Rig and well control equipment assurance specialist ModuSpec has secured several projects valued at around $750,000 to support clients with the intake and acceptance of deepwater drillships.

The work covers five rigs: two drillships currently operating in the US Gulf of Mexico and three in the Mediterranean, all being assessed for potential future deployment in West and Southern Africa as well as in the Mediterranean Sea.

For the two Gulf of Mexico drillships, a multi-disciplinary ModuSpec team will assess critical rig equipment — well control, drilling, marine and station keeping systems — to support the operator’s selection process.

One of the Mediterranean drillships has already secured a contract for a multi-well exploration campaign commencing in Q4 2026. ModuSpec has been contracted to deliver a comprehensive intake programme verifying that the equipment is operationally ready for deepwater operations and compliant with client internal standards and international regulations.

Most of the units will be deployed for exploration and development operations. One rig is specifically being assessed for well intervention operations.

Mark Watson, Regional Director at ModuSpec, said: “Clients continue to engage ModuSpec for deepwater campaigns, because of our ability to support the rig intake process from the selection phase through to contract award and final acceptance.

“Every project is customised to meet the client’s specific requirements, combining technical expertise with a practical approach that goes well beyond a traditional rig inspection.”

ModuSpec Ltd is registered in Westhill, Aberdeenshire where its Europe, Africa and Middle East operational team is based alongside the Well Academy training facility at Arnhall Business Park. The company has been in business since 1988 and was sold by Vysus Group to Singapore-headquartered MR Group in March 2024.

Hardies Chartered Surveyors has acquired the Glasgow-based Storrier & Donaldson Quantity Surveying practice in a private deal, strengthening its cost management offering across Glasgow and the west of Scotland.

Under the terms of the acquisition, Storrier & Donaldson owner Robert Currie joins Hardies as Consultant Partner. His team relocates to the Glasgow city centre offices of affiliated chartered surveying firms Shepherd and Hardies. The deal value was not disclosed.

Storrier & Donaldson was founded more than 50 years ago and has built a book of Quantity Surveying and Cost Management work across both public and private sector projects in the UK. Its public sector portfolio includes hospital ward refurbishments, public libraries, golf courses and major capital framework projects. Private sector work has ranged from bespoke family homes to large-scale commercial developments.

Currie’s team brings experience of multi-disciplinary design teams working on conservation, refurbishment and new-build projects, including historical and listed buildings and developments involving multiple funding streams — a set of specialisms that sits alongside Hardies’ existing surveying business rather than duplicating it.

Douglas Smith, Managing Partner at Hardies Chartered Surveyors, said: “This acquisition represents another important milestone in our growth strategy, bringing together two businesses with shared values, complementary expertise and a commitment to delivering exceptional client service.

“By combining our strengths, we will expand the range and scale of projects we can undertake while further enhancing the specialist services we provide to clients across Scotland and the wider UK.”

Robert Currie said: “We are delighted to become part of Hardies and bring with us extensive experience of working within multi-disciplinary design teams on conservation, refurbishment and new-build projects.

“Our expertise spans historical and listed buildings, as well as complex developments involving multiple funding streams. We look forward to continuing to provide robust cost management advice, helping clients and project teams achieve their financial objectives as part of the Hardies business.”

Ian Fergusson, Senior Partner at Shepherd and Hardies, said the deal “is strategically significant for our business and will substantially strengthen our Quantity Surveying and Cost Management offering across Glasgow and the west of Scotland.”

He added: “It reflects our ongoing commitment to growth and investment, while enhancing our ability to support clients with specialist expertise throughout the UK. We are delighted to welcome Robert and his team to Hardies and look forward to building on the strong reputation and relationships they have established over many years.”

Highland Council has granted planning permission to Protium for the Cromarty Green Hydrogen Production Facility (CGHPF), a 15MW green hydrogen electrolysis plant in Alness, near Inverness. The decision, taken by the north planning committee on Wednesday 5 August 2026, clears the way for the first stage of what Protium calls the Highland Hydrogen Hub.

The site — approximately 12km north of Alness, near Edderton — sits east of the operational Beinn Tharsuinn Wind Farm.

