Ancala in Apache buy-ups

A subsidiary of London-based infrastructure investors Ancala Partners is buying the stakes of US oil company Apache in the Scottish Area Gas Evacuation system, known as Sage, and the Beryl pipeline, both of which are located in the UK sector of the North Sea.

Jobs cull

The South Korean government wants Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries to reduce their combined workforce by 32% from 62,000 to 42,000 by 2018 in response to the protracted downturn, according to local reports.

Laying the strata for future role

Born in Greece in 1954, the modest Yannis Bassias has an enviable pedigree in the oil and gas industry, having worked in academia, the service sector, oil companies and as a consultant before landing a key government job back in his homeland, writes Iain Esau.

Fears over Petrobras’ new business model

Plans by Petrobras to adopt a new business model for contracting offshore equipment are causing concern among domestic players as they worry about the direct impact they may have on the Brazilian engineering sector, writes Fabio Palmigiani.

Projemar feeling the pain

Brazilian engineering firm Projemar is one of many in the sector that are being severely affected by the current crisis in the oil and gas industry, and the subsequent lack of new contracting opportunities, writes Fabio Palmigiani.

Lightstream bought up

Investors in Canadian oil company Lightstream Resources have banded together to buy the cash-strapped company before its bankruptcy protection expires.

Woodside budget plan

Future liquefied natural gas capital expenditure is likely to be on the expansion and extension of existing producing assets, according to Woodside chief executive Peter Coleman.

Savanna waits on takeover

Total Energy Services is planning a hostile takeover of fellow Canadian oil service company Savanna Energy Services, although it has yet to make an offer to shareholders, writes Tonya Zelinsky.