Scottish Business Buzz

Scottish Business Buzz (04.07.18)

Written by Katy Johnson

BP is significantly increasing its holding in one of the North Sea’s biggest oilfields in a sign of continued confidence in the region.

The company is acquiring from ConocoPhillips a 16.5% interest in the BP-operated Clair field. It is also selling its non-operating interest in the Kuparuk and satellite oilfields in Alaska.

The transaction takes BPs stake in Clair field, west of Shetland, to 45.1% and leaves ConocoPhillips with a 7.5% interest.

Details of the transactions are not being disclosed but are expected to be cash neutral for BP and ConocoPhillips.

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Lidl will welcome a host of new producers to celebrate home-grown Scottish Favourites with premium meats and organic cheeses, as well as favourites like shortbread and whisky.

Across 95 stores in Scotland, the Scottish Favourites in-store promotion will offer a selection of nearly 100 products, giving customers the opportunity to select their favourites from over a million individual items.

With a focus on local provenance, the Scottish event sees Lidl working with seven new suppliers from different regions including Robertson’s Fine Foods of Ayrshire, Connage Highland Dairy, and Mackie’s ice-cream.

Lidl is also planning to open four new stores across Scotland in Paisley, Dumbarton, Giffnock and East Kilbride, creating hundreds of jobs.

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Barclays is reportedly considering an expanded base in Glasgow as part of its Brexit planning, Chief-Exec.com reports.

The bank has taken on a short-term lease on premises in Uddingston, south-east of Glasgow, and is reportedly developing plans for a purpose-built site.

A source at the bank said: “Nothing is a done deal until they start moving people, but Glasgow is cost-friendly, has a good workforce – and might be in the EU when independent.”

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Entrepreneurial Scotland and STV have joined forces to launch a new campaign celebrating entrepreneurship across Scotland.

Summit – Celebrating Scottish Entrepreneurship will showcase inspirational stories which explore the entrepreneurial mindset, illustrate its brilliance and highlight the value to our country’s economy and broader society.  These case studies will be featured on STV in the run-up to a special awards event in November.

From Monday 2nd, STV have screened a campaign seeking nominations for The 2018 Summit Entrepreneurship Awards. Nominees are welcomed from every part of Scotland from all types of organisation, including small start-ups and family businesses, expanding corporations, social enterprises and public sector groups.

Entries can be submitted here ahead of the deadline of 16th August 2018.

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About the author

Katy Johnson

Katy is Business for Scotland's Engagement Executive and Events Manager.

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