Lord Ian Duncan has raised concerns that a lack of money post-Covid could leave governments unable to make the policy interventions needed to drive the energy transition.
All companies are exposed to climate risks, which broadly fall into the two categories of physical and energy transition risks. Both of these include elements of regulatory risks.
Over eight actions identified by the UK’s offshore oil and gas industry as essential if it is to realise a successful future in a lower carbon future have already been delivered, with a further 20 underway, despite the pressures heaped on the sector by the coronavirus pandemic.
Specialist rig inspection company Aberdeen Drilling Consultants (ADC) has been helping hundreds of oil workers around the world learn how to maintain drilling operations since the onset of Covid-19.
Small-scale geothermal energy projects have operated in the UK for decades, but wider adoption has lagged due to a combination of factors including cost, subsurface risk and the technologies required.
Hunting laid off about 20 employees in the north-east during the first half of 2020 as the Covid-19 pandemic and oil price drop caused demand to falter.
Ithaca Energy plunged deep into the red in the first-half of 2020 as the sharp drop in oil prices and staff payouts weighed on the firm’s balance sheet.
Neptune Energy said positive drilling results and further appraisal work on the Isabella discovery would lead to a “marginal” rise in exploration spend this year.
Sirte Oil Co. and Waha Oil have shut their offices for 10 days, in an attempt to combat COVID-19.
Global Engineering and Construction (E&C) has “reshuffled” its north-east facilities footprint in an effort to “stabilise” the company amid the Covid-19 and low oil price crisis.
Analysts are expecting a backlash from Beijing as Malaysian national oil company (NOC) Petronas prepares to drill in gas-rich Block SK 316 in the South China Sea off the eastern Malaysian state of Sarawak.
Europe’s plan to put a price on dirtier imports risks getting caught up in global trade tensions as the fallout from the coronavirus pandemic eclipses climate change as the biggest challenge for governments.
With the UK oil and gas market reeling from COVID-19, it’s clear that the decisions made by businesses in this industry as they focus on a recovery in the coming months need to be strategic, measured and informed.
Don’t dismiss the leak of oil from the MV Wakashio that ran aground last month on a reef off the Indian Ocean island of Mauritius so quickly. The volume lost may seem tiny, but its location, mixed with other pressures already faced by the oil industry, means that it will have an impact far beyond its size.
Big Oil is tapping Big Tech to keep drilling off the shores of Brazil even as the global pandemic traps workers at home.
While driving in Maryland last week, I passed a 13.6 megawatt solar project completed four years ago. At the time it was built it was on the larger side for the Mid-Atlantic region; a decade earlier, it would have been one of the very largest projects under construction in the entire country.
Bosses at Prosafe have lamented a “lost year” after it slumped to pre-tax losses of £683 million ($895m) in the first half 2020.
Oil, as the world's most heavily-traded natural resource and the bedrock foundation of some of the planet's largest economies, has always had a strong impact on virtually every area of economics and finance. The global oil trade is estimated to be worth something in the region of around $4 trillion a year in revenues, or about 3.8% of global GDP.
The drive to ensure the UK oil and gas sector is taking collective action to stimulate its own recovery will be thrown into focus in an industry webinar next week.
Energy service firm Wood has reduced its headcount by around 10,000 since the start of 2020 due to divestments and its response to the Covid-19 pandemic and lower oil prices.
Last week Philip Dunne MP, Chairman of the Environmental Audit Committee (EAC), wrote to BEIS Secretary Alok Sharma requesting support for developing a Hydrogen Strategy.
Applications have opened for the second round of grants for the self-employed to help them through the Covid-19 pandemic.
Oil edged higher ahead of an OPEC+ gathering this week to assess its supply deal as countries struggle to contain the virus that’s hurt economies and fuel demand globally.
Going to the supermarket has never been a favourite activity – and particularly during a pandemic.
With COVID-19 continuing to bring business disruption even as global lockdowns ease, the impact on the energy sector has prompted a review of existing contracts and serious repercussions for any negotiations returning to the table.