80 jobs saved as Altrad agrees to furlough Grangemouth workers
Around 80 jobs have been saved at Altrad Services after union pressure saw the firm reinstate workers under the government’s furlough scheme.
oil and gas
Turning crisis into opportunity
The deep and fundamental impact Covid-19 is having on the global economy is unprecedented, however, the shared global conviction to recover will be fast, and we expect that businesses which can pick up where they left off when things are safe will do so quickly.
Kellas defeats £37m legal challenge on major North Sea pipeline system
An Aberdeen-headquartered company has successfully dismissed a £37m legal challenge around a major North Sea pipeline system.
HSE uncovers risks of explosion, electrocution and exposure to welding fumes at Aberdeen drilling firm
Health inspectors have shut down certain works at an Aberdeen drilling equipment firm after uncovering a series of dangers to workers.
UK regime sees Shell pay no taxes on North Sea business in 2019
Energy giant Shell paid no taxes on its upstream oil and gas business to the UK government last year, instead receiving large rebates, according to a new report.
Employee safety ‘paramount’ after TechnipFMC confirms virus cases on North Sea vessel
TechnipFMC has said employee safety is of “paramount importance” after confirming a virus outbreak on board one of its North Sea vessels.
Halliburton to ‘significantly reduce workforce’ says CEO
Oilfield services giant Halliburton will “significantly reduce” its workforce in the coming weeks, according to chief executive Jeff Miller.
Fugro announces ‘painful’ job cuts but ‘too soon to say’ for UK workforce
Dutch marine services firm Fugro has announced it is taking a series of “painful measures” in response to the Covid-19 outbreak, including job cuts.
North Sea fields facing swifter end to production due to oil price drop
A number of North Sea oil fields will be facing a swifter end to their economic life due to the recent oil price drop, according to a leading petroleum economist.
Extremely challenging conditions for North Sea emphasises the need for sector deal, says EY
The “extremely challenging” conditions presented to the North Sea industry “emphasises the need” for the government’s promised oil and gas sector deal, according to EY.
Oil and Gas: Holding your nerve?
Investing in capital markets is, speculators aside, a long- term play. When times are good investors can relax and take pleasure in their investment prowess; when times are bad investors need to remind themselves, they are in for the long term, and play to the fundamentals.
Curlew project ‘huge success’ for Dundee despite being halted, says decommissioning boss
Dundee will become the go-to hub for decommissioning work in the UK according to the man who has spearheaded the city’s move into the sector.
Several BP Gulf of Mexico workers test positive for coronavirus
BP is adjusting the company's offshore procedures after several workers who had previously been aboard a production platform in the Gulf of Mexico tested positive for the coronavirus.
Wood says ‘employee reductions are being made’ in response to coronavirus
Aberdeen-headquartered energy services firm Wood has said “employee reductions are being made” in order to tackle the effect of the coronavirus outbreak.
COP26 climate summit in Glasgow postponed over coronavirus
A key climate summit in Glasgow has been postponed until next year due to the coronavirus outbreak.
Covid-19 crisis a ‘moment to reassess’ for smaller North Sea firms overlooking energy transition, top analyst says
The uncertainty surrounding the coronavirus pandemic could be a “moment to reassess” for many smaller North Sea oil and gas firms overlooking the energy transition, a top energy analyst has said.
Bilfinger UK decides to offer coronavirus furlough scheme days after cutting jobs without support
Bilfinger UK has said it will offer the option for the government’s coronavirus furlough scheme, days after terminating onshore workers without support.
Aker Solutions anticipates revenue hit due to ‘considerably’ reduced activity
Offshore engineering firm Aker Solutions expects revenues to decline thanks to "considerably" reduced activity from operations due to the Covid-19 pandemic fallout.
BP announces 25% spending cut in response to coronavirus
Energy giant BP has announced a 25% cut in spending in response to the coronavirus outbreak.
Decommissioning plan for EnQuest Producer FPSO gets green light
The UK Government has approved a plan to decommission a North Sea development less than five years after first oil.
Subsea 7 facing ‘significant headwinds’ and withdraws 2020 guidance
Subsea 7 has warned of “significant headwinds” from the dual impact of the coronavirus and plummet in oil price.
Petrol stations ‘will have to close due to impact of Covid-19’
Many petrol stations will be forced to close due to a lack of sales and their businesses becoming unprofitable, a trade association has warned.
BP CEO promises staff jobs are safe for at least three months
BP has promised its employees their jobs are safe over the next three months, while the oil major considers ways to cut costs with crude prices plunging.
‘Virtual’ remembrance service to be held for anniversary of 2009 Super Puma crash
A “virtual” remembrance service will be held tomorrow to mark 11 years since a fatal helicopter crash near Peterhead.
World oil output may fall by 10million barrels a day, IHS Says
IHS Markit expects as much as 10 million barrels a day of world oil production to be cut or shut-in from April through June as storage fills up and demand craters due to the Covid-19 pandemic.