Politics can shift, but North Sea priorities unchanged, EY tax expert says
The next UK Government will have to “push hard” to make sure mature North Sea assets end up in the right hands, a top tax adviser said.
EY
Best year for foreign investment in north-east as offshore rebounds
A record number of projects backed by foreign investors last year has revealed a change in fortunes for the north east, a new report has found.
Oil price more important than Brexit or Scotref
The price of a barrel of oil is more important to the health and performance of North Sea firms than either Brexit or another Scottish independence referendum, an audience in Aberdeen heard yesterday.
Stay in the know with Energy Voice’s Friday Five
Catch-up on all the week’s top news with Energy Voice’s Friday Five. Scroll through our gallery to see what oil and gas tax specialist and EV’s guest editor Derek Leith chose as his top picks of the week.
EV Guest Editor Derek Leith: Hard work lies ahead to reform North Sea tax relief
It’s fair to say Philip Hammond’s first (and last) Spring Budget as Chancellor followed the same approach as his first (and last) Autumn Statement – no vote-grabbing gimmicks, no rabbits out of the hat, steady as she goes.
Chancellor delivers hope for North Sea
The Chancellor to the Exchequer has delivered hope for late life North Sea assets and the firms who will be tasked with their decommissioning, according to an industry expert.
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.
North Sea risks recovery at ‘bottom end’ of estimates
The North Sea industry is currently on track to recover only the “bottom end” of its remaining oil and gas reserves despite making some progress on improving its methods of operating.
EY ‘cautiously optimistic’ for UK oilfield service sector
A combination of more stable oil prices and signs of new investment have provided grounds for “cautious optimism” for the UK oilfield service sector, according to analysis published by EY today.
Aberdeen still set to face thousands of job losses
Aberdeen is set to face thousands more job losses in the coming years while Inverness is on track for employment growth, a new report has found.
EY Guest Editor: Chancellor to keep close eye on state of North Sea industry
As the dust settles on Philip Hammond’s first (and last!) Autumn Statement, it is worth taking stock of the impact of the announcement on the oil and gas sector.
EY Guest Editor Video: Derek Leith gives his view on the Autumn Statement
EY’s head of oil and gas taxation gives his quick round-up of this year's Autumn Statement.
EY to take over from Deloitte as Premier Oil auditors
Premier Oil has completed a tender process selecting Ernst & Young as its new auditor from next year.
BP picks new auditor in Deloitte
BP will ask its shareholders to approve the appointment of Deloitte as the company’s auditor for the financial year 2018 at its AGM.
UK energy policy leaves investors scratching heads
The UK renewable energy sector has continued to lose its appeal in the eyes of investors, dropping to a new all-time low, a new report has revealed.
EY calls for ‘open mind’ on UK shale industry
An open mind is needed on a shale gas industry in the UK, according to an energy partner with EY.
Opinion: Tax breaks alone will not stimulate North Sea activity
Earlier this month, Norway announced it had suffered its first quarterly budget deficit in 20 years.
Granite City’s sparkle dims as foreign investment drops
Aberdeen is losing its appeal for foreign investors amid the oil and gas industry downturn, new figures have shown.
Derek Leith: Chancellor missed an opportunity for North Sea boost
Chancellor George Osborne missed a golden opportunity to announce that the North Sea was open for business when he failed to simplify the tax regime for the oil and gas sector, according to leading industry expert Derek Leith of EY.
Derek Leith: North Sea needs Budget tax regime changes
A leading oil and gas tax expert has called on Chancellor George Osborne to make changes to the North Sea oil and gas tax regime which could put off potential buyers of late life assets.
Sense of trepidation as oil and gas industry looks ahead to 2016
At the start of the year there was a growing sense of trepidation as to what the next 12 months may hold for the sector due to an acceleration of the downward trajectory of the oil price in the second half of 2014.
Christmas Wishes: The team at EY
Oil price crash starting to “bite”, says EY
Growth in the economy of the north-east is set to hit reverse as the effects of the plummeting price of oil and gas is starting to “bite”, economists have warned.
EY survey shows 67% of oil and gas companies ready to do deals
More than two-thirds of global oil and gas executives expect to pursue an acquisition in the next 12 months, according to EY’s Oil & Gas Capital Confidence Barometer.
Saltire Energy boss picks up business accolade
The chief executive of Portlethen-based Saltire Energy, Mike Loggie, has added another gong to a fast-growing list by winning the entrepreneur of the year title at a business awards event.