What was approved

The project comprises a 15MW hydrogen production and storage facility with a hydrogen purification plant, hydrogen and oxygen processing plant, and compression and cooling equipment, along with associated infrastructure. It is designed to convert locally generated renewable electricity into green hydrogen.

The Cromarty project is the only hydrogen project in Scotland to secure support under the UK Government’s Hydrogen Allocation Round 1 (HAR1) via a contract for difference — an award administered by the Department for Energy Security and Net Zero (DESNZ).

At peak output, the 15MW electrolyser capacity is expected to produce approximately 7 tonnes of green hydrogen per day.

Company view

Kim McCann, Chief Commercial Officer at Protium, speaking after the planning committee decision:

“We view ourselves as long-term partners in the Highland economy.

“This planning approval is a huge vote of confidence in our approach: producing Highland green energy for Highland use. By turning the region’s natural wind wealth into a local asset, Cromarty will build energy independence, reduce reliance on global fuel markets, and catalyse long-term economic growth.”

Jobs, offtake and community benefits

Protium says phase 1 of the Cromarty project is expected to create around 30 permanent green-collar jobs and apprenticeships in the local area, alongside contracting roles during construction.

Hydrogen produced at the plant is targeted at industrial heat and power customers in off-grid locations across the Highlands and Aberdeenshire — sectors currently difficult to electrify, including heavy transport and regional industry. No firm offtake agreements have yet been announced.

Alongside the planning approval, Protium has outlined a Community Benefits Scheme built around four pillars: employment and fair work, local procurement, community funding, and educational outreach. The educational strand includes STEM workshops, site visits, and green skills programmes for local schools, colleges and universities.

Route to construction

Protium acquired the Cromarty project from Storegga in May 2026, following the earlier withdrawal of co-developer Scottish Power. The company retained the HAR1 contract for difference through the change in ownership.

In June 2026, Protium entered a strategic partnership with electrolyser manufacturer ITM Power to jointly develop and operate industrial-scale green hydrogen production plants across the UK, with Cromarty as the immediate focus. Under the partnership, Protium leads power procurement, permitting, downstream infrastructure and hydrogen distribution, while ITM Power is expected to supply 15MW of electrolysers.

A Final Investment Decision (FID) for the Cromarty project is targeted for December 2026. Construction timelines and further community engagement updates are still to be announced.

Context: not without opposition

The planning committee vote was not unanimous, with some councillors questioning the greenfield location. Ten public objections were lodged during the planning process, raising concerns about impacts on local roads, traffic and residents’ private water supply.

Protium’s operational track record to date rests on two Welsh facilities: Pioneer 1, operational since 2023 with commercial hydrogen deliveries completed; and Pioneer 2, a 2.5MW facility in South Wales that achieved first gas earlier in 2026 and is transitioning into commercial operations, capable of producing one tonne of green hydrogen per day.

CB&I Asset Solutions has signed a 10-year lease on Caledonia House at Prime Four Business Park in Kingswells, taking more than 103,000 sq ft of grade A space in what the landlord, Drum Property Group, calls the largest office deal in Aberdeen since 2017.

The tenant is the North Sea business bought out of the Petrofac administration in April. It will move from Bridge View in the city centre in the fourth quarter of this year. Drum says the decision followed a full review of the Bridge View accommodation, which found Prime Four better on both cost and workplace quality. On the landlord’s account, then, the move is expected to cut the property bill as well as upgrade the space.

Drum bought Caledonia House back at the same time as it signed the tenant, in a building it knows well: Drum built it in 2012, in the opening phase of the Prime Four development, and sold it the same year. Caledonia House is currently occupied by Apache North Sea, which vacates at the end of August.

Two things make this more than a routine letting. A ten-year commitment on a six-figure square footage is a long-range vote of confidence in Aberdeen from a business whose parent appointed administrators last year — around 3,000 staff transferred to CB&I when the acquisition completed. And the building changes hands between energy occupiers without a void, which in a market that has spent a decade working through surplus space is a meaningful signal.

