Unions call for government investment and respect for offshore workers
A trade union alliance representing oil and gas workers has renewed calls for government investment in North Sea infrastructure.
budget
EV Guest Editor: Derek Leith – This is not the oil and gas budget
The Budget on March 8, follows hot on the heels of the Autumn Statement on November 23. It is also the first of two Budgets we can expect this year as the UK transitions to an autumn rather than spring budget timetable. Usually it’s only election years during which two Budgets are delivered, but this year is an exception.
Calls for Budget to safeguard North Sea’s future
Aberdeen South MP Callum McCaig has called on the chancellor to show that all industries have his "full confidence" in this week's Budget.
Chancellor signals cautious approach to spending in budget
Chancellor Philip Hammond has signalled he will take a cautious approach to spending in Wednesday’s Budget.
Exclusive: Theresa May hails north-east oil sector, tight-lipped on Budget support
Theresa May hailed the north-east's "world class” oil and gas sector last night as she pledged her support to ensuring its continued competitiveness on the international stage.
Opinion: Callum McCaig – the weight of the North Sea is on Chancellor ahead of budget
Each time a report or study is published on maximising the UKCS potential and securing a stronger, higher oil price in the future we see one glaring similarity: the importance of increased productivity.
Scottish Government appeals for more oil industry Budget support
Scotland's energy minister Paul Wheelhouse has appealed to the chancellor to provide more support for the oil and has industry in his forthcoming Budget.
ConocoPhillips to reduce capital budget by 4%
ConocoPhillips said it will reduce its capital budget by 4% to $5billion next year as it looks to cut costs.
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.
Budget 2016: OBR figures predict revenues from oil and gas to be negative for next five years
Revenues from UK oil and gas are expected to be negative for the next five years, according to the Office for Budget Responsibility’s forecast.
Budget 2016: Statoil says measures “positive signal” for the UKCS
Norwegian operator Statoil said the measures implemented yesterday by the UK Government were a "positive signal" for the UKCS.
FTSE 100 rallies after cautious welcome to Budget
The London market was on the front foot as traders reacted to Chancellor George Osborne’s eighth Budget with a cautious welcome.
Opinion:UKCS doesn’t need hand-outs, it needs a tough-minded business approach
Several years ago I spent time in Australia. Visiting a North Queensland mining community I fell into conversation with an engineer who said something to the effect that one of the biggest problems for the industry Australia-wide was the inability to fight ballooning costs and wage inflation. His further comment was even harder hitting. There were just too many people on the payroll, and too many people very well paid to perform slight-to-unimportant tasks.
Opinion: Budget was ‘hodgepodge’ of measures
The Budget this week was a hodgepodge of measures for the economy with some moves being made to help the oil and gas industry, however, yet again prime opportunities have been missed by the Chancellor to make a more substantial positive impact on the sector.
Budget 2016: SNP brands oil and gas measures “missed opportunity”
The SNP branded George Osborne’s Budget a “missed opportunity” last night and accused him of “lacking the vision” to bring forward a long-term strategy for the North Sea.
Budget 2016: “Shot in the arm” for North Sea oil and gas industry
Chancellor George Osborne delivered a £1billion “shot in the arm” to the struggling North Sea yesterday.
Osborne’s 2016 Budget: Winners and losers
WINNERS:
Budget 2016: Aberdeen MP calls tax measures ‘mixed bag’
A raft of new measures brought in to support the North Sea oil and gas industry have been described as a "mixed bag" by an Aberdeen politician.
Budget 2016 Video: EY’s Derek Leith reacts to North Sea measures
EY's head of oil and gas taxation gives his quick round-up of the changes made by the UK Government to support the North Sea oil and gas industry.
Budget 2016: Oil majors react to raft of North Sea oil and gas measures
Oil major's BP and Shell have backed the changes implemented by the UK Government to help support the North Sea oil and gas industry amid the global decline in oil price.
Budget 2016: Tax reductions will “significantly” help North Sea
The changes made by Chancellor George Osborne in today's budget will "significantly" help the UK oil and gas industry, according to a leading legal expert.
Budget 2016: Shell VP says changes step in “right direction”
Oil major Shell's vice president from Upstream in the UK & Ireland said changes brought in by the government are a "step in the right direction" to help the North Sea oil and gas industry.
Budget 2016 Live
Energy Voice will bring you budget news as it happens. Check back later today for all of the industry reaction and tomorrow for in-depth analysis.
Budget 2016 Guest Editor: C’mon Osborne we need….
In yesterday’s article I set out the backdrop of a collapsing commodity price, high cost base, and tightening debt and equity markets for the oil and gas sector as the context of calls for fiscal change in the Budget tomorrow – today I explain the need for a low, simple and transparent tax rate.
Budget 2016: Osborne could put an end to freelancer tax loophole
New measures to plug a tax loophole widely exploited in the public sector to disguise employees as freelancers could be used to tackle similar practice in the oil and gas industry.