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Latest news - International

Scottish Government announces Green Industrial Strategy

Scottish Government announces Green Industrial Strategy   The Green Industrial Strategy announced today (September 11) identifies areas of strength and opportunity for Scotland in the move to a net-zero energy system. It outlines what the Scottish Government and partners will do to create a positive environment for investment and growth. Scottish Renewables, the trade body for Scotland's renewable energy industry, first called for a Green Industrial Strategy more than two years...

Craig International invests seven-figure sum as part of drive to become a more responsible business, reducing use of fossil fuels by 30%

Craig International invests seven-figure sum as part of drive to become a more responsible business, reducing use of fossil fuels by 30%   Craig International has invested a seven-figure sum to bolster its sustainable business practices as it steps up efforts to decarbonise its operations and align with global net zero targets. The procurement specialists to the energy industry, which is passionate about supporting the sector’s drive towards net-zero and demonstrating the rol...

Oil producer APA Corp to sell Permian assets for $950 mln

Oil producer APA Corp to sell Permian assets for $950 mln   U.S. oil and gas producer APA Corp, said on Tuesday it would sell non-core Permian-based drilling properties to an undisclosed buyer for about $950 million as it looks to cut down its debt pile. Consolidation in the sector hit a record $51 billion in the first quarter as energy companies rush to expand their oil and gas drilling inventories, especially in the top U.S. shale field, the Permian Basin. The Houston-bas...

OPEC+ to Begin Oil Production Increase in 2025

OPEC+ to Begin Oil Production Increase in 2025   According to the vice president of research at S&P Global, OPEC+ has decided to extend production cuts until the end of 2024. The alliance then plans to start adding supply to the market in 2025. Weak oil demand, particularly in China, and concerns about slowing economies contributed to the market's bearish sentiment. The OPEC+ group will begin adding supply to the market in 2025, for the first time since 2022, Jim B...

Cegal Wins the 2024 Oracle Partner Awards – Cloud/Technology Innovation Category

Cegal Wins the 2024 Oracle Partner Awards – Cloud/Technology Innovation Category   A Nordic partner has won the prestigious Oracle Awards Innovation Category for the first time. Oracle recognizes prize winner Cegal’s ability to develop and deliver pioneering solutions through partnering with Oracle. At Oracle CloudWorld last night, Oracle announced that Cegal is a winner in the 2024 Oracle Partner Awards— Cloud/Technology Europe North East Innovation Category. Thi...

Glencore's ex-head of oil appears in UK court on bribery charges

Glencore's ex-head of oil appears in UK court on bribery charges   Glencore's former head of oil Alex Beard appeared in a London court on Tuesday to face bribery charges relating to the Swiss commodity trader's operations in Africa. Beard will plead not guilty, his lawyer said at London's Westminster Magistrates' Court. The 57-year-old is charged with two counts of conspiracy to make corrupt payments to government officials and officials of state-owned oil co...

‘Significant’ Southern North Sea acreage for Australian firm in UK’s licensing round

‘Significant’ Southern North Sea acreage for Australian firm in UK’s licensing round   ASX-listed Hartshead Resources has received a letter of offer and license documentation for six new licenses covering ten blocks as part of the UK’s oil and gas licensing round awarded by the country’s regulator, the North Sea Transit Authority (NSTA). According to the Australian firm, three licenses – P2669, P2670, and P2678 – have been formally awarded...

Serica Energy plc - Results for the six months ended 30 June 2024

Serica Energy plc - Results for the six months ended 30 June 2024   Serica Energy plc, a British independent upstream oil and gas company with operations in the UK North Sea today announces its unaudited financial results for the six months ended 30 June 2024. The results are included below and copies are available at www.serica-energy.com and www.sedar.com. Chris Cox, Serica's CEO, stated: "I am delighted to introduce my first set of results as Serica CEO. Prior to joi...

Oil firms vow to fight judicial review of North Sea oil and gas projects

Oil firms vow to fight judicial review of North Sea oil and gas projects   Two of Europe’s biggest oil companies have vowed to fight two legal cases brought by environmental campaigners against their plans to develop new oil and gas projects in the North Sea. Shell and Equinor have said that they will defend their plans to develop new North Sea projects despite Labour’s decision to withdraw government support for the plans, which were approved by the Conservatives over...

Subsea7 reveals Shell behind ‘sizeable’ Gulf of Mexico EPCI contract

Subsea7 reveals Shell behind ‘sizeable’ Gulf of Mexico EPCI contract   Following the announcement of a “sizeable” contract award in mid-August with an unknown client, Luxembourg-domiciled Subsea7 has now revealed that the contract is for Shell’s waterflood project in the U.S. Gulf of Mexico. Subsea7 will provide engineering, procurement, construction, and offshore installation (EPCI) of a water injection flowline, hull piping, and associated subsea inf...

