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Red Adair, world-renowned firefighter, dies

HOUSTON, Texas (AP) ## Paul N. "Red" Adair, a world-renowned oil well firefighter who revolutionized the science of capping exploding and burning wells, has died, his daughter said. He was 89.


City Oil Park Revamp Set to Generate Jobs

MORIBUND Aberdeen Offshore Technology Park is being rebranded and overhauled in a bid to attract fresh investment and create hundreds of new jobs.

Energy can reveal that the AOTP will be renamed Aberdeen Science and Energy Park, embracing wider science R&D and the broader energy opportunities for the Granite City in the future.

The overhaul is one half of a wider plan by Scottish Enterprise Grampian to breathe newlife into this and Aberdeen Science & Technology Park at Balgownie. Together, they host more than 90 companies and account for about 1,400 high-value jobs.


Oil prices surge to record high

US oil prices closed at record highs as investors fretted about the impact of the crisis at Russian oil giant Yukos.

Light sweet crude surged $1.06 to a record finish of $42.90, having earlier reached an all time high of $43.05 during the day's trade.

In the UK Brent crude settled up 99 cents at $39.53 a barrel, after hitting $39.68, its highest level since October 1990, ahead of the first Gulf War.


What's next for oil?

Five years ago, pundits were worried that oil was getting too cheap. The $5 barrel looked a genuine prospect, heralding a wave of instability in producing countries from Venezuela to Iran.

Now, the graphs are pointing the other way. $50 a barrel is not too far off, and doom-mongers warn a terrorist outrage could push prices to $80 and beyond.

Attempting to predict the oil market, then, is a mug's game. But since things seem to have reached some sort of crossroads, it's at least worth trying out a few possible scenarios for the way prices could develop.


Norway's oil strike forced to end

The Norwegian government has intervened in an industrial dispute that had threatened to halt oil production. 

The risk that a week long strike would escalate with a lock-out on Monday spurred the government to act.

"Such an escalation of the labour conflict would...have serious socio-economic consequences," said Social and Labour Minister Dagfinn Hoybraaten

"We will be at full production in a few days," said the oil industry association's leader, Per Terje Vold.


Stuffing The Contractors

THE world's big five underwater contractors are being taken for a ride by the super-majors. While their profits soar, McDermott, Saipem, Stolt Offshore, Subsea 7 and Technip remain, collectively, deep in the red.

Despite years of saying that contractors would be treated equitably and be rewarded for their efforts, BP, ExxonMobil, Shell, ChevronTexaco, ConocoPhillips and Statoil have collectively stuffed them, allegedly.


BENNEX delivers 5000m umbilical winch to Argus

Remote Systems as has delivered a new 5000 meter ROV system to the Norwegian Institute of Marine Research. Last week the Institute left for a two months mission. On board was also the 5000 meter winch delivered by BENNEX.


Norway openings for subsea expertise

Subsea Uk, the organisation set up by the Department of Trade and Industry and Scottish Enterprise to promote the UK subsea industry, is encouraging companies to capitalise on the new opportunities in Norway.


Submarine takes trippers to wreck

A six-seater submarine will take the public down to the wreck of HMS Scylla in Whitsand Bay in Cornwall. The £1.5m craft, which will be used at locations all over the world, is on a year's trial with the National Marine Aquarium (NMA) in Plymouth.


Seatronics Supplies Equipment to New Research Vessel

Seatronics Ltd. is making significant waves in the scientific sector with its third contract in less than two months, bringing the total value of contracts to almost £1 million. The Marine Institute, Galway, Ireland, has chosen its ground discrimination system, ECHOplus for fitting to its new research vessel "Celtic Explorer".

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