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PwC

Energy Technology

PwC in virtual reality roll-out

A professional services firm’s virtual reality (VR) “experience” that was piloted in Scotland’s oil and gas sector, among other industries, is to be rolled out to clients across the UK.Showcased as part of PwC’s Oil and Gas Technology Roadshow late last year, the technology is being used to highlight potential “disruptors” and give companies a better idea of workplace organisational planning.

North Sea

Hammond ‘must act’ amid North Sea storm

The Scottish Government has urged Westminster ministers to take “urgent” action to boost the oil and gas industry in the wake of a troubling report into the future of the North Sea.

Events

OGUK 2016: Compromise key for North Sea future, industry expert says

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.

Oil & Gas

Experts lower their expectation for Scottish growth on lower oil price

An ailing oil and gas industry has forced experts to lower their expectations for economic growth across the whole of Scotland during 2015. Brian Ashcroft, emeritus professor of economics at Strathclyde University said yesterday the downturn offshore was stifling onshore service businesses throughout the country. He was speaking after the university’s Fraser of Allander Institute – an economic think-tank – delivered its latest commentary on the state of Scotland’s finances.

Other News

Cyber security attacks costing more than £1.7million, with oil and gas firms at risk

Almost 10% of companies in the UK are unaware they have been victim to cyber security attacks with incidents now costing an average of £1.7million, according to a new report. The annual survey, which involved more than 10,000 executive from more than 127 countries, showed an escalation in the frequency, severity and impact of cyber-attacks. Insiders - either current or former employers - top the list as a major source of incidents. But it was also found firms are becoming more adept at prevention and detection methods with innovation also on the rise.