Ithaca Energy has secured further cash for its North Sea projects.

Bergen-based GC Reiber Shipping has completed  a private placement to raise NKr 450 million (US $68 m) to finance the purchase of two newbuild high-capacity seismic vessels in Spain.

Management expert Deloitte says the UK emergency budget unveiled by Chancellor George Osborne has failed to introduced any major new tax changes which will hit North Sea industry.

British oil and gas companies have acknowledged the challenge they face in the weeks and months ahead as the government tries to balance public spending in the UK but they have also called for the government to maintain investment in energy.

British business including oil and gas companies were bracing themselves for a new government budget due to be announced at lunchtime which is expected to hit business hard.

Norwegian PM Jens Stoltenberg makes it clear that he does not think the Government has misinformed the Parliament in the Mongstad case.

Denmark's Dong Energy has put more cash in the bank after arranging a new €750 million (US $918 m) credit facility.

Subsea contractor Cecon has been granted a further extension period for the repayment of interest on a US $100 million bond loan which was due on 4 May.

Noreco spent two thirds of its exploration expenses on the Frusalen well in the first quarter.

North Sea major Talisman Energy will have more cash to spend after securing the sale of non-core assets onshore Canada for Cdn. $1.9 Bn (US $1.89 Bn).

Rig group Aker Drilling has given notice that it is considering another bond issue to raise more funding.

Scottish and Southern Energy has landed more cash from Europe to progress renewable energy projects.

Noreco has agreed to arbitration in a dispute with financier Norsk Tillitsman over the pricing of a bond issue made last year.

London-listed Cove Energy has launched a new share placing to cover its exploration costs for the Rovuma Basin area offshore Mozambique.

North Sea field developer Xcite Energy has signalled plans to raise up to £24.9 million through new share placings to fund an appraisal well on the UK Bentley heavy oil field.

Noreco reports of a net loss of 87 million kroner in the fourth quarter.

Aker Solutions order backlog in the fourth quarter was 56.3 billion kroner, a decrease of 200 million kroner from the fourth quarter in 2008.

DNO presents a net loss in the fourth quarter that is worse than the analytics expected.

Rig operator Songa Offshore has abandoned plans to raise new finance with a new bond issue blaming volatile markets for the decision.

Island Oil and Gas has been given a further lifeline by potential take over partner San Leon Energy which has agreed to extend its line of credit to the Irish-based exploration and production company.

Statoil presents its fourth quarter results and a preliminary net operating income of 121.6 billion.

US-based EOG Resources which already has one successful oil discovery under its belt which was drilled in the UK offshore sector in the Eastern Irish Sea plans to announced its fourth quarter results later this week.

North Sea and US player Endeavour Energy has completed a private placement of shares which provides the company with US $20.5 million of new cash to pursue its 

Remedial Offshore faces an uncertain financial situation, and now reports that its interim CEO, Svein Eggen, has resigned from the position he has had since April 2009, with effect from 1 February 2010.

Subsea 7's profit before tax in the fourth quarter 2009 decreased somewhat, whilst the company's revenues decreased.

A loan provided to struggling Island Oil and Gas by potential takeover partner San Leon Energy has been extended.

Changes to the UK offshore tax regime which will seek to promote deepwater gas development in the West of Shetlands could help unlock up to £14 Bn of new investment in the region.

Details of changes to the UK offshore tax regime have been unveiled by the UK government which are aimed at providing better conditions for gas field developments in the West of Shetlands region.