Ambitious plans for a new Energy Hub have been unveiled with hopes for hundreds of jobs and to make giant oil and gas fields in the West of Shetland "net zero by 2030”.
Oil and gas operators are “much more likely” to break contracts, change suppliers or alter prices than service firms in response to the downturn, according to a new study.
Chrysaor, the North Sea's largest net producer, has cut spending plans by 30% in response to the Covid-19 pandemic, bringing delays to growth projects.
Oil was poised to resume a run of weekly gains on signs consumption is picking up as economies emerge from lockdowns, despite many countries still struggling to bring the coronavirus under control.
More than 4,500 “heartbreaking” North Sea job losses have already taken place in the wake of the Covid-19 outbreak and oil price rout, it is understood.
Widespread decommissioning deferrals could lead to a “wave of idle iron” in the UK and globally as companies rush to preserve cash and potentially shut down uneconomic oil platforms, according to new analysis.
Energy services firms Wood and Global Energy Group have praised a new £62m Scottish Government package, saying it will “build momentum” towards a "true energy transition".
Engineering service firm Babcock International slumped into the red in 2019-20 after suffering hefty impairments largely pinned on the “deteriorating” oil and gas market.
Workers have expressed “disgust” after industrial services giant Bilfinger announced 180 job cuts in Aberdeen and offshore, just hours after touting contract wins worth £350million.
Weatherford International’s chief executive has resigned just days before the struggling oil-field services company’s annual meeting and amid a debt crisis that could lead to a second bankruptcy filing in less than a year.
It has long intrigued me that, throughout the Second World War, the ground was being laid for the work of the North of Scotland Hydro Electric Board. Even in the darkest days of battle, people and politics were looking to a better future.
The Scottish Fiscal Commission has warned that the economic impact of the outbreak could be more severe in Scotland than the rest of the UK due to the predominance of the tourism and oil and gas industries.
Not many days ago, a Scottish MSP said the Holyrood government ought to revive an initiative originally set up in 2015 to protect and sustain oil and gas jobs at a time of crisis.