Oil dips with dollar rising as rally takes a breather
Oil edged lower as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months.
U.S. labels Houthis terrorists after attacks on oil tankers
The U.S. has classified Yemen’s Houthis as a foreign terrorist organization following a series of attacks on oil tankers in the Red Sea and as Washington seeks to increase pressure on Iran in the final days of Donald Trump’s presidency.
CCS branded ‘dangerous distraction’ after report questions technology’s practical use
Environmental campaigners have branded carbon capture and storage (CCS) a “dangerous distraction” from the urgent need to decarbonise the energy sector.
UK Government to hold North Sea industry’s ‘feet to the fire’ over decarbonisation targets
The UK’s energy minister has reinforced that support for North Sea oil and gas is reliant on the sector “playing ball” in terms of decarbonisation.
PM makes Alok Sharma full-time Cop26 president to ramp up conference presentation
Alok Sharma has been appointed by the Prime Minister to be the full-time president of the UN Cop26 climate conference, with Kwasi Kwarteng promoted to Business Secretary.
Brent oil hits $55 with Saudi cuts adding fuel to vaccine rally
Brent oil topped $55 a barrel for the first time since February as gains in broader markets added to investor optimism already buoyed by Saudi Arabia’s unilateral plan to cut output.
Hebridean distillery, endorsed by Hollywood star, to explore using hydrogen in production of whisky
A UK-based renewables services firm has received more than £70,000 in funding to assess the possibility of using hydrogen in the production of whisky.
Financial benefits of spinning off renewables assets misses wider decarbonisation issue, warns HSBC
Europe’s oil and gas majors could access a wide pool of investors and “unlock value” by spinning off their renewables assets in initial public offerings (IPOs).
Enel, Qatar’s sovereign fund to develop renewables in Africa
Enel SpA has signed a joint venture agreement with Qatar Investment Authority, the Middle East nation’s sovereign wealth fund, to own and develop renewable energy projects in Africa.
TechnipFMC to construct and test offshore green hydrogen production system
TechnipFMC will lead a consortium made up of some of the biggest names in renewables to construct and test its new offshore green hydrogen production system.
Disused Irish Sea gas platforms to be removed by world’s largest vessel
A pair of disused gas installations in Morecambe Bay are to be removed by the largest vessel in the world this year.
Hydrogen production unlikely to become subsidy free without initial government support warns Edison Group
Hydrogen produced from renewable sources is expected to be the key component needed to decarbonise the final 20% of global energy consumption.
European renewables firms announce intention to develop floating offshore wind in Scottish waters
Two of Europe's leading renewable energy developers have announced plans to team up in order to “unlock the potential” of floating offshore wind in Scotland.
Oil rises with U.S. supply decline compounding Saudi output cut
Oil advanced as shrinking U.S. crude inventories added to expectations of a tighter global supply outlook after Saudi Arabia surprised markets by pledging to slice production the next two months.
Watchdog identifies ‘serious breaches’ of safety on Equinor platform
Norway’s offshore health and safety watchdog has identified several “serious breaches” on board one of Equinor’s North Sea platforms.
Oilfield services firm McDermott International secures £410m of new capital
Oilfield services provider McDermott International has secured more than half a billion dollars in new capital.
Oil prices steady after surging on surprise Saudi output cut
Oil steadied in Asia after surging to a 10-month high on Saudi Arabia’s pledge to cut an extra 1 million barrels a day of crude output in February and March as a rampant coronavirus leads to more lockdowns.
NECCUS funding award could ‘realise the ambition’ of north-east’s low carbon initiatives
It’s hoped the award of more than a million pounds to a Scottish decarbonisation group could help to “realise the ambition” of energy transition initiatives in the north-east.
Ffolkes Offshore reveals fivefold increase in crew change costs arising from Covid-19
An Aberdeen-headquartered shipping agency has revealed that crew change costs rose fivefold last year due to complications caused by Covid-19 restrictions.
Trafigura got $7bn Russian loan for Arctic Oil Deal
Trafigura Group’s purchase of a stake in Rosneft PJSC’s flagship Arctic oil project was funded by a $7 billion loan organized by a Russian bank, according to documents that shed new light on the trading house’s biggest-ever deal.
Oil gains on signs OPEC+ is nearing consensus on oil output plan
Oil’s rally accelerated on signs that OPEC+ was nearing a consensus that would keep oil output steady next month.
Ashtead Technology appoints new CFO as part of ‘strategic growth plans’
Subsea services firm Ashtead Technology has announced an expansion to its management team as part of efforts to “cement its position” at the forefront of the global offshore energy market.
Ørsted’s Hornsea Two development takes ‘significant’ step forward
Ørsted has ticked off a “major milestone” in the development of what will become the “world’s largest” offshore wind farm.
Social and Sustainable Capital launches renewables investment committee, announces first appointments
Fund manager Social and Sustainable Capital (SASC) has announced plans to establish a dedicated renewables investment committee and has revealed its first two members.
NECCUS gets £1.23m to develop emissions reduction roadmap with Shell, Chrysaor involved
A Scottish decarbonisation group has been successful in its bid to secure more than a million pounds to draw up an industrial emissions reduction roadmap.