8 Rivers sets out four technology aces to bridge carbon gap
“If you needed to redesign all industrial systems such that they inherently capture CO2, at the lowest cost possible, how would you do it?”
‘Rethink everything’ to crack Middle East energy markets
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.
Shell, BP CEOs defend transition strategy with biofuel highlight
Top European energy executives have denied backpedaling on the energy transition, in part by pointing to their investments in biofuels.
Road to ADIPEC 1: Mobilising finance
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.
EVOL: King coal, carbon capture and the wind of change
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.
EVOL: Wooing Wood, making bank and CCS support
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.
EVOL: Repsol ponders, Prax strikes and a biofuel pause
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.
EVOL: Wood on the move, electoral turmoil and volcano drilling
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?
EVOL: Redundancies, champions and a touch of glamour
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.
EVOL: Aramco dips, another Pemex disaster and Harbour vs cigs
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.
Bapco scores sustainability marks to finance transformation
At a time when sustainability and financing are becoming increasingly intertwined, making the case to fund oil and gas companies can prove challenging.
Aminex scales up gas hopes on seismic, eyes drilling plans
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.
Under fire, exploration drilling fights for its corner
Exploration is not quite the dirty word it was in 2020-21, but appetite remains muted and highly selective.
ReconAfrica sets sights on Damara drilling for June
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.
Is Galp’s Mopane discovery overblown?
Galp is drilling the Mopane 2 well, but Bank of America has raised concerns over the implied valuation, amid fears of a Namibia bubble.
Helicopter tragedy, Orsted’s rethink and the geoscience crunch
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 completes deal, marking UK’s importance to grand target
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.
Exxon plays hardball with Chevron to hoard Guyana’s oil riches
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 starts up Karish North, signs new gas deal
Energean has begun producing gas at Karish North, the company said, while also celebrating the signing of an additional gas sale and purchase agreement.
Vaalco strikes for Svenska in move into Cote d’Ivoire
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.
AF Offshore Decom teams up with Sapura in APAC entry
Sapura Energy and Norway’s AF Offshore Decom have launched a new decommissioning venture, Kitar Solutions.
Orsted seeks new equilibrium, outgoing COO Brown states
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.
Miliband calls out government failures, pledges just transition
The government is guilty of “sluggish decision making”, Ed Miliband, shadow Secretary of State for Energy Security and Net Zero, said this morning, setting out some plans for a change of pace under a potential Labour administration.
UK tracks off course for net zero, DNV warns
The UK has made impressive ground in its efforts to remove carbon from its energy system. As the country closes in on 2050, it will become harder – and is currently off course to achieve net zero, according to DNV.
BP files for “maximum” damages from McDermott
McDermott International faces a claim for “maximum recoverable damages” linked to its failure to complete a contract for BP offshore Mauritania and Senegal.