The uncertainty surrounding the coronavirus pandemic could be a “moment to reassess” for many smaller North Sea oil and gas firms overlooking the energy transition, a top energy analyst has said.
‘Put a tiger in your tank.’ - The public face of oil and gas looks very different today from the end of the last century, when this popular slogan reappeared. In the past messaging has laid the blame for manmade climate change at the feet of the oil and gas sector. As an industry we have never shied away from our responsibilities to operate, and that does not change today but there is drive and energy to ensure that we operate in a more sustainable manner. The UK’s 2050 commitment to net-zero carbon emissions will spur wider change, creating new sources of energy and new opportunities.
Don’t count on America’s oil giants to join their rivals across the pond in ambitious efforts to cut carbon dioxide emissions.
Bringing about the energy transition needs to make “economic sense” and be socially and environmentally sustainable, according to Shell’s chief technology officer.
Every major oil firm in the UK and Norway is now engaged in talks on electrification of offshore platforms, according to energy services giant Baker Hughes.
About 70 acres of green space, industrial estates and more in Aberdeen could be transformed into the city’s first dedicated “energy transition zone” (ETZ), which oil tycoon Sir Ian Wood believes could be key to securing “unparalleled potential for the future of our local economy”.
Kosmos Energy has reported a net loss of $36 million for the fourth quarter of 2019, although free cash flow reached $139mn for the period.
In the new age of sustainability, there are plenty of companies pledging to offset emissions in the race for net zero. While certainly an improvement over past years when a pledge to do 10% better was the standard, the trend has triggered skepticism that greenwashing is really what’s at work.
Subsea Expo has celebrated its largest attendance on record after wrapping up the three-day event in Aberdeen.
BP Plc’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change, increasing the pressure for Exxon Mobil Corp. and Chevron Corp. to do more.
BP has unveiled ambitious new plans to slash its carbon emissions in a move that will lead to an overhaul of the UK oil giant’s structure.
If you want to make a difference, you need to be “on the boat”, according to BP’s Kirsty Salmon.
Even before the deadly virus struck, another menace confronted the global energy industry: the warmest winter anyone can remember.
Norwegian energy giant Equinor has outlined plans to become a global offshore wind “major” by 2026 as it looks to "shape its portfolio" in line with the Paris goals.
“Hard decisions” are going to have to be made by firms that are too reliant on North Sea oil, according to a director at Oil and Gas UK (OGUK).
The current energy transition is shaking the foundations upon which the oil and gas industry is built. In the UK, one such foundation is the Oil and Gas Authority’s maximising economic recovery UK (MER UK) strategy.
A BP boss in charge of energy transition efforts has teased “more to follow” on the eve of Bernard Looney’s coronation as chief executive.
“Rejuvenated” UK subsea energy engineering firms are preparing for a recruitment drive expected to deliver a major jobs boost for the sector, a new survey says.
The UK Continental Shelf’s attractiveness to investors results from a combination of compelling attributes: A competitive fiscal regime, a highly skilled supply chain and the remaining billions of oil and gas barrels that are still out there.
Oil and gas companies do have some advantages in terms of tackling the energy transition, but there are pitfalls along the way and the process will be messy, speakers at a CMS event launching a new report said.
The deputy chief executive of RenewableUK is to leave to head up trade association Energy UK.
BP’s new CEO needs to “push” the energy transition agenda further to stop the supermajor falling foul of investors, particularly in Europe, analysts have said.
It’s apparently not the traditional approach for the top dogs of major oil companies, but maybe it’s time to break the mould.
BP has set itself a challenge of creating five “unicorn” companies - valued at more than $1 billion - in the next five years to address the “dual challenge” of supplying more energy with fewer emissions.
The move from “Big Oil to Big Energy” is under way as the energy transition puts extra pressure on explorers, an analyst has said.