Activist investor fund urges BP to drop clean energy strategy
An activist investor fund is reportedly urging BP (LON:BP) to abandon its commitments to reduce oil and gas output and other parts of its clean energy strategy.
Oil & Gas
Biden urged to reverse LNG pause by global business groups
Business organizations from the US, Europe and Japan called on the Biden administration to reverse a decision to freeze approvals of new licenses for liquefied natural gas export facilities.
‘Systemic lack of trust’ between oil and gas firms sharing projects
Non-operated stakes in oil and gas projects are on the rise, but a review of the system has highlighted a “systemic lack of trust” between partners.
TRAC International blames job losses on Brexit and inflation
Radio division drives Aberdeen-based firm to a loss, despite success in energy segment
Dundee hydraulics firm invests £500k in new Aberdeen business
Saturn Fluid Engineering plans to invest a six-figure sum in expanding its Aberdeen business.
Tribute paid to Peterhead solar farm worker who suddenly died overnight
Bilbo Solar Farm developer 'profoundly saddened' by the news.
Gas-addicted Europe trades one energy risk for another
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.
Local sales, cost cutting and patience: Kurdistan producers hang on
“We continue to see progress,” said Genel CFO Luke Clements. “It’s painfully slow. But it’s not like we’re close and then it all blows up. It’s just small steps, but with good progress.”
Biden freezes approvals to export gas, endangering major projects
“The administration’s decision to freeze review of new LNG terminals is deeply disturbing and raises significant risks around the globe,” said Marty Durbin, president of the US Chamber of Commerce’s Global Energy Institute.
Odfjell union workers call off strike at Equinor’s Mariner platform
Odfjell Technology workers on Mariner will now move to two weeks on, three weeks off rotas
Ithaca expects Cambo approval to follow Rosebank path
"Ultimately political and regulatory processes will work through to get the right answer."
Perenco swipes left on Etinde
Bowleven CEO Eli Chahin said the termination of the deal was “unfortunate as we believed it could have represented an opportunity to accelerate development progress at Etinde”.
East of Shetland: Will the UK’s heavy oilfields overcome their challenges?
The East of Shetland is home to some of the largest untapped resources in UK waters but sits among the regions with the greatest challenges for development.
Africa Oil sets out company transformation via the Orange Basin
“The reason we wanted to stay in is in the southern part of the block.” The operator is acquiring 3D seismic on the area, he said, backing up existing 2D seismic.
Harbour confident in Wintershall Dea deal despite sanction concern
Harbour will emerge with “stronger credit, we expect to reach investment grade credit on completion, which will give us access to lower-cost capital for future growth”.
Harbour Energy restructures Aberdeen office estate
Britain's leading oil and gas producer will focus its Granite City footprint on Prime Four.
Angela Fletcher named commercial chief at North Sea infrastructure owner NSMP
North Sea Midstream Partners (NSMP), a significant owner of the UK’s offshore energy infrastructure, has named Angela Fletcher as its new chief commercial officer (CCO).
Angola’s OPEC exit: a small nation’s big statement
Angola's bold move could be the harbinger of a more dynamic global order, where size does not dictate influence or relevance.
SBM Offshore CEO to step down after 12 years
SBM Offshore has announced that its chief executive for 12 years, Bruno Chabas, has decided not to seek a 4th mandate at the end of his current term on 12th April 2024.
Shell’s half billion barrels in the Orange Basin
“We are making ongoing evaluations to determine the exact size of these fields and continuously improve our estimates to determine commerciality.”
Report warns of North Sea private equity cash wipeout on faster transition
Carbon Tracker says oil and gas cashflows are at major risk of plummeting demand, though industry leaders say North sea firms are integral to energy transition delivery
Shell’s Victory move highlights ‘clear tax incentive’ from EPL investment allowance
Tax incentives associated with the Energy Profits Levy may have encouraged Shell to move its Victory plans forward.
Stay away from KRG producers, analyst warns investors
“We have cut all non-essential activity and significantly reduced spend, while developing a new source of income through domestic sales,” said Weir.
Big Three: SLB, Halliburton and Baker Hughes post bumper oilfield services profits
Oilfield services giants Halliburton, SLB and Baker Hughes have posted bumper profits in their respective full-year results, with international demand playing a key role.
BP to name Kate Thomson as CFO
Thomson was appointed interim finance chief in September, the first woman to hold the position at BP.