North-east of Scotland have reaped huge benefits from the oil and gas industry but there have been downsides. House prices have escalated, as have retail prices. Unemployment is the lowest in Scotland but the high [...] industries. Aberdeen learned a harsh lesson in the eighties when the oil price slumped and the industry went into recession. House prices fell so dramatically some people simply handed their keys into their [...] available hotel rooms are filled by oil personnel. Will significant numbers of oil industry workers choose to make their homes in the Faroe Islands and push up the prices in the same way as happened in Aberdeen

Samstundis ávara serfrøðingar um, at bensinið verður uppaftur dýrari, enn tað er nú. Stovnurin Oil Price Information segði í gjár, at bileigararnir hava ikki merkt tað ringasta enn. Sagt varð, at tað er [...] tað dýrkar, hvussu dýrt tað verður, og hvussu leingi tann høgi prísurin fer at halda sær. Sambært Oil Price Informatiuon er tað væl hugsandi, at bensinprísurin í USA fer at hækka eini 25 prosent eftir stuttari

"What might a world of high oil prices mean for the Faroe Islands?" Tað er evnið, sum vártingið hjá Oljutinginum fer at viðgera Á Vártinginum hjá Oljutinginum fer Professor Paul Stevens frá Centre for [...] Policy, á Universitetinum í Dundee at halda fyrilestur undir heitinum, "What might a world of high oil prices mean for the Faroe Islands?". Úti í heimi hava ymisk viðurskifti ført við sær, at oljuprísurin

an offshore industry. They operate the only oil industry supply base in the country and are able to offer a complete service to the large oil companies. Oil activities Since the company was founded in [...] and extensive experience within the service sector and trade in general with the oil industry, through operating the oil industry supply base in Rúnavík. The ASB head office on the Runavikar town council’s [...] established a broad subcontractor base, offering services and equipment at competitive prices. ISO certification Since the last oil exploration activities, ASB has improved its services even more. They now hold

regarding the Faroes in an oil industry context. Close to oil areas As oil has become extremely expensive, oil companies are looking for alternative ways to reduce their own oil consumption. This could soon [...] monitored oil industry developments for a long time and has prepared itself to expand activities. This means we have several areas available, which within a very short time can be developed for oil industry [...] not participate we cannot expect to gain anything, it’s as simple as that”, says Mr Klæmint Østerø Oil industry supply harbour In the longest fjord in the Faroes lies the port of Runavík. For the past few

of combining to extract value. Of course, the recent volatility in the oil and gas sector and particularly the fluctuating oil price following the events of September 11 has added an extra layer of uncertainty [...] significant growth for a small, start-up company but which would not figure on oil major?s materiality radar. Dublin-based Tullow Oil entered the UK upstream sector by acquiring assets from BP for £201 million [...] York Stock Exchange were shelved as the OSX oil services index went south. Manderson has been concentrating on continuing to build ASCO into a truly global oil industry supply chain business with the level

Shetlends?s Oil Experience Hans J. Marter Shetland is ready for the Faroese oil industry to take off and is confident that both island groups will benefit hugely once oil is discovered in the Faroese sector [...] comparatively strong negotiating position with the oil industry. After all, the oil multies wanted something from the island community ? namely a landfall for oil from the huge fields in the East Shetland Basin [...] payments to the SIC in the light of declining North Sea oil expectations. However, due to improve oil recovery techniques and the development of oil fields to the West of Shetland, the presence of the terminal

Director for Keel Solution, Mr Dánial Hoydal. -Very much is happening in the oil industry at the moment. Oil prices are high and oil companies are interested in increasing effectiveness where at all possible [...] requirement for a system, which is capable of collecting all the knowledge accumulated in oil companies. A large global oil company recognised the value of such a system and they wanted it developed immediately [...] on the agenda. This month Keel Solution is participating in the large oil exhibition in Stavanger. All knowledge in one system Oil company activity is complex and extensive. Therefore, it is very important

from oil-related work and the dues Orkney?s Harbours Department charges the tankers that take oil and gas away from Flotta. But Orkney Islands Council, which has generated huge cash reserves in oil-linked [...] completely reversed by oil.« One of the important reasons for creating the oil reserves was to ensure money was available to help the islands cope with the eventual closure of the oil terminal - now projected [...] man made - and serves as a powerful symbol of the impact oil has had on the Orkney Islands. A huge orange flame has blazed above the Flotta Oil terminal for almost a quarter of a century now. It can be

somewhat afraid of imposing demands upon the oil companies in case they scare them off: – I think there is no reason for such an attitude, because as long as the oil price is where it currently is, the Faroes [...] He thinks that as long as we are exploring for oil, we can defend such a demand, but the question how do we follow up and control such a demand if an oil industry emerges. – I am not saying that such a [...] – We must not afraid to impose demands upon the oil companies, which are active and intend to work in Faroe waters, says Mr Rasmussen. Supply Service Leirvik, which operated supply vessels from the Norwegian