Most North Sea oil and gas firms no longer planning job cuts and reporting growing confidence in recruitment according to Bank of Scotland report.



We’ve already seen three recent reports including one from the Aberdeen and Grampian Chamber of Commerce confirming a clear turnaround of the employment prospects in the North Sea:

Scottish Oil’s Confident Future: Three Reports

We’ve also seen a report from Aberdeen JobCentre reporting month-on-month improvements with more workers returning to the sector.

As Scottish unemployment falls, North Sea employment starts to climb again

Now, to add further evidence, we have a Bank of Scotland report today saying that most are no longer planning job cuts, were more optimistic about recruiting and that the huge finds to the west of Shetland were ‘causes for great excitement’ for them. Bear in mind the inherent conservatism or canniness among business people when something good appears to be happening and you’ll know things are probably getting better and getting better faster than the report suggests.

For a reminder of just how big the west of Shetland finds are, see:

Estimates of Scotland’s oil reserves West of Shetland now massively increased to around 8 billion barrels! ‘A super-resource now on the cards.’

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