Only two years ago, Africa seemed set to become the world's next major producer of oil and gas. International companies were scrambling to win exploration rights in frontier markets in West Africa; countries in North Africa were excited about new discoveries in the Mediterranean Sea; and natural gas was identified as a long-term transitional energy source, creating new opportunities for low-income nations such as Tanzania and Mozambique.
Although key barriers remain, the worldwide potential of hydrogen is vast. Some estimate an investment pipeline of $300 billion, with hydrogen possibly supplying 18% of global energy by 2050. The Gulf States are particularly well placed to capitalise as producers and exporters of clean hydrogen.
Large oil and gas players have a “massive role” to play in driving “change for good” across the world, particularly in protecting LGBTQ+ rights, an industry expert has said.
The North Sea Transition deal, announced on March 24, has given industry a clear statement of intent for the coming decade and beyond, but the energy sector would do well to prepare itself for the inevitable legal and regulatory consequences that follow.
The oil and gas industry needs to be careful that Covid-19 doesn’t undo the large strides that have been made to address gender imbalances in recent years.
It’s around this time of year that Oil and Gas UK releases its eagerly-awaited annual Decommissioning Insight report. The study was first launched to enhance knowledge of the decommissioning market. It shows an industry with intellectual capability that needs to be shared to maintain competitiveness and efficiency.
The European Union is committed to achieving net-zero emissions by 2050. To support this, Brussels plans to create a €225 billion green bond as part of a shift towards cleaner economies.
The boss of one of Scotland's leading renewable developments has warned the country needs to be proactive if it’s going to maintain its places as a "world leader" in floating wind.
People questioning the oil and gas industry’s sustainability is not a new phenomenon. Far from it. For years oil companies, governments, investors and other stakeholders have questioned the sustainability of the industry and the need to address environmental, social and governance issues (ESG).
Even in this time of great uncertainty caused by the Covid-19 pandemic and lower oil prices, corporate M&A and private equity investment in the energy sector is not dead.
By Johnny West, Alexander Sarac, Eleanor Morris, David McEwing, John Podgore
The current collapse in the price of crude oil is the most extreme so far this century. It has already had significant impact on the oil industry, leading to some declarations of force majeure (examples include licenses and contracts in Iraq and the Gulf of Thailand). The question we address here is: what will the impact be on upstream producing countries? And more specifically, how should upstream countries react if companies approach them for fiscal concessions, citing marginal economics?
Since the onset of the Covid-19 outbreak and oil price crash, huge amounts of pressure have been heaped on directors of oilfield service (OFS) businesses.
By Robert Phillips, legal director, Addleshaw Goddard
The Energy industry has taken another battering. But unlike previous economic hurricanes, this time within weeks centrally funded support was made available in the form of furlough leave and pay.
A toxic cocktail of the Covid-19 outbreak and an act of self-sabotage by two of the world’s biggest oil nations has created unprecedented and overwhelming currents for the oil and gas industry to swim against.
The Oil & Gas Technology Centre (OGTC) will launch the first of its Tech20 Virtual series with ‘Artificial Intelligence vs Data Privacy: a 21st century David and Goliath story’, taking place Friday 3 April, 11:00-12:00 GMT.
