Shell reportedly mulling sale of chemical assets in Europe and US
Oil supermajor Shell is reportedly considering selling its chemicals assets in the Europe and the US, including its holdings in the Mossmorran plant in Fife.
Europe
European Oil and Gas news
Voltalis pledges £1bn after Ofgem demand response reform
An arcane Ofgem decision is bearing fruit. The regulator’s move to carve out space for demand-side response in the UK market has triggered a significant £1 billion investment from French energy technology company Voltalis.
All Europe Posts
Aker Solutions predicts 30% revenue surge in 2022
Engineering firm Aker Solutions (OSLO: AKSO) is predicting a 30% surge in revenues for 2022 as it capitalises on “record high” tendering activity.
Saipem stock plunges, banks to step in as underwriters
Saipem (MI:SPM) shares have plunged around 70% from July 11 after the company acknowledged demand for additional shares was less than expected.
Germany in talks with Shell for LNG to replace Russian supplies
Germany is in negotiations with some of the world’s top liquefied natural gas suppliers, including energy giant Shell, to replace Russian fuel with alternative supplies.
EnerMech lands £107m worth of new contracts in Africa, Middle East and Caspian
EnerMech is today announcing new contracts worth a total of more than £107 million for work in Africa, the Middle East and Caspian region.
Gazprom’s shunned Nord Stream 2 wins spat over EU pipeline rules
Russia’s shunned Nord Stream 2 gas pipeline won a legal boost in its pre-war challenge against European Union rules that subjected all new and existing pipelines involving foreign suppliers to the EU’s energy market-opening requirements, after the bloc’s top court said its appeal can be heard.
Frontline, Euronav tweak terms in tanker tie-up plans
Frontline has struck a deal with Euronav for a potential merger, in an all share offer that would value each Euronav share at around $12.09.
Germany weighs intervention in energy markets to bring back coal
Germany is considering intervening in its energy markets to bring coal plants back online and conserve natural gas as it rushes to limit further disruptions from top-supplier Russia.
Shell shares up 3% after it backtracks on billions of pounds of write-offs
Shares in energy giant Shell (LON: SHEL) jumped 3% after it said it will reverse previous write-offs worth up to £3.8 billion this quarter.
Sonatrach tweaks pricing conditions for Engie
Sonatrach has struck a deal to supply France’s Engie with gas via the Medgaz pipeline.
Big finance and activists slam ‘disappointing’ EU gas vote
Europe has botched an historic opportunity to create a global benchmark for sustainable investing after agreeing to treat gas as a green asset, according to bankers, investors, climate activists and their lawyers.
Tengiz explosion kills two
An explosion this morning at Kazakstan’s Tengiz oilfield has killed at least two workers, according to local reports.
Opportunity in Africa’s LNG, if Europe gets serious on supply
Africa could build 120 million tonnes per year of LNG capacity, the International Gas Union (IGU) has said, but development remains slow.
Parkmead reports ‘record gas revenues’ ahead of new drilling campaign
Parkmead Group (AIM: PMG) has reported a year of stellar performance from its shares in Dutch gas assets as it plans further drilling later in the year.
European gas rally shows no signs of easing on supply concerns
European natural gas prices rose to the highest level in almost four months on persistent supply concerns amid the worst energy crunch in decades.
St Fergus operator px Group appoints new chief growth and innovation officer
px Group has announced the appointment of a new chief growth and innovation officer to head up its planned expansion.
Putin’s war throws crucial EU vote on ‘green’ gas into doubt
European lawmakers are under pressure from Ukraine to block plans to treat gas as a green asset, plunging into serious doubt an EU Parliament vote that not long ago seemed set to endorse the proposal.
Role reversal for Spain as it exports gas to Morocco
Spain has begun flowing gas south, into Morocco, via the Gazoduc Maghreb Europe (GME).
Neptune Energy spuds next Adorf gas well in Germany
Neptune Energy has confirmed drilling has begun at the Adorf Z17 gas appraisal well in Georgsdorf, north western Germany.
Uniper hits cash crunch, calls for German government assistance
Uniper has retracted its financial guidance for 2022 as spiralling gas prices have driven it to seek support from the German government.
Borr Drilling sells three jackup rigs for $320m
Borr Drilling (NYSE: BORR) has signed a deal to sell three jackup oil rigs for $320 million.
Pouyanné calls for immediate action to reduce energy use
The heads of Engie, EDF and TotalEnergies have called on the French to cut energy consumption as the European energy system comes under strain.
Russia steps up energy wars with gas cuts to Europe’s top buyers
Russia stepped up the use of energy as a weapon by further cutting natural gas shipments via its biggest pipeline to Europe, prompting Germany to accuse the Kremlin of trying to drive up prices.
TechFest appoints oil industry veteran Brenda Wyllie as new chair
STEM education charity TechFest has appointed oil and gas industry veteran Brenda Wyllie as its new chair.
ADNOC looks to Aberdeen’s ‘tartan’ revolution for $5bn UAE opportunity
ADNOC has hailed a “tartan” energy revolution in Aberdeen while seeking supply chain partners for a $5bn opportunity in Abu Dhabi.
Freeport LNG offline until “late 2022”
Freeport LNG has provided an update on the circumstances of the June 8 fire at its facility on Quintana Island, Texas, warning that a return to full operations will not come until late 2022.