Graeme Bone, group managing director of Drum, said bringing the building back into ownership and securing the tenant on a long-term lease “reflects a belief in the long-term fundamentals of the market, as well as the continued attractiveness of well-located, high-quality office space at such a strategic location.” He added: “Aberdeen continues to show resilience and opportunity as a regional economic centre, and Prime Four remains a flagship development for Drum.”

John Pearson, chief operating officer of CB&I Asset Solutions, said the relocation “signifies a transformative step forward for the organisation, delivering meaningful financial efficiencies while offering state-of-the-art amenities.” He said the new premises were designed “to foster a more collaborative and fulfilling working environment”.

The move follows a run of work won since the takeover. CB&I has been engaged on EnQuest’s Kittiwake platform through its decommissioning, and has won a United Arab Emirates contract with Cosmo E&P Albahriya covering Offshore Block 4. No job losses have been announced in connection with the relocation, and neither party has disclosed the rent.

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BP has launched a formal process to market its UK North Sea business for a potential sale, and Aberdeen & Grampian Chamber of Commerce has responded by putting the decision squarely at the door of Downing Street.

In a statement issued on 31 July, BP said the move “forms part of bp’s ongoing portfolio review” and reflects “its disciplined approach to capital allocation”. Chief executive Meg O’Neill said the North Sea “remains integral to the UK’s energy system”, but added: “As we focus our portfolio and direct capital to our highest-value opportunities, we believe our North Sea business will be better positioned as part of another company.” O’Neill framed the sale as an opportunity to attract “an owner ready to back its next chapter”, and said BP would continue to operate the business “safely and reliably” throughout the process.

BP’s own language is corporate and neutral. It makes no reference to UK taxation, licensing policy or the investment climate. It lists no hubs, no headcount and no production numbers. The reaction from Aberdeen & Grampian Chamber of Commerce (AGCC) filled in the parts the company chose to leave out.

Russell Borthwick, chief executive of AGCC, called the announcement “a defining moment for the new Prime Minister” and asked “how many more jobs need to be lost before the UK Government acts?” He said confidence in the UK Continental Shelf had been “badly shaken after years of policy uncertainty, punitive taxation and mixed messages about the future of the industry.”

Borthwick set out a specific policy ask. He said Prime Minister Andy Burnham should deliver on the commitment to replace the Energy Profits Levy with the Oil & Gas Revenue Levy — a permanent windfall-tax mechanism that would apply when prices are high — “well before 2030”, and said the UK needed “a stable, long-term fiscal regime” and a regulatory system capable of approving investment “at the pace required.”

The commercial context makes the political ask sharp. BP’s business is one of the last major integrated operations in the basin, and its departure follows a run of consolidation among independents. The North Sea, in Borthwick’s words, “remains one of the UK’s greatest strategic assets. It underpins our energy security, supports hundreds of thousands of skilled jobs and generates billions for the public finances. But unless investors have confidence that Britain is open for business, more capital, more jobs and more expertise will continue to leave.”

The Chamber was careful to frame its position as pragmatic rather than partisan. “Industry is not asking for special treatment,” Borthwick said. “It is asking for certainty, stability and a policy framework that recognises the continued importance of domestic oil and gas while we build the energy system of the future.” These comments are made against a background of years of government neglect both north and south of the border that have resulted in the accelerated decline of the Oil and Gas Industry. The single-minded pursuit, regardless of cost, of Net Zero by successive UK governments and Scottish Governments, combined with a punitive windfall-tax regime, ignored a basic fact of corporate life: oil majors have a global menu of investment options, and they will choose whichever offers the best risk-adjusted return. An environment offering lower returns than competing basins, alongside sustained political resistance to new development, was always going to push capital elsewhere. And the effect of that on the Scottish economy and the NE in particular is deeply significant.

Three things follow from the day’s announcements. First, BP’s exit does not automatically remove production or jobs — a buyer could keep operations running — but it removes the last of the global majors as a long-term Aberdeen employer, which changes the city’s employment base regardless of who takes over. Second, the identity and financial strength of the eventual buyer matters more than the headline sale price: a well-capitalised operator willing to invest in the remaining long-life assets is a very different outcome from a financial buyer running the fields for cash. Third, AGCC has moved the conversation onto specific fiscal ground — the timing of the Oil & Gas Revenue Levy — giving the new Prime Minister a concrete test to respond to rather than a general appeal for support.

