Treasury documents released last week could spell good news for North Sea decommissioning and CCUS investment, but tax uncertainty remains.
Professor Alex Kemp
Researchers at Aberdeen University have published in-depth analysis of divergent tax rates on UK oil and gas spending.
CNR International has decided to shut down Ninian, one of the greatest oilfields in the North Sea, due to “challenging” UK market conditions.
Scottish Government plans to accelerate the decline of the oil and gas industry have been questioned by a top petroleum economist.
The year 2022 will go down as one of the most turbulent in the history of the UK Continental Shelf (UKCS).
European oil and gas shortages could be on course to worsen next year when sanctions against Russia properly manifest themselves.
Top academic warns Scot Gov against using forward oil prices to calculate proposed £20bn investment fund
A leading petroeconomist has cautioned the Scottish Government against relying on forward oil prices when forecasting its future spend.
As the energy price cap surges, a leading petroeconomist has painted a gloomy picture as the UK faces up to the prospect of winter without adequate energy supplies.
Just as thing seemed to be looking up for the sector, decommissioning could be pushed to the back of the queue once again.
As industry grapples with the newly-imposed windfall tax, questions linger on the government's view of a so-called "normal" price for oil and gas.
Analysts have been reacting after oil topped $100 a barrel for the first time in years following Russia's invasion of Ukraine.
The recent spectacular increase in the UK wholesale natural gas price from less than 50 pence per therm in April 2021 to a peak of nearly 300 pence in October came as a complete surprise to everyone, including market traders engaged daily in buying and selling the commodity.
Shell pulling out of the west of Shetland Cambo project may boil down to the cost of stricter environmental legislation and a reduced appetite for investment, an oil and gas industry expert said today (December 3).
Record high gas prices could be a permanent fixture in the coming months until supply is able to catch up with global demand, experts have warned.
Shell’s Jackdaw project has been dealt a blow after the UK regulator declined to approve its field development plans.
Brent oil has been tipped to continue its upward trajectory after the crude benchmark hit its highest level in around three years.
As the UK finds itself in the midst of a gas crisis, stark figures have shown that North Sea production could be on course to wrap up by the end of the decade.
Most UK adults want government spending on North Sea oil and gas redirected to renewables, according to a new campaigner survey.
The Brent oil price has reached its highest in 13 months, but experts say questions persist on whether activity in the UK North Sea will see a similar resurgence.
North Sea operators would like “more evidence” that the $50 Brent oil price is here to stay before greenlighting long-term investments.
The UK Government’s upcoming energy white paper should give “serious consideration” to a proposed £100m decommissioning loan fund, according to a petroleum economist.
Brent Crude’s rebound yesterday brought it up beyond $30, but the figure is still too low to make an impact for the UK North Sea.
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.
The North Sea oil industry has been in transition for some years following the collapse of oil prices in late 2014. Large cost reductions have been painfully achieved. Production has increased due to a combination of new fields coming on stream plus a substantial increase in production efficiency to around 75%. But new field investment expenditure has fallen dramatically since 2015 and exploration remains at a relatively low level reflecting principally the maturity of the province as well as oil and gas prices far below their pre-2015 levels.
It was the beginning of an exciting week when Greenpeace announced they had sent activists to the middle of the North Sea to climb the remains of Shell’s Brent platforms, brandishing signs of “clean up your mess”.