Fossil Energy
Climate change targets on OGCI, Shell, and Biden’s menu
The Oil and Gas Climate Initiative (OGCI) has revealed a target to reduce the collective average carbon intensity of member companies’ aggregated upstream oil and gas operations to between 20 and 21 kilograms of CO2 emissions per barrel of oil equivalent by 2025, from a collective baseline of 23 kg
Aker Solutions to spin off offshore wind and carbon capture tech divisions
As it plans to merge with its compatriot Kværner, Aker Solutions also intends to spin off its wind development business as well as the carbon capture technology business. The move should see two separate companies listed on the Oslo Stock Exchange. “Aker Solutions has developed technology and taken
Aker Solutions merging with Kværner, names new CEO
Norwegian firms Aker Solutions and Kværner have entered into a merger plan to create an optimized supplier company. The consolidation will take the form of a statutory merger whereby Aker Solutions will absorb Kværner, in accordance with the Norwegian Public Limited Liability Companies Act. Kjetel D
OPEC boosting oil production next month, wary of second COVID-19 wave
The Organization of the Petroleum Exporting Countries and its allies, also known as OPEC+, have agreed to curb oil supply from August as the global economy recovers from the COVID-19 pandemic.
Vår Energi picks up where it left off with offshore drilling activities
Vår Energi is resuming its drilling activities in the Barents Sea and the North Sea, which were postponed this spring due to the corona pandemic and oil price collapse.
Deltic Energy rejects takeover offer from compatriot oil & gas investment firm
UK-based Deltic Energy, previously known as Cluff Natural Resources, has received and unequivocally rejected a takeover offer from the compatriot oil & gas investment firm Reabold Resources.
Transocean gets contract termination in UK, expects delays in drillship delivery
Transocean has received a contract termination for its semi-submersible Paul B. Loyd Jr. in the UK. Furthermore, Transocean said that the delivery of the Deepwater Atlas drillship from a Sembcorp Marine yard could be delayed.
Odfjell takes over drilling and maintenance ops at ConocoPhillips’ Ekofisk
Offshore driller Odfjell Drilling has taken over platform drilling and maintenance operations at ConocoPhillips’ Ekofisk Area in the North Sea, offshore Norway.
Number of oil and gas wells set to hit 20-year low, Rystad says
The COVID-19 pandemic has stymied oil and gas activity, a phenomenon which has now affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment.
All eyes on OPEC meeting with production cuts on the agenda
OPEC, Russia, and other oil producers are set to meet on Wednesday to decide on the oil output policy from August onward.
AREG and OGUK support industry efforts to achieve net zero emissions
Aberdeen Renewable Energy Group (AREG) and OGUK have signed a reciprocal membership agreement to reflect the aligned goals of supporting the energy industry to achieve net zero emissions. AREG, the membership body for renewable energy in the north east of Scotland, and OGUK, the leading trade body f
Kazakhstan player gets approval to take over Caspian Explorer drilling vessel
Caspian Sunrise has received regulatory and shareholder approvals for the acquisition of the Caspian Explorer drilling vessel.
G20 governments firmly behind fossil fuels with $151 billion in COVID-19 recovery policies
A total commitment of at least $151 billion from G20 governments in support of fossil fuels has been made available in their energy recovery policies, data from the Energy Policy Tracker shows.
OKEA takes interest in Equinor’s Aurora discovery
OKEA has signed a sales and purchase agreement with Equinor for the acquisition of Equinor’s 40 per cent operated working interest in two licences offshore Norway, which include the Aