(Aker Solutions, 12Jun.2023) — Aker Solutions has been awarded a contract by Equinor to deliver the first Submersible Wireless Installer for Tubing (SWIFT™) for 18 tubing hanger installations on the Johan Castberg field, an assignment expected to continue for two years, starting June 2024. Aker Solutions is thrilled to announce […]
Category: England
England, UK
Halliburton Wins Well Completion Contract for CCS Project
(Halliburton, 12.Jun.2023) — Halliburton Company (NYSE: HAL) has been awarded a contract to provide completions, liners, and monitoring products and services for the carbon capture and storage (CCS) system within the HyNet North West project in the Liverpool Bay (U.K.). The first CCS project commissioned in the U.K, the HyNet project […]
Perenco and Bloom Energy to Deploy Oxide Fuel Cells
(Bloom Energy, 7.Jun.2023) — Bloom Energy (NYSE:BE) has signed an agreement with Perenco to install 2.5 megawatts (MW) of Bloom’s solid oxide fuel cells at a site in England. Perenco is a leading independent hydrocarbon company, producing 500,000 BOE of oil and gas per day from its operations in 14 partner […]
Bristow Preferred Bidder for Irish Coast Guard Aviation Service
(Bristow, 30.May.2023) — Bristow Ireland Ltd., a subsidiary of Bristow Group Inc. (NYSE: VTOL), a provider of innovative and sustainable vertical flight solutions, has been announced by the Irish Department of Transport as the preferred bidder for the next Irish Coast Guard (IRCG) search & rescue aviation (SAR) contract. Following the announcement […]
IKM Testing UK Inks Project for Methane Emissions Qualification (MEQ)
(IKM Testing, 23.May.2023) — Independent integrated solutions provider IKM Testing UK has secured a second contract with Bumi Armada to deliver a drone-based methane emissions survey on the Kraken Floating Production Storage and Offloading (FPSO) vessel in the North Sea. The project follows a successful aerial survey in November 2022 […]
ICIS launches Energy Foresight 
(ICIS, 11.May.2023) — ICIS, a global source of Independent Commodity Intelligence Services, launches Energy Foresight, an integrated platform which provides one single view and understanding of gas, power and carbon markets in Europe. The launch will come in two parts, with power and carbon capabilities accessible as of today and gas to launch […]
![bp’s First Quarter 2023 Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/02/us-bp-west-houston-source-energy-analytics-institute-scaled.jpg)
bp’s First Quarter 2023 Results [PDF Downloads]
(bp, 2.May.2023) — bp reported strong financial results in the first quarter of 2023 and the underlying replacement cost profit for the quarter was $5bn, compared with $4.8bn for the previous quarter. Highlights Underlying replacement cost profit* $5bn Underlying replacement cost profit for the quarter was $5bn, compared with $4.8bn […]
Nabors Industries Reports 1Q:23 Revenues of $779mn
(Nabors, 24.Apr.2023) — Nabors Industries Ltd. (NYSE: NBR) today reported first quarter 2023 operating revenues of $779mn, an increase of 2.5%, compared to operating revenues of $760mn in the fourth quarter of 2022. The net income attributable to Nabors shareholders for the quarter was $49mn, or $4.11 per diluted share. This compares to a loss of $69mn, or $7.87 per […]
![Global Gas Flaring Tracker Report [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2023/04/us-flaring-2023-source-the-world-bank.png)
Global Gas Flaring Tracker Report [PDF Download]
(The World Bank, 31.Mar.2023) — After a decade of little progress, global gas flaring volumes fell by around 3% in 2022. However, despite this welcome reduction, greater and sustained efforts are needed to end this wasteful and polluting practice. The growing sense of urgency in tackling global gas flaring is […]
Petrobras on Supplier Engagement in Sustainable Practices
