EY Guest Editor: Derek Leith on the oil and gas outlook
Pausing to review the landscape ahead of Philip Hammond’s debut statement as Chancellor, it is difficult to imagine a more challenging set of circumstances for him to deal with.
Opinion
Autumn Statement 2016: Wheelhouse urges better access to decom tax relief
This has been another challenging year for the North Sea oil and gas industry, however I believe that there continues to exist a wealth of opportunity for this strong, resilient and innovative sector.
Opinion: Are the Saudis about to reveal the best kept secret in oil?
One of the oil world's longest and best kept secrets may finally be revealed. Saudi Arabia is preparing to unveil how much oil it holds, a closely guarded state secret that has been kept quiet for decades.
Opinion: The value of corporate challenges in a school environment
The Bright Ideas Challenge – now in its second year – is an exciting cross-curriculum linked competition that invites secondary students, aged 11-14, to use their STEM (science, technology, engineering and maths) skills to come up with ingenious and exciting new ways to power future cities.
Opinion: Transocean versus Providence – a lost opportunity?
The Supreme Court has declined to hear an appeal by Providence in its dispute with Transocean about wasted spread costs.
Opinion: Opec’s bearish report provides little hope for oil markets
Just one day after the IEA warned the world could drown in oil if production does not fall beneath demand sometime soon, OPEC released a new market whammy, offering up the cartel's production figures, which largely jive with figures reported by the IEA yesterday: OPEC has increased its oil production.
Paul Goodfellow: Shell’s iconic Brent field, 40 years on
Forty years ago today, production began at the Brent oil and gas field in the North Sea. Coming just two years after the first major oil shock, when an embargo led to dwindling supplies and spiralling prices in the West, Brent helped quell government and consumer anxiety over energy security for the UK.
Opinion: Energy Storage – Is the regulation ready for what’s in store?
The Challenge
Opinion: This is America’s Brexit – now let Trump get on with the job
The oil industry is renowned for straight talking, brash arrogant ego driven people, and indeed many emulate the characters, and we see it on TV and in movies regularly. People who don’t take no as an answer, people who push harder for more and of course people who strive for success.
Trump victory a blow for renewables, bodes well for hydrocarbons, Douglas-Westwood says
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidates across a spectrum of policy positions.
Opinion: A maze of fractured relationships
There is a limit to how long the Scottish Government can delay the biggest energy and industrial policy decision that it faces and for which no buck is available to pass. To frack or not to frack, that is the question?
Opinion: Scottish Government dithering over fracking decision
Another statement to parliament, more scientific evidence, yet we are no clearer on the Scottish Government’s position on fracking.
Opinion: SNP fracking approach is ‘democracy in action’
Yesterday the Scottish Government did something that has angered the opposition MSPs; they reminded Holyrood that the people of Scotland will have a direct say on one of the most contentious energy decisions in our country.
Opinion: Houston’s ‘Mushy Bottom’
On September 28, the Organization of the Petroleum Exporting Countries (OPEC) announced it had reached a tentative deal to cap production between 32.5 and 33.0 million barrels per day. The agreement would remove 0.5 to 1.0 million barrels from the global market. Commodity traders reacted immediately to the news, boosting the spot price for West Texas Intermediate (WTI) and Brent by $2 per barrel that day. September closed with WTI at $48.24 and Brent at $49.24, nearly double their February lows.
Opinion: Why not a budget UK-owned well P&A Co?
Decommissioning ...it’s one of the hottest topics of the day in the North Sea despite there being many billions more barrels equivalent of oil & gas resources still to chase.
Opinion: Challenging times call for radical measures
Challenging times call for radical measures, and in the North Sea oil and gas sector these are certainly challenging times.
Opinion: OPEC needs friends and a miracle to achieve output cuts
If this is what an OPEC agreement looks like, it's no wonder investors are losing faith.
Opinion: Can Oil Markets Survive An OPEC Implosion?
A technical meeting that was supposed to iron out some wrinkles for a deal to cut oil production ended in acrimony over the weekend, and OPEC's effort at coordination could be at yet another impasse.
Opinion: The importance of being international
We all know that oil and gas is a true global market and wherever there is oil and gas in the world, there is a Scottish accent not far away. The true global reach of our oil and gas sector is there for all to see – over half of Scottish oil and gas supply chain sales now go to international markets compared to around third of the total around a decade ago.
Opinion: BP’s low key strength vs Shell’s headline surprise
Shell's surprise rise in headline quarterly profits is rightly impressing shareholders, whilst rival BP still has work to do.
Opinion: Oil & gas sector heavily dependent on efficient artificial lift systems
The oil and natural gas industry is the largest consumer of the artificial lift systems market, as it improves production efficiencies of existing oil reservoirs.
Opinion: Women in engineering; A view from the next generation
On 26th October 2016, St Margaret’s School for Girls held a Girls into Engineering Conference in collaboration with Aberdeen University. We were thrilled to have a fully packed day ranging from hands on activities to inspiring talks.
Opinion: All hail Saudi Arabia’s victory in war on high-cost oil
We had BP's "Beyond Petroleum," now Saudi oil minister Khalid Al-Falih is setting the scene for "Beyond Market Share."
Opinion: Desperate to know the oil price? Wait for it…
A major driver of oil prices is the balance between global demand and supply. Unfortunately for those looking to guess at where oil prices will head next, both are much harder to accurately measure than much of the commentary would imply.
Opinion: Challenging the ‘delusion’ of cheap, safe and shale extraction
There are distinct similarities between the 1848-1855 gold rush and the recent US frenzied rush to tear apart its shallow shale beds regardless of cost to people and the environment. Greed drives the free world to the strangest activities which are then justified by the buying of scientific ‘objective’ evidence in support of its folly.