Road to ADIPEC 4: AI and optimisation
AI is one of the three “megatrends” identified at the recently held ADIPEC, but will it save the world - or doom it, given increased power needs?
AI is one of the three “megatrends” identified at the recently held ADIPEC, but will it save the world - or doom it, given increased power needs?
Allocation Round (AR) 7 may be delayed as a result of various local content requirements, analysts from Cornwall Insight have warned.
The government’s decision to allocate £21.7 billion in funding for the first two Track 1 clusters marks an important step forward for carbon capture and storage in the UK.
“If you needed to redesign all industrial systems such that they inherently capture CO2, at the lowest cost possible, how would you do it?”
Viewed from a challenging UK environment, the Middle East - with its enormous natural resources and supportive regimes - can seem like a utopia. The reality is different.
Top European energy executives have denied backpedaling on the energy transition, in part by pointing to their investments in biofuels.
Talk of the energy transition and the need to decarbonise tends to focus on production, but the other side of the equation - demand - must not be forgotten.
It was a big week for GB’s electricity system with the closure of Ratcliffe. While the country’s goal of zero carbon from power has been accelerated to 2030, longer timeframes clearly give companies - and crucially workers - scope to prepare.
Wood had a rough landing this week, but the big boss reassured Erikka that things are on the turn. A number of suitors have come calling but failed to close, in testament to the company’s attractiveness Ken Gilmartin said.
The rumour mill has kicked into overdrive amid discussion that Repsol is considering the acquisition of NEO Energy, even while politics has overshadowed the energy sector. While some companies are moving away from the North Sea, others are choosing to stick it out, Ryan explains, on the basis that it can’t get any worse.
Wood is considering another offer for the company, from the Middle Eastern Sidara. Such a sale would likely help Wood access new international markets, but the loss of a FTSE250 company based in Aberdeen will be lamented. Given the challenges of the North Sea, is such a move inevitable?
Now that Repsol has settled its spat with Sinopec, the company has admitted it is “reviewing” its structure, with nearly 100 jobs expected to go. It set out plans recently for more activity, striking a slightly unusual tone – and failing to blame the windfall tax, unlike many of its contemporaries.
Saudi Aramco ditched around one third of its jackups this week in a sign that the oil-rich state is demonstration of a move away from some of its grandiose visions. The market remains tight, with South East Asia likely to provide a home for spare capacity. Whether the North Sea, beset by windfall tax woes, can secure some of these newly idle jackups remains to be seen.
At a time when sustainability and financing are becoming increasingly intertwined, making the case to fund oil and gas companies can prove challenging.
For now, the companies are waiting for a development licence. Aminex confirmed to Energy Voice that this “unlocks activity pertaining to the development of the field". This includes drilling production wells or well workovers.
Exploration is not quite the dirty word it was in 2020-21, but appetite remains muted and highly selective.
Reconnaissance Energy Africa has set out plans to wrap up its joint venture process in April and begin drill its next well, in the Damara Fold Belt, in June.
Galp is drilling the Mopane 2 well, but Bank of America has raised concerns over the implied valuation, amid fears of a Namibia bubble.
A black day for the offshore industry, with a helicopter disaster in Norway leaving one dead and five injured. Norwegian companies are reliant on the Sikorsky S-92 but is it safe?
Masdar has a target of reaching 100 GW of power by 2030. To achieve that, the company is seeking a range of opportunities, with the UK hitting the right mix.
It’s rare for disputes between any of the world’s supermajor oil companies to spill out in public. It’s even rarer that one could end up costing $53 billion.
Energean has begun producing gas at Karish North, the company said, while also celebrating the signing of an additional gas sale and purchase agreement.
While the deal is immediately accretive to Vaalco, the FPSO on Baobab will go offline in early 2025 for maintenance and upgrades. It should be back in production in 2026.
Sapura Energy and Norway’s AF Offshore Decom have launched a new decommissioning venture, Kitar Solutions.
The offshore wind industry had been lulled into a false sense of security through cheap money and a deflationary services market, Orsted’s outgoing interim COO Andy Brown said today.