(Petrobras, 27.Mar.2023) — Petrobras was recognized as one of the leading companies in supplier engagement by the international organization CDP, formerly known as the Carbon Disclosure Project, a reference in sustainability. The A- rating, referring to the 2022 cycle, was achieved in the Supplier Engagement Rating (SER) aspect, a global […]
Paratus Energy Services Ltd Announces 4Q:22 Trading Update
(Paratus Energy, 21.Mar.2023) — Paratus Energy Services Ltd. announced a trading update for the fourth quarter 2022 and updates on Paratus, its subsidiaries and associated companies. 1. Key Financial Highlights 1.1 Paratus In the fourth quarter ending 31 December 2022, Paratus generated $52mn in revenue and $24mn in EBITDA[1]. In the third quarter ending 30 September 2022, Paratus […]
Majors Capex Guidance Update
(Energy Analytics Institute, 23.Feb.2023) — “Despite bumper profits, the peer group is guiding towards $118bn in total investment in 2023, up just 4% on last year. This reflects the priorities of capital discipline, targeted investment in the best projects and shareholder returns – the group collectively returned $117bn to investors […]
EAI’s NRGBriefs: Feb. 2023
(Energy Analytics Institute, 23.Feb.2023) — Energy briefs as well as others related to finance and politics during February 2023 including Repsol commenting on improvement of prospects for operations in Venezuela; earnings updates and webcasts from Pemex, Noble Corporation, bp, Repsol and TotalEnergies; Venezuela reactivates first drilling rig, the PDVEN-778, in […]
How the Russia-Ukraine War is Changing Energy Markets
(WoodMac, 23.Feb.2023) — Ukraine’s battle is existential. The country has suffered a year of lost lives, its people forced to live each day in perpetual fear and witness the destruction of homes, communities and infrastructure. Millions have fled the country. Russia’s war has had a huge impact outside Ukraine, too, […]
Xodus Unveils Offshore Bird Portal to Benefit Energy Industry
(Xodus, 16.Feb.2023) — Global energy consultancy Xodus has developed a new not-for-profit portal which will support the industry in tracking birds utilising offshore platforms in the United Kingdom Continental Shelf (UKCS). The Offshore Bird Portal (OBP) is a digital data repository which will encourage the long-term collation of relevant geographic […]
High Quality Oil and Gas Supplies are Scarce, WoodMac Says
(WoodMac, 16.Feb.2023) — The energy transition will require oil and gas for decades to come, but the supply of lower-cost, lower-carbon “advantaged” barrels remain scarce, threatening emissions targets and causing upstream providers to pivot to new strategies, according to “Scraping the Barrel” a new Horizons analysis from Wood Mackenzie. Wood Mackenzie’s analysis […]
![Shell LNG 2023 Outlook [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/02/uk-lng-outlook-2023-source-shell.png)
Shell LNG 2023 Outlook [PDF Downloads]
(Shell, 16.Feb.2023) — Europe’s increased need for liquefied natural gas (LNG) looks set to intensify competition with Asia for limited new supply available over the next two years and may dominate LNG trade over the longer term, according to Shell’s LNG Outlook 2023. ____________________
Borr Drilling Reveals New Contract, Extensions
(Borr, 13.Feb.2023) — Borr Drilling Limited (NYSE: BORR) (OSE: BORR) has been awarded a new contract and two extensions for its premium jack-up drilling rigs “Ran”, “Gerd” and “Natt”. These awards increase the company’s firm backlog by approximately 625 days, excluding unexercised optional periods. The premium jack-up drilling rig “Ran” has […]
Nabors Announces Fourth Quarter 2022 Results
(Nabors, 7.Feb.2023) — Nabors Industries Ltd. (NYSE: NBR) today reported fourth quarter 2022 operating revenues of $760mn, an increase of approximately 10%, compared to operating revenues of $694 million in the third quarter of 2022. The net loss attributable to Nabors shareholders for the quarter was $69mn, or $7.87 per share. This compares to a loss of $14mn, […]
