‘Inevitable’ North Sea will remain a target for Treasury, says KPMG boss
A financial expert says the oil and gas industry is up against it to deliver for the UK against the backdrop of a growing windfall tax.
KPMG
Energy transition expert says industry must use ‘data and facts’ to combat ‘image problem’ following oil protest
Aberdeen University’s energy transition lead believes academia faces an uphill struggle in setting out the merits of the oil and gas industry to some students.
‘Machiavellian manoeuvres’ and UK high taxes put energy transition at risk – survey
Political instability has been flagged by the UK energy sector as the biggest obstacle to companies transitioning to net zero, according to a new report.
Windfall tax risks ‘destabilising £200bn of energy investments’ warns industry chief
A windfall tax, reportedly due to be announced today, risks “destabilising” a planned £200bn of investment in the UK energy system this decade, the industry trade body has warned.
Windfall tax fundamentally wrong but industry must ‘suck it up’
A windfall tax on energy profits will send the wrong signal to investors but looks increasingly inevitable, according to a senior partner at KPMG in Aberdeen.
Aberdeen chamber report: Govt must ‘step-up and back’ energy industry transition as oil and gas demand grows
A business group has renewed demands that government must put support behind low carbon projects in the north east that will "shift the dial" as concerns have been raised that confidence in key low carbon technologies such as carbon capture and storage (CCS) has faltered, a new report has found.
Industry calls for rapid action on Queen’s Speech energy measures
Leaders from across the energy sector praised measures outlined in the Queen’s Speech to accelerate renewables and net zero efforts, but decried a lack of efficiency measures and short-term support for consumers.
AGCC launches ‘most significant’ survey yet of North Sea energy sector
Aberdeen and Grampian Chamber of Commerce (AGCC) has said it has launched what is expected to be its "most significant" survey yet for the offshore energy sector.
Storegga appoints former KPMG energy boss as head of regulation and policy
Low carbon technology firm Storegga has appointed Nicola Cocks as its new head of policy and regulation.
‘Today, it jars’: Over 40% of Aberdeen oil firms have not signed up to net zero targets, finds survey
A significant percentage of oil and gas firms in the Aberdeen area are yet to sign up to net zero targets, according to a new survey from the chamber of commerce and accountancy firm KPMG.
How we grow from here matters
On September 16, 1987, a historic event took place in my home country of Canada. The Montreal Protocol on Substances that Deplete the Ozone Layer was signed by 46 nations and territories and later ratified by all 197 United Nations members.
Cost to bury carbon near tipping point as emissions price soars
Skyrocketing carbon prices and a “code red” warning about the threat posed by climate change are giving fresh momentum to a technology that captures and removes greenhouse gas emissions so they can be buried.
KPMG appoints former EY oil and gas partner to energy practice
The “big four” accountancy firm KPMG has appointed a former oil and gas partner at rival EY to its energy practice.
Four Serba Dinamik directors quit after firm’s suit against KPMG amid finance scandal
Four independent non-executive directors of Serba Dinamik have resigned, citing differences of opinion over the Malaysian oil and gas services company’s decision to take legal action against its former external auditor, KPMG.
Recruiter TMM brings in private-equity expert as chairman
A recruitment agency based in Aberdeen has appointed private-equity investment expert Jock Gardiner as its chairman.
Red flags for Malaysia’s Serba Dinamik amid finance probes
Serba Dinamik, one of Malaysia’s leading oil and gas service and equipment companies, has been put on a Rating Watch Negative (RWN) list by Fitch Ratings as the firm faces an investigation over unverified contracts.
Survey shows lift in optimism for UK oil industry, more firms target renewables
A new survey has highlighted a “significant improvement” in confidence levels among North Sea oil and gas contractors who are also increasingly looking to weigh in for the energy transition.
Former Ofgem chief joins Storegga board
Storegga Geotechnologies, the lead developer behind a north-east carbon capture and storage (CCS) project, has appointed Alistair Buchanan CBE as a non-executive chairman.
Now more than ever, business leaders must get ESG reporting right
Recently I was briefing one of my fellow colleagues at KPMG ahead of a meeting with a Government Minister. He asked me about ESG reporting and as I marshalled my thoughts it came home to me just how critical reporting really is to progressing this agenda.
Transition deal hailed for recognising industry’s role, but some reserving judgement
Energy sector figures have hailed the North Sea Transition Deal for recognising the oil and gas industry’s key role in the UK’s shift to net zero.
Calls for UK Government to put net zero at heart of upcoming spring budget
Westminster is being urged to ensure that plans for net zero remain a “top priority” for businesses and society in its upcoming spring budget.
Libya talks digital transformation with KPMG, meets UK officials
National Oil Corp. (NOC) and KPMG Tunisia have reached a deal on new financial and administration systems.
KPMG targets energy transition with new specialist advisory practice
Accountancy firm KPMG has launched a new specialist energy lead advisory practice with the aim of supporting clients through the energy transition.
Energy transition commitments could go some way to reversing North Sea pessimism
It’s hoped commitments to put energy transition “at the heart” of economic recovery plans could go some way to reversing negative trends in the oil and gas industry.
North Sea firms warn further job losses on the horizon, confidence falls to lowest level since 2015
Around a fifth of North Sea oil and gas contractors have warned they expect to make further job cuts in 2021 as they continue to deal with ongoing turmoil in the sector.