The people of the United Kingdom’s decision to leave the European Union is unlikely to have a major adverse impact on the country’s oil and gas industry, companies and organizations involved in the sector said. But they also called for clear leadership from the UK government on the way forward for the industry in order… Continue Reading »
Ninety-two percent of UK subsea companies will recruit less people than they did 12 months ago, according to a survey by industry body Subsea UK. Almost 70 percent of companies surveyed were not actively recruiting and 28 percent were recruiting fewer people than they were in 2015. More than 20 percent of respondents said that… Continue Reading »
Almost half (43 percent) of UK oil and gas firms are planning further cost cuts to help manage the impact of the industry downturn, according to the fifth annual Bank of Scotland report on the oil and gas industry. The Re-evaluating Strategies report gathered views from across the industry, including its supply chain, and found… Continue Reading »
Future Kimmeridge Limestone oil production projects over the UK’s Weald Basin could generate between approximately 1,000 to 5,600 jobs in the UK per year on average during their lifetime, according to a report from advisory services firm EY, which was commissioned by UK Oil & Gas Investments plc. The report predicts that the gross value… Continue Reading »
The Oil and Gas Authority (OGA) has issued an invitation to tender (ITT) for the 2016-2017 UK Government funded seismic acquisition and processing. According to OGA, the recipients of the contract will be required to survey areas over South West Britain including the Celtic Sea, Western English Channel, Irish Sea and the East Shetland Platform. Furthermore, a… Continue Reading »
UK Chancellor of the Exchequer George Osborne has announced significant tax cuts to help “one of the most important and valued industries” in the country in his Budget speech Wednesday. The measures include halving the Supplementary Charge on oil and gas and the effective scrapping of Petroleum Revenue Tax. “The oil and gas industry employs… Continue Reading »
The Aberdeen & Grampian Chamber of Commerce has become the latest organization to call on UK Chancellor of the Exchequer George Osborne to make further tax cuts to lengthen the lifespan of the North Sea oil industry. In a statement released Monday, the AGCC said that this Wednesday’s Budget should include “definitive action in order to… Continue Reading »
Oil & Gas UK has warned that the UK oil and gas sector needs urgent tax reform in the forthcoming Budget to boost the industry’s competitiveness and investors’ confidence in the UK continental shelf (UKCS). The calls for changes in tax follow the trade association’s recent publication of new forecasts which show that in the… Continue Reading »
Wood Group PSN (WGPSN) has announced plans to reduce the rates paid to approximately a third of its UK-based limited company contractors by an average of 9 per cent, in line with competitive market rates. James Crawford, managing director of WGPSN in the UK and Africa, said: “This is not a decision we have taken… Continue Reading »
The most-thorough survey into the size and shape of the North Sea workforce has found that UK male offshore workers are bigger than the country’s typical male and even larger than the average American male. The findings, which are a result of a joint project between Aberdeen’s Robert Gordon University and Oil & Gas UK,… Continue Reading »
