For the oil and gas industry, saying that safety is a ‘top priority’ doesn’t come close to capturing the extent of our commitment – we work to make sure that safety is ingrained in every company’s culture, and we won’t rest until all of our colleagues feel that all the risks they could face at work are addressed.
While COVID-19 and Brexit have dominated the agenda for oil and gas businesses in recent times - and rightly so I should add - there is a third issue that this industry is taking just as seriously. I am, of course, referring to IR35 reform in the private sector.
US oil majors ExxonMobil, Chevron and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.
The oil price slipped below $58 a barrel as a recent rally fizzled with the Covid-19 pandemic continuing to weigh on the demand outlook and as one technical indicator signaled prices may have climbed too far, too fast.
Shell will freeze salaries for most of its employees this year, according to people with knowledge of the matter, as it looks to save cash amid an overhaul of the company.
The next 24 months will see a “rebound” in work for the UK North Sea, according to Westwood Global, with a clutch of offshore projects for contractors to keep an eye on.
Shell has named the UK North Sea as one of nine “core positions” for its oil and gas business going forward, as it today revealed its net zero strategy.
Transport Secretary Michael Matheson has said oil and gas workers travelling back into Scotland could be granted exemption from enforced quarantine measures.
BP is “likely” planning entry into the Scotland offshore wind market, according to an industry expert, after securing a landmark move into the UK sector.
Sulmara Subsea, an up-and-comer to the offshore surveying sector, is planning a major recruitment drive in 2021, while taking steps to offset its carbon emissions.
The Brent oil price has reached its highest in 13 months, but experts say questions persist on whether activity in the UK North Sea will see a similar resurgence.