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
Italy wheels out top politicians for North African energy push
Data from the European Union shows Algerian gas flows to Italy up 41% year on year in the third quarter of 2022.
Wintershall Dea takes €5.3 billion hit on Russian exit
Wintershall Dea has announced it will ‘fully exit’ Russia, joining the ranks of energy majors pulling out of the country in the wake of its invasion of Ukraine.
Spain’s Enagas buys into key UK-Dutch gas pipeline
Enagas is to acquire a 20% stake in the Dutch BBL Company, which operates a 150-mile gas interconnection linking the UK and the Netherlands.
Chancellor Scholz to inaugurate Lubmin FSRU
“A gas deficit situation this winter is becoming increasingly unlikely,” it said. “However, a worsening of the situation can still not be ruled out. The need to save gas is still important.”
Eni, Snam complete Algeria pipeline carve up
It also noted that there was scope to develop hydrogen resources within the venture. There was discussion in December, during talks between Algeria and Germany, about the possibility of transporting green hydrogen via Italian links.
Norway dishes out dozens of oil and gas licences
Norway has handed out nearly 50 oil and gas exploration licences in a “gratifying” display of interest in the sector.
Frontline ditches Euronav tanker tie-up plan
“We regret that we could not complete the merger as envisaged in July 2022, as that would have created the by far largest publicly listed tanker company,” said Frontline CEO Lars Barstad.
Germany welcomes first LNG cargo, as FSRUs kick in
Germany has reduced its imports of Russian energy to zero and imported its first full cargo of LNG to Uniper’s new terminal at Wilhelmshaven.
Turkey-Bulgaria LNG deal opens quiet corner of EU gas market
Turkey gave Bulgaria access to its liquefied natural gas terminals, opening up a tightly controlled corner of the European gas market that could help diversify the region’s supply mix.
UK oil lobby warns financing may dry up after windfall tax
“Unless these are addressed, some companies will face an up-to 50% cut in their reserves-based lending capacity as facilities are reviewed over time by banks.”
OKEA takes stake in DNO’s Brasse discovery
In 2020, DNO took a £69 million charge on the value of Brasse, even while maintaining that the field was still commercial.
Nord stream 2 gas pipeline firm given stay of bankruptcy
A Swiss court has granted a six-month "stay of bankruptcy" to the operating company for the never-opened Nord Stream 2 pipeline, which was built to bring Russian gas to Germany but put on ice shortly before Russia invaded Ukraine in February.
Gazprom exports at lowest this century on capped flows to EU
Gazprom PJSC’s exports to its key foreign markets almost halved in 2022 — reaching the lowest since at least the start of the century — as flows to Europe were slashed following the invasion of Ukraine.
Excelerate FSRU delivers first LNG to Finland
Excelerate Energy has delivered an FSRU to Finland, loaded with a commissioning cargo.
AD Ports teams up with Kazakh unit for Caspian work
AD Ports Group has agreed to launch a joint venture with Kazakhstan’s national oil company to provide shipping services in the Caspian Sea.
Norway well-slot: Lupa discovery for Var Energi
As of 19 December, Westwood Global Energy reports that there are three exploration wells active, with one in the Barents Sea, one in the Norwegian Sea, and one in the North Sea. One exploration well is suspended.
Christmas present for Var Energi with ‘largest discovery of the year’ in Barents
Var Energi (OSLO: VAR) is celebrating Christmas early as it announces the “largest discovery” in the Barents Sea this year.
Seadrill to acquire rival Aquadrill in near $1bn deal
Seadrill (NYSE: SDRL) has announced it will acquire rival rig owner Aquadrill in an all-share deal worth nearly $1 billion.
Germany takes over Uniper as FSRU starts up
Germany agreed to reduce its stake in Uniper to 25% plus one share by 2028 at the latest.
Gazprom starts up ex-BP gas field with exports to China
President Putin said Kovykta and Chayandinskoye could produce 50 bcm per year.
Eni scores gas god off Cyprus
The Italian company said it would incorporate the well results into its evaluation of the area. Eni has its eye on a fast-track development in Block 6, it said.
Adnoc buys a quarter stake in OMV
Adnoc has struck a deal to buy a 24.9% stake in Austria’s OMV, for an undisclosed price, from Mubadala Investment.
KCA Deutag tots up contract wins, Omani electrification
KCA Deutag President Land Simon Drew said the contract extensions are “a key part of our strategy to grow our business in key markets such as the Middle East”.
Wintershall DEA moves forward with £670m Dvalin North, a year after discovery
Wintershall DEA is to press ahead with development of Dvalin North, the largest discovery in Norway in 2021.
TotalEnergies takes $3.7bn hit over stake in Russia’s Novatek
French oil giant TotalEnergies (XPAR: TTE) will take a $3.7bn impairment in its Q4 results as it writes down its stake in Russian gas producer Novatek and withdraws directors.
