A new report has found that Britain cannot depend on gas imports from Europe during cases of extreme weather, highlighting that the UK’s energy supplies have become vulnerable to market volatility. The extreme weather Britain faced in the beginning of March, nicknamed the “Beast from the East”, saw wholesale prices […]
Deirdre Michie, chief executive of Oil and Gas UK (OGUK), has said strike action on a major North Sea oilfield development could have significant implications for the much-needed investment into the region. A dispute, between workers and employees on the £4.5 billion Mariner project, over poor working conditions resulted in […]
Mark Carney, head of the Bank of England, has said a move to a low carbon economy, that is too quick, could damage the financial stability of the UK. According to Carney, a sudden redirection of funding away from the oil and gas sector, coastal real estate, amongst others could […]
More than a dozen energy firms from Aberdeen are taking part in a trade mission to Ghana in an attempt to boost trade between Scottish and Ghanaian oil and gas companies. The mission is being led by the Scottish international trade advisor to sub-Sharan Africa at Scottish Development International, Cameron […]
Scottish Secretary David Mundell MP has said that the UK government is “open” to the suggestion of a £1 trillion deal with the oil and gas industry. The Conservative raised hopes within the sector following Labour leader Jeremy Corbyn’s recent comments suggest he would review offshore taxes if he were […]
The Institute of Public Policy Research (IPPR) has said a UK sovereign wealth fund would be worth over £500 billion today if it had been established in the 1980’s. In its new report, ‘Our Common Wealth’, the IPPR criticised the UK government’s use of North Sea taxes between 1981 and […]
Russia’s Rosneft has partnered with the Qatari Foundation for Education, Science and Community Development to open a research centre focusing on the energy industry. The announcement was made during a visit by Qatar’s emir to Russia, when a spokesman said: “It is expected that the Qatar Foundation for Education, Science […]
Alex Kemp, professor of petroleum economics at Aberdeen University, has predicted that more than £250 billion will be invested in North Sea oil and gas fields by 2050. In a study titled, ‘Prospects for Long Term Activity Levels in the UKCS to 2050′, Kemp also forecasts production levels to reach […]