Billions of pounds of investments aimed at building the UK’s net zero energy infrastructure could be diverted to other countries if politicians keep threatening to impose windfall taxes, the chief executive of Offshore Energies UK warns.
Oil eased off earlier gains with the European Union’s ban of Russian oil looking increasingly unlikely to pass.
The pledge will see 80% of the planned spending go to carbon capture and renewable energy projects, and the remaining 20% to oil and gas production, according to the report.
Former German Chancellor Gerhard Schroeder is quitting his post as chairman of Russian state-owned oil company Rosneft PJSC after widespread calls for him to cut ties to Russian President Vladimir Putin over the invasion of Ukraine.
The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe.
The war in Ukraine has prompted Europe to reshape its energy policy, and once-snubbed U.S. LNG is now a key part of a European Union’s strategy to wean itself off Russian gas expected to be outlined this week.
Commenting on the vote on the Queen’s Speech, Offshore Energies UK External Relations Director Jenny Stanning said it is essential to attract investment into North Sea projects to support the UK's energy security and the energy transition.
In a weekly online briefing on Thursday, May 12, DTEK CEO Maxim Timchenko discussed Ukraine’s energy security. He provided an update on energy sector operations and restoration of electricity supply amid the Russian invasion.
The North Sea Transition Authority, formerly known as the UK Oil & Gas Authority, published its Corporate Plan outlining how it will support the industry for the next five years.
The European Union’s executive arm is set to bolster renewables and energy savings goals as part of a 195 billion-euro ($205 billion) plan to end its dependency on Russian fossil fuels by 2027.
Neptune Energy announced it will spend more than $1 billion over the next five years securing energy supplies for the UK and speeding the transition to net zero.
Boris Johnson urged the oil majors BP Plc and Shell Plc to invest “massively” in renewables to shore up the U.K.’s energy security, as soaring prices squeeze household budgets.
Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows.
European Union energy ministers tried to project a united front Monday in rejecting Russia’s demands to buy gas in rubles as the bloc tries to prevent Vladimir Putin from sowing divisions in the bloc.
Schlumberger announced it has expanded its global INNOVATION FACTORI network with the inauguration of a new center in Oslo, Norway.
Things are beginning to move a little quicker in ESG reporting and standards. Recently, the International Sustainability Board published its first two proposals on development of global standards.
The annual performance review for the UK’s top producers highlighted 33 new projects targeting 1.3 billion barrels of oil and gas which will significantly bolster the country’s energy security.
Neptune Energy and its partners discovered up to 24 million recoverable barrels of oil equivalent at the Hamlet exploration wells (PL153) in the Norwegian sector of the North Sea, the company and its partners announced.
European Commission President Ursula von der Leyen warned companies not to bend to Russia’s demands to pay for gas in rubles, as the continent scrambles to respond to Moscow’s move to start switching off supplies.
European gas prices surged more than 20% as Russia’s Gazprom PJSC confirmed that it halted gas flows to Bulgaria and Poland, saying it will keep supplies turned off until the two countries agree to Moscow’s demand for rubles -- a dramatic escalation with Europe as its invasion of Ukraine presses forward.
The EU should be buying LNG from friendly countries like America, Australia, and other Western democracies to meet their firm generation needs. It’s dependable, affordable, and cleaner than coal.