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.
Swedish officials said they have decided to close their investigation into the September 2022 explosions on the Nord Stream gas pipelines which were built to carry Russian natural gas to Germany, saying they do not have jurisdiction.
TotalEnergies SE (LON:TTE) raised its dividend and continued share buybacks, shrugging off a 31% drop in fourth-quarter earnings caused by weaker oil and gas prices and shrinking refining margins.
The plan requires developers to upgrade stations to burn hydrogen sometime between 2035 and 2040
Europe, long-reliant on Russian natural gas, has nearly severed its dependency on the Kremlin in less than two years. Its preferred replacement — gas from the US — is widely viewed as abundant, politically palatable and less likely to be choked off than pipelines from Siberia.
Separately, the BBC, citing an official source in Kyiv it didn’t identify, said special forces struck the plant with drones.
The Shell appeal will be heard in The Netherlands beginning on April 2
A total of 24 companies have been offered oil and gas licences in Norway from the APA 2023 round.
Partners behind Denmark’s Tyra redevelopment have confirmed a final investment decision for new drilling set for later this year.
Norway’s energy minister has said oil and gas activity may be hit by a lack spare parts for S-92 helicopters.
Westwood expects offshore rig dayrates to continue their upward trajectory across the board in 2024 as supply tightens.
Norway is to follow the UK with special safety requirements for “extra broad” offshore workers going into helicopters.
The energy industry continues to develop at pace, and that’s reflected by Decom Mission activity and that of our members.
The directorate had a "long, proud history as a resource authority with solid knowledge about the subsurface on the Norwegian shelf”.
OMV noted the presidential decree but said that it had written down the value of its Russian assets. As such, it expects no further impact as a result of the move.
“Longer supply lines tie up more vessels, boost freight rates, widen origin-destination spreads, and lift bunker demand,” Bank of America Global Research analysts said.
Shell Plc (LON: SHEL) agreed to sell its stake in the Schwedt refinery, a plant that supplies much of eastern Germany with fuel and has been caught up in Europe’s standoff with Moscow over the war in Ukraine.
OCI said in November it had hired advisers to explore asset monetization opportunities in an attempt to reduce its holding company discount. It said at the time it was in “active discussions” on “attractive value propositions.”
Wintershall DEA has firmed up its estimates at a pair of Norwegian discoveries following a fresh appraisal.
Should OMV choose to retain the rig beyond the initial 540 days, the day rate increases to $480,000.
US LNG is almost four-times more carbon-intensive than domestic UK gas production.
Longboat JAPEX has announced a farm-down of two exploration targets in Norway to Concedo AS.
NewMed Energy, which has a 30% stake in the project, also took a more measured tone. The company said Chevron had asked to postpone the start of front-end engineering and design (FEED) work on Aphrodite.
One of The Netherlands’ largest pension funds said it will continue to invest in nine oil and gas companies — including Shell and BP — while dropping dozens of others.
“The ultimate goal is to get off gas and move to hydrogen,” Lewis said. He noted that Europe’s gas demand remains uncertain in the short term.
“If we have another supply disruption from the US, from Norway or from the North Sea we will see more volatility,” he said.