Oil : The denial stops now

[rob murray]

Veolia are really a French outfit however with the actual dismantling being carried out in Norway.
Not much meat on the bone for the UK there.

Thanks I didnt know who Veolia were

[davth]

Thanks I didnt know who Veolia were

No problem, always happy to help

[rob murray]

No problem, always happy to help

Good to get "adult" help on here.....I take it youve an interest in oil, whats your take on Oil price impact ?

[davth]

Good to get "adult" help on here.....I take it youve an interest in oil, whats your take on Oil price impact ?

On a personal level, concerned.
Aberdeen is in a bad way at the minute.
A trigger point for me is if we start to see oil companies decommissioning ahead of plan.
But there is a lot of mature assets out there which are "near end of life" and would be decommissioned regardless.
If they start knocking off assets that have a decent production rate then we are on to plums.

[rob murray]

On a personal level, concerned.
Aberdeen is in a bad way at the minute.
A trigger point for me is if we start to see oil companies decommissioning ahead of plan.
But there is a lot of mature assets out there which are "near end of life" and would be decommissioned regardless.
If they start knocking off assets that have a decent production rate then we are on to plums.

Good point made in killing off productive assets being the big barometer...yep Aberdeen and the travel to work area ( Fraserburgh - Montrose / Forfar ) is battered, to these folk oil was not a bonus as some put it, it was there lives, many well paid shore jobs are gone now and gone for good with the knock on effect hitting businesses, heard the term "hackathon" ?? ....management speak for cost reductions, one leading player ( cant name names ) had a hackathon to hack a million quid of costs out of their processes for 100 days.......I kid you not !.

[davth]

Good point made in killing off productive assets being the big barometer...yep Aberdeen and the travel to work area ( Fraserburgh - Montrose / Forfar ) is battered, to these folk oil was not a bonus as some put it, it was there lives, many well paid shore jobs are gone now and gone for good with the knock on effect hitting businesses, heard the term "hackathon" ?? ....management speak for cost reductions, one leading player ( cant name names ) had a hackathon to hack a million quid of costs out of their processes for 100 days.......I kid you not !.

Many folk have little sympathy for the laid off workforce.
"they have had it good", "have been overpaid for too long"
But consider this, many folk (not I) have relocated to Aberdeen to work there.
Your average 3 bed semi costs 3 times the price of one in Caithness, many of these folks are now in jeopardy financially because of this.
Big players in the city are playing dirty tricks i.e. moving jobs to the other end of the country, and telling workers take it or leave!
Offering staff alternate jobs but insisting on them resigning first so as to "reset" the years of service clock.
Changing working rotas from 2 on 3 off to 3 on 3 off with no recompense.

But on the other hand, if they really are making losses then things need to change to preserve the future of the industry.

[rob murray]

Many folk have little sympathy for the laid off workforce.
"they have had it good", "have been overpaid for too long"
But consider this, many folk (not I) have relocated to Aberdeen to work there.
Your average 3 bed semi costs 3 times the price of one in Caithness, many of these folks are now in jeopardy financially because of this.
Big players in the city are playing dirty tricks i.e. moving jobs to the other end of the country, and telling workers take it or leave!
Offering staff alternate jobs but insisting on them resigning first so as to "reset" the years of service clock.
Changing working rotas from 2 on 3 off to 3 on 3 off with no recompense.

But on the other hand, if they really are making losses then things need to change to preserve the future of the industry.

Well put....youd have to be one sad individual to go down the "theyve had it too good for too long road eh ? In one company that I am involved with fathers / wifes / children all work there ie on shore suport jobs...so when the red letter day came the efect was as you'd expect massive. Big wages were paid out in the good days of high dollar barrel prices, companies basically "out bidding" each other and ratchiting wages up, now as you say all the dirty tricks are being pulled. The oil companies themselves operated ineffeciently and got fat and complacent so now in the new reality ie a celing of 60 / 65 dollars, they have to get the costs down to make profits.