UK energy supply needs £900bn investment to reach net zero
Banks and policymakers need to work together to mobilise investment, says NatWest.
Boston Consulting Group (BCG)
UK North Sea braces for $25bn cash flow crash
Inflation, rig rates and the windfall tax will hit 40 companies over the next five years – some of that cash would otherwise go to areas like safety and decarbonisation.
Sonangol probe reaches BCG, PwC in Portugal
Angolan President Joao Lourenco dismissed dos Santos in November 2017, shortly after becoming president. Isabel was the daughter of Lourenco’s predecessor, Jose Eduardo dos Santos. Isabel is believed to be in Dubai.
EIC report finds global hydrogen damand falling behind production
An Energy Industries Council (EIC) report has found that the global demand for hydrogen is expected to fall behind production levels by the end of the decade.
The astonishing implications of Biden’s Inflation Reduction Act
While Europe has been grappling with the impacts of the war in Ukraine and the huge price rises in oil and gas that it has brought, in the US, the energy landscape looks very different.
High oil price and windfall tax ‘threaten’ decommissioning targets, report warns
New research has warned that high oil prices, coupled with the UK Government’s windfall tax, could “pose a threat” to North Sea decommissioning targets.
El Molla oversees slew of deals at Egypt show
Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla has struck deals with Apache and Yemen, while backing plans for an Egyptian company to pursue petrochemical works in Nigeria.
Future North Sea – Decommissioning the ‘unsung hero’ on the path to net zero
Viewers were told how decommissioning is the “unsung hero” of the energy transition during an Energy Voice event on Thursday morning.
Oceaneering lands decommissioning ‘world-first’ as six operators team up on dozens of North Sea wells
A group of six operators have signed a “word-first” decommissioning deal with Oceaneering to shut down dozens of North Sea wells as part of a campaign.
Clean Creatives takes aim at oil money in advertising
Oil companies have long been the target of environmental protestors, but recent campaigns have seen a much wider list for activism.
BCG: Distressed or bankrupt oil firms face $15billion decommissioning costs
The decommissioning costs of oil and gas firms which have recently gone bankrupt or are in financial distress is near $15billion, according to new analysis from Boston Consulting Group (BCG).
Decommissioning bill for NEO – Exxon UK assets estimated at $1.1billion
The decommissioning bill for NEO Energy’s newly-acquired Exxon Mobil assets in the UK has been estimated at $1.1billion (£795m).
Brent at $60 post-Covid high: ‘Still a lot of ifs and buts’ for North Sea activity
The Brent oil price has reached its highest in 13 months, but experts say questions persist on whether activity in the UK North Sea will see a similar resurgence.
Oil industry ‘ripe’ for new decommissioning models but some won’t survive, says BCG
The offshore oil and gas sector is “ripe” for emerging new decommissioning models, however analysts BCG said they “strongly doubt” some will survive.
Offshore drilling firms should re-think ‘primitive’ day rate model, says BCG
Offshore drilling firms should re-think the “primitive” day-rate business model in order to survive the current industry crisis, according to new analysis from Boston Consulting Group (BCG).
Decommissioning work will become ‘much more consistent’ due to Covid, industry veteran predicts
Offshore decommissioning work will be "much more consistent" due to the low oil price and Covid combination, an industry veteran has predicted.
‘Wave of idle iron’ predicted as oil firms defer decommissioning and rush shutdowns
Widespread decommissioning deferrals could lead to a “wave of idle iron” in the UK and globally as companies rush to preserve cash and potentially shut down uneconomic oil platforms, according to new analysis.
Research highlights ‘huge concern’ over oil firms’ ability to pay decommissioning bills
New analysis has outlined “huge concerns” for UK taxpayers around whether oil and gas firms will be able to meet their hefty decommissioning costs, with some rising above their company market values.