about dollars 200m (pounds 136m), writes Neil Thapar.

Tall ships emerge from the North Sea mist for 1993 race

(Photograph omitted)

Hardy in 29m pounds cash call

HARDY Oil & Gas, the North Sea explorer, is tapping shareholders for the second time in two years with a pounds 29m cash call to finance acquisitions and develop new fields, writes Neil Thapar.

Sports Listings: This Weekend / Windsurfing - North Sea Cup, Pevensey Bay

The North Sea Cup at Pevensey Bay, East Sussex, this weekend is one of the largest windsurfing regattas in Britain as it is also the second round of the National Series Championships. The Cup itself is a four-round event, contested by France, the Netherlands, Belgium and Britain, and more than 200 sailors will compete in the penultimate round. Britain has not won the North Sea Cup, though this season a strong challenge is mounted. Matthew Wemms, from Welwyn Garden City, is the overall leader in the lightweight division and will work hard to retain the position in open-sea conditions at Pevensey Bay. Also in contention in this category is Willie Banham, the National Champion. The Londoner won the first round in the Netherlands over Easter. Christine Lapworth, from Botley, leads the women's section for Britain.

Shell decision

Shell is not to be prosecuted over 11 deaths in a helicopter crash near the Cormorant Alpha North Sea platform, the Crown Office confirmed.

Oil tax changes 'will damage economy'

THE GOVERNMENT'S sweeping tax changes affecting the North Sea oil industry are likely to cause severe long-term damage to the economy, according to an authoritative report.

Subs 'close to nuclear explosion'

A US nuclear-powered submarine that collided with a Russian sub in the Barents Sea last month came within 60ft of striking the Russian vessel's nuclear reactors, AP reports from Moscow. Had the USS Grayling hit the vital reactor area, 'a thermo-nuclear explosion would have followed', said Rear-Admiral Alexei Ovcharenko, a Russian officer who investigated the 20 March accident.

North Sea vessel hit

About 70 men were evacuated from a North Sea oil rig support vessel after it was hit by a safety ship which lost power in 45mph winds and 22ft seas. The crash happened in the Claymore Field, 100 miles north-east of Aberdeen. No injuries have been reported.

Clyde to raise pounds 34m to develop oilfield: Rights issue accompanied by bigger loss

CLYDE Petroleum, the North Sea oil explorer, is raising pounds 34m from a rights issue to fund the development of Gryphon, a new offshore oilfield in which it has a 35 per cent stake.

Letter: Tax that could dry up North Sea oil revenue

Sir: We, the undersigned, former chairmen of the Petroleum Exploration Society of Great Britain and/or the Petroleum Group of the Geological Society, wish to draw your attention to the absence of comment in the press on proposals in the Budget for the most fundamental tax changes to affect the North Sea oil and gas scene for 10 years. This is because the outcome of the proposed changes is not obvious.

Enterprise profits fall

ENTERPRISE OIL, the big North Sea explorer, has lifted its total dividend by 2 per cent to 16p for last year despite a sharp fall in profits caused by lower oil prices and a high tax bill.

Next services: 244 miles: Armed with permit, insect repellent, CB radio and the collected works of Tater Bob, Bill Pannifer follows the Alaska pipeline to the Arctic Ocean

We are driving out to the coast. Not the East Coast, nor the West Coast, but the North Coast: the northernmost point in the United States accessible by vehicle. Our route is on all the maps, a dead straight, lonely-looking line up from Fairbanks to the shores of the Arctic Ocean. We've already driven three thousand miles from San Francisco, and we're not going to stop now, just because it says 'Restricted Road'.

Itochu buys North Sea interests

THE market for North Sea oil assets received a further boost after Enterprise Oil, the UK independent, sold some interests to Itochu, the Japanese conglomerate, for dollars 106m (pounds 73m).

Riggers' plunge

Two North Sea riggers were recovering in hospital after falling 50ft (15.2m) into the water from the underside of British Petroleum's Bruce platform, 250 miles north-east of Aberdeen. Both were able to swim back to a platform leg. An investigation has begun.
Latest stories from i100
Career Services

Day In a Page

A
Independent Travel
Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
Burgundy, the River Rhone & Provence
Prague, Budapest and Vienna
Lake Garda
Minoan Crete and Santorini
Prices correct as of 15 May 2015
Greece says 'No': A night of huge celebrations in Athens as voters decisively back Tsipras and his anti-austerity stance in historic referendum

Greece referendum

Greeks say 'No' to austerity and plunge Europe into crisis
Ten years after the 7/7 terror attacks, is Britain an altered state?

7/7 bombings anniversary

Ten years after the terror attacks, is Britain an altered state?
Beautiful evening dresses are some of the loveliest Donatella has created

Versace haute couture review

Beautiful evening dresses are some of the loveliest Donatella has ever created
No hope and no jobs, so Gaza's young risk their lives, climb the fence and run for it

No hope and no jobs in Gaza

So the young risk their lives and run for it
Fashion apps: Retailers roll together shopping and social networking for mobile customers

Fashion apps

Retailers roll together shopping and social networking for mobile customers
The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate