North Sea: facts and figures
Some highlights of the Oil and Gas UK Economic Report 2016:
Opinion: Still significant challenges for the North Sea
With oil prices continuing to hover below $50 a barrel, the release today of Oil & Gas UK’s 2016 Economic Report, has served to remind us of the significant challenges currently facing the UK North Sea.
North-east firms boosted by “cosmopolitanism” of oil sector, but more diversity needed
Increasing the diversity of workplaces in the north-east will be top of the agenda at a conference coming up next month.
Oil tycoon urges Aberdeen to “stay awake” to maintain economic strengths
Aberdeen has scored above average on a number of economic indicators relative to Europe and has the highest productivity of any city in Scotland, a new report has found.
Enter now to win table for 10 at Energy Ball 2016
Ten lucky people have the chance win a free seat at the table at best night of the year in the north-east region.
Junior market aims for reluctant Scottish firms
Scotland is lagging behind the rest of the UK in the number of companies represented on the Alternative Investment Market (AIM) it was claimed at an event yesterday.
Spex narrows losses in restructuring move
An Aberdeen oil and gas technology firm has completed a restructuring after reporting reduced losses last year.
Chinese firms consider acquisition of National Grid network
Chinese firms are eyeing a deal to snap up a stake in a UK gas distribution network as the Government gives final approval for the £18billion China-backed Hinkley nuclear project.
Technip UK warns 2017 will be “the most difficult year”
French oil services giant Technip’s UK business has warned 2017 will be “the most difficult year” despite expecting North Sea projects to come back on the market.
Arria technology to deliver early warning of earthquake disasters
A company that started as a spin-out from Aberdeen University has signed a deal that will see its technology used to predict the deadliest of all natural disasters.
Xcite Energy shares collapse as investors facing a wipeout
Shares in Xcite Energy plunged almost 70% last night after the firm warned a planned restructuring would see shareholders’ stakes nearly wiped out.
Glimmer of hope for end of north-east redundancies
A trend for for job cuts which has seen thousands of oil and gas workers across the north-east being made redundant is tapering off, new figures have shown.
Subsea engineer hails “resilience” in its 20th year
An Aberdeen engineering firm has hailed its “resilient position” as it reaches its 20th year in the subsea oil and gas industry.
Bank of England told North Sea “demise” is wrong
The Governor of the Bank of England Mark Carney has been advised that “tales of the North Sea’s demise are wrong” - although the oil and gas sector faces tough challenges in the wake of low prices.
21 jobs lost at CIE
An Aberdeen oil and gas engineering firm has gone into administration with the immediate loss of 21 jobs.
Rigs stack up off Invergordon
As many as a dozen drilling rigs are expected to spend the winter stacked in the Cromarty Firth as the depressed oil price continues to limit North Sea activity.
TV skipper serves up offshore
Peterhead fishing skipper Jimmy Buchan is toasting a successful trip after three days on a North Sea accommodation rig showcasing some of his catch.
Wood Group expands petrochemicals work with Sabic
Wood Group has been awarded a new contract by petrochemical manufacturer Sabic to provide engineering design services the firm's Teesside complex in Wilton.
Stranded rig refloating operation making “steady progress”
More than 200 people are involved in plans to refloat an oil rig grounded on the Western Isles which the head of the operation said is making “steady progress”. The Transocean Winner rig was blown ashore in severe weather conditions on the western side of the Isle of Lewis last week when it detached from its tug en-route from Norway to Malta. The rig is believed to have leaked 50,000 litres of fuel, most of which is thought to have evaporated, but no trace of pollution has been found since a low level was spotted on the day the rig grounded, Monday August 8. Salvage teams plan to transfer the remaining 137 metric tonnes of diesel fuel - a light and non-persistent oil with lower environmental risks than heavy black crude oil - in the intact tanks to tanks above the waterline. Hugh Shaw, the secretary of state’s representative for maritime, salvage and intervention, who is overseeing the operation, said: ’Work is ongoing and we are making steady progress, this is due to the response from all involved. “We fully appreciate the support that we have been getting from the local community and its leaders, as well as all those who live and work on the island.” The Maritime and Coastguard Agency (MCA) said the salvage teams on board are continuing to examine possible refloation and fuel transfer options. A helicopter has made three trips to transfer additional salvage equipment to those on board the rig, which grounded at Dalmore beach near Carloway. An MCA spokeswoman said: “So far, it is estimated that over 200 people are responding to the incident from the Maritime and Coastguard Agency, Transocean, Smit Salvage and Briggs Environmental. “The 300m exclusion zone covering the sea and the exclusion zone covering the air (temporary) remains in place - any aircraft pilot or drone operator not involved in the operation that breaches that zone will be prosecuted.” Mr Shaw and Transocean staff are expected to give an update on the salvage plans at a public meeting in Carloway on Thursday evening.
RBS’ Ross McEwan: “Oil and gas will be fine”
Ross McEwan is accustomed to making the headlines, but not always for the right reasons.
Energy Ball 2016 now just six weeks away
As summer holidays come to an end, now is the time to start thinking about the north-east’s biggest and best events.
Transocean to scrap another North Sea rig
Another North Sea rig owned by Transocean has been set for the scrap heap with the loss of up to 90 jobs
Burness Paull sees Aberdeen reinvention
Scottish law firm Burness Paull saw its profits decline as the “shock” of the Brexit vote affected business.
Call for clarity over impact of apprenticeship levy on oil and gas firms
Oil and gas skills body Opito has called for clarity over the impact the £3billion Apprenticeship Levy on the industry after the UK government set out how the controversial tax will work in England.
Mitsubishi takes tools to Scotland
The cutting tools division of a major Japanese industrial conglomerate has become a member of an advanced manufacturing research group in Scotland.