J+S Subsea expands on offering its recycled North Sea treasure trove
Aberdeenshire’s J+S Subsea has opened the doors of a new facility as it targets growth and looks to become a credible competitor to tier one North Sea suppliers.
Europe
European Oil and Gas news
Dutch court overturns order for Shell to take responsibility for petrol emissions
A Dutch court has overturned a landmark ruling against Shell that would have forced the oil company to reduce emissions produced by its petrol customers.
All Europe Posts
MARS bags award for Banff FPSO decommissioning
A decommissioning firm has been recognised for its work scrapping a North Sea floating production storage and offloading (FPSO) vessel.
Europe must cut gas demand by 55bcm or risk supply issues, McKinsey warns
Research from consulting giant McKinsey & Company claims failure to do so would put countries at “substantial risk” from a rebound in Asian demand or reductions in Russian imports.
Tecnicas Reunidas wins LNG work in Germany
Shareholders in HEH include the Buss Group, Fluxys and Dow. The latter owns the land on which the group will build the regas terminal. The terminal will take industrial waste heat from Dow’s projects, allowing it to regasify LNG with minimal emissions.
Naftogaz claims $5bn arbitration victory over Russia
Ukraine’s state-run energy firm NJSC Naftogaz Ukrainy says it won an arbitration case against Russia, in a decision that would oblige Moscow to pay $5 billion or risk the seizure of assets abroad.
Netherlands plans to end Russian LNG imports, minister says
The Dutch government is working on ending all liquefied natural gas imports from Russia, according to Energy Minister Rob Jetten.
Foreign flight from Russia helps push ruble to lowest in a year
Speculation that Shell (LON: SHEL) may convert and repatriate more than $1 billion of ruble earnings from the sale of a project in the Far East has helped drive the Russian currency to its weakest level in a year.
Oil and gas projects: Down at the foot of the Atlantic league table
The Atlantic Ocean Basin covers roughly 20% of Earth’s surface. With neighbouring seas like the North Sea and Caribbean, it covers about 106.4million square km (41.1million sq. miles) and hosts the most diverse array of offshore oil and gas provinces anywhere.
Time to light Beacon Energy
“Indigenous supply gives the opportunity for the lowest carbon footprint. We are operating in one of the highest regulated environments in the world,” the CEO said. Rhein trucks the oil to a local refinery, which Bottomley described as the “best possible” way in which to lower carbon.
EU aims to give members option to block Russian LNG imports
The European Union is targeting a way for member states to have the option to effectively ban Russian shipments of liquefied natural gas without implementing new energy sanctions.
‘Disaster waiting to happen’: Shadow tankers carrying Russian oil pose environmental danger
The oil tanker Turba normally should have been melted down by now.
Capricorn Energy to slash 120 UK jobs
Capricorn Energy (LON: CNE) has announced job cuts which will see around 120 of its UK employees made redundant as it focuses its attentions on Africa.
Has Europe’s gas demand started to recover yet?
European companies are using more natural gas as prices drop to levels before the Ukraine war, putting a potential strain on preparations for another winter with limited Russian supplies.
G-7 set to hold off revising Russian oil price cap this week
Group of Seven nations are unlikely to revise a price cap on Russian oil this week, despite initial evidence that crude is selling well below the current $60 threshold.
Germany cautious over Nord Stream pipeline attack reports
Germany's defence minister voiced caution on Wednesday over media reports that a pro-Ukraine group was involved in blowing up the Nord Stream gas pipelines in the Baltic Sea last year.
US, German intel points to Ukraine role in Nord Stream explosion
The report went on to say the attack required experienced divers who may have received “specialised government training” at some point.
Norway well-slot: Spuds, duds and discoveries
As of 24 February, Westwood Global Energy reports that there are five exploration wells active, with four in the North Sea and one in the Barents Sea
Essar puts UK low carbon opportunity at heart of $3.6bn investment
Essar said hydrogen and biofuels are becoming globally significant fuels. “The UK is positioned strongly to spearhead the rapid growth of the European low carbon fuels market,” it said. “The UK already benefits from an advanced regulatory and policy framework to support low carbon energy production”.
European gas reaches tipping point to price out coal in power
European gas prices rose amid expectations of higher demand from power producers, after a recent slump improved the profitability of the fuel compared to coal.
Shell: European demand, US supply to drive LNG market
More investments in liquefaction is needed to head off a supply-demand gap that the company sees emerging in the late 2020s. Last year, the company put this supply-demand gap opening up by mid-decade.
Germany receives first Middle Eastern LNG, from Adnoc
Alebri said the delivery “demonstrates how the UAE is continuing to work closely with our strategic partners in responsibly providing secure, sustainable and affordable energy supplies”.
First for Israel as Energean exports liquids from Karish
Energean has announced the first ever lifting of an Israeli crude oil cargo from its Karish field, months after the field produced first gas.
European gas is stuck in storage after prices sank from peak
Last year, as Russian natural gas supplies to Europe dwindled, buyers on the continent hoarded gas at record prices and injected it into storage in preparation for a grim winter.
The East Med’s export problem
“It’s a matter of cost,” DNV’s Mediterranean manager Andrea Spessa said. “This pipeline is the best solution to transport energy from one country to another in this range.”
Upstream M&A heats up in Southeast Asia as Longboat joins the hunt
Underscoring the rising interest in Southeast Asia’s upstream market, North Sea-focused E&P company Longboat Energy (AIM:LBE), confirmed it is “exploring opportunities to broaden its strategic remit” in the region.
Sanctions-proof yuan to Putin’s rescue after oil cap hits budget
The price cap on Russian crude oil exports is starving President Vladimir Putin’s budget of income, though it likely won’t force him to ratchet down spending for years thanks to a $45 billion buffer of yuan reserves.