![BP Reports Profit of $27.7bn in 2022 [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2020/02/bernard-looney-profile-latamnrg-scaled.jpg)
BP Reports Profit of $27.7bn in 2022 [PDF Downloads]
(Energy Analytics Institute, 7.Feb.2023) — BP plc reported underlying replacement cost profit of $27.7bn in 2022 while reducing its net debt to $21.4bn, company officials said during the company’s quarterly webcast. “Throughout 2022, bp continued to focus on delivery of our Integrated Energy Company strategy. We are helping provide the […]
UK on Imports of Fossil Fuels from Russia
(UK Parliament, 16.Jan.2023) — The UK imported no coal or gas from Russia in November 2022. The total value of UK fossil fuel imports from Russia has fallen since Russia launched its full-scale invasion of Ukraine in 2022. It was £2.98 billion in the year to November 2022. Russia’s 2022 […]
WoodMac: Key Things to Watch in Global Upstream in 2023
(WoodMac, 12.Jan.2023) — Upstream oil and gas companies made big strides in 2022, restoring confidence and repairing balance sheets. But the challenges the industry faces will compound in 2023. Wood Mackenzie, a Verisk business (Nasdaq:VRSK), released the Global upstream: 5 things to look for in 2023 reports today. Key themes to watch for include […]
Global LNG Represents 39% of EU Gas Imports in 2022
(Kpler, 5.Jan.2023) — EU gas imports remained stable year on year last year at around 337.4 bn m3, preliminary data from the European Network of Transmission System Operators for Gas (ENTSOG) show. The bloc traditionally imports most of its gas, and it imported at least 70% of it via pipelines […]
Energy Analytics Institute’s NRGBriefs: December 2022
(Energy Analytics Institute, 31.Dec.2022) — Energy briefs as well as others related to finance and politics during December 2022 including Washington’s easing of sanctions on Venezuela resulting in increased US imports of that heavy/sour crude; twin-island country Trinidad and Tobago eying its annual energy conference in Port of Spain; Savannah […]
WoodMac’s Five Key Energy Sector Developments in 2023
(WoodMac, 8.Dec.2022) — There is no doubt that 2022 has been an extremely challenging 12 months, but as the year draws to a close, there is hope. Spiralling energy costs and the impact of Russia’s war with Ukraine have had a damaging impact on the global economy, but may also […]
UK and US Reveal New Energy Partnership
(UK Prime Minister’s Office, 7.Dec.2022) — The UK and US will work together to increase energy security and drive down prices, as part of a new energy partnership. Highlights: PM and President Biden create a new high-level bilateral group to focus on energy security, efficiency and affordability The venture will […]
UK and Allies Reveal Price Cap of $60/bbl on Russian Oil
(HM Treasury, 2.Dec.2022) — The UK, in partnership with the G7 countries, Australia and the European Union, have today agreed to set the price cap on Russian crude oil traded by firms shipping oil to third countries at $60. This price will be kept under review. The UK and its […]
Shell to Acquire Renewable Natgas Producer Nature Energy
(Shell, 28.Nov.2022) — Shell Petroleum NV, a wholly owned subsidiary of Shell plc, has reached an agreement with Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension to acquire 100% shareholding of Nature Energy Biogas A/S for nearly US$2bn (€ 1.9bn). The acquisition will be absorbed within Shell’s current […]
Höegh LNG Partners LP Reports 3Q:22 Financial Results
(Höegh LNG Partners, 17.Nov.2022) — Höegh LNG Partners LP (NYSE: HMLP-PA) reported its financial results for the quarter ended September 30, 2022. Highlights Reported for the third quarter of 2022 total time charter revenues of $36.9 mn (Q3 2021: $35.6 mn). Generated for the third quarter of 2022 operating income of $18.2 mn (Q3 2021: $27.1 mn), net income […]
Aquaterra Unveils New Tool for Long-term Integrity of CCS Sites
