Just 5% of oil and gas firms think Brexit will have positive effect, survey says
28th November 2018 | Commercial Energy
The study found that 45% of energy companies predict leaving the EU will have a negative impact on the sector. Only 5% of oil and gas companies think Brexit will have a positive impact on the UK Continental Shelf, according to a new survey. The industry report found half of firms anticipate that Britain leaving the EU will have no effect, while the remainder (45%) predict it will have a detrimental effect on the sector.
The 29th Aberdeen & Grampian Chamber of Commerce Oil and Gas Survey found that firms have concerns about the impact and additional costs that Brexit will have on their trade and export activities, and that it could make it more difficult and expensive to do business in Europe. A number of firms stressed concerns over EU employees leaving the EU, or firms not being able to attract new staff from Europe.
Overall, this survey tells us that change is afoot and the direction of travel is positive, but there continue to be potential traps along the way, not least the impact of Brexit, a potential impending skills gap and environmental and climate change risk. Almost half think the Brexit will have a negative effect on their ability to attract talent to their organisation, while almost half anticipate no impact.
However, away from the Brexit issue, the study found that workforce recruitment is on the rise among oil and gas contractors in the UK Continental Shelf (UKCS) as business confidence reaches its highest level since 2013. The report, carried out by the Chamber of Commerce in partnership with the Fraser of Allander Institute and KPMG, found that 21% of firms have increased their total UK-based workforce by more than 10% in the last 12 months, with 33% anticipating this trend will continue in 2019.
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