The loss of Russian gas supplies has led to a supply deficit in Europe which is likely to last over the coming three to four years and sustain higher gas prices. To avoid the long-term deindustrialization of Europe and the impoverishment of millions of citizens, Europe needs an energy security plan that looks beyond public support, energy savings and renewable electrification only.
Targets are signals, demonstrating ambition. They aim to drive investment and convey a long-term vision for the betterment of the country.
The supposed dying days of oil and gas have been surprisingly profitable, but not necessarily investible. The energy market has been tossed up and down, first by the COVID-19 pandemic and now, in 2022, by the war in Ukraine.
When asked to put together my reflections of the year gone and predictions for the year to come, I felt depressed. The line, “you couldn’t make this up” was foremost in my mind - no festive cheer I’m afraid, it is a depressing picture.
The year 2022 will go down as one of the most turbulent in the history of the UK Continental Shelf (UKCS).
The UK North Sea saw little bounce back in activity following the 2020-21 ‘Covid low’, with only the M&A space staying buoyant.
The energy trilemma of energy security, energy affordability, and energy sustainability can seem an impossible balance. At Apollo we want to achieve a sustainable, decarbonised future – for the industry, for the planet, and for everyone. We know it’s not enough to just talk about sustainable energy. Technology. Practical solutions. Innovation. It's that mix that will make it happen. It's complex, but that’s what we’re good at in Apollo!
In late 2022, I attended the World Energy Capital Assembly in London, where leading energy executives, financiers and investors gather to look at the future of the oil and gas industry. Coming at the tail end of a year largely characterised by doom and gloom – war, and political and economic uncertainty – it offered a chance to gauge the mood of the sector.
From truly flexible working to Spanish vineyards… does this sound like the working life for you? Land seismic technology company STRYDE certainly thinks so.
As we enter a new year, the need to move at pace towards a more integrated energy system and workforce is of huge importance if we are to turn the ambition of decarbonisation and the green economy into a reality.
In 2015, we set the goal of limiting global warming to less than 1.5 degrees Celsius. However, the latest UNFCCC estimates show that we are far exceeding this limit.
As 2022 draws to a close, the offshore wind sector in the UK stands at a hugely important inflection point, as we both acknowledge the remarkable story of success we’ve seen, but also consider the innovative solutions needed if we are to meet the challenges ahead.
2022 has been a massive year for the energy sector, and I don’t say that lightly. It is an industry founded on commercial and technical ingenuity. An industry which repeatedly rises to the challenge. The most recent challenge is the balancing act between energy security, climate change, social justice and the rising cost of living on the global agenda.
The continent’s two biggest oil producing nations have made recent reforms to their upstream regulatory regimes, which were been long awaited and the changes largely well received.
Hydrogen UK share what to watch in the hydrogen sector in the coming 12 months.
The UK is going through a transition that will transform today’s energy system, writes DNV's Hari Vamadevan, but not sufficient to meet its 2050 Net Zero emissions commitments
All aspects of renewable electricity generation in the UK are currently affected by policy uncertainty. The UK government’s stated policy goals are to decarbonise electricity generation through increased deployment of offshore wind, carbon capture utilisation and storage, hydrogen and nuclear.
We are heading into another challenging 12 months for the energy sector. The impact of the coronavirus pandemic, shrinking economies, severe weather events and geopolitical shocks, namely Russian’s invasion and occupation of Ukraine, are being felt keenly.
2022 brought a huge amount of turbulence: from the energy crisis triggered by war in Ukraine to legislative U-turns and windfall tax increases creating uncertainty over investments in the North Sea.
What are ‘historically more normal prices’? Through 2022 the Brent oil price averaged about $100 a barrel (bbl), up around 40% on 2021. This follows a volatile 12 months where prices started the year at $78/bbl, reaching a peak of $130/bbl in March following Russia’s invasion of Ukraine.
The former oil and gas business giant says the windfall tax "must be revisited as a priority".
Global Underwater Hub CEO Neil Gordon says the subsea sector needs clearer visibility on major projects in wind, oil and gas and defence.
2022 has been a year of challenge with the effects of the Covid-19 pandemic still impacting markets and the war in Ukraine affecting so many. Consequences of such a tumultuous year include the energy supply crisis, the fluctuation in commodity prices, the cost-of-living crisis and the onset of recession, which are all inextricably linked.
By Fiona Duggan, policy lead at climate solutions charity, Ashden
How is the North Sea supply chain being supported, amid concerns over crippling costs and poor visibility on opportunties?