(Aquaterra, 15.Nov.2022) — Aquaterra Energy unveiled a new CO2 management platform that will allow for long-term monitoring and sustained integrity of underwater carbon capture and storage (CCS) sites. The integrated solution provides monitoring of both sub-surface fibre optic seismic arrays, as well as dissolved CO2 gas detection via self-powered (solar or wave), […]
bp Commends EPA for Advancing Methane Rules
(bp, 11.Nov.2022) — bp commends the EPA for advancing new rules aimed at reducing methane emissions. This is a critical step toward helping the US reach net zero by 2050 or sooner. Regulating methane will help prevent leaks throughout the industry and protect the environment. That’s why bp supports the […]
ASCO Names New UK Managing Director
(ASCO, 1.Nov.2022) — ASCO, the global integrated logistics and materials management company, has appointed Mike Pettigrew as its new UK Managing Director following the retirement of his long-serving predecessor, Glenn Hurren. Mike will take up his new role today (1 November) while Glenn will officially retire in February 2023. Having […]
Rishi Sunak’s First Speech as Prime Minister of the UK
(UK Prime Minister’s Office, 25.Oct.2022) — Rishi Sunak gave his first speech as Prime Minister in Downing Street. Good morning, I have just been to Buckingham Palace and accepted His Majesty The King’s invitation to form a government in his name. It is only right to explain why I am […]
UK Prime Minister Liz Truss Resigns
(UK Office of the Prime Minister, 20.Oct.2022) — Prime Minister Liz Truss gave a statement in Downing Street on 20 October 2022. I came into office at a time of great economic and international instability. Families and businesses were worried about how to pay their bills. Putin’s illegal war in […]
Liz Truss Believed in Markets, but the Markets Did Not Believe in Her
(The New York Times, 19.Oct.2022) — The world has just witnessed one of the most extraordinary political immolations of recent times. Animated by faith in a fantasy version of the free market, Prime Minister Liz Truss of Britain set off a sequence of events that has forced her to fire […]
Enhancing the US-UK Sanctions Partnership
(US Treasury, 17.Oct.2022) — As Directors of two of the world’s leading financial sanctions implementation authorities, we are committed to our close working relationship. As a testament to this ongoing commitment, on Thursday, 13 October 2022, OFAC and OFSI concluded a multi-day technical exchange in London between our two offices. […]
Trinidad PM Rowley’s Statement on Chats with Proman, BP & Shell
(Office of the PM of Trinidad and Tobago, 12.Sep.2022) — Ministerial interaction with oil, gas and petrochemical majors (Proman, BP & Shell) based in Europe. Proman – Zurich and Düsseldorf Proman is heavily invested in the oil and gas sector of Trinidad and Tobago in both the upstream and downstream. […]
Seadrill Limited (SDRL) – Second Quarter 2022
(Seadrill, 1.Sep.2022) — Seadrill Limited (XOAS: SDRL), a leader in offshore drilling, provides financial results for the three months ended June 30, 2022. 2Q 2022 Highlights Strong operational performance in 2Q 2022, resulting in 98% technical utilization. Total operating revenues of $284mn, operating profit of $25mn and adjusted EBITDA[1] of $75mn, representing 26.4% EBITDA margin. Cash […]
Aquadrill Announces Charter Hire Agreement for the Vela
(Aquadrill, 31.Aug.2022) — Aquadrill LLC has extended a charter hire agreement with a subsidiary of Diamond Offshore Drilling, Inc. to provide the company’s Vela rig, an MPD outfitted 7th generation drillship, for operations in the US Gulf of Mexico for a drilling contract with a minimum duration of 225 days, plus […]
CCUS Planned Capacity Nearing 1 Billion Tonnes Per Annum
(WoodMac, 26.Aug.2022) — The planned global carbon capture, utilisation and storage (CCUS) capacity pipeline has reached 905 million tonnes per annum (mtpa), with more than 50 new projects announced this quarter, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). These findings come from Wood Mackenzie’s ‘CCUS Market Update for Q2 2022’ […]
