Roberto Abraham Scaruffi

WGPSN appoints new CFO Wood Group PSN (WGPSN) has appointed a new chief financial officer (CFO). Steve Nicol will take up the role, moving from his previous position as CFO of WGPSN’s UK operations

	Schlumberger acquires interest in EDC worth $1.7billion Schlumberger has reached an agreement to acquire a minority interest in Eurasia Drilling Company (EDC) worth an estimated $1.7billion. The company said the deal extends the long-term relationship they have shared since signing a strategic alliance in 2011

	Bilfinger Salamis secures contracts worth more than £100million Energy services firm Bilfinger Salamis UK has secured new business with a combined total value of more than £100million. The company has been awarded the contracts from clients including Apache and Taqa Bratani in the last three months

	Statoil awards contract for Johan Sverdrup field Statoil has awarded a contract to Kvaerner Verdal worth NOK 2billion for delivery of the riser platform jacket for the Johan Sverdrup field. The company made the announcement on behalf of the Johan Sverdrup licence partners

	IMF marks down its reading of UK growth amid falling oil prices The International Monetary Fund (IMF) today sharply marked down its reading of UK growth for 2014 and also slashed its forecasts for global growth this year and next amid a mixed effect from falling oil prices

	Petrofac wins $4billion contract from Kuwait Oil Company's development programme Petrofac has won a $4billion contract for the first phase of Kuwait Oil Company’s (KOC) Lower Fars heavy oil development programme. The company will carry out the work in consortium with the Consolidated Contractors Company (CCC) as its partner

	Shell VP moves to new role The vice president for oil giant Shell’s Upstream business in Europe is set to move onto a new role within the company. Glen Cayley has been in his current position since September 2010

	Oil holds losses as China growth fails to spur demand confidence Oil held losses below $50 a barrel as China’s economic growth failed to spur confidence demand will be enough to eliminate a global supply glut. Futures were little changed in London after falling 2

	MPs to debate North Sea MPs will today be given their first chance to debate the threat to North Sea jobs caused by the oil price collapse. Frank Doran, Labour member for Aberdeen North, secured the debate in Westminster amid concerns about the future of thousands of offshore workers

	Ed Balls: Government must take action now The North Sea oil industry is one of Scotland's great success stories. For decades it has sustained thousands of jobs, generated billions in tax revenue and acted as a platform for exporting the talent and expertise of this great nation around the world

	Shadow Chancellor in Aberdeen as party launch action on oil and gas Shadow chancellor Ed Balls will join Scottish Labour leader Jim Murphy in Aberdeen today as the party launches a day of action on the “crisis” in the oil and gas sector

	Stats continues overseas expansion after £4.3m Business Growth Fund follow-on deal North-east oil and gas pipeline engineering specialist Stats Group is preparing for further international expansion after securing an additional £4.3million investment from the Business Growth Fund (BGF)

	ExxonMobil starts production from Russian field ExxonMobil said production has begun at the Sakhalin-1 project’s Arkutun-Dagi field. The company said it is the last of the three fields to be developed, with peak daily production from the field expected to reach 90,000 barrels

	Hedge funds cut oil bets after worst drop since 2008 Oil bulls finally caught a break as prices capped their first weekly advance since November. Hedge funds raised their net-long position in West Texas Intermediate crude by 12% in the week ended January 13, US Commodity Futures Trading Commission data show