Opinion: Critical to tackle the collapse in investment


Oil and gas companies have made significant in-roads into reducing the cost of production, but this is in the context of some of the highest operating costs in the world. With the oil price falling from the highs of above $100 a barrel in the summer of 2014, those cuts alone cannot go far enough and real fiscal stimulus is needed to drive renewed investment.


Opinion: There is still plenty to play for


As an industry we are going through a tough time – and all indications are pointing towards it staying that way. With the value of our product having plummeted to just over $30 a barrel and respected commentators suggesting it’s going to be lower for longer than we might hope, the fear is that it may get worse before it gets better as globally some $400 billion has been cut from E&P budgets.

Oil & Gas

Corbyn “open-minded” on tax relief for North Sea


Labour Leader Jeremy Corbyn has said he is “open-minded” on the issue of tax relief for the North Sea sector. He told Energy Voice's sister publication the Press and Journal yesterday he had not made a decision, adding: “I need to look at that.

Oil & Gas

Norway should give incentives for tail-end oil production


Norway should give companies fiscal incentives to continue production from maturing oilfields in the North Sea as investment falls, Exxon Mobil XOM.N Production Vice President John Chaplin said on Wednesday. Unlike many other oil and gas producers, Norway, Western Europe's top oil producer, hands out licences for free and subsidises exploration and development costs, before imposing a 78 percent tax on production.

Oil & Gas

Irish Government could increase maximum tax on oil and gas fields


The Irish Government has revealed new draft laws which could see an increase in the maximum tax on oil and gas fields in the country from 40% to 55%. The reports in the Irish Time said a new petroleum production tax could be cast to ensure that discoveries made under future exploration licences will lead to an increased financial return for the State. The measure has been set out among other new steps in the Finance Bill.