Höegh LNG Partners LP to Host 2Q:22 Results Call
(Energy Analytics Institute, 17.Aug.2022) — Höegh LNG Partners LP (NYSE: HMLP) will release its second quarter 2022 results on Wednesday 24 August 2022 before the market opens and later host a call to present the results at 8:30 a.m. (EST). The results and presentation material are available for download at http://www.hoeghlngpartners.com, […]
Bristow Completes Acquisition of British International Helicopter Services Limited
(Bristow, 3.Aug.2022) — Bristow Group Inc. (NYSE: VTOL) has completed its acquisition of British International Helicopter Services Limited (“BIH”) effective 2 August 2022, further enhancing its leading global Government Services offering. Bristow will integrate BIH into its U.K. operations, where BIH will adopt the Bristow name and brand throughout its operations. […]
APA Corp. Keeps 2022 Capex Unchanged at $1.725bn
(APA Corporation, 3.Aug.2022) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the second-quarter 2022. APA reported net income attributable to common stock of $926mn, or $2.71 per diluted share. When adjusted for items that impact the comparability of results, most notably a $129mn release of tax […]
bp on Redemption of $2.85bn of Outstanding Notes
(bp, 25.Jul.2022) — BP p.l.c. (NYSE: BP) (LON: BP) announced that its wholly-owned subsidiary BP Capital Markets America Inc. (“BPCMA”) is exercising the option to redeem the total outstanding aggregate principal amounts of the following notes on 24 August 2022 (the “Redemption Date”): BPCMA will redeem the BPCMA 2.750% Notes […]
Bristow Awarded Contract by the Maritime and Coastguard Agency
(Bristow, 21.Jul.2022) — Bristow Helicopters Ltd (NYSE: VTOL) has been awarded a £1.6bn 10-year contract for the Second-Generation Search and Rescue Aviation (“UKSAR2G”) program by the Maritime and Coastguard Agency (MCA), an executive agency of the Department for Transport. Highlights: — New 10-year contract combines existing rotary and fixed wing […]
NRGBriefs: Bristow Inks 1.6bn 10-year Deal
(Energy Analytics Institute, 21.Jul.2022) — Energy briefs including Bristow Helicopters Ltd (NYSE: VTOL) signing a £1.6bn 10-year contract for the Second-Generation Search and Rescue Aviation program; Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) terminating its option for the Libanesa Silver-Gold Project in Argentina; Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) […]
NRGBriefs: PDVSA Vassa Closure; IGU’s 2022 World LNG Report
(Energy Analytics Institute, 6.Jul.2022) — Energy briefs including the closure of PDVSA Vassa, formerly Venoco, leaving nearly a thousand workers in uncertainty; and the release of the International Gas Union (IGU) 2022 World LNG Report. NORTH AMERICA US
NEOM’s ENOWA to Boost Extreme E with Green Hydrogen Power
(NEOM, 30.Jun.2022) — Extreme E announced a multi-year relationship with ENOWA, NEOM‘s energy, water and hydrogen subsidiary, to introduce green hydrogen power to their global sustainable racing series. The announcement comes just days after NEOM, a sustainable region in northwest Saudi Arabia being built from the ground up, was revealed as the […]
Pathways to Sustainable Smelting
(WoodMac, 21.Jun.2022) — Traditional metal production is inherently polluting. According to data from Wood Mackenzie’s Emissions Benchmarking Tool, it is currently responsible for 9% of global greenhouse gas emissions. Many of the metals produced in smelting operations around the world will play a vital role in the energy transition. For […]
Shell plc 1Q:22 Euro and GBP Equivalent Dividend Payments
(Shell, 13.Jun.2022) — The Board of Shell plc announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2022 interim dividend, which was announced on May 5, 2022 at US$0.25 per ordinary share. Shareholders have been able to elect to receive their dividends in US […]