Wood can’t see the green shoots (of oil recovery) for the trees?


From Insider today:

‘Wood continues to see oil and gas green shoots. Aberdeen-based group’s trading update says North Sea activity expected to strengthen in second half of the year. Wood, the Aberdeen-based energy services group, today said it is continuing to see early signs of recovery in its core oil & gas market.’


It’s an astonishingly late and tentative assessment. Are they worried the Treasury might want to tax them? Prices are rocketing and exploration has been increasing since last year. See these from just this year:

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

‘Treasure trove’ of new oil and gas exploration data released

Mr Burns lookalike toasts North Sea’s ‘second ‘excellent’ coming’

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

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

Multi-million-barrel oil discovery in North Sea

How to make a ‘potentially massive’ oil find one that ‘isn’t a big find’? Just lie, omit and minimise. Ask BBC Scotland.



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