Europe ///

OEUK: A windfall tax risks reducing the UK’s energy security

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 steadies as EU stalemate deepens on Russian oil embargo

Oil eased off earlier gains with the European Union’s ban of Russian oil looking increasingly unlikely to pass.

Eni plans €2.5 billion in UK investment over four years

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.

Schroeder quits Rosneft job after pressure over Putin ties

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.

U.S. to ease sanctions on Venezuela, enabling cargoes to Europe

The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe.

Europe makes U-turn on American gas with fracing fears at bay

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.

Offshore Energies UK: ‘A windfall tax risks harming investment, home-produced energy, and jobs’

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.

DTEK’s CEO updates status of Ukraine’s energy/electricity sector

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.

North Sea Transition Authority publishes Corporate Plan for next five years

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.

EU drafts $205 billion plan to wean itself off Russian fuels

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 investing $1 billion to support UK energy security

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 urges oil majors Shell, BP to invest in renewables

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 jumps the most in three weeks as EU plans strictest ban yet

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.

EU presses to maintain unity over Putin’s rubles-for-gas demand

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 expands AI innovation network with opening of artificial intelligence center in Europe

Schlumberger announced it has expanded its global INNOVATION FACTORI network with the inauguration of a new center in Oslo, Norway.

The ESG perspective: A day without oil?

Mark Patton

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.

NSTA highlights 33 new projects at industry leaders’ meeting

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 confirms oil and gas discovery at Hamlet in the North Sea

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.

EU warns Russian gas buyers that ruble payments breach sanctions

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.

Russia is using gas deliveries as a ‘weapon,’ Bulgaria says

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.

Executive viewpoint: Texas oil and gas can save Europe—again

Wayne Christian

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.