GNPC CEO Calls for Strategic Collaboration and Innovation at West African Energy Summit 2024

GNPC CEO Calls for Strategic Collaboration and Innovation at West African Energy Summit 2024   Accra, Ghana – At the opening of the West African Energy Summit 2024, Joseph Dadzie, Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), delivered a compelling keynote addressing the urgent need for strategic collaboration and innovation in the region’s energy sector. Speaking to a distinguished audience of industry leaders, government officials, and inter...

Shell, BP slip as oil heads for worst week in a year

Shell, BP slip as oil heads for worst week in a year   Shares in FTSE 100 heavyweights Shell PLC and BP PLC slipped on Friday as oil prices appeared to head towards their largest weekly decline in almost a year. At US$72.65 a barrel on Friday morning, Brent crude had fallen more than 8% over the course of the week, white West Texas Intermediate was down 9% at US$69.17. This was in spite of news the OPEC+ cartel would delay a planned increase in production from October to Decembe...

Talos Energy Announces New Discovery and Adds Additional 2024 Prospect in the Gulf of Mexico

Talos Energy Announces New Discovery and Adds Additional 2024 Prospect in the Gulf of Mexico   Talos Energy Inc. ("Talos") today announced that its Ewing Bank 953 well ("EW 953 well") successfully discovered commercial quantities of oil and natural gas. Separately, Talos entered into an agreement to participate in the Sebastian prospect, currently drilling in the Mississippi Canyon Block 387 of the U.S. Gulf of Mexico. The EW 953 well encountered approximately 1...

Citi says Brent crude oil could fall as low as $50 / barrel

Citi says Brent crude oil could fall as low as $50 / barrel   Citi forecasts oil prices could drop to $60 per barrel next year if OPEC+ doesn't increase production cuts. Then, from $60, prices could fall further to $50 before rebounding, influenced by financial flows. Geopolitical tensions are having minimal long-term impact on oil prices, with weaker rebounds after each spike. Markets now see these tensions as opportunities to sell during temporary price increases. Ci...

Brand Energy & Infrastructure Services (Brand) Advertorial

Brand Energy & Infrastructure Services (Brand) Advertorial   Access innovation offshore   Innovation in the offshore access sector has never been greater, with leading international provider of access and specialised services for operators, Brand Energy & Infrastructure Services (Brand) – part of the BrandSafway Group – right at the cutting edge. OGV Energy met with Brand UK Offshore Director David Strang to discover how its innovative products are...

Six companies apply for North Sea CO2 storage acreage

Six companies apply for North Sea CO2 storage acreage   Norway’s Ministry of Energy received applications from six companies in connection with the country’s June 6 launch of North Sea acreage for potential CO2 storage on the Norwegian shelf. Norway’s Ministry of Energy received applications from six companies in connection with the country’s June 6 launch of North Sea acreage for potential CO2 storage on the Norwegian shelf. Exploration licenses are...

Russia finds huge oil and gas reserves in British Antarctic territory

Russia finds huge oil and gas reserves in British Antarctic territory   Russia has found huge oil and gas reserves in British Antarctic territory, potentially leading to drilling in the protected region. The reserves uncovered contain around 511bn barrels worth of oil, equating to around 10 times the North Sea’s output over the last 50 years. The discovery, per Russian research ships, was revealed in evidence submitted to the Commons Environment Audit Committee last week....

Auction success puts offshore wind back on track

Auction success puts offshore wind back on track   ScottishPower statement on the results of the sixth allocation round (AR6) of the Contracts for Difference scheme Keith Anderson, ScottishPower CEO said: “Offshore wind is back on track after last year’s misstep which is great news for consumers.  The only solution to weaning the UK off volatile fossil fuels which are the root cause of increasing bills is more clean, green energy. “This auction’s suc...

Libya’s oil shutdown causes over $120M in losses

Libya’s oil shutdown causes over $120M in losses Production and exports halted after eastern government’s response to dispute over who controls central bank, with oil output falling dramatically   Libya’s National Oil Corp. said Thursday that the losses incurred due to a decision by the eastern government to shut down oil and gas operations in the country have exceeded $120 million over the course of three days. In a statement, the corporation, which controls t...

Arrow Exploration’s latest horizontal well exceeds expectations

Arrow Exploration’s latest horizontal well exceeds expectations   Arrow Exploration Corp told investors that its third horizontal well, CNB HZ-4 at the Carrizales Norte project’s B pad, has flowed in excess of 2,500 barrels of oil per day. The well was spudded in late July 28, reached its target depth in early August and has entered production. It is an expectation-beating result, and Arrow noted that production continues to increase. A stabilised production rate...
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