Oil and gas logistics firm FreightCo goes bust, 19 jobs lost
The FreightCo group has gone bust, with 19 jobs shed among its 24-strong workforce, the provisional liquidators said yesterday.
KPMG
North Sea energy firms ahead of the curve for confidence, KPMG report says
New research from KPMG has highlighted a growing gap in business confidence between North Sea energy firms and the wider Scottish and UK economies.
North Sea firms show confidence in future by investing, chamber survey says
Oil and gas firms are convinced that Aberdeen can cement its place as an energy powerhouse while making the transition to a low-carbon future.
KPMG urges the oil and gas industry to plan ahead for changes to IR35
In the Chancellor’s most recent Autumn Budget the UK government confirmed plans to reform the IR35 tax legislation for the private sector.
Oil supply chain firms showing ‘zombie’ symptoms, KPMG says
Oil and gas supply chain firms are among a large number of Scottish companies showing "zombie-like" symptoms, KPMG has said.
Opinion: Visions of cheese
Whilst we are seeing a clear uptick in activity and the UK oil and gas industry is certainly on the way up again, the industry must continue to move forward. However, under current market conditions, how can companies capitalise on change whilst remaining stable and sustainable and, more importantly, will there be enough return for all?
KPMG: The challenges of assessing third party risk
There is increasing pressure on oil and gas companies in Aberdeen to address the risks associated with counterparties, be it suppliers, agents, vendors, contractors or joint venture partners - the list goes on.
Bristow casts doubt on future, flags ‘weaknesses’ in financial reporting
The US firm behind a major North Sea helicopter operation has cast doubt on its own future.
North Sea industry hopes oil settles at $60-70 for longer
Oil prices settling in a sweet spot of $60-70 per barrel would give North Sea firms more confidence to kick on with investment plans, industry experts have said.
‘More oil price upside than downside in the near term,’ observers say
Unpredictability is the only certainty in the world of crude prices. But oil industry observers believe crude prices are more likely to rise than fall over the coming months.
Investing in Norway doesn’t have to be taxing
With recent reports of several new development plans on the horizon for Norway, the Norwegian energy industry is anticipating a promising three to four years of activity ahead. Wider areas of Norway are now being explored, including the West Barents Sea, and discoveries such as Johan Sverdrup and the extension of the Norne field by the Cape Vulture discovery, along with the Johan Castberg, will require new thinking and, in turn, attract new companies to enter the market.
Energy sector on Brexit – 2018 has been a long year and it isn’t over yet
Martin Findlay, Partner, KPMG LLP (UK), looks at the latest developments around Brexit from an oil and gas sector and business readiness perspective.
Equinor to replace KMPG with EY as auditors next year
Energy giant Equinor has announced it will replace audit, tax and advisory firm KPMG with accounting firm EY in 2019.
KPMG announces promotions within Aberdeen tax team
KPMG has announced eight senior promotions across Scotland in its audit, tax and pensions practices.
Opinion: Thinking differently about change and the value of emerging technologies
The oil and gas sector is well versed on the benefits of investing in emerging and disruptive technologies, but what is the appetite for innovation in Scotland, and how can we ensure that new technologies are utilised fully in our industry and help our industry to thrive?
Exploring a new way to budget in oil and gas – KPMG
KPMG UK explains how alternative cost management models can deliver more sustainable budgeting for the Upstream Oil and Gas industry.
Rise in Scottish business failures, KPMG says
Scottish business failures rose during the first three months of 2018, compared to the same quarter last year, new figures show.
Plenty of longevity in North Sea despite mixed messages, says KPMG
An oil and gas expert insists there is investment “for many years to come” in the UK Continental Shelf, despite recent mixed messages about its longevity.
KPMG: Will 2018 be the year of consolidation in oilfield services?
After mergers and acquisitions (M&A) activity fell to its lowest levels in a decade in the first half of 2016, there was a notable pick-up in oilfield services (OFS) deals in 2017. However, with the rationale behind each deal varying, it is difficult to discern a clear single market driver behind these recent transactions.
KPMG reveals key to reducing operating costs by 30%
Oil exploration and production companies could lower unit operating costs (UOC) by another 30% if they deliver just a few changes, KPMG said in a new report.
NnG offshore wind farm seeks equity partner
Wind and solar company Mainstream Renewable Power has begun the selection process to bring a majority equity partner on board the Neart na Gaoithe (NnG) wind farm.
KPMG says oil tax reform ‘levels playing field’
KPMG has said that ground-breaking new oil and gas tax rules would create a "level playing field" for North Sea investors.
Scottish Parliament bans fracking as Tories lament missed ‘gold rush’
A north-east Conservative said the Scottish Government’s fracking ban means the country missing out on “what should have been the gold rush of this century” after it was backed by Holyrood.
ABB to propose KPMG as external auditor from 2018
ABB announced today that its Board intends to appoint KPMG as its external auditor effective for the financial year 2018. This decision was taken following a year-long comprehensive external auditor tender process initiated in 2016 in line with international good governance practices.
Fewer oil company insolvencies than expected, KPMG says
There have been fewer insolvencies of oil and gas companies than expected over the past three years, a restructuring specialist has said.