Oil firm EnQuest said that about 80 employees would lose their jobs at a major terminal in Shetland by the end of 2019.
Sectors such as renewable energy, shellfish, finish and seaweed farming have shown interest in using Sullom Voe harbour in Shetland.
German U-boats, a Victoria Cross winner and life-saving pigeons were all part of Scatsta and Sullom Voe’s story, long before they served the oil and gas industry.
EnQuest has completed the first ship-to-ship transfer of crude oil at Shetland’s Sullom Voe terminal for three years.
Oil firm EnQuest said today that it would exercise an option to buy the remaining 75% interest in the Magnus field from BP for £230 million.
The shutdown of oil pipelines at the Sullom Voe terminal in Shetland will only be a “mild irritant” to operators, according to a leading petro-economist.
Two major pipelines connecting North Sea fields to the Sullom Voe Terminal on Shetland have been shut down after a “minor fault” was discovered.
EnQuest became the operator of another North Sea field and a major oil terminal today.
It was the end of an era yesterday afternoon when the final accommodation barge used to house oil and construction workers left Lerwick.
EnQuest made a marginal profit last year after streamlining its operations by reducing overheads and increasing production.
Oil major BP has hired consultancy firm Turner & Townsend to provide quantity surveying and cost management services at its Sullom Voe Terminal (SVT) in Shetland and the Forties Pipeline System.
BP has axed a £500million project which would have created hundreds of jobs and delivered a significant economic boost for Shetland.
Oil major BP has put plans to build a £500million gas processing plant at Sullom Voe on hold.
Shetland Gas Plant operators Total have promised to stem the flow of black smoke pouring out of their recently-commissioned flare stack at Sullom Voe.
Oil tanker berthings at the Sullom Voe oil terminal in Shetland have been suspended until at least the early hours of tomorrow morning because of high winds, port authority and trade sources said today.
A £100 million deal between an engineering and services firm and BP at two of its Scottish oil and gas terminals will secure 240 jobs.
Shetland Islands Council faces a £5.5million chop to its budget next year after BP decided to ship oil to the lower-cost Port of Rotterdam rather than the Sullom Voe Terminal.
Talks are being held with Wood Group and Bilfinger Industrial Services staff working at the Sullom Voe Terminal in Shetland over the future of up to more than 200 positions. Wood Group is in discussions regarding around 90 positions at the BP-operated terminal following a review of its personnel requirements brought on by changes being made to work on the site. Meanwhile Bilfinger Industrial Services said it had also initiated consultation due to changes in seasonal workloads and winter working conditions.
Oil major BP has postponed construction of its £500million gas sweetening plant for up to five months. The company said the decision was triggered by the low oil price over the past six months. Earlier this year the company announced job losses from its North Sea operations as it looks to streamline its operations.