As Scottish oil industry booms, Aberdeen contractors more confident but Scottish media pay little attention.

North Sea Giant

(c) subseaworldnews

We’ve seen reports of soaring value, of greater exploration and of returning employment in Aberdeen:

According to Bank of America, oil prices could hit $100 a barrel next year but all of Scotland’s ‘business correspondents’ miss the news again and for the fourth time in a year.

A wealthy independent Scotland? Nearly $300 billion in new oil revenue to be unlocked in latest offshore licensing round.

As oil prices soar and exploration increases, employment in Scotland’s oil industry returns to record levels

Now, we see evidence of growing confidence in the contractors and suppliers supporting the industry. A survey by Aberdeen and Grampian Chamber of Commerce, in association with the Fraser of Allander Institute and KPMG, reveals the following:

  1. 64% of contractors more confident
  2. 8% less confident
  3. 71% expect growth to continue
  4. Exploration value expected to rise 21% this year
  5. 46% expecting rise in value of offshore production
  6. 70% forecasting an increase in profits in 2018

https://www.oilandgaspeople.com/news/16707/north-sea-confidence-reviving-in-aberdeen-area/

You’ll see I had to go to the industry news agency, Oil and Gas People, to get this story. I can’t see it our mainstream media. They generally love anything from the Fraser of Allander Institute.

The return of affluence to Scotland’s oil and gas sector was not factored into the Growth Commission Report. I understand why but it makes no sense for this to be ignored altogether as we make the case for independence.

 

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