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
Shell withdraws staff from Russia projects as exit plan begins
Shell started to withdraw staff from its joint ventures with Gazprom PJSC as it moves forward with plans to exit investments in Russia response to the invasion of Ukraine.
Oil gains as week opens on Libyan Disruption, Russia’s Warning
Oil climbed as supplies from Libya were interrupted and Russia warned of the potential for record prices if more nations ban its energy.
EnerMech lands $3 million deals to support majors in Azerbaijan
Aberdeen-headquartered energy services group EnerMech has landed two contracts in Azerbaijan supporting major projects in the Caspian.
UK fuel supplies disrupted by environmental protestors
Low-level disruptions to fuel supply for UK service stations continued Monday as environmental protestors remained locked to energy infrastructure.
Spain and Naturgy prep for higher Algerian gas prices
Spain is preparing to pay more for gas supplies from Algeria, with both sides warning of the raise.
OMV takes 2bn euro charge on Russian turmoil
OMV has taken a charge of around 2 billion euros ($2.17 billion) on the exit of its Russian holdings.
Avenir reloads LNG cargo in Lithuania amid energy security scramble
Avenir LNG has teamed up with Lithuania’s Achema Gas Trade for a first LNG reloading at the Klaipeda terminal.
Neptune Energy cuts emissions at Adorf with contract award to KCA Deutag
Neptune Energy has awarded a contract to drill the Z17 well in the Adorf carboniferous gas field, north-west Germany, to KCA Deutag.
How ESG, and the wider energy industry, is being challenged by Russia’s invasion of Ukraine
The definitions of Environmental, social and corporate governance (ESG) have been challenged by Russia’s invasion of Ukraine, nowhere more so than in the energy sector, where companies have been forced by events to exit Russia abruptly and energy prices have soared to record levels.
The price for Europe to wean off Russian gas keeps going up
Europe’s ambitious timetable for building its way out of a dependence on Russian energy faces potential delays and billions of dollars in extra costs as the war in Ukraine makes steel, copper and aluminium scarce and more expensive.
Eni boss talks gas with Egyptian president
Eni CEO Claudio Descalzi has held talks today with Egyptian President Abdel Fattah al-Sisi around gas and exports.
Europe’s new LNG risk in pivot away from Russia
Europe has woken up to LNG demand as a means to provide energy security, even while such a move appears out of step with countries’ net zero commitments.
BP courts Chinese and Indian energy majors in bid to offload Russia assets
BP has reached out to state-backed firms in Asia and the Middle East as it searches for a way to offload its Russian assets.
TotalEnergies to continue Russian gas purchases, despite criticism
TotalEnergies CEO Patrick Pouyanné has stood up, once more, for the company’s values – but defended the purchases of Russian LNG.
US commits to additional LNG supplies for Europe
The US and its partners will send an additional 15 billion cubic metres of LNG to Europe this year, US President Joe Biden has said.
Aberdeen heating firm cuts ties with Gazprom
The company behind the low-cost district heating scheme in Aberdeen is to terminate its contract with Russian state-owned Gazprom.
Shell and BP may be stuck in Russia despite exit plans, says TotalEnergies CEO
UK and US oil majors such as Shell and BP may be stuck with their assets in Russia despite saying that they will leave the country to protest the invasion of Ukraine, said TotalEnergies chief executive officer Patrick Pouyanne.
Second Unaoil conviction crumbles on appeal, in blow to SFO
The Court of Appeal has quashed another conviction related to alleged wrongdoing by Unaoil, setting Paul Bond free today in another rebuff to the Serious Fraud Office (SFO).
Shell to invest up to £25 billion in UK energy system over next decade
Shell has announced it will invest up to £25 billion in the UK energy system in the coming years.
UK faces £4 billion bill if government has to bail out Gazprom
UK taxpayers could face billions of pounds in costs if the government ends up nationalising a unit of Gazprom PJSC that supplies about a fifth of the country’s commercial gas.
European energy prices soar as Russia seeks rubles for its gas
European energy prices surged after President Vladimir Putin said Russia will demand payments in rubles from natural gas buyers it deems “unfriendly.”
North Sea dodges windfall tax – but Treasury’s oil and gas receipts head for highest in over a decade
The North Sea has dodged calls for a windfall tax, but Treasury receipts from the sector are set to surge to their highest in over a decade.
Shell signs up to provide LNG to new German import terminal
Shell has struck a memorandum of understanding (MoU) to provide LNG to the Brunsbüttel terminal in Germany.
Spring statement: Key demands facing Rishi Sunak ahead of mini-budget
Chancellor Rishi Sunak will come under pressure to offer more support to working families in financial pain as he makes his spring statement on Wednesday.
Petrofac awaits outcome of £127 million HMRC court battle
Petrofac (LON: PFC) is awaiting the outcome of a £127 million court battle with HMRC, and said a portion of the costs could land on its customers.
