The Oil and Gas Authority (OGA) has slammed “poor behaviour” in the North Sea supply chain, with firms facing demands to cut rates as much as 40% “overnight”.
The UK Government’s furlough scheme is unlikely to “stem the tide” of oil industry job losses as employers are told to start contributing to wages in the coming months, lawyers and politicians said.
Entrepreneur Martin Gilbert has been appointed chairman of the Oil and Gas Technology Centre (OGTC) at a “pivotal time” for the energy industry.
The Covid-inflicted oil price crash has left oil and gas companies facing two distinct choices, a new report said.
There is “hope” for a return of subsea project activity in UK waters next year and in 2022, a market analyst has said.