New tax rules aim to end ‘big debate’ on UK decommissioning
New changes for decommissioning tax rules will help end “areas of dispute” between the industry and UK government, according to a leading expert.
oil and gas
EnerMech lands string of UK contracts worth ‘tens of millions’ of pounds
Aberdeen-headquartered engineering firm EnerMech has won a string of contracts for its UK operations worth “tens of millions” of pounds.
Shell North Sea boss Phimister leaving role as part of UK management change
Shell North Sea boss Steve Phimister is moving into a new role as part of a change of UK senior leadership.
OBR forecast for UK oil tax receipts slashed 80% for 2024
The forecast for tax revenue the UK Treasury will take from oil and gas in the future has been slashed by the Office for Budget Responsibility (OBR).
Budget: RMT calls for £220m annual ‘Just Transition Fund’ for workers
With just hours until the Chancellor’s Budget, the RMT Union has called for creation of a £220million annual “Just Transition Fund” for offshore workers.
Calls for UK Government to put net zero at heart of upcoming spring budget
Westminster is being urged to ensure that plans for net zero remain a “top priority” for businesses and society in its upcoming spring budget.
Subsea 7 reports losses of £750million, warns Covid will impact 2021 results
Subsea 7 has reported a major widening of pre-tax losses and warned that its 2021 results will continue to be impacted by Covid-19.
Wintershall Dea losses top £1billion as Covid cuts oil and gas prices
Wintershall Dea of Germany saw losses widen to more than £1billion in 2020 as Covid-19 brought down commodity prices.
‘Economic fallout’ in Aberdeen laid bare
A leading Scottish economist has said the greater exposure to the “economic fallout” of the Covid-19 crisis suffered by Aberdeen and wider north-east, compared with other parts of the country, must not be forgotten in post-pandemic rebuilding efforts.
Employers very wary of ‘no jab, no job’ policy, says top oil and gas lawyer
Most oil firms would be “very wary” of trying to enforce a “no jab, no job” vaccine policy for its workforce, according to a top employment lawyer.
Worley profits down 70%, hails completion of Buzzard Phase 2 contract
Profits dropped more than 70% for engineering services giant Worley during the first half of its 2021 financial year.
Oil services M&A: 2021 and beyond
Law firm Womble Bond Dickinson and consultancy ROOTT discuss the oil and gas services sector M&A trends expected in 2021.
IR35 reform: what oil and gas firms must do by 6th April
While COVID-19 and Brexit have dominated the agenda for oil and gas businesses in recent times - and rightly so I should add - there is a third issue that this industry is taking just as seriously. I am, of course, referring to IR35 reform in the private sector.
NXG opens larger Aberdeen HQ and launches Mexico operation
Drilling technology and services firm NXG has invested more than £1million to open new Aberdeen headquarters, and launch an operation in Mexico.
DNV GL scoops up deal with Total’s UK North Sea business
Oil major Total has handed risk management company DNV GL a three-year deal for the provision of a range of services across its UK North Sea portfolio.
Brent near $64 with Goldman Sachs predicting more gains
Brent oil resumed gains as the market assessed the fallout from the big freeze across Texas, with Goldman Sachs Group Inc. predicting prices will advance into the $70s in coming months.
Holyrood to ‘consider’ quarantine exemption for Scots returning from overseas oil jobs
Nicola Sturgeon said today that the Scottish Government would “consider” excusing Scots from having to quarantine in hotels on their return from overseas oil jobs.
Aberdeen chauffeur shares tales of transporting oil and gas workers during pandemic
An Aberdeen chauffeur firm carried out two roundtrips of more than 1000 miles in as many days as part of efforts to help oil and gas workers during the pandemic.
North Star Shipping gets £40m cash boost to fuel growth
North Star Shipping, the largest offshore support vessel operator in the North Sea, has secured a £40million finance package from Bank of Scotland.
UK remains ‘core position’ for Shell oil business amid net zero drive
Shell has named the UK North Sea as one of nine “core positions” for its oil and gas business going forward, as it today revealed its net zero strategy.
OPEC won’t change policy at next meeting, says Iraq oil minister
Iraq said the OPEC+ oil cartel is unlikely to change its production policy at next month’s meeting and repeated promises to deliver overdue output cuts, even as the Arab nation’s economy reels.
Updated: Oil workers could be granted exemption to Scotland travel quarantine measures
Transport Secretary Michael Matheson has said oil and gas workers travelling back into Scotland could be granted exemption from enforced quarantine measures.
Total to rebrand as ‘Total Energies’ as French oil giant makes climate push
French oil giant Total plans to rebrand as “Total Energies”, in a move it said would underline its strategy to become a net zero emissions company.
Aberdeen charity takes stock as Granite City offices lie empty
An Aberdeen charity is quite literally taking stock as many offices in Europe’s oil and gas capital now lie empty.
Maersk Drilling wins £10.5million KNOC contract in Korea
Maersk Drilling has won a £10.5million contract with Korea National Oil Corporation (KNOC).