WorldOil First oil Another mixed outlook awaits the EandP sector EU’s lending arm to phase out funding of fossil fuels The European Investment Bank plans to stop funding fossil fuels starting in 2021 as Europe steps up the fight against climate change, according to a draft of the EIB’s new energy strategy. Aker BP completes drilling of wildcat northeast of the North Sea's Alvheim field Aker BP ASA, operator of production license 442, has completed the drilling of wildcat well 25/2-21 (Liatårnet). New CEO appointed at EnerMech EnerMech, the Aberdeen-headquartered provider of specialist services to the energy and infrastructure sectors, has today announced that John Guy has been appointed as CEO, succeeding company founder Doug Duguid, who will assume the role of deputy chairman. Improved reservoir recovery anticipated for Norway’s Gudrun field with new investment The Gudrun partners have decided to invest in a water injection plant on the Gudrun field to improve reservoir recovery. This will extend the field life by three years compared to the original plan. Equinor drills dry Norwegian well west of Johan Sverdrup Equinor Energy AS, operator of production licence 502, has completed the drilling of wildcat well 16/5-7. Decommissioning in Shetland expands with the arrival of more North Sea structures The Dales Voe decommissioning facility in Shetland is one step closer to becoming a center of excellence for recycling offshore structures from the North Sea with the arrival of two new installations for decommissioning by strategic partners Veolia and Peterson. Norwegian Petroleum Directorate reports high activity in the first six months of the year Production on the Norwegian shelf is holding steady at a high level. Many projects are in the development or planning phases. Aker BP strikes oil in the NOAKA area, offshore Norway Aker BP is about to complete the Liatårnet exploration well in license 442 in the NOAKA area. The well has proved oil with a gross resource estimate of 80-200 MMboe. Britain raises Gulf shipping threat to highest level possible Britain raised the threat level to the highest possible for ships operating in the Persian Gulf as tensions escalate in a region accounting for a third of seaborne petroleum trade.