After a period of stagnation following the fall in the oil price in 2014 there is now evidence of an increasingly attractive environment for deal-making in the UK Continental Shelf (UKCS).
A top north-east accountant has been appointed as EY’s global oil and gas tax lead.
The pace of mergers and acquisitions (M&A) activity will provide the “litmus test” for the UK North Sea’s health in the coming years, a tax expert has said.
Major oil and gas operators may withdraw from less profitable parts of the North Sea over the next year but that shouldn’t be viewed as a bad move, according to one of the industry’s leading economists.
Foreign investment in Scotland is at a 10-year high thanks to huge projects like Equinor’s Mariner.
An improvement in the global merger and acquisitions market (M&A) in the next 12 months is expected by 90% of oil and gas executives, according to industry experts.
As the 2018 Offshore Technology Conference week draws to a close, optimism in the oilfield services sector is returning. Sean P. Heinroth, Vice President at EY Parthenon in Houston, explains why the market environment, from North America to the North Sea, is more positive.
Building an agile workforce, establishing a culture of innovation and embracing technology and big data will be crucial to success in the oilfield services sector. Gemma Noble, Audit Director at EY, and Luke Johnson, CEO at Cognitive Geology and finalist in the ‘Rising Star’ category of EY Scotland Entrepreneur of the Year 2018, explain why.
The UK has climbed to the seventh most attractive country in the world for renewables, according to a new report.
As companies have continued to consolidate during the oil and gas market downturn, Céline Delacroix, Associate Partner, EMEIA Oilfield Services at EY, explains how this activity is creating investment and growth opportunities in the oilfield services sector.
Digitalisation is the word on everyone’s lips in the North Sea supply chain, a partner at EY has said.
After what has been one of the most challenging downturns in the history of the UK oil and gas industry, we are starting to see tangible signs of recovery with new entrants investing in the North Sea; an increase in transactions; and further reductions in operating costs from $30/boe to $15/boe.
Last month, EY launched its seventh annual review of UK oilfield services and the analysis revealed that huge opportunities remain for the sector but they will only be realised by disrupting the status quo. At a time when failing to innovate puts firms at risk, creating a culture of innovation is a critical theme for the future of the sector.
Oilfield services leaders in the UK have been told they have “done well to survive” but need to get over risks around innovation.
The UK oilfield services (OFS) sector is now “back from the brink” after reporting a drop in turnover of 15.5% for 2016, according to a new report from EY.
The expression ‘cautious optimism’ continues to dominate the oil and gas sector, and over the course of the past 12 months the pendulum has swung back and forth between these two words.
As the dust settles on the first Autumn Budget for over two decades, one might reasonably conclude it was, outside of the oil and gas sector, a bit of an anti-climax.
The Chancellor's pledge to reform oil and gas tax law could help revitalise the North Sea, an industry tax expert said.
The UK oil and gas industry has good reason to be expectant of further changes to the oil and gas fiscal regime in Wednesday’s Budget.
Traditionally the first Budget of a new Parliament might be expected to lay the foundation for the remainder of the parliamentary term, and set out the broad framework of policy that the Government expect to implement.
Professional services giant EY has said its business in Scotland grew by 11% in the financial year to the end of June.
The UK retains 10th position as an attractive area for renewable investment in the EY’s Renewable Energy Country Attractiveness Index (RECAI).
The oil and gas industry should prepare for the "fourth industrial revolution", it was claimed this morning.
Decommissioning is not the dark cloud over the UK oil and gas industry it has sometimes been portrayed to be. While it does present significant and inevitable challenges, none of these are insurmountable and if tackled in the right way there is a huge opportunity to drive further value from the UK Continental Shelf (UKCS) whilst also maximising economic recovery provided. However, this will require detailed and co-ordinated decommissioning strategies to be implemented across the industry.
As we approach Offshore Europe 2017, it’s worth considering the progress that the oil and gas sector has made in the UK since the previous conference in 2015.