Energy Secretary Miatta Fahnbulleh has confirmed she is in close contact with BP over the sale process. First Minister John Swinney said the announcement meant “a time of real uncertainty for workers” in the north-east. Both statements leave the substantive fiscal decision the Chamber is pressing for still open.

Glasgow’s Commonwealth Games closed at the OVO Hydro on Sunday evening, ending an 11-day event that Glasgow Chamber of Commerce says has demonstrated the city’s capacity to stage a global sporting event on a leaner, privately funded model.

The 2026 Games were delivered by Glasgow 2026 Limited, the private Organising Company established after the Australian state of Victoria withdrew from hosting in 2023 citing escalating costs. The event ran without direct Scottish or UK Government funding, backed instead by the Commonwealth Games Federation with support from Commonwealth Games Australia. It brought 3,000 athletes from 74 nations across ten sports and four Glasgow venues, all powered by renewable energy.

The BBC reported that organisers said more than 430,000 tickets were sold across the 11 days of competition, and that over 200,000 additional visitors flocked to the city’s West End. According to Glasgow 2026 chief executive Phil Batty, netball at the Hydro sold 100,000 tickets and became the most-attended sport of the Games. First Minister John Swinney described Scotland’s fifth-placed finish in the medal table — 39 medals, behind Australia’s 171, England’s 110, and both Canada and India — as “truly historic.”

Stuart Patrick, chief executive of Glasgow Chamber of Commerce, said: “The Glasgow 2026 Organising Company took on a Commonwealth Games at record speed, on a leaner privately funded model and delivered it in full. This was a significant achievement, and it tells every investor and event organiser watching that Glasgow can stage a global event and do it well. Congratulations to the whole team, and to the volunteers, athletes and venues who brought the city to life over 11 days. The value of this will show in the visitors, investment and event bids Glasgow secures in the years ahead.”

The delivery model itself is likely to be examined closely by future event hosts. The Organising Company retained governance and strategic control while embedding its Official Event Delivery Partner, Trivandi, directly into operational planning, venue management, transport and spectator services. Trivandi’s workforce for the Games was around 250, with the majority drawn from Glasgow and the surrounding area.

Ahead of the Games, the Scottish Government forecast an economic benefit of more than £150 million to the region. That figure is smaller than the 2014 Glasgow Games, which recorded £176 million in visitor expenditure and contributed an estimated £124 million of Gross Value Added to the Scottish economy according to the official post-Games visitor study. The 2026 event was expressly designed on a reduced budget and timeline, and the £150 million pre-event forecast reflects that.

A formal post-Games economic impact study is expected in the coming months. The residual question for the Chamber’s members is how far the Games’ delivery translates into the visitor bookings, corporate investment decisions and future event bids the city will secure in the year ahead.

Organisers of the North of Scotland Trades Awards have reported a record number of applications for the 2026 edition of the sector’s regional event, with entries confirmed across fourteen competitive categories ahead of the ceremony in October.

Now in its 14th year and sponsored by WM Donald, the Trades Awards is one of the region’s established construction industry events, bringing together around four hundred guests annually at a black-tie evening at Ardoe House Hotel in Aberdeen. This year’s finalists were announced on 31 July, with the winners set to be revealed on Friday 30 October.

Organisers say the volume of entries reflects continued activity in the North-east construction sector, with applications drawn from businesses of a range of sizes and from individuals at various stages of their careers. The finalists span fourteen competitive categories, from Apprentice of the Year and Rising Star through Tradesperson, Site Manager, Construction Supplier and Construction Company of the Year, up to Construction Project of the Year.

A new Inspiring Women in Construction category has also been introduced for the 2026 edition, recognising the contribution women are making across the industry. According to the organisers, the category attracted the highest number of individual applications received for a single Trades Awards category since the event’s launch.

Speaking on behalf of the organisers, Mike Wilson, Managing Director of Mearns & Gill, said: “Receiving the highest number of applications in more than ten years is fantastic news, but what excites us most is what those entries represent.

