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Business Growth Fund invests in Scottish engineering firm
The Business Growth Fund has made its first deal in Scotland. Aberdeenshire-based STATS, a maker of specialist tools for oil and gas repairs, has secured £7.8m in funding from the Business Growth Fund....
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Funding for Scottish energy training academy
Scottish First Minister Alex Salmond has launched an industry-led energy skills academy, established with over £900,000 public funding, to deliver training for thousands of workers across key sectors...
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‘Disappointing’ fuel tanker strike ‘threatens to clog the arteries of the...
Following the announcement by the Unite union that fuel tanker drivers in the oil industry plan to strike over terms and conditions, the CBI and the Institute of Directors (IoD) have both spoken out,...
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Scotland’s oil and gas exports increase
Scotland’s oil and gas supply chain exports rose by 4.5% in 2010-11. This comes from the latest survey of international activity in the sector from Scottish Enterprise and the Scottish Council for...
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Climate change policies could halve energy price rises
Secretary of State for Energy and Climate Change Edward Davey has said that climate change policies could have a huge effect on the economy. Mr Davey said that the negative impacts of price spikes in...
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Coryton plant closure puts 850 jobs at risk
South East England’s biggest petrol and diesel supplier is to be wound down over the next three months. Administrators PwC said the Coryton plant in Essex had failed to find a buyer or the £625m in...
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Energy Minister gives drilling consent for Cambo-5 well
Energy Minister John Hayes has given Chevron North Sea Ltd consent to drill the deepwater Cambo-5 well, west of the Shetland Isles. Chevron is to drill the well as substitute operator on behalf of the...
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Scottish economy could generate £2.7bn through carbon capture and enhanced...
Combining the storage of carbon and using it for enhanced oil recovery in some of Scotland’s key oil fields could generate up to an additional £2.7bn GVA for the economy, according to a new report. The...
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Unite urges Ministers to ensure UK’s future oil refining capacity
Ministers have been urged to take urgent steps to ensure the future security of the UK’s oil refining capacity by Unite, the country’s largest union. The call has come in the wake of the closure of the...
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£1bn Shetlands oil and gas development gets go ahead
A £1bn project to develop two oil fields in the North Sea, led by Aberdeen-based Dana Petroleum, was given the go-ahead. The Department of Energy and Climate Change has approved the Western Isles...
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£22bn could be saved in successful oil and gas recovery
Increasing the rate of successful oil and gas recovery in the North Sea by just 1 per cent would deliver £22bn of extra tax revenue, Energy Minister Fergus Ewing has announced. Maximising the amount of...
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Government authorises oil drilling in North Sea
The Government has given Statoil consent to drill one of the biggest developments ever in the North Sea. The development of the £4.6bn Mariner heavy oil field has been made possible through partnership...
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Scotland: Oil Analysis shows boom years ahead
Scotland’s long-term future as a major oil-producing nation and European energy powerhouse was confirmed today with new analysis showing the country is in line for a renewed oil boom in the coming...
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UK’s oil stocking system to be reviewed
The future of the UK’s oil stocking system is being considered by a consultation launched by government. Views are being invited on whether the present obligation on suppliers to hold stocks is the...
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UK oil and gas sector gets record investment
The latest report from Oil and Gas UK highlights that investment in the sector is expected to reach a record £13.5bn in 2013, with a further £100bn required to develop the oil and gas reserves in...
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£4bn Oil development approved
EnQuest PLC, the largest UK independent oil company in the UK North Sea, has given its go-ahead for a £4bn in investment in the140 million barrel oil field Kraken development. The Kraken is set to...
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Autumn Statement 2013: KPMG ‘Oil and Gas’ comment on Autumn Statement
Martin Findlay, tax partner at KPMG in Aberdeen has commented on the UK Governments intention to levy national insurance contributions on workers employed through offshore intermediaries as of April...
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Government kicks off talks on future of tax regime for oil and gas industry
Financial Secretary to the Treasury Nicky Morgan is set to meet heads of the oil and gas industry in Aberdeen for the first time since the Budget, when it was announced that there would be a review...
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Proposals to simplify shale gas and geothermal industries
The government is launching a consultation on proposals to simplify the existing procedure for shale gas and oil and deep geothermal underground drilling access. The new proposals would simplify...
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New onshore licensing round opens
Ministers have opened the bidding process for companies seeking licences to explore for onshore oil and gas, to help discover how the gas under our feet can help power our homes. Business and Energy...
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