Opinion

Opinion

Opinion: UK oil & gas tax cuts: A £1bn boost?

18/04/2016

The UK government is on a mission to maximise economic oil and gas recovery from the UK Continental Shelf (UKCS) as higher development costs for aging oil and gas fields, depressed global oil prices and projections of slower global economic growth put even more pressure on the industry.

Opinion

Opinion: Overcoming industry issues to improve financial security

15/04/2016

The oil and gas industry is in a state of flux and companies are continuing to tighten purse strings in an effort to protect profit margins. Dan Ibbetson from Aggreko examines five of the issues sending shockwaves throughout the sector and why overcoming these could support a company’s ability to compete at the top of the market, now and in the future.

Opinion

Opinion: The truth about hedging

08/04/2016

The price of oil is notoriously fickle. We’ve seen the worst of that over the last two years – and you could even say in the last three months.

Opinion

Opinion: Contractors face decommissioning minefield

07/04/2016

Contractors who want to get a slice of the long-anticipated deluge of decommissioning work in the North Sea need to be aware their contracts should cater for unknowns which, if not addressed properly, could see their profits from these jobs suppressed or wiped out.

Opinion

Opinion: Industry shedding parasitic skin

07/04/2016

There is no question about it, we’re in the middle of a significant shift in culture. And it needed to happen. There are few positives to come from low oil prices, but we must take what we can from the predicament we find ourselves in. The industry must come out of this fitter and stronger. We must not waste the crisis.

Opinion

Opinion: What if we had voted to leave the UK?

25/03/2016

Two candidates in the 2016 Scottish Parliament elections have given their view on a report which said every person would have been £1,800 fiscally worse off in an Independent Scotland as a result of the oil price decline.

Opinion

Opinion: Collaboration is key

18/03/2016

Whatever situation our industry encounters, fundamentally it lives or dies by how well it drills and maintains its wellstock.

Opinion

Opinion: Critical to tackle the collapse in investment

18/03/2016

Oil and gas companies have made significant in-roads into reducing the cost of production, but this is in the context of some of the highest operating costs in the world. With the oil price falling from the highs of above $100 a barrel in the summer of 2014, those cuts alone cannot go far enough and real fiscal stimulus is needed to drive renewed investment.

Opinion

Opinion:UKCS doesn’t need hand-outs, it needs a tough-minded business approach

17/03/2016

Several years ago I spent time in Australia. Visiting a North Queensland mining community I fell into conversation with an engineer who said something to the effect that one of the biggest problems for the industry Australia-wide was the inability to fight ballooning costs and wage inflation. His further comment was even harder hitting. There were just too many people on the payroll, and too many people very well paid to perform slight-to-unimportant tasks.

Opinion

Opinion: Budget was ‘hodgepodge’ of measures

17/03/2016

The Budget this week was a hodgepodge of measures for the economy with some moves being made to help the oil and gas industry, however, yet again prime opportunities have been missed by the Chancellor to make a more substantial positive impact on the sector.

Opinion

Callum McCaig: Osborne it’s time you repay the industry that paid you

08/03/2016

Scotland’s oil and gas industry has generated well over £300billion for Treasury coffers and it employs more than 375,000 people from across the UK. It is an important industry for the north-east of Scotland and the national economy, and one that has benefited UK government expenditure for very many years.