“Every application tells a different story. From apprentices taking their first steps in the industry to major projects delivered by teams of hundreds, each one reflects the passion, commitment and professionalism that exists across construction in the North of Scotland.

“The Trades Awards has always been about giving people the recognition they deserve. Seeing so many businesses take the time to celebrate their teams and achievements is exactly what these awards are all about, and we’re incredibly grateful to everyone who entered.”

Elaine Donald, Director at WM Donald and main sponsor of the Trades Awards, said: “Construction shapes the places where we live, work and spend time with our families, but it’s the people behind those projects who make that possible.

“At WM Donald, we’re proud to support an event that celebrates every part of our industry, from those just beginning their careers through to the experienced professionals who continue to mentor, innovate and inspire the next generation.

“The quality and variety of this year’s finalists demonstrates just how much talent we have across the North of Scotland. Congratulations to everyone who has been shortlisted. We look forward to celebrating your achievements together at Ardoe House Hotel in October.”

Finalists in the Construction Project of the Year category, sponsored by KR Group, include Chap’s Skylark development at The Marcliffe and its Craighill Affordable Housing scheme, alongside Ogilvie’s Netheranden Residential Development and its Stoneywood Complex Care Facility. An Outstanding Contribution Award, chosen by the judging panel, will also be presented on the night.

Proceeds from the 2026 ceremony will support the Russell Anderson Foundation, which works to improve the mental health and wellbeing of young people and families across the North-east of Scotland.

The full 2026 shortlist and further information on the ceremony is available at www.tradesawards.com.

Confidence among Scotland’s private businesses has fallen sharply through the first half of 2026, but firms are responding by backing themselves rather than pulling back, according to the latest edition of KPMG UK’s annual Private Enterprise Barometer.

The research, which revisits the same Scottish businesses surveyed at the start of the year, shows that confidence in delivering growth over the next 12 months has fallen from 87 per cent at the beginning of 2026 to 68 per cent at the mid-year point. The dip reflects a challenging six months for the UK and global economy, marked by instability in global energy markets, persistent inflation and continuing trade restrictions.

Despite the softer sentiment, investment intent has held up. Technology remains the leading investment priority for Scottish businesses, with 44 per cent identifying areas such as artificial intelligence, cyber security and broader digital transformation as key focuses — a six-percentage-point increase on the position at the start of the year, though still 22 points below the UK average. Diversification is also firmly on the agenda, with 52 per cent of Scottish businesses looking to expand their service offerings and broaden their client base, down from 63 per cent at the start of 2026.

The most striking shift is in how Scottish firms plan to fund the growth they are still pursuing. Nearly six in 10 (59 per cent) say they are looking to invest through their own balance sheets — above the UK average of 57 per cent, and only two points below where the figure stood at the start of the year. Around a third (30 per cent) remain open to private equity investment.

Vishal Chopra, Scotland Senior Partner at KPMG UK, said: “Scotland’s private businesses are proving resilient and are taking a pragmatic approach to the current economic environment. While confidence has eased slightly as firms continue to navigate inflation and global uncertainty, the ambition to grow remains clear.

“What’s particularly striking is that more businesses are choosing to back themselves. Rather than looking outside for funding, many are relying on their own balance sheets to invest and grow, giving them greater control at a time when the economic outlook remains uncertain.

“Now that the Scottish Parliament elections have passed, businesses will be looking for that renewed political focus to translate into greater economic certainty with a clear commitment to creating the conditions for investment and giving businesses the confidence to plan for long-term growth.”

Looking to the Autumn Budget, 37 per cent of Scottish businesses said they wanted to see growth-focused investment, industrial strategy, and business profitability and competitiveness prioritised by the incoming Chancellor. Inflation and cost pressures, and global disruption to UK supply chains and trade, were identified by 55 per cent as the two biggest short-term risks. Fifty per cent pointed to the UK economic outlook and productivity growth as the single biggest external factor shaping their investment, growth and exit planning.

KPMG’s Barometer was conducted by One Poll among 1,500 UK private business owners between 22 May and 10 June 2026, including 119 in Scotland.

