Oil and gas majors must compromise to deliver an upturn in the sector’s fortunes, an industry analyst said yesterday. Stephen Halliday, group president of consultancy group Wood Mackenzie, said the energy industry was competitive by nature and that for serious progress to be made, the sector’s leadership had to get in a room together and collaborate. It comes days after PwC published a report saying the industry needed a “change in guard at the top” to disrupt its “we’ve always done it this way” mentality.
The Scottish Government is heaping pressure on George Osborne to provide immediate support for oil and gas exploration in the North Sea.
The Scottish cabinet secretary for the Economy, Jobs and Fair Work will address this year's Oil & Gas UK annual conference.
An estimated 120,000 jobs will have been lost by the end of this year as a result of the collapse in fortunes of the UK offshore oil and gas industry.
A visit by ministers to Aberdeen yesterday was welcomed as a “strong signal” that the Scottish Government was “open for listening” to the region’s oil and gas industry.
Trade body Oil & Gas UK (OGUK) us seeking data experts to help the industry make sense of one of the world’s largest collections of subsurface oil information.
The boss of industry body Oil and and Gas UK has moved to clarify comments she made to MPs after angry oil workers objected to her claiming they "get it" about why cost cutting measures are being taken by companies.
Oil and Gas UK (OGUK) aims to build on the momentum gathering behind efforts to reduce energy sector costs with the first in a new series of “share fairs”. The industry body’s new share fairs aim to spur collaboration by giving supply chain companies a chance to have one-to-one interviews with operators’ decision-makers and listen to presentations on key topics. The first event in OGUK’s Aberdeen office on Wednesday, April 27 will focus on the theme of maintenance and repair.
Industry body Oil and Gas UK (OGUK) yesterday urged the next Scottish Government to make a quartet of commitments to help energy companies steer a course out of the downturn. OGUK said the government needs to create a supportive business environment, delivery world-class infrastructure and connectivity, help innovation flourish and support skills retention.
The latest revision of well integrity guidelines have been published by industry body Oil and Gas UK.
Oil and Gas UK today made a rallying call to the UK government to rethink its tax strategy or risk costing the North Sea a billion barrels of oil and hundreds of thousands of jobs.
North Sea oil and gas production will collapse as early as 2020 unless the basin sees greater investment, an industry expert has warned.
The UK North Sea has become a “super mature” field, experts have claimed, as a new report lays bare the effect of the oil price crash on the economics of the basin.
The UKCS is entering a phase of ‘super maturity’.
Politicians and industry chiefs pledged to work alongside the newly-formed Offshore Co-ordinating Group (OCG) in its crusade to protect North Sea jobs. Energy Minister Fergus Ewing said was “absolutely imperative” for the Scottish Government to listen to trade unions. Mr Ewing said: “Just this morning, I was agreeing with Grahame Smith that one way the industry can increase efficiency is by listening very carefully to the workforce offshore.
2015 has been a difficult year for the UK oil and gas industry. After 50 years of exploration and production, the UK Continental Shelf (UKCS) is at a crossroads. While recent record investment and efficiency improvements are yielding the first rise in oil and gas production for over 15 years, our future is less certain.
The search is on for proposals that can make a big impact in cutting costs and increasing efficiency in the oil and gas sector.
Four new guides have been added to an information ‘toolkit’ to help offshore oil and gas operators implement their response should there be an oil spill in the North Sea.
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.
Leading figures from the industry and the Oil and Gas Authority (OGA), will join Oil & Gas UK at its forthcoming Breakfast Briefing, on the progress in UK Continental Shelf (UKCS) exploration and production on December 8.
Oil & Gas UK’s Business Sentiment Index posted its fifth straight negative recording amid heightened market pressures.
Renowned broadcaster James Naughtie will host the 2015 Oil & Gas UK Awards next week, the industry body has confirmed.
Industry trade body Oil and Gas UK has published the second issue of its guidelines on the qualification of materials for the abandonment of wells.
Oil & Gas UK chief executive Deirdre Michie said the industry has turned its first corner in the market downturn and called on the emerging innovators to continue to persevere.
Last month, Oil & Gas UK held its Annual Conference – with the aim of bringing the industry together, to recognise the challenges that face us and to focus on the way ahead.