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?
Recent political tensions have put a spotlight on the UK’s heavy reliance on fossil fuels, highlighting the necessity to transition to clean, renewable energy. Energy companies must innovate the sector and build a greener energy system.
Unlike hydrocarbons, which produce carbon dioxide, heat and water when combusted in the presence of oxygen, hydrogen produces only heat and water. As we seek to decarbonise the UK’s energy sector one of the paths that is being explored is the use of hydrogen within a grid connected gas fired power plant in the UK.
As we come to the end of another year, it seems 2022 has been one that has gone full speed, with so many people sharing it’s as if the year has been condensed.
Driven by society’s need to tackle climate change, renewable energy-based power generation is growing exponentially worldwide and especially in Europe where wind power alone now accounts for around 16% of capacity.
We were invited to the world premiere of The Rig – Amazon Prime’s new tv show set in the North Sea. We’ve tried to keep the following spoiler-free as possible but proceed at your own risk.
In looking back at 2022, it is hard to overstate some of the significant developments affecting the oil and gas industry.
Without putting too fine a point on it 2022 has been a disaster for pretty much everyone who didn’t run a hedge fund, is a shareholder in an oil and gas or other energy company or works in a bank and is due a bonus.
Since I’m on my way to Doha as I write, what better subject than LNG and the boom which will keep the dollars flowing into Qatar for decades to come.
As COP27 draws to a close, the pressure on governments and companies around the world to accelerate the global energy transition away from fossil fuels and into clean energy continues to mount.
As humankind drives relentlessly towards climate catastrophe, just a few days ago the International Energy Agency offered a crumb of comfort regarding CO2 emissions.
In all discussion about the drive for renewables and the need to wean ourselves off fossil fuels, one crucial word is heavily under-represented. That word is “storage’ and I have long found the lack of emphasis on it by policy makers a source of puzzlement.