Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Folder An icon of a paper folder. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. Linked In An icon of the Linked In logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. WhatsApp An icon of the WhatsApp logo.

Treasury

Oil & Gas

Kemp says low oil price will lead to ‘greater emphasis’ on cost reduction but will curtail new investment

Leading oil and gas economist Professor Alex Kemp said a continued low oil price could lead to a "greater emphasis" on cost reduction, but was also likely to curtail investment in new fields and exploration. Prof Kemp made the analysis after Asco chief executive Alan Brown exclusively told Energy Voice he thought a continued oil price of $50 a barrel could be a "very good" thing for the North Sea. Brown said it would force greater collaboration between the operators and supply chain as companies were forced to work more closely together.

Oil & Gas

Oil hub will be at top ‘for decades’

First Minister Nicola Sturgeon believes Aberdeen can remain Europe’s energy capital for the next half century – with the right support from the Treasury. The SNP leader will bring her Cabinet to Aberdeen today, and make fresh calls for UK Government support for the vital offshore sector. She and her ministers will be involved in 22 visits and meetings with local companies, organisations and ordinary members of the public across the city. The First Minister said she wanted to “harness the energy we saw during the referendum campaign on both sides of the debate” and use it to tackle day-to-day issues in communities across Scotland.

Oil & Gas

Consultation launched for North Sea investment allowance

The UK Treasury has moved the launch of an investment allowance consultation forward after calls were made by the oil and gas industry. The Chief Secretary to the Treasury and Danny Alexander and the Exchequer Secretary made the announcement following a meeting in Edinburgh. The allowance, which was first announced in the Autumn Statement, is a single, basin-wide capital expenditure linked investment allowance.

Opinion

Opinion: It’s time for radical actions

I’ve been told that scores of companies in and around Aberdeen are now letting go of people as the oil price-driven depression deepens in high cost oil & gas provinces around the globe. The likelihood is that several thousand jobs in our area have either gone or are about to be axed. Remember, it’s not just the UKCS that’s being hammered.