Cresswell: Methinks the Treasury only half listened
UPDATED 0950 MARCH 15
UPDATED 0950 MARCH 15
This week I delivered a Budget for the next generation.
Pilot error led to a fatal helicopter crash off Shetland that killed four people, the Air Accidents Investigation Branch said today.
The Air Accidents Investigation Branch today said pilot error was responsible for a fatal offshore helicopter crash, which left four people dead.
The North East is currently in a very bad way – there’s simply no getting away from the shocking and sudden decline of this most oil-rich of regional economies.
Scotland’s oil and gas industry has generated well over £300billion for Treasury coffers and it employs more than 375,000 people from across the UK. It is an important industry for the north-east of Scotland and the national economy, and one that has benefited UK government expenditure for very many years.
We have all become accustomed to the chants of the industry about how more has to be done to ensure sustainable economics and thus the longevity of the basin. To date much of the call has been on the government or related bodies to reduce taxation and provide support for the sector in this low commodity price and high cost era.
Collaboration: what does it mean to you?
The emergence of unconventional gas over the past few years has transformed the global energy market. Breakthrough technology has enabled key producers, especially in the US to supply the global market with shale gas, reshaping the energy landscape in its wake. Since this revolutionary technology was brought to market, companies have looked to deploy it in many markets as part of a global shift to a low carbon, energy secure future.
A second meeting has been pencilled in by the kingdom, Russia, Venezuela, Qatar and an unspecified group of oil producers (OPEC and non-OPEC) to talk again about the proposed output freeze, according to Nigerian petroleum minister Emmanuel Kachikwu. But no-one should read this as a sudden outbreak of altruism in Riyadh.
The Japanese solar market has grown significantly in the past few years as it races to meet the government’s goal of achieving 53 GW of solar PV capacity by 2030.
With oil prices at historic lows, the impact on Gulf economies will be significant. Karim Nassif, Associate Director at Standard & Poor’s, argues that financing will have to adapt to meet the demand for infrastructure – and that renewable energy stands to benefit.
Many school leavers in Scotland are being put off joining apprenticeship programmes due to widespread misconceptions about pay and qualifications, a study suggests.
Where do efficiency savings and productivity gains come from when the obvious wastage is eliminated? When the headcount requires no more than a couple hands and a foot? That’s the question facing many of us now as the black expanse of $30 oil spreads out before us.
For decades it has been the powerhouse of not just the north-east economy, but the UK's as well.
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If not the oil and gas industry, then what?
With its core industries of jute, jam and journalism, Dundee was one of the most globalized cities in the world in the early 20th century.
Should businesses in the north of Scotland look to the Tees Valley area in England for some guidance on how to triumph over adversity and diversify the economy?
The UKCS is entering a phase of ‘super maturity’.
The nickname Motown describes two distinct aspects of the US city of Detroit. One was the name of the famous record label which spawned a conveyor belt of pop classics from the likes of Stevie Wonder, Marvin Gaye and Michael Jackson.
That the UK offshore oil and gas industry is fighting for its future is surely no over-statement.
The past month has been an interesting one.
We all know the tough times facing the north-east. The continuing slump in the oil price is presenting this area with perhaps its biggest challenge since drilling began 40 years ago. The truth is that we are at a crossroads, and I think it can now go one of two ways.
None of the 13 members of OPEC want the oil price to continue at its current level for longer than is necessary. For some OPEC members, the situation is becoming critical. Even Saudi Arabia, whose lifting costs are well below the current price, is running a budget deficit and taking action to reduce the rate at which it is using up its foreign currency reserves.