Our website uses cookies to store information on your computer. You may delete and block all cookies from this site, but parts of the site will not work as a result. Find out more about how we use cookies.
(Do not show this message again)
Shout99 - News matters for freelancers Advert
Search Shout99 - News matters for freelancers
(Advanced Search)
   Join Shout99  About Shout99   Sitemap   Contact Shout99 23rd Jul 2014
Forgot your password?
Shout99 - Freelancers, FO35, Section 660
New Users Click Here
Shout99 - Freelancers, FO35, Section 660
Shout99 - Freelancers, FO35, Section 660
Front Page
News...
Freelancers' Shop...
Ask an Expert...
Letters
Direct Contracts
Press Links
Question Time
The Clubhouse
Conference Hall...
News from Partners
Accountants

Login
Sitemap

Business Links

Shout99 - Freelancers, FO35, Section 660

Freelancers' Shop

Personal Financial Services
from ContractorFinancials

Mortgages

Pensions

ISAs

Income protection

... and more special offers for Shout99 readers in the Freelancers' Shop

Shout99 - Freelancers, FO35, Section 660
  
Shout99 - Freelancers, FO35, Section 660

News for the
Construction Industry

Hardhatter.com - News for small businesses in the construction industry

Powered by
Powered by Novacaster
Advertisement
Shout99 Jobs

Ukraine crisis has limited impact on oil and gas contractors
by Susie Hughes at 11:17 06/05/14 (News on Business)
The Ukraine crisis is likely to have only a limited impact on the UK oil and gas consultant community, which is not reliant on opportunities in Russia.
According to international professional services consultancy, Procorre, only four per cent of all new oil and gas positions targeting UK consultants are in Russia. This means that any new sanctions on Russia will have only a limited impact on overall demand for UK oil and gas consultants.

Currently the UK, along with the rest of the EU, upholds targeted asset freezes and travel bans against individuals in Russia and Ukraine following the annexation of the Crimea. Despite a peace agreement, there continues to be a standoff in eastern Ukraine between pro-Russian separatists who are occupying Government buildings and Ukraine’s military, and the EU and US are reported to be contemplating wider economic sanctions.

Procorre points out that while the impact on UK oil and gas consultants will be minor, if there is any fallout from the crisis it is most likely to affect the highest paid UK oil and gas consultants. Russian posts account for nine per cent of all top paying posts, ie over £100,000 a year, currently advertised.

Several Western oil and gas companies employ UK consultants in Russia. These include Exxon, which is working on offshore Arctic exploration in Siberia and has plans to widen to shale production in the country, Eni of Italy and Statoil of Norway which also partner with Rosneft on Arctic exploration; and Shell and Total, which have both invested in Russia’s emerging liquefied gas export business.

Lisa Mangan, Relationship Manager at Procorre, said: “While the situation in Ukraine is disturbing, it is unlikely to have a significant impact on the UK oil and gas consultant community as a whole.

“However, if tensions between the West and Russia do escalate then this would be a concern for the significant number of highly paid UK oil and gas consultants that are currently working in Russia.

“The situation on the ground is changing by the day and at this stage it is unclear what the outcome will be.

“However, if the situation continues in the longer-term UK consultants that have developed a particular Russian focus will have plenty of scope to explore opportunities in other high demand regions such as the North Sea, North America and Africa.”


--
If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy - see 'Join Shout99'.
-
Susie Hughes © Shout99 2014

View Comments (Flat Mode) Printer Version

Mail this to a friend
Ukraine crisis has limited imp... Susie Hughes - 6/05
    Re: Ukraine crisis has limited... brianc - 7/05
       Re: Ukraine crisis has limited... ks_y2k - 7/05
          Re: Ukraine crisis has limited... ukmike8 - 8/05
             Re: Ukraine crisis has limited... ks_y2k - 8/05

Copyright 1999-2012, Shout99.com | All Rights Reserved | Legal Notice
 

Advertisements
advert
advert
advert
advert