BP’s Bob Dudley: This will be a year of halves for oil price

BP’s Bob Dudley said 2016 will be a year of halves for oil price. The chief executive said market pressures would see flagging prices recover to $50 before the end of the year. “It has been low in the last year, I think it has been lower for lo… Read More

Opinion: ‘I’m a lumberjack and I’m okay’

A North Sea skit as imagined by Professors Alex Russell and Peter Strachan of Robert Gordon University on behalf of the North Sea oil industry. A Scottish Greens political message to all those who will be losing their North Sea oil-related Jobs Hello… Read More

Rents down and less houses being sold, but Aberdeen bearing up in downturn

The Aberdeen property market is bearing up surprisingly well in the oil downturn, despite more houses sitting on the market and rents dropping by over £100 per month say property experts. Latest figures from the Aberdeen Solicitors Property Centre re… Read More

Greens accused of calling for demise of oil industry

The Scottish Green Party has been accused of calling for the “demise” of the North Sea oil and gas industry. Joint leader Patrick Harvie orchestrated a debate at Holyrood yesterday urging the Scottish Government to transfer support from t… Read More

Work on Statoil’s offshore windfarm to kick-off this summer

Work on a massive windfarm off the coast of a north-east town will begin in the summer, it was revealed last night. Statoil’s £180million Hywind project was approved last year, and at a public exhibition in Peterhead last night, it was announce… Read More

North-east unemployment up 72%, still below Scottish average

The number of people claiming out-of-work benefits in the north-east of Scotland rose by 72% in December as the oil and gas industry sheds staff to cope with low oil prices. But the region still has a lower level of claimants than the Scottish averag… Read More

Brent trades near $28 as glut expands on rising US stockpiles

Brent oil traded near $28 a barrel as rising U.S. crude stockpiles add to a swelling global glut. Futures climbed as much as 1.6 percent in London after falling 3.1 percent Wednesday to close at the lowest level since November 2003. Inventories rose … Read More

Aberdeen firm QTEC merges with Canadian rival

Aberdeen-based oil and gas fluid specialist QTEC Energy Services has merged with a North American rival to create a new company, Focus, employing 60 people. QTEC was part of Broad Cairn Services, owned by north-east businessmen Colin Manderson, Robbi… Read More

Dear Mr Harvie – We will not be ‘managing a decline’

Dear Mr Harvie, I read your comments on the current crisis in Scotland’s oil and gas industry with a mixture of disbelief and anger. Your party’s view on the current crisis in one of our nation’s key industries simply beggars belief… Read More

BG sees profit of at least $2.3billion after oil-price slump

BG Group Plc, which agreed to be acquired by Royal Dutch Shell Plc last April, expects to report full-year profit of at least $2.3 billion after crude oil prices extended their decline. That profit for 2015 included a post-tax gain of at least $600 m… Read More

Noreco embroiled in tax fight with Danish goverment

Noreco confirmed it would contest the latest ruling in its tax fight with the Danish government. The financial spat, which stretches back to 2011, revolves around Noreco’s sale of its Syd Arne field. The Danish authorities at the time challenge… Read More

E.ON to cut average gas price by 5.1%

Energy giant E.ON is to cut its standard gas price by an average of 5.1% and has launched what it claims is the cheapest fixed tariff on the market. The February 1 cut, which it says is the equivalent of £32 off an average annual gas bill, comes afte… Read More

Low oil price sees handful of firms cut hundreds of jobs

A fresh wave of job cuts were revealed yesterday as energy experts warned oil prices could fall further this year due to a continued market glut. EnerMech confirmed it has cut 260 jobs from its operations in the UK and Norwegian Sea in recent months.… Read More

‘Shut oil industry and get staff to cut trees’, politicians claim

The Scottish Green Party wants the North Sea oil and gas sector to be wound down – so offshore workers can become lumberjacks. Joint party leader Patrick Harvie will today table a motion calling for a “managed decline” of the indust… Read More

Shell’s total job cuts to tally 10,000, earnings tumble

Shell today confirmed its total job cuts for 2015-2016 would tally 10,000. Chief executive Ben van Beurden spoke ahead of the oil major’s full year results. The company leader confirmed the total number would be comprised of both direct staff, … Read More

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