The North Sea will take a £17.5 billion hit from the new windfall tax, the Aberdeen and Grampian Chamber of Commerce (AGCC) has claimed.
Windfall tax measures announced by Rishi Sunak could "accelerate" major UK oil and gas projects like Cambo and Rosebank, according to experts.
Reaction to news that the leading trade body for the North Sea, Oil and Gas UK (OGUK), is rebranding has varied from claims of it being a “PR stunt” to praise for a move that’s “not before time”.
Soaring gas prices caused the demise of a raft of energy suppliers in 2021 and will likely lead to a “crisis” rise in household bills next year, industry experts have warned.
New research has shed light on the role of the Piper Alpha disaster in preventing further oil and gas releases in the North Sea.
A renowned petro-economist believes carbon pricing will be one of the “sticks” the UK Government uses to compel oil firms to invest in emissions-busting technologies.
A top petro-economist said today that the Covid-19 mutation had left an “open question” about the direction of Brent crude prices in the coming weeks.
North Sea operators have shelved more than half a billion pounds of decommissioning spending, according to a new report from Oil and Gas UK (OGUK).
Efforts to reduce the UK's offshore decommissioning bill last year were "largely negated" by 5% of operators who increased their costs by £1billion, according to the Oil and Gas Authority (OGA).
The “astonishing” changes in the world oil market have left the North Sea industry facing a “very tough” future, a top petroeconomist has warned.
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.
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.
A slump in crude prices following the collapse of high-stakes talks today has created a “real danger” that North Sea oil firms will delay investing in new fields, a top petroeconomist said.
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.
A prominent petroleum economist is urging government to introduce policies paving the way for the delivery of more UK North Sea oil.
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.
A group of nations which aims to manage the global oil supply was last night poised to make further production cuts in a bid to stabilise the oil price.
North Sea oil and gas receipts should go towards a "net-zero fund", according to Scotland's First Minister Nicola Sturgeon.
A prominent petro-economist has labelled the Labour Party’s plans to impose an £11 billion “windfall tax” on the oil and gas industry “misguided”.
A leading petroleum economist has said there are “positive signs” that a new law is making an impact on North Sea deals, a year on since it came into effect.
A rule placing liability on operators for any post-decommissioning incidents could be a “key part” of the Shell Brent debate, according to a petroleum economist.
The oil price spike caused by a drone attack on a major Saudi processing facility will provide a welcome − but short-lived − boost to North Sea revenues, a prominent petroleum economist has said.
The North Sea energy industry could recover another two billion barrels of oil if operators can collaborate on untapped discoveries, according to a new study.
A handful of firms have been awarded blocks in a specific offshore licensing round to develop the Greater Buchan Area in the North Sea.