Analysts warn of £4.9bn shortfall in Chancellor’s green plan
Analysts have warned of a potential £5 billion funding hole in Chancellor Rachel Reeves’ proposals to finance the green prosperity plan.
Rystad Energy
Upstream electrification could cut over 80% of oil and gas emissions, Rystad says
Electrifying upstream oil and gas assets to run on renewables or natural gas that would otherwise be flared could cut associated emissions by more than 80%, according to Rystad Energy.
Building on our industrial heritage to decarbonise energy
Earlier this summer, the manufacturing trade organisation Make UK revealed that Britain had dropped out of the top 10 manufacturing nations for the first time since 2012.
Rystad highlights importance of UK supply chain to energy transition
As a keen cyclist in my spare time, I’m used to motivating myself to set new personal best targets to achieve.
Under fire, exploration drilling fights for its corner
Exploration is not quite the dirty word it was in 2020-21, but appetite remains muted and highly selective.
Tanker reroutes from Egypt amid Israeli gas squeeze
Ajayi noted Egypt relied on gas imports from Israel for domestic demand. “As such the North African nation will have less gas available for LNG exports due to the shutdown of the EMG pipeline.”
Rystad: North Sea projects worth $14bn could be sanctioned by 2024, but windfall tax risk remains
All in all the research firm believes there is scope for companies to press the green button on 14 UK North Sea schemes in 2024 alone.
Oil and gas firms to fork out £45bn on well interventions this year
Billions of pounds will go on well interventions this year as oil and gas companies seek to squeeze out as much value as possible from fields.
Demand for wind turbine towers to exceed supply by 2028
Analysis by Rystad Energy finds that demand for the steel towers that comprise wind turbines will outstrip manufacturing capacity before the end of the decade.
Upstream spending in the UK is bouncing back following COVID
UK upstream capital expenditure is up, showing a bounce back from the lull the industry experienced during the COVID pandemic.
$5bn worth of oil and gas assets up for sale in Southeast Asia
Around three billion barrels oil equivalent (boe) of resources,worth a total $5 billion are on the market, in Southeast Asia.
European gas is stuck in storage after prices sank from peak
Last year, as Russian natural gas supplies to Europe dwindled, buyers on the continent hoarded gas at record prices and injected it into storage in preparation for a grim winter.
Norwegian tax incentives help drive $43bn of new investment
24 Norwegian oil and gas projects were green lit in 2022, marking a record-breaking year for project approvals, according to data from Rystad Energy.
Low-carbon investments to rise by $60bn in 2023 as hydrogen and CCUS spending surges
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments, but helped by a significant rise in funding for hydrogen and carbon capture, utilisation and storage (CCUS) infrastructure, Rystad Energy research shows.
$16bn of oil and gas investment expected in Asia-Pacific in 2023
There's a $16bn project pipeline predicted for 2023 in Asia-Pac, but nearly a third are at high-risk of delay.
Facing a gas supply crunch, Europe must drop old habits and start simplifying its response
The loss of Russian gas supplies has led to a supply deficit in Europe which is likely to last over the coming three to four years and sustain higher gas prices. To avoid the long-term deindustrialization of Europe and the impoverishment of millions of citizens, Europe needs an energy security plan that looks beyond public support, energy savings and renewable electrification only.
Rising supply chain costs threaten European solar, battery progress
Record electricity prices are damaging Europe’s attempts to build its solar and battery sectors, as manufacturers face mounting costs, warns Rystad Energy.
OPEC slashes production, Biden talks tough
OPEC has taken the decision to cut production by 2 million barrels per day from its August target, amid growing concerns over weak pricing.
Rystad: LNG to balance European demand in absence of Russia
Europe can rebalance its gas supply and replace Russian gas imports before 2030, but will have to take some tough decisions on LNG.
Global exploration slows as leasing falls to lowest level since 2000
Global oil and gas exploration will cool this year as the number of licensed blocks and total acreage fall to “near all-time lows” according to findings by Rystad Energy.
Rystad warns no quick pipe fixes for Iran from Gazprom
Gazprom signed a deal in July to help National Iranian Oil Co. (NIOC) develop Iranian projects, but Rystad Energy has warned Russia lacks the required metallurgical supplies.
‘We are at max capacity’: Norway weighs role as EU gas partner
As the European Union and the UK both scramble to replace Russian fossil fuel supplies, gas in particular, Norway has signalled its intention to step up as the partner of choice.
Opportunity in Africa’s LNG, if Europe gets serious on supply
Africa could build 120 million tonnes per year of LNG capacity, the International Gas Union (IGU) has said, but development remains slow.
Global recoverable oil reserves fall by 9% amid ‘collapse’ in exploration appetite
Recoverable oil reserves have fallen by around 152 billion barrels since last year, while undiscovered volumes have plummeted owing to diminished exploration appetite, according to analysis by Rystad Energy.
Freeport LNG offline until “late 2022”
Freeport LNG has provided an update on the circumstances of the June 8 fire at its facility on Quintana Island, Texas, warning that a return to full operations will not come until late 2022.