EY Guest Editor: Chancellor to keep close eye on state of North Sea industry
As the dust settles on Philip Hammond’s first (and last!) Autumn Statement, it is worth taking stock of the impact of the announcement on the oil and gas sector.
autumn statement
Opinion: Lack of detail on UK Government commitments to North Sea ‘a worry’
It would seem logical that if the UK’s once largest corporation tax payer was going through a difficult time, the UK Government should be trying to do all it can to support it and boost growth and future developments.
Autumn Statement 2016: OGUK says “strong signal” being sent to investors
Industry body Oil & Gas UK said a "strong signal" has been sent to investors by the UK Goverment with their recommitment to a driving investment plan.
Autumn Statement 2016: Additional £800m allocated to Scotland
Scotland will receive a “very significant” £800 million boost to its budget, Chancellor Philip Hammond has said.
EY Guest Editor Video: Derek Leith gives his view on the Autumn Statement
EY’s head of oil and gas taxation gives his quick round-up of this year's Autumn Statement.
Autumn Statement 2016: Shell says government has shown support for sector
Oil major Shell said the reaffirmed measures in the Autumn Statement would continue to help deliver a "strong and sustainable" future for the North Sea.
Autumn Statement 2016: SNP accuse Hammond of “failure” on oil and gas
UK Chancellor Phillip Hammond has been accused of "complete failure" after no new measures were revealed in the Autumn Statement for the North Sea oil and gas industry.
Look to Opec for good news, not the Chancellor, Colin Welsh says
North Sea industry should look to Opec for good news, not Chancellor Philip Hammond, an energy finance expert said today.
Opinion: We could do well to remember the UK’s support for the North Sea
I don’t think the industry was expecting any major changes to the fiscal regime for the North Sea today, given the overhaul we have seen over the last two Budgets.
EY Guest Editor: Derek Leith on what to expect from the Autumn Statement
EY’s Derek Leith explains why it is unlikely we will see any further changes to the North Sea fiscal regime in the Autumn Statement 2016. However, the oil and gas industry will have huge interest in what the Chancellor has to say on the many other pressing issues affecting the wider economy.
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.
Autumn Statement 2016: Wishlists from industry and MPs
The far-reaching impact of the oil price crash on the north-east was highlighted last week with new figures showing a rise in the number of people claiming benefits.
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.
Autumn Statement 2016: Scottish Government, Labour urge Chancellor to support North Sea, drop austerity
Labour and the Scottish Government are both calling on the Chancellor to end austerity, boost support for the North Sea oil and gas industry and stop welfare cuts, ahead of the Autumn Statement.
Autumn Statement 2015: Unfinished business?
With the Autumn Statement announced this week, Derek Leith, UK head of oil and gas taxation at EY, continues in the role of Energy Voice’s guest editor. Follow along each day as he spells out the challenges and triumphs the industry faces.
Osborne accused of “ridiculing” North Sea’s fall in revenues
George Osborne was accused last night of abandoning the North Sea as he announced UK oil and gas revenues are predicted to plummet by 94% this year.
OGUK reacts to Autumn Statement
Oil & Gas UK's economics director Mike Tholen said it was important the industry continue to boost confidence and encouragement investment in the North Sea following Chancellor George Osborne’s Autumn Statement and Spending Review.
Treasury accused of “abandoning” oil and gas industry
The Treasury is abandoning the UK’s struggling oil and gas industry by failing to provide short term fiscal support, according to an industry analyst.
Chancellor accused of cutting energy efficiency support
The Chancellor has been accused of slashing support for energy efficiency measures, as figures show a surge in the number of excess winter deaths last year.
Autumn Statement 2015: Oil and gas industry will have to be its own saviour
Chancellor George Osborne gave the North Sea oil and gas industry a clear signal that it will have to become its own saviour - by saying nothing about it in his Autumn Statement.
Video: Autumn statement – did the industry deserve more?
Energy Voice’s guest editor for the week, Derek Leith, breaks down the Chancellor’s latest Autumn statement. EY’s UK head of oil and gas taxation discusses whether the industry deserves as much airtime as the steel sector, cost efficiency versus taxation and what to expect next. Watch the video to find out more.
Autumn Statement 2015: Can Chancellor offer fresh fiscal support?
As the Autumn Statement is announced this week, Derek Leith, UK head of oil and gas taxation at EY, has taken up the role of Energy Voice’s guest editor. Follow along each day as he spells out the challenges and triumphs the industry faces.
Autumn Statement 2015: Guest editor Derek Leith says we need reassurance
As the Autumn Statement is announced this week, Derek Leith, UK head of oil and gas taxation at EY, has taken up the role of Energy Voice’s guest editor. Follow along each day as he spells out the challenges and triumphs the industry faces.
Opinion: Will the Autumn Statement bring some respite for the renewables sector?
On 25th November, the Government will announce a joint Spending Review and Autumn Statement. Economic security, national security and opportunity have already been identified as the major themes, but with the Paris climate change conference just around the corner, could there be some respite for the hard pressed renewables sector?
‘Speed up tax plans to spur exploration’
Offshore industry chiefs have urged the UK Government to speed up measures to support the sector after coalition ministers unveiled radical plans to reward North Sea investment. Tax regime changes aimed at making sure as much oil and gas as possible is extracted have been welcomed by operators. But they want them implemented sooner rather than later because of the challenges posed by low crude prices and high exploration costs. Highland MP and Chief Secretary to the Treasury Danny Alexander, and Exchequer Secretary to the Treasury Priti Patel, were both in Aberdeen yesterday to present their department’s financial review of the sector.