News Archive for: January 2015

George Osborne has confirmed that he will deliver new North Sea tax cuts within weeks – but also signalled that he wants to ban Scots MPs from voting on the Budget.

The chancellor said he was “sure” that there would be “further steps” to protect oil and gas jobs in…

CASH buyers including sovereign wealth funds are circling Scotland’s oil and gas companies as they bet that an eventual rebound in crude prices will deliver big pay-offs.

Analysts say the sector has become a buyer’s market as firms that are short of cash or need to service debts desperately look…

Work on EnQuest’s new North Sea headquarters in Aberdeen is proceeding as planned despite the firm’s plunging share price and oil and gas industry woes.

It is understood that there is no threat to the development in the heart of the Granite City, where EnQuest’s new north-east home – Annan…

North Sea oil expert Sir Ian Wood, who led a review of the industry for the Government which reported last year, said a major tax cut was necessary to give producers the confidence to keep their operations going.

He said the supplementary charge on profits should be cut from 30%…

The world’s top energy watchdog has signalled a potential recovery in the price of crude as it anticipates a slowdown in oil production growth outside the Organisation of the Petroleum Exporting Countries (Opec) cartel.
The International Energy Agency (IEA), in its closely-watched monthly market report released Friday, scaled back its…