‘Niche market’ needed to develop marine renewables in Scotland, report claims
A new report published has called on industry and government to work together to develop opportunities for the use of marine renewables in the oil and gas sector.
Aberdeen University
Life after oil: Double redundancies see Aberdeen oil manager switch to teaching
An Aberdeen oil boss has said he is “excited” after making the decision to trade up his 20-year energy career for his passion for teaching.
Scottish Eco-Marathon teams look to future after Covid-19 disappointment
Scotland's Shell-backed Eco-Marathon teams have vowed to come back even stronger next year after the Covid-19 pandemic resulted in the cancellation of 2020 track events.
New report blames nuclear power for big Scottish wind farm shutdown payments
Huge sums payed to Scottish wind farms to stop generating electricity are directly related to the difficulty of shutting down nuclear power facilities, according to a new report.
‘Relief’ for some as oil rises past $40, but North Sea activity to remain depressed
Oil prices rose past $40 per barrel mark on Wednesday amid speculation that quotas for international production cuts could be kept higher for longer.
UK oil industry facing ‘very tough’ future, new report shows
The “astonishing” changes in the world oil market have left the North Sea industry facing a “very tough” future, a top petroeconomist has warned.
Oil rebounds to $30 but still too low for North Sea
Brent Crude’s rebound yesterday brought it up beyond $30, but the figure is still too low to make an impact for the UK North Sea.
Decommissioning: beyond the challenges of oversupply, pandemic and recession
After weathering the storm that was the price collapse of 2014, the oil industry has again been hit in recent months by two new blows almost simultaneously: oversupply (caused by the failure of negotiations between Saudi Arabia and Russia to agree on production cuts and the aggressive response of the former); and a demand shock (reflecting the economic impact of the Covid-19 lockdown).
Life extension for Bruce, but end may ‘hasten’ for other North Sea fields
Cutting costs has added years to the life of Serica Energy’s Bruce platform, but other operators may need to "hasten" the end of some North Sea assets according to CEO Mitch Flegg.
UK North Sea platforms ‘face production shut-ins’ as oil storage fills up
Offshore platforms in the UK North Sea “face the risk of production shut-ins” due to oil storage constraints, according to leading analysts.
‘Cataclysmic’ event needed for Brent Crude oil to go negative like US benchmark
A leading petroleum economist has said it would “require something cataclysmic” for the international oil benchmark to follow that of the US into negative pricing.
Still ‘tough’ times ahead for North Sea firms despite global 10m barrel reduction deal, Prof Kemp says
North Sea firms still face “very tough” times despite the Opec cartel and its allies striking a landmark deal to reduce output by almost 10 million barrels of oil per day, a top petro-economist has said.
Next generation rewarded with bursaries for innovation
The Society of Petroleum Engineers (SPE) Aberdeen has awarded £27,500 to 21 students as part of its 2020 bursary programme.
North Sea fields facing swifter end to production due to oil price drop
A number of North Sea oil fields will be facing a swifter end to their economic life due to the recent oil price drop, according to a leading petroleum economist.
Call to action over ‘shocking’ lack of women applying to Aberdeen’s oil and gas uni courses
A call to action been made after new figures revealed a “shocking” lack of women applying to oil and gas and energy-related university courses in Aberdeen.
Prolonged price war threatens return of ‘brutal’ cost cuts, experts say
A price war between two of the world’s biggest oil producers has sparked one of the worst crude routs in decades, putting companies under “huge pressure” and threatening “brutal” cost cuts.
‘Needle in a haystack’ could prove lucrative for Aberdeen University
Aberdeen University researchers have made a “needle in a haystack” discovery that could “unlock” a fuel cell market estimated to be worth almost £800 million by 2025.
North Sea firms to ‘think harder’ about investments after Brent slipped below $50
Plunging oil prices are likely to make North Sea companies “think harder” before making investment decisions, industry experts said on Friday.
Oil and gas-funded malaria doc urges calm over coronavirus
An oil and gas-funded malaria doctor, who lectured at Aberdeen University for 10 years, has urged people not to “panic” about the coronavirus.
Updated: Virus-induced oil price slump harks back to Sars, Aberdeen oil experts say
Oil and gas shares were hit yesterday by a drop in crude prices brought on by the deadly Coronavirus outbreak originating in China.
Potential for ‘thousands’ of jobs as Sir Ian Wood unveils plans for Aberdeen ‘Energy Transition Zone’
Sir Ian Wood has unveiled ambitious plans to help the north-east economy capitalise on the energy transition, potentially creating “thousands” of jobs in the process.
Oil downturn brings end to North Sea Bird Club after 40 years
The effects of the oil downturn have brought the end to a 40-year-old scheme to record sightings of birds and marine life in the North Sea.
‘Elevation’ for oil prices as Iran threatens retaliation for US attacks, Kemp says
Oil prices are likely to remain “elevated” after a US airstrike heightened the prospect of supply disruption from the Middle East, a prominent Aberdeen petro-economist said today.
Oil industry welcomes new UK government ahead of sector deal and IR35 changes
The oil and gas industry has welcomed the new UK government as it looks ahead to a “transformational” sector deal and braces for tax changes for thousands of contractors.
Smart solutions needed to meet decommissioning challenge
With a decommissioning bill currently estimated at around £50 billion for the UKCS alone, the pressure is on to get the job done for even less – and smarter.