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Hitec Vision to invest huge sums in North Sea oil

Equity fund Hitec Vision plans to spend more than a billion dollars acquiring oil fields in the British part of the North Sea. Massive cost reductions have made the market attractive, says the investment director.

Report: Bigger market for decommissioning on the UK shelf

Offshore carriers and salvage companies can look forward to a larger billion-dollar market for the decommissioning of rigs on the UK Continental Shelf ahead of 2024, shows a new report from Oil & Gas UK. A total of 47 new projects are included in the latest survey.

Media: Buyers of shipping loans from RBS now hesitating

The sale of Royal Bank of Scotland's Greek shipping portfolio is now on hold after the UK voted to leave the EU in a referendum in June. Reuters reports that Credit Suisse and China Merchant have gone into deliberation-mode.

The DFDS share dives on Britain's EU exit

Listed shipping, logistics and transport companies are diving on the stock market after the UK's decision to leave the EU became official Friday morning. The move has a strong impact on players such as DFDS with big business in the UK.

Dong: We still believe in the UK

Neither wind turbines nor power plants at Dong will take a blow from the UK's decision to leave the EU. At least not right away. Currencies will be hit hard but the impact will be limited by a coverage of foreign exchange risks, says the company.

British shipping fears EU exit Thursday

London's reputation as a global hub for ship-financing as well as brokerage and insurance business is at risk if the British people vote the country out of the European Union, warn British shipping leaders according to the Wall Street Journal.

5500 jobs lost in British oil industry

The sliding oil price has especially hit operators in the North Sea, who were already working with the highest operating costs in the sector, according to a new British authority.

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