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Geotechnical Engineer / Technician, Scotland,Aberdeen

Carlton Resource Solutions Limited are currently recruiting for a Geotechnical Engineer on behalf of our client a leading Oil and Gas Service Company specialising in providing subsea construction, ins See More
1 hour ago
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BCO, Scotland,Aberdeen

Spencer Ogden requires Ballast Control Officers to mobilise immediately to a North Sea Semi-Submersible. All applicants must have previous offshore experience in this role and hold all valid offsho See More
1 hour ago
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... Vous recherchez de nouveaux challenges, et souhaitez monter en responsabilités sur des projets internationaux de très grande envergure ? Si l'offre ne vous correspond pas, n'hési See More
1 hour ago
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Sr. Mechanical Technician-OFFSHORE, Abhu Dhabi, UAE

We are looking for expert Sr. Mechanical Technician - OFFSHORE at Stat Services in Abhu Dhabi, UAE INTERVIEW LOCATION : INDIA-CHENNAI INTERVIEW SCHEDULED DATES : 23rd MAY 2014 - 04th JUNE 2014. See More
3 hours ago
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Opening for Furnace Mechanical Engineer, Gurgaon, India

We have requirement for Furnace Mechanical Engineer with 5 - 18 years of experience in same field. The candidate should be BE/ BTech/ M Tech. Salary is not a constraint for right candidate. See More
3 hours ago
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Senior Biofuels Scheduler, USA,Washington,Blaine

The Senior Biofuels Scheduler plays an important role in NW FVC supply chain management, providing a critical operational interface between Cherry Point refinery, Supply, Retail/Fuels Marketing, US Pi See More
4 hours ago
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Safety Systems Engineer - Oil & Gas, USA,Texas,Houston

* Interested candidates should direct all resumes to B.aberra(at)progressivege.com or call (832)900-5981 Safety Systems Engineer- Houston, TX A globally innovative software compnay specializing in s See More
11 hours ago
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Completions (Frac) Consultant, USA,Louisiana,Haynesville

Client: Mid-size Oil and Gas Operator Location: Haynesville and Eagle Ford Duration: 2 x long-term (6+ months); 4 x short-term (1-3 month hitches) Rate: Negotiable, based on experience Need & See More
11 hours ago

Blog Posts

"Scottish Breathaliser Test"

Posted by Brian Simpson on April 3, 2014 at 11:00

What if 'Can't Do' became 'Can Do'?

Posted by Brian Simpson on March 31, 2014 at 9:30

Oil Exploration Game...

Posted by Brian Simpson on March 26, 2014 at 11:02

Cairn Share Price Crashes as Chairman Goes & Loss for 2013 of over One Billion Dollars ($)


Cairn Energy yesterday stopped its $300 million share buyback programme as it resolves a tax dispute with the authorities in India.

The Edinburgh-based oil and gas explorer also revealed it racked up losses of more than $1 billion last year as it wrote down the value of its assets and counted the cost of exploration in the North Sea and Morocco.

Cairn has returned almost $95m to investors through its share buyback programme, but is halting further purchases while talks continue with India’s income tax department. It has also been prevented from selling its 10 per cent stake in former subsidiary Cairn India, valued at about $1bn.

Chief executive Simon Thomson said “We instituted the buyback with the ambition of buying back up to $300m of stock, to be reviewed quarterly. We’d prefer to be buying stock, but it’s prudent for us, given the uncertainty of the tax issue in India, to suspend the buyback.”

The firm will next month send information requested by the tax authorities.

He added: “There’s a lot of work for us to gather that information, which dates back to 2006, and there’s a fairly fluid timescale in relation to how long the tax authorities may have to respond to that. We’re 100 per cent focused on getting this resolved ”

The suspension of the buyback programme sent Cairn’s shares downwards, and they ended the day down 14.4 per cent at 168.2p. The move came as Cairn revealed deeper pre-tax losses from continuing operations of $1.1bn for 2013, compared with $194.2m the previous year, as it suffered write-downs and increased costs of exploration.

On Monday, the firm said it had abandoned a well off the coast of Morocco, where failed exploration efforts cost it $107m last year. The firm also took an $81m hit from dry wells in the UK and Norwegian sectors of the North Sea.

Cairn, which has put its exploration plans in Greenland on ice to focus on the North Sea and Atlantic Margin,…


Posted by Brian Simpson on March 19, 2014 at 14:26

Ukraine Crisis & Oil & Gas. (Bloomberg)

Posted by Brian Simpson on March 3, 2014 at 12:36

Scottish Oil & Independence (BBC Scotland)

Posted by Brian Simpson on February 27, 2014 at 14:25

Support Team GB at Sochi 2014 Winter Olympic Games.





Posted by Brian Simpson on February 18, 2014 at 7:08


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