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.
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.
McDermott International faces a claim for “maximum recoverable damages” linked to its failure to complete a contract for BP offshore Mauritania and Senegal.
Russia failed to overturn a ruling in the Netherlands that ordered Moscow to pay around $50 billion in the bankruptcy case of Yukos Oil Co., once the largest Russian oil and gas company.
Onshore operations in Nigeria have long been a challenge for operators, with a laundry list of problems including political challenges, sabotage, bunkering and foreign exchange.
RoyalGate Energy has informed Equatorial Guinea that it intends to begin arbitration over Block Z, alleging “material breaches” from the Ministry of Mines and Hydrocarbons.
Tower Resources is nearing the point where it will begin drilling in Cameroon, but the company has other opportunities it is also pursuing, chairman and CEO Jeremy Asher has highlighted.
“Two or three years ago all you would hear about [from policymakers] was decarbonisation. Now, I think there’s much more balanced conversation around security of supply, affordability and decarbonisation,” Hill said.
"Building on our long-standing strategic partnership with BP, Adnoc looks forward to continue exploring other opportunities as we collectively seek to decarbonise our operations and lead a just and equitable energy transition.”
"The BOP has been checked and tested by the OEM representative on board the rig and declared safe and ready for operations. Island Drilling is evaluating all legal recourse at its disposal to contest the termination."
The move raised questions about Saudi Arabia’s view on future demand as the world shifts toward low-carbon energy, and was also seen as a concession there’s adequate oil supply from competitors including US shale producers.