Coatbridge-based Galino Limited, a manufacturer of fasteners and machine-screw products in business for 45 years, has been placed into administration, with all 12 staff made redundant. David McGinness and Judith Howson of AAB Business & Tax Advisory have been appointed joint administrators.

Administrator David McGinness said the business ceased to trade on appointment and that a small number of former employees would help the administrators for a short period. Creditors, employees, customers and other affected parties would be contacted directly.

The collapse sits against a broader Scottish insolvency picture that has softened but remains elevated. Accountant in Bankruptcy figures show 240 corporate insolvencies in Scotland in the second quarter of 2026, down 27.7% year on year from 332, with compulsory liquidations falling from 167 to 97.

Blair Milne, corporate insolvency partner at Azets in Glasgow, said the fall in corporate insolvencies was encouraging but should not be read as evidence that pressure on Scottish businesses had eased. Insolvency activity remained elevated by historic standards, he said, and many companies continued to trade in difficult conditions.

About Administration

Administration is a formal insolvency procedure under the Insolvency Act 1986 (as substantially amended by the Enterprise Act 2002, which inserted Schedule B1) that applies across the United Kingdom, including Scotland. When a company enters administration, control passes from its directors to a licensed insolvency practitioner — the administrator — who must act in the interests of the creditors as a whole. The administrator’s statutory purpose, set out in Schedule B1, is to pursue three hierarchical objectives: first, to rescue the company as a going concern; failing that, to achieve a better result for creditors than would be likely in an immediate liquidation, often by selling the business and assets as a going concern; and only if neither is reasonably practicable, to realise the company’s property to make a distribution to secured or preferential creditors. On appointment, a statutory moratorium takes effect, halting most legal actions and enforcement against the company and giving the administrator breathing space to trade the business, market it for sale, or wind down operations in an orderly way. In the Galino case, the joint administrators from AAB Business & Tax Advisory ceased trading on appointment and made the workforce redundant, which typically indicates that a going-concern rescue may not viable and the process will focus on realising remaining assets for creditors

Administration is, by insolvency-law standards, a relatively young procedure. The Insolvency Act 1986 received Royal Assent on 25 July 1986, and Part II — the administration-order regime — came into force on 29 December 1986 alongside the Insolvency Rules 1986 (legislation.gov.uk). One of the very first companies to enter the new procedure was Aberdeen-based regional carrier Air Ecosse, placed into administration in January 1987, within weeks of the regime becoming available. The airline traded on under administration before its assets were acquired and the business revived in March 1989 as Aberdeen Airways under the directorship of Mike Hornblower — an early practical demonstration of what the Cork Report and the 1986 Act had set out to enable: the rescue of a viable business as a going concern, and the preservation of skilled aviation jobs in the north-east of Scotland, rather than an immediate winding-up

Scotland’s financial and professional services sector has added around 21,000 jobs since 2023, taking total employment to about 157,000, according to a five-year strategy midpoint update from Scottish Financial Enterprise (SFE). The update, published to mark SFE’s 40th anniversary, records 15% employment growth over the period.

The sector’s gross value added has risen from £14.3bn at the launch of SFE’s growth strategy to £17.7bn, while exports have grown 16% to £12bn. Foreign direct investment projects in Scottish financial services have increased from eight to 11 a year since 2023, and legal and professional services have expanded alongside the financial cluster (Herald Scotland; SFE news feed).sfe.org+1

Scotland’s international standing in the sector has also strengthened. Edinburgh has climbed from 34th to 28th in the Global Financial Centres Index, and Glasgow from 51st to 43rd. Scotland remains the largest fintech hub outside London, with 226 firms attracting £2.86bn of investment over the past eight years.

SFE chief executive Sandy Begbie called on both the UK and Scottish governments for policy stability so the sector can accelerate rather than merely sustain growth. Scotland’s Economy Secretary Stephen Flynn described financial services as “a major contributor to the country’s economy”.

SFE also pointed to progress on financial inclusion, with the share of unbanked adults in Scotland falling from 3% to 2%, and to a pilot scheme aiming to ensure every school leaver in Scotland has access to a bank account.