The North Sea oil industry, greatly developed since its discovery in the 1960s, continues to made a significant mark on the town.

North Sea oil was first discovered in 1970, some 100 miles NE of Peterhead by 1975 the first North Sea oil (from the Argyll Field) was being pumped ashore just to the south of Peterhead.

North Sea oil continues to come ashore to the south of the town, at Cruden Bay, whilst North Sea gas is brought ashore at St Fergus immediately to the north. The ASCO North Base and South Base located within Peterhead Bay make up the largest fully integrated oil service base in the world.

Peterhead has the rather dubious privilege of having the last Convict Prison to be built in the UK. The prison dates from 1886 and at the time it was largely built by the prisoners themselves; they also had to build the railway that served the quarry for the prison construction as well as for the south breakwater to Peterhead Bay - although this breakwater was not actually finished until 1963 - long after the end of use of prison labour!

Another brief but very important industry developed throughout the 18th and 19th centuries was that of granite. Although the granite industry is no more in Peterhead the beautiful colouring of the local granite can still be seen in many buildings throughout the area, and far beyond. Peterhead granite, for example, was used extensively for the construction of Australia House, Southwark Bridge, the Stock Exchange, the Foreign Office and Covent Garden. Famous Victorian engineers such as Thomas Telford and John Rennie were particularly enthusiastic in the use of Peterhead granite. (Telford designed and built Peterhead's North Harbour.)

The granite was not only quarried here in Peterhead but much of it was also polished and carved at one of the two major granite works in the town before being taken out by train.

Finally an article on Peterhead cannot conclude without mention of golf. Peterhead's Golf Club was formed in 1841 and is the 18th oldest golf club in the world and until 1925 (when a footbridge was constructed) it could only be accessed by passenger ferry across the River Ugie.