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Europe

Oil & Gas

Atlas Knowledge nets pipeline project contract

Atlas Knowledge has secured a contract to deliver safety training for workers involved in the Trans Adriatic Pipeline (TAP) project. The deal will see a total of 11 courses delivered to almost 300 onshore personnel working on the planned construction of the pipeline. It will bring natural gas across Greece, Albania and Italy through the Southern Gas corridor.

Other News

European Energy regulator UK gas decision criticised

Industry body Oil & Gas UK and the Gas Forum have criticised a decision by the European Energy regulator regarding changes to the EU Network codes. A call has been made for the UK to retain its existing ‘gas day’ of 6am until 6am. However ACER , the European Energy Regulator, has decided that, from October 1 2015 the UK gas market will have to operate two different gas days for its upstream and downstream network.

Renewables/Energy Transition

Report shows influence of environment on subsea cable lifecycles

A report has been published on the performance of subsea cabling in high energy environments to support the development of commercial wave and tide energy sites. The aim of the analysis, by the European Marine Energy Centre (EMEC) and The Crown Estate, is to improve the industry’s understanding of how best to specify and manage subsea cables. Tests were done by investigation how the cables installed at EMEC test sites in Orkney have been performing since installation.

People

Top position at Woodgroup PSN filled

One of the top positions at an Aberdeen-based oil and gas company has been filled by a worker with around 40 years experience in the industry. Dave Stewart has landed the role of chief executive officer at Wood Group PSN and will begin in the role in April 2015.

Oil & Gas

Former BP North Sea boss claims North Sea operations facing ‘early death’

The former head of BP’s Aberdeen-based North Sea operation warned yesterday the UK oil and gas industry is facing an early death unless there is swift political action to prevent it. Dave Blackwood, who retired from BP in 2009 and is currently a non-executive director with Granite-based energy service firm Expro Group, was speaking as reports in Saudi Arabia said the kingdom was prepared to increase its oil output and claim a bigger global market share, potentially putting further pressure on the UK industry after the oil price slump of recent months. Adding his voice to widespread calls for swift tax cuts for North Sea operators, Mr Blackwood said: “Nothing less than radical change will prevent the premature demise of the basin, let alone maximise economic recovery.”

Opinion

Opinion: We need to make sure Aberdeen retains its position as the energy capital

As Leader of Aberdeen City Council I felt it was important to try and take a lead on how politicians interact with the Oil and Gas Industry. Aberdeen is a global city that has achieved so much success thanks to the Oil and Gas industry being on our doorstep. It concern us all that the price of oil has dropped so heavily in such a short space of time and whilst we accept there will always be fluctuations in the price of oil I believe the time is now right for the industry and governments at all levels to work together to maintain confidence in the North Sea.

Other News

Oil, the ruble and Putin are all headed for 63

Heard the one about Vladimir Putin, the oil price and the ruble’s value against the dollar? They will all hit 63 next year. That’s the joke doing the rounds of the Kremlin as the Russian government digs in to weather international sanctions over the conflict in Ukraine. According to at least five people close to Putin, pressure from the US and Europe is galvanizing Russians to withstand a siege on their economy. The black humor is part of an image of defiance not seen since the Cold War. As the economy enters its first recession in more than five years, the ruble depreciates to records and money exits the country, Putin’s supporters are closing ranks and say he’s sure to run for another six-year term in 2018.

Europe

Price drop spurs demand in Southern Europe

The plunging oil price is giving an unexpected lift to Europe’s crisis-battered southern periphery as decreasing fuel costs help spur demand. Spain, Europe’s fourth-largest economy, could add as much as 1 percent to annual growth with oil prices between $80-90 a barrel, the government said. Italy, which is in its fourth year of recession, stands to boost GDP 0.3% points with a sustained $10 oil price drop, according to BNP Paribas SA. “There’s no doubt lower oil prices will act as a stimulus to growth in the region,” Frederik Ducrozet, a Paris-based economist at Credit Agricole, said. “Greece, Spain, Portugal and Italy would be clear beneficiaries.”