The financial climate of the oil and gas sector in recent years has caused a number of trends to emerge that have caused a shift in the way business is carried out.
The Oil & Gas industry is synonymous with the word ‘extreme’ but in many ways that term doesn’t translate well when it comes to keeping up with the latest of technology trends.
In the last year, mergers and acquisitions (M&A) activity in the oil & gas sector has shown continued hesitation from the heady days of $100 oil back in 2013. However acquisition activity is showing signs of gaining pace, and may become more aggressive than ever.
While the UKCS continues to thrive, with oil production in 2018 the highest since 2011, news of the launch of Fairfield Decom is also evidence of the evolving decommissioning market.
If you’ve read the report by the Committee on Climate Change (CCC) entitled “Net Zero: The UK’s contribution to stopping global warming” then I hope you’re both as impressed with it as I am, but also horrified.
I read with interest Luke Warren’s (CEO Carbon Capture and Storage Association) article criticising my previous Energy Voice piece where it was stated ‘but Tom misses the essential point about the very nature of CCUS technology when he says we should “bypass CCUS” in order to decarbonise our economy and stimulate investment in hydrogen’.
China is at a pivotal moment in its history. Over the last four decades, more than 800 million people have been lifted out of poverty. Vast megacities have sprung up in less than a generation. Chinese science, innovation, and manufacturing are transforming many countries – making China a true workshop of the world.
Heat still accounts for a large proportion of Scotland’s harmful emissions. It is therefore no surprise that the Scottish Government, which has been on the front foot on the climate change journey, has set rigorous targets to reduce the reliance on non-electrical heat sources.
A fundamental shake up of the tax rules applying to contractors has the potential to cause increased costs and risks to the oil and gas industry.
Emergencies are not to be taken lightly so I am waiting with interest to find what the UK Parliament and Scottish Government announcements of a climate change emergency add up to.
There is no doubting the need for the North Sea oil and gas industry to have a long-term vision. And to be fair to the sector, there have been various attempts at looking ahead.
Confirmation earlier this month that the transfer of 700kg of highly enriched uranium (HEU) from Dounreay to the US has now been completed, is seen as an important milestone in the clean-up of the Caithness site.
Ukraine is carrying out reforms in an attempt to become more closely aligned with the European Union - but developing the country is almost impossible without sustainable economic growth and investments.
In the Chancellor’s most recent Autumn Budget the UK government confirmed plans to reform the IR35 tax legislation for the private sector.
The winds of change continue to sweep across the renewable energy sector. Technology is moving forward rapidly with step-changes in the size, capacity and efficiency of wind turbines.
The basic definition of an entrepreneur is someone who identifies a need and then starts a business to fill the void.
Did you know that around 13 million women in the UK are currently peri- or post-menopausal? The answer is probably not, because despite menopause being an issue that will at some point affect more than half of the population (52% are female), it remains a taboo subject.
With policymakers now proactively pushing the electric vehicle (EV) agenda, the demand for clean transport amongst consumers is growing.
After a period of relative quiet, North Sea oil and gas is increasingly in the private equity spotlight, amid renewed confidence that has spurred an appetite for deal making.
We’ve been here before, at least in the context of the North Sea oil and gas industry.
The energy sector has long been familiar with disputes, especially lengthy, high-value and high-profile claims. Some of the highest-value arbitral awards in history have arisen from energy-related arbitration.
Oil companies are increasingly investing in low-carbon technologies that have the potential to disrupt their core and end-markets.
Advances in technology, internationalisation and the transition to a lower carbon future indicates that many positions within the sector will change or evolve.
With the recent announcement of the Offshore Wind Sector Deal, the UK is powering towards the goal of ensuring a third of the country’s electricity needs will be provided by offshore wind by 2030.
Whilst we are seeing a clear uptick in activity and the UK oil and gas industry is certainly on the way up again, the industry must continue to move forward. However, under current market conditions, how can companies capitalise on change whilst remaining stable and sustainable and, more importantly, will there be enough return for all?