A global expert has claimed Aberdeen’s diversification and regeneration is “paying dividends” as it was announced £8.4 billion of public and private investment is due to be delivered to the north-east before 2030.
The oil capital of Europe may have weathered the storm of a collapse in the price of Brent crude but a recent upturn in business could lead to some tricky mergers ahead, it has been warned.
The value of exploration and production activity across the UK Continental Shelf (UKCS) continues to rise with firms also now equally optimistic about the North Sea and international markets for the first time since 2013.
Everyone knows the oil and gas industry has gone through a few very tough years. The North Sea was particularly susceptible being so dependent on oil and gas, with almost 200,000 people losing their jobs since the downturn began in 2014. That’s 39% of those employed in the industry out of work.
New reports out today from banking groups CYBG and Bank of Scotland (BoS) paint a less than rosy picture of the current mood among Scotland’s businesses.
Former and redundacy threatened oil and gas industry bosses taking part in a new scheme which aims to help them find new work had previously applied for 818 jobs, which led to just 37 invitations to interview.
A tally of investment projects in north-east has highlighted that the region will get an injection of £5billion in coming years and that it is "open for business".
Oil and gas skills body Opito has called for clarity over the impact the £3billion Apprenticeship Levy on the industry after the UK government set out how the controversial tax will work in England.
Oil and gas operators have seen a 15% reduction in their UK-based headcount over the past 12 months – and they expect a further decline of 17% in the year ahead.
The latest Aberdeen and Grampian Chamber of Commerce (AGCC)/Fraser of Allander Oil and Gas Survey is the first since Russell Borthwick became AGCC chief executive earlier this year.
Aberdeen and the north east of Scotland is shaking off years of complacency as it bids to repositioning itself in a diminished oil market, according to the boss of the region's Chamber of Commerce.
Mozambique's potential to become one of the largest gas producers in the world can provide Aberdeen supply chain companies with new opportunities to export their North Sea expertise, according to industry experts.
Confidence levels among oil and gas contractors working in the North Sea have hit an all-time low, with a large majority believing job losses will continue over the next year, an industry report has found.