Oil major Chevron has been paid $112million by Ecuador over a contract dispute lasting more than four decades.
Sir Ian Wood
Industry leader Sir Ian Wood said there still needed to be an “urgent focus” to support the oil and gas sector after a North Sea oil summit was held in Aberdeen.
Industry leader Sir Ian Wood has urged for businesses to "remain calm" after the UK voted by a narrow margin to leave the European Union.
Industry leader Sir Ian Wood said a "disruptive mindset" was needed by the oil and gas sector to inspire better collaboration amongst operators and the supply chain.
Sir Ian Wood has called for the entire industry to get behind the fledgling Oil and Gas Technology Centre (OGTC) project he is heading.
The worst of the oil price rollercoaster is over, according to industry leader Sir Ian Wood.
The search for a chief executive officer for Aberdeen’s proposed £180million Oil and Gas Technology Centre (OGTC) is under way, the body behind the project said today.
Ineos boss Jim Ratcliffe is the UK's richest energy services mogul on the Forbes 2016 billionaires list with his $5.5billion fortune.
Opportunity North East (ONE) will work with oil and gas industry leaders to establish Aberdeen as a global centre for offshore technology and development.
Wood Group has honoured its founder by naming its new office at the south of the city after him.
Around 100 jobs are expected to go at Aberdeen's Robert Gordon University as it tries to cut operating costs by £6 million.
Oil industry veteran Sir Ian Wood has said it is completely wrong to think that the North Sea oil industry is finished and gave a guarantee that it will return to strong activity within the next five years.
Offshore industry doyen Sir Ian Wood said last night that the north-east should “be hopeful but patient” in waiting for changes following the city deal signing yesterday. Sir Ian, who founded private sector economic development organisation Opportunity North East (ONE) in December, warned changes would not happen overnight but that this was “the beginning”. ONE has an initial funding commitment of £25million from The Wood Family Trust.
North Sea industry leader Sir Ian Wood said the city region deal announced by the UK Government will help Aberdeen to transition from an operational base to an "international centre" for innovation.
The trade body for the North Sea oil and gas sector has called for the industry to back the tenets of a new charter that outlines collaborative behaviours to achieve “transformational change”.
Sir Ian Wood said his generation of oil peers were the “lucky ones” and have a duty to pay it forward.
Leaders in business, education and the public sector have teamed up to secure the north-east’s post-oil future, backed by a £50million funding pot.
Sir Ian Wood warned yesterday that the north-east faces becoming a “museum” if the region fails to secure funding from the £3billion Aberdeen City Region Deal.
Energy Voice brought together an expert panel and an informed audience for Energy 2050 - Securing Our Future, offering a unique insight into where the oil and gas industry is headed in coming years.
Sir Ian Wood is to lead a major new taskforce being set up to safeguard the future of the north-east economy and land a multibillion-pound City Deal for the region. The offshore industry doyen has accepted an invitation to head up the area’s new “Economic Leadership Board”. It will drive forward the north-east’s bid to secure a £2.9billion City Deal package from the UK and Scottish governments – and lead efforts to anchor oil and gas sector skills in the region for decades to come. The new board will succeed Aberdeen City and Shire Economic Future (Acsef), and will also feature other leading figures from the oil and gas, food and drink, life sciences and tourism industries, as well as representatives from the local authorities and the universities.
Sir Ian Wood said there had been a step change in focus by the North Sea oil and gas industry in how to persevere through the current downturn. Speaking to Energy Voice following its Energy 2050 – Securing Our Future event at the Tivoli in Aberdeen he said it was clear the industry was “now prepared to give proper though about how it solves its problems”. He was one of a panel of experts who discussed the findings of a survey of 450 sector leaders, which was commissioned by Energy Voice.
There is no 'magic wand' for the industry.
Sir Ian Wood said last night that the North Sea was facing one of its “toughest times ever" – but insisted it was “not dead by any means". The industry doyen warned that the “worst thing" offshore firms could do was lose talented younger people and vital infrastructure during the current downturn. He called for further UK Government action, including for the Treasury, the Oil and Gas Authority (OGA) and the industry to “get their heads together very quickly" to find solutions. Sir Ian was speaking to more than 300 people at a summit organised by The Press and Journal's sister website Energy Voice at Aberdeen's Tivoli Theatre last night.
British war-time comedian Tommy Trinder is widely credited with coining the phrase – “over-fed, over-paid, over-sexed and over here” when referring to American GIs during World War Two.
Energy Voice has launched an event aimed at ensuring the next generation of industry innovators don’t get lost in translation amid a market downturn. Industry giant Sir Ian Wood, Offshore Europe co-chairman Michael Engell-Jensen and Derek Leith, office managing partner at EY Aberdeen and the firm’s UK head of oil and gas taxation, will all take part in the panel. The event, which will be held at the Tivoli on Wednesday September 2, will discuss the final wave of Energy Voice’s research: Energy 2050 – Securing our Future.