The decline in oil prices could have a substantial adverse effect on the oil and gas industry in the UKCS (UK continental shelf) a leading industry expert has warned.
Research by Professor Alex Kemp and Linda Stephen from the Aberdeen University has found that if the current drop in price continues, there will be reduced investment and production.
Using economic modelling, the pair highlighted two scenarios which reflect investment screening prices.
Maven Capital Partners has sold its stake in an Aberdeen firm it backed in a £10million deal five years ago.
A group of private investors has bought out Maven's stake in oil and gas control systems firm, EFC Group.
The sum was undisclosed but Maven said it generated a 3.8x multiple return for its client funds on the deal.
Fletcher Shipping has added a new platform supply vessel (PSV) to its fleet.
The FS Cygnus was named by Karen Fletcher at Flekkefjord in Norway.
It is the first new build for the Fletcher fleet and is one of two sister ships being built by Norwegian shipyard Simek.
A report by Aberdeen & Grampian Chamber of Commerce has found confidence within the oil and gas industry is at its lowest in six years.
Uisdean Vass, an oil and gas partner with UK law firm Bond Dickinson, outlines two fiscal packages the government could potentially outline for the Autumn Statement.
Lily Allen gave a surprise performance in Aberdeen at the weekend.
The Somewhere Only We Know star surprised guests at the Stena Drilling Dinner Dance on Friday.
A former mussel farmer has been named apprentice of the year at the 15th anniversary of the UK Upstream Oil and Gas Technician Training Scheme.
Michael Williamson previously completed an apprenticeship in mechanical engineering with Shetland Island Council Ferries.
The 22-year-old, from Whalsay in Shetland, is currently an instrument technician at Edinburgh College and was given his award after demonstrating “outstanding ability and attitude” during his four years on the scheme, which has helped 1,500 people enter the industry already.
Sir Ian Wood wrote an interesting article recently in which he discussed the window of opportunity for Aberdeen to take advantage of its oil capital status in order to make radical improvements to the city centre.
To those of us who are occasional visitors to the city, it has long been an enigma that there is so much wealth in and around Aberdeen yet this is so inconsistently reflected in the face it shows to visitors, at least on first acquaintance.
The next generation of scientists and engineers could be encouraged and nurtured at a new centre in Aberdeen.
Technology company 3M has opened a Customer Engagement Centre (CEC) in Altens which has been created to help develop innovative ideas across the oil and gas sector.
Four top bosses have been sacked by Dana Petroleum in a brutal restructure which has staff fearing for their jobs.
The oil and gas firm confirmed last night that it has “removed” four managing directors, including Paul Griffin, chief of its UK operations.
Netherlands boss Nick Dancer, Egypt boss Paul Barnett and Africa boss John Downie have also gone.
