Opinion

Opinion

Beware hydrogen bias

26/05/2020

I recently provided Energy Voice with a couple of articles comparing Battery Electric Vehicles (BEV) and Hydrogen Fuel Cell Electric Vehicles (FCEV). The superior energy efficiency of the BEV was demonstrated supporting the reason why Volkswagen has stopped development of their passenger FCEV. There is much speculation in the automotive press that Mercedes are about to do the same.

Opinion

The long and winding road to recovery

21/05/2020

In a recent article I described the mechanisms which drive the market structures of backwardation and contango, which explained how and why the market got into negative territory, with a steep contango forward curve.  But having got there, how does that same understanding of market behaviour help us form a view of where we go from here?

Opinion

I’m proud to be a mentor

20/05/2020

Like many things in life, the more you put in, the more you get back, and that’s very much the case when it comes to mentoring.

Opinion

Hydrogen key to net-zero, but not a silver bullet

18/05/2020

For good reasons hydrogen is receiving much interest in the upstream business. Hydrogen can be synthesized from fossil fuels and the energy can be extracted with zero carbon emissions – it’s a silver bullet.

Opinion

Are there any tax levers left to pull for the UK oil and gas industry?

14/05/2020

Proposals to introduce temporary amendments to the Norwegian upstream tax regime, put to the Norwegian parliament a couple of weeks ago, and included within the Norwegian budget on Tuesday, have added to calls for fiscal change in the UK to support investment in the UKCS and underpin the oilfield services (OFS) supply chain.

Opinion

Critical national infrastructure still needs supporting

08/05/2020

It’s extraordinary to think that when we should have been gearing up for the main global oil and gas event of the year, instead we are mostly staying indoors for the foreseeable future. This doesn’t mean however that we down tools.

Coronavirus

Focusing on the future – what’s next for the oil and gas sector?

07/05/2020

Despite the uncertainties raging around us, as an industry and as individuals we have adapted quickly to the challenges of lockdown. The return to normal may prove a longer, challenging but potentially rewarding path, believes Jon Clark, EY EMEIA Oil & Gas strategy and transactions leader.

Oil & Gas

Imagination important as firms look to future

07/05/2020

While the immediate priority is survival, senior management of exploration and production (E&P) companies will also be looking to the future, seeking ways to access the capital required to bring undeveloped oil and gas discoveries into production and lower carbon dioxide emissions.

Opinion

Once in a generation opportunity

07/05/2020

There has been a lot of discussion in the media recently about the prospects that the “great plague of 2020” will inevitably lead to fundamental changes in both our economy and our society.

Opinion

We need to work together to take on crisis

06/05/2020

Do we play as a team or individuals? How should we take on the challenge of the unpredictable turbulence of today’s business environment? Our industry faces a triple whammy of pressures from operational disruption due to Covid-19, massive reductions in demand for our product and a globally oversupplied market.

Opinion

Consult before swinging the axe

06/05/2020

We’ve endured downturns many times before but the rapid spread of Covid-19, the resulting restrictions on working offshore and drastic fall in oil price has meant that the UKCS has never before faced challenges like this.

Coronavirus

‘Great uncertainty’ for employers using Covid-19 furlough scheme

06/05/2020

The Coronavirus Job Retention Scheme (the "Scheme") was announced on 20 March 2020 and opened to applications on 20 April 2020. By 23 April 2020 it had received 512,000 claims in respect of 3.8 million furloughed employees. However, a great deal of uncertainty remains around the application of the Scheme to businesses in the oil and gas sector.

Coronavirus

A knee-jerk reaction ‘will be damaging’ for oil sector, says recruitment firm

06/05/2020

The UK’s Job Retention Scheme has proved a lifeline for many employers and a way to ensure employment is protected while oil and gas firms deal with the double hit of Covid-19 and the drastic fall in oil price. The uptake figures demonstrate the need for the scheme, with over nine million people in the UK expected to be furloughed, yet the decisions to furlough staff have often been made quickly with little planning for the scheme ending.

Coronavirus

Weathering the storm

05/05/2020

How can energy supply chain companies weather the perfect storm of the oil and gas price crash, Covid-19 lockdown and social distancing, pressure to fully decarbonise and, of course, Brexit?

Opinion

How innovation can boost your company’s cashflow

04/05/2020

With Covid-19 causing significant cashflow issues for most companies trading in the UK, we recommend you carefully consider whether you are undertaking research and development (R&D) work. If you are, it means you can boost your cashflow by making a claim for R&D tax relief.