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Insights

Opinion

Opinion: We will do all we can to support North Sea workers

As 2015 draws to a close, we are on track to see the first annual rise in oil production for 15 years. This fact may seem strange to those who have only considered the sustained low oil price that has dominated the headlines in 2015, but it is a positive sign from an important industry that is adapting to a changed landscape. DECC statistics show that production of petroleum is 32% higher and natural gas production is 8.6% higher in the three months June to August 2015, compared to the same period in the previous year.

Opinion

Powering the North Sea: protecting profit margins

Whilst the recent oil and gas decline is having a considerable impact on the local and national economy with employment and business confidence levels in particular taking a hit, this slump is also having detrimental consequences to the industry’s finances.

Opinion

Opinion: The North Sea in 2015 is blowin’ in the wind

At the start of 2015, the North Sea oil and gas sector was staring into the eye of a perfect storm - a slump in oil prices, the cancellation of new projects, high costs of production, an unfavourable tax regime and a regulator that was not in place to maximise economic recovery. And as we approach the end of the year, the cold wind of low oil prices continues to batter the industry.

Opinion

Opinion: Every CEO must have resolutions for 2016 – how to make more from less

Resilience was the word of 2015 amongst the oil and gas sector. It’s been hard to stay positive, stay focused and to consider growing the business when it’s felt for many like a daily battle of challenges and stresses. So how as leaders do we work to continue to grow our businesses when everything around us seems so problematic.