Energy Voice: No Apocalypse Just Yet, Says KPMG’s Top Oil and Gas Man in Aberdeen

The four horsemen of the apocalypse are not about to show up in Aberdeen but Europe’s energy capital is facing a serious downturn in its fortunes, an oil and gas expert said last night.

Alan Kennedy, UK oilfield services lead partner in the Aberdeen office of professional services firm KPMG, was speaking in advance of an energy industry breakfast “summit” in the Granite City.

The event will be hosted by trade body Oil and Gas UK (OGUK) and KPMG at Aberdeen Exhibition and Conference Centre, and will focus on the impact of lower oil prices on the north-east economy.

Mr Kennedy said: “We are all too acutely aware of how the national and international media’s spotlight on oil price volatility appears to the outside world to portray an industry in crisis.

“Despite the sharp price drop and cost-cutting exercises announced, we are not prophesising the arrival of the four horsemen of the apocalypse on Union Street."

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