(RCB Fund, 24.Oct.2023) — RCB Fund Services LLC, the Distribution Agent for the BP plc Fair Fund, announces the opening of the claims process for the BP Fair Fund for Ordinary Shareholders. The United States Securities and Exchange Commission (SEC) established the BP Fair Fund to distribute funds to investors […]
Category: UK
UK
Scotland: TotalEnergies Commissions Its Biggest Offshore Wind Farm
(TotalEnergies, 17.Oct.2023) — TotalEnergies and its partner SSE Renewables announced that their Seagreen offshore wind farm is now fully operational and running at its design capacity of 1,075 MW. Seagreen is a joint venture between TotalEnergies (51%) and SSE Renewables (49%). It is located in the North Sea, some 27 […]
EAI’s NRGBriefs: Sep. 2023
(Energy Analytics Institute, 30.Sep.2023) — Energy briefs as well as others related to finance and projects during Sep. 2023 including Petrobras saying that in regards the process of divestment of the LUBNOR refinery that it continues to strictly comply w/ the purchase and sale agreement; SilverCrest Metals Inc. filing an […]
New Offshore Colombian Developments Face Challenges: WoodMac
(WoodMac, 28.Sep.2023) — Offshore development of new gas assets has been identified as a key piece to Colombia’s long-term energy security, but significant challenges remain. The size, production capability and required infrastructure investments all make the situation uncertain, according to a recent report from Wood Mackenzie. The report finds that […]
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Rosebank Field to Progress in the UK [Video]
(Equinor, 27.Sep.2023) — Equinor and Ithaca Energy have taken the final investment decision to progress Phase 1 of the Rosebank development on the UK Continental Shelf (UKCS), investing $3.8bn. The North Sea Transition Authority (NSTA) granted consent for the development of the field on 27 September. “Developing the Rosebank field […]
Scotia and RAND Europe Convene a Historic Framing Session
(The Scotia Group, 20.Sep.2023) — A High-Level UNGA consultative session on international finance and energy transition diplomacy, which included sitting and former Heads of State and Government, as well as experts from the RAND Corporation and members of the Scotia Group, was convened on 18 September 2023 by international mediation and energy law […]
Kate Thomson Appointed as bp Interim CFO
(bp, 19.Sep.2023) — bp today announced that Kate Thomson has been appointed interim chief financial officer. Her appointment follows the appointment last week of Murray Auchincloss as bp’s interim chief executive officer. Kate is currently bp’s senior vice president, finance for production & operations, responsible for the financial stewardship of […]
Eni UK Reveals Award of Second UK CO2 Storage License
(Eni, 15.Sep.2023) — Eni announces that its subsidiary in the United Kingdom (Eni UK) has been awarded a Carbon Dioxide Appraisal and Storage Licence (CS Licence) by the North Sea Transition Authority (NSTA) for the depleted Hewett gas field located 20 km offshore from Bacton, in the Southern North Sea […]
BP CEO Looney to Resign After Personal Relationships with Colleagues
(Reuters, 12.Sep.2023) — BP CEO Bernard Looney has stepped down after less than four years in office for failing to fully disclose details of past personal relationships with colleagues, the company said on Sept. 12. BP CFO Murray Auchincloss will act as CEO on an interim basis after Looney stepped […]
Bristow and Volocopter to Bring UAM Services to US and UK
(Bristow, 7.Sep.2023) — Bristow Group Inc. (NYSE: VTOL), a global provider of innovative and sustainable vertical flight solutions, and Volocopter, the pioneer of Urban Air Mobility (UAM), have signed an agreement to explore and develop passenger and cargo services for electric vertical takeoff and landing (eVTOL) aircraft in the U.S. and […]
UK to Struggle to Meet Ambitious 2030 CCUS Targets
(WoodMac, 5.Sep.2023) — The global CCUS project pipeline is buoyant but scaling up needs concerted and consistent effort from governments. Only a handful of countries have policy and regulation ready to adopt CCUS today and the United Kingdom (UK) is one of them, says Mhairidh Evans, Head of CCUS Research […]
STRYDE Launches In-field Data Service
(STRYD, 24.Aug.2023) — STRYDE unveiled its new, novel integrated in-field data processing service, STRYDE Lens. This innovative solution is tailored to offer expedited access to interpretation-ready subsurface images, facilitating quicker decision-making. Coming just a little over a year following the introduction of the firm’s data processing service, this solution for […]
Getech Releases Globe 2023 with New Capabilities for Resource ExplorationÂ
(Getech, 23.Aug.2023) — Getech, a locator of subsurface resources, has released a new version of its proprietary digital platform, Globe. Globe models the last 400 million years of Earth’s evolution into c. 40,000 layers of geological data that facilitate the exploration of subsurface resources, including critical minerals, natural hydrogen, petroleum, […]
Investment of $27bn Needed to Mobilize Offshore Wind Supply Chain
(WoodMac, 17.Aug.2023) — The global offshore wind supply chain will require $27bn of secured investment by 2026 if it is to meet a fivefold growth in annual installations (excluding China) by 2030, according to latest Horizons report by Wood Mackenzie, a global insight business for renewables, energy and natural resources. […]
Authorities Approve JV between Aker Solutions, SLB and Subsea7
(Aker, 4.Aug.2023) — Reference is made to the stock exchange release 30 August 2022 regarding the agreements to form a subsea joint venture with SLB and Subsea 7. Closing is subject to regulatory approvals. Following clearance as of today by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have […]
TotalEnergies Named Most-admired Explorer by WoodMac
(WoodMac, 27.Jun.2023) — French major TotalEnergies has been named the upstream industry’s most-admired explorer and received the Discovery of the Year award in Wood Mackenzie’s industry-leading annual Exploration Survey. Dr. Andrew Latham, Senior Vice President, Energy Research, at Wood Mackenzie, said “For the third time in our industry-leading survey, TotalEnergies has received […]
Should Gas Resource Holders Target LNG Exports or Blue Ammonia?
(WoodMac, 15.Jun.2023) — As Europe moves away from Russian gas and Asia reduces its dependency on coal, demand and investment in liquefied natural gas (LNG) continues to rise. But according to “Stick or twist: Should gas resource holders target LNG exports or blue ammonia?”, a new Horizons report from Wood Mackenzie, the acceleration of the energy transition […]
Aker Awarded first SWIFT™ Contract by Equinor
(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 […]
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 UpdateÂ
(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]
(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 ÂŁ2.98 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 2023Â
(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 […]