Tag: Statoil

Kiran Stacey

North Sea oil rigOil and gas operators in the North Sea have ramped up their lobbying efforts to persuade the government to reverse, or at least dilute, its tax hike on those companies to pay for the cut in fuel duty.

Early on Wednesday Oil & Gas UK, the industry’s lobby group, produced figures showing confidence among producers in the area had slumped.

On a scale from 1 to 100, with 50 being neutral, overall confidence dropped 12 points to 51. For E&P companies, the fall was particularly pronounced, with a 25 points drop to 46, the lowest ever for the sector. Confidence among major producers, meanwhile, was 21 points lower at 39.

FT Energy Source

Kiran Stacey

Unsurprisingly here at the first Oil & Money annual conference since the BP oil spill, the talk in the corridors and meeting rooms, not to mention the main stage, has been dominated by that tragedy.

In general, the tone has been one of a stoic determination on the part of executives to carry on as normal, although coupled with an acceptance that much of the fallout is as yet unknown.

But at one of today’s session, that stoicism boiled over into outright hostility towards the US government about its attempts to regulate the industry post-Macondo.

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