The coronavirus crisis had a devastating effect on oil-company revenues, but it’s posed a tough human-resources problem too: how to keep workers safe on cramped rigs at sea where social-distancing is impossible.
A restructuring specialist has warned more North Sea oilfield service firms are “operating in crisis mode” and that he expects to see higher levels of insolvencies next year.
There are signs that the UK’s sanction regime is poised to become more aggressive following the disentanglement from the EU. The close of the Brexit transitional period on 31 December 2020 marks the end of the UK’s obligation to enforce EU sanctions. From 1 January 2021, the UK’s sanctions regime will be independent, with sanctions imposed pursuant to a new framework introduced under the Sanctions and Anti-Money Laundering Act 2018 (SAMLA). It is important that UK companies, including those in the energy sector, anticipate the UK’s changed regulatory landscape and are aware of the potential for new sanctions in due course.
The last six months have been some of the most difficult in living memory. With COVID-19 set to cast a shadow for some time yet, many firms will be taking a more cautious approach to recruitment – focusing on hiring those able to help build vital resilience into the business.
By Boris Ivanov, Founder of GPB Global Resources B.V.
The COVID-19 pandemic has triggered one of the most disruptive periods on record for energy markets, with almost a third of global oil demand wiped out as millions stayed home amid lockdown measures and travel bans.
This article is intended as a quick legal guide of some key points for busy Energy executives who need to manage business risk exposure when global supply chains are disrupted.
Exxon Mobil Corp. plans to lay off an unspecified number of employees as low oil prices force the company to delay major projects, Chief Executive Officer Darren Woods said in an email to staff.
Aberdeen Renewable Energy Group (Areg) has grown its membership over the past 12 months, with sign-ups coming from leading companies within the renewables sector, renowned industry bodies and energy companies who are placing an increased focus on clean energy.
Trade union chiefs said yesterday that offshore workers have “a lot of concern” about North Sea firms’ ability to keep a lid on Covid-19 while increasing crew numbers on platforms.
The future of Scottish manufacturer Burntisland Fabrications (BiFab) now hangs in the balance after the Scottish Government confirmed it has pulled support for the firm.
Increased funding from the EU and national governments have boosted the prospects for carbon capture technologies in Europe. Three projects in the Netherlands, Norway and UK could be operational by 2024.
A major failure of the 20-mile subsea power cable between the isles of Skye and Harris could take months to repair – and it may even need to be replaced at huge cost.
Chevron is seeking contractors for a major retirement campaign across the Gulf of Thailand as the Southeast Asian nation braces for a huge wave of decommissioning.
Crane and lifting technology firm Intebloc, of Aberdeen, is celebrating its biggest ever contract win after clinching a six-figure deal with Stena Drilling.