BP profit warning a bellwether for change
BP PLC has warned that it expects profit margins to slump this quarter due to a fall in oil trading and is instead relying on an unlikely source of growth, electric vehicles, to steady the ship this year.
Europe
Norway’s Northern Lights CCS project completes CO2 storage facilities
The developers of the major Northern Lights carbon capture and storage (CCS) project in Norway have completed the CO2 receiving and storage facilities.
Denmark’s Project Greensand CCS completes pilot phase
A world first pilot project in Denmark has proven the feasibility of safely storing captured carbon dioxide (CO2) deep beneath the North Sea seabed.
Wood completes assessment of three Norwegian CCS projects
Aberdeen-based Wood (LON: WG) has successfully assessed the technical feasibility of three carbon capture and storage (CCS) projects on the Norwegian Continental Shelf.
Equinor leads Norway’s push into carbon ‘recycled’ green fuels
Norwegian state-owned energy giant Equinor is among global oil and gas firms investing in a range of alternative green fuels in
Closer ties between the UK and Europe post-election can drive energy security
With Prime Minister Keir Starmer hosting EU leaders last week, all eyes are on the relationship between the UK’s new government and its European neighbours. While there will be a lot to discuss, from security to the economy, it is important that there is clarity on the UK’s collaboration with Europe in terms of the energy transition and security.
SLB and Aker Carbon Capture finalise joint venture deal
American oilfield services firm SLB (NYSE:SLB) has finalised its acquisition of a majority stake in Norway's Aker Carbon Capture (ACC).
The world’s biggest carbon removal plant comes online in Iceland
Amid the steam rising around Iceland’s Hellisheioi station sits a newly built warehouse surrounded by giant fans run by carbon removal startup Climeworks. Dubbed Mammoth, the project is now the world’s biggest plant to suck carbon dioxide from the air.
Perenco outlines plans for new UK CCS projects Poseidon and Orion
Perenco has outlined its plans for two new UK carbon capture and storage (CCS) projects, Poseidon and Orion.
‘We’re anxious to be one of the forerunners’: Synergia targets appraisal well on ‘Camelot’ UK CCS project
Synergia Energy (AIM: SYN) aims to drill an appraisal well at the Camelot field, forming part of its UK Medway Hub Carbon Capture and Storage (CCS) plan, in the next 18-24 months.
SLB announces $382m deal for majority stake in Aker Carbon Capture
American oilfield services firm SLB (NYSE:SLB) has announced a NOK 4.12 billion ($382m) deal to purchase 80% of Norway's Aker Carbon Capture (OSL:ACC)
Germany’s €23bn green experiment to save its industrial economy
Europe’s largest economy is running a €23 billion ($24.9 billion) experiment to reach net zero by 2045 without destroying its energy-intensive industrial base.
Germany to allow carbon storage to pave way for lower emissions
Germany will allow heavy industries who don’t have other ways of cutting emissions to transport and store carbon underground, a reversal of the government’s original stance as it bolsters efforts to reach climate neutrality.
CCS project pipe fills as customers ready for “leap of faith”
Carbon capture and storage (CCS) is starting to take shape, as industry takes steps to decarbonise and confidence growing from customers.
Europe wary of clean-tech protectionism on green-transition cost
The European Union is shying away from further measures to protect its embattled clean-tech industry from cheap Chinese imports over concerns it could make it harder to source key components and raise the cost of the green transition.
EU risks escalating spat with farmers, business over climate
The European Union issued its most ambitious climate roadmap just as the bloc is facing severe headwinds from angry farmers and an ailing industrial base increasingly alarmed about the high costs of a rapid green transition.
Germany paves way for major expansion of gas power plants
The plan requires developers to upgrade stations to burn hydrogen sometime between 2035 and 2040
Norway’s carbon capture scheme boosted by Germany’s change of heart
A Norwegian project to bury carbon under the seas is getting backing from Germany
EU set to seek ambitious goal of 90% emissions cut by 2040
The European Union’s executive arm is set to recommend a 90% net reduction of greenhouse gases by 2040, a target backed by climate scientists and criticized by the industry in the face of high energy prices and growing international rivalry in clean technologies.
EU plans big scale up of carbon removals to reach climate neutrality
The green shift in the 27-nation bloc, which is already legally bound to reduce greenhouse gases by 55% this decade, will affect every corner of the economy.
The value of well testing at carbon storage sites
Carbon capture, utilisation, and storage (CCUS) is recognised as one of the pivotal enabling processes in the global transition towards reducing greenhouse gas emissions and achieving 2050 net-zero targets.
Norwegian Petroleum Directorate rebrands for offshore
The directorate had a "long, proud history as a resource authority with solid knowledge about the subsurface on the Norwegian shelf”.
Neptune kicks off L10CCS FEED work with Petrofac
Neptune Energy has announced progress on the L10CCS carbon storage scheme off the Netherlands, with a final investment decision (FID) now targeted in 2025.
Edinburgh University leads EU funded carbon removal collaboration hub
University of Edinburgh researchers spearhead €5.2 million EU-funded project to establish European carbon removal market.
Aquaterra Energy wins work at Ineos’ Greensand CCS project
Aquaterra Energy has secured a contract with Ineos covering life extension work at the platform serving its Danish carbon capture and storage (CCS) scheme.