EY warns of Aberdeen labour market contraction
New figures from EY suggest the Aberdeen labour market will contract slightly every year between now and 2024, while employment in Inverness will grow by 0.3% annually.
EY
The North Sea is selling but who is buying? Look outside sector
In a year when the UK will come under intense global scrutiny of its climate change policies, merger and acquisition activity in the basin will have energy transition as a new factor to contend with.
EY review: Oil and gas deal values take dive
Global oil and gas overall deal volume and deal value was down 17.7% and 10.8% respectively in 2019, as stagnant commodity prices, disappointing results and low returns left the industry searching for capital.
‘Hard decisions’ coming for firms too reliant on North Sea oil, OGUK boss warns
“Hard decisions” are going to have to be made by firms that are too reliant on North Sea oil, according to a director at Oil and Gas UK (OGUK).
Oilfield service sector margins ‘stubbornly depressed’, EY report says
A report out today from EY says “green shoots” of recovery in the UK oilfield services (OFS) sector are struggling to flourish.
Subsea activity is continuing to fall
In our EY ninth annual review of the UK oilfield services (OFS) industry to be published this month, based on the latest data, unlike other subsectors that have seen a modest return to growth, we have seen a continued decrease in subsea activity.
Marischal Square defies critics at 75% occupancy
The multiaward-winning Marischal Square developmentin Aberdeen is 75% let just over two years after construction work ended for the £107 million project.
Property firm’s key role in third of all office deals
Bosses at commercial property consultancy FG Burnett have toasted a successful year, with the firm at the heart of a third of all office deals in Aberdeen during 2019.
Is better collaboration the new force for change in oil and gas?
Current market conditions are making oil and gas operators understandably cautious about embarking on mega projects. When they do invest, shorter term payback options such as brownfield developments are generally favoured over longer-term, large-budget greenfield projects.
KPMG to move 140 staff to Aberdeen’s Marischal Square development
Another “Big Four” global accountancy giant has chosen Marischal Square as the new home for its Aberdeen office.
Low-carbon road paved with opportunities and challenges, EY says
Few would doubt that the transition to low carbon provides the renewables industry with a massive opportunity.
UK climbs world rankings for green energy attractiveness, EY says
The UK is now the seventh most attractive destination globally for investment in renewable energy, a new report said.
OECD’s revolutionary tax changes could impact oil firms
The OECD’s 2019 workplan on addressing the tax challenges of the digitalised economy looks set to be a major overhaul of the international taxation system.
Busting the decommissioning tax myths
Decommissioning remains a big consideration for any investor in the UKCS and, indeed, anyone divesting their interests. This is especially the case where the interests in licences which are changing hands are mature assets with a significant number of wells and attendant infrastructure.
Aberdeen infrastructure investment pipeline takes £1.7bn leap
The total sum of cash earmarked for infrastructure projects in and around Aberdeen between now and 2030 has rocketed by £1.7 billion to more than £10bn during the past year, new figures show.
Senior economist to help Aberdeen firms navigate Brexit
A senior economist at one of the world’s biggest professional services firms will visit Aberdeen next week to help north-east firms navigate Brexit.
EY relocating its 170 staff to prestige Aberdeen office scheme
One of the world’s “Big Four” professional services firms is to move its Aberdeen business from the west end into prestigious new offices in the heart of the city.
Decommissioning ‘implies getting rid of rubbish’ – time for a new brand?
Industry leaders discussed the potential need for a “new brand” for decommissioning at Offshore Europe yesterday as it “implies you’re getting rid of rubbish”.
Good branding is vital for future of decommissioning
Decommissioning is a topic which gets a reasonable amount of press coverage.
UK supply chain: Going the distance?
May 2019 marked the 50th anniversary of the Offshore Technology Conference (OTC) in Houston. While attendance figures may not be as high as in previous years, the event still provides a useful barometer for sentiment and activity across the oilfield service (OFS) industry.
Foreign investment in Scottish projects falls, EY report says
The number of projects involving foreign firms investing in Scotland fell by almost one-fifth last year, a new report has revealed.
Richard Irvin announces new offices five months after going into administration
An facilities management firm which crashed into administration five months ago has announced plans for new offices in Aberdeen and Stirling.
UK 8th ‘most attractive’ location for renewable energy development, EY says
The UK is the 8th most attractive location for new renewable energy development, a new report said.
The contrasting private equity approach to North Sea assets and services
After a period of relative quiet, North Sea oil and gas is increasingly in the private equity spotlight, amid renewed confidence that has spurred an appetite for deal making.
Oil firms must protect entrepreneurial flair when buying low carbon start-ups
Oil companies are increasingly investing in low-carbon technologies that have the potential to disrupt their core and end-markets.