ENERGY & UTILITIESOil and gas field at threat from refinery strikeThe strike at Scotland's only oil refinery could hit oil, gas and electricity production in the UK, impacting heavily on energy prices.
(The Scotsman) Experts have warned that planned strike by Ineos staff at the Grangemouth refinery could lead to the closure of offshore oilfields costing the industry around £50million a day. BP revealed yesterday that it has made plans to shut down productions on a selection of platforms in the North Sea. David Hunter, an energy analyst with the consultant McKinnon & Clarke, said: "This will lead not only to a shortage of oil, but also gas – by-product of producing oil at many fields – and electricity, as 40% of electricity is produced by burning gas. This couldn't have come at a worse time for consumers, with energy prices at all-time records. Wholesale prices are 89% higher than a year ago for power, with gas up a staggering 127%. There have been further increases today, with winter gas hitting new highs of 83p/therm. If the strike goes ahead, things could get worse and that is going to hammer hard-pressed homes and businesses." The threat of diminishing fuel supplies has led to a spate of panic buying being reported across the country. Scotland's First Minister Alex Salmond called upon motorists to use public transport rather than exacerbate the problems. He said: "Clearly, it is a time when we need everyone's co-operation in not having repeat buying, in behaving sensibly and responsibly, to cut out non-essential trips, to use public transport. But the central message is that stocks of the available range of fuel will stretch into May and there is the capacity to import more if required."
Aker deal with Fairfield to create Aberdeen jobsAround 100 jobs will be created in Aberdeen by Aker Solutions after the company announced that it had been awarded a three-year North Sea contract.
(Aberdeen Press & Journal) The deal with Fairfield energy will be worth between £20million and £30million and will have an option to extend beyond the initial three-year agreement. Aker Solutions will be required to provide Fairfield with construction, procurement and engineering services aboard the Dunlin Alpha platform located in the northern North Sea. Aker Solutions' Rod Buchan said: "Fairfield Energy is a new client for us and is taking over its first North Sea Asset. Our success in winning this work is very much aligned with our key strategic goals, one of which is to develop relationships with independent operators and new entrants to the UK. Fairfield has ambitions to become a key North Sea operator, and we look forward to supporting its plans to achieve significant growth over the coming years and to delivering significantly increased value from the Dunlin asset.
Read all today's energy and utilities news from scotsman.comFOOD, DRINK & AGRICULTUREPack to receive award from RHASSThe Royal Highland and Agricultural Society of Scotland (RHASS) is to award Brian Pack OBE with a lifetime achievement award for his contribution to the food and drink industry in Scotland.
(The Scotsman) As chief executive of ANM group for the past 18 years, Pack has seen sales of over £190million and has presided over more than 600 staff. With a history in the auctioneering of livestock, ANM has broadened its horizons into meat and food processing and sales. Gareth Baird, chairman of the RHASS food and drink committee, said: "In making this award to Brian, we are recognising his contribution to the whole food chain – from primary production to processing, marketing and retailing. All along, he has been a champion of closer links with the industry and continues to forge a better understanding of the importance of farm and food production to the national economy and life of Scotland."
Read all today's food, drink and agriculture news from scotsman.comINDUSTRYUpturn in fortune for Scotland's manufacturing sectorA CBI Scotland survey has reported that the manufacturing sector in Scotland has made slight improvements compared to the performance in the previous six months.
(Aberdeen Press & journal) The industrial trends survey reported modest growth in output and orders as well as manufacturers securing price rises despite ongoing cost inflation. Iain McMillan, director of CBI Scotland said: "On many of the key indicators, Scottish industry is reporting a slightly more upbeat position than compared to firms elsewhere in the UK. The challenge will be to sustain this, and it is heartening to see firms planning to step up their investment intentions over the next 12 months in respect of training and innovation, despite fears over continued rising input costs. The data once again reinforces the crucial role that exports play in the health of Scotland's manufacturing industry, with export optimism for the year ahead having perked up. This provides a welcome backdrop to the proposed Holyrood parliament inquiry into the country's export performance and trade promotion activities and CBI Scotland looks forward to ensuring that domestic businesses which trade internationally continue to be able to access the very best support available."
Read all today's industry news from scotsman.comTECHNOLOGYDip in profits for Wolfson as demand slows down
First-quarter profits have fallen at Wolfson Microelectronics, the technology firm who provide chips for the iPod.
(The Herald) Wolfson reported that difficult economic and industry circumstances had led to the drop in profit, however the Edinburgh-based company claimed it was still in line to make progress. Wolfson's operating profits fell to £1.2million, in the quarter ended in March, a drop of 25% on the same period last year. However, the company plan to counter this downturn in fortune by expanding its product range, to include new AudioPlus products, and reducing the reliance placed on its larger customers. Wolfson chief executive Dave Shrigley said: "We are continuing to achieve strong design win momentum from both existing and new customers. Wolfson is on course to achieve solid progress this year, through focused execution of our AudioPlus strategy, a broadening of our revenue base across customers and applications, and conservative management of the business. As a result, we remain confident of delivering another year of revenue growth."
Lawyers claim global thinking benefits Scottish firmsScottish businesses will have to improve their ideas and technology if they are to make an impact in a global stage according to a leading law firm.
(The Scotsman) Maclay Murray and Spens (MMS) have given Scotland credit for its intellectually property (IP) indicating that its one of the nation's greatest commercial strengths. The law firm pointed out that their comments were based on work performed by Scottish companies on the international market. Alison Bryce, an associate in the IP and technology department at MMS, said: "The difference in the marketplace nowadays is that it's no longer good enough just to be a good Scottish company with your eye on Scotland. A lot of our clients have changed their dynamics and changed their outlook and see themselves as global players. The marketplace is changing and we'd be really naïve to think that we could keep all of our information to ourselves," she said. "The more dynamic players are recognising that we can generate revenue from taking ideas and concepts overseas and they are quite often benefiting from these partnerships."
Read all today's technology news from scotsman.com
The full article contains 1257 words and appears in scotsman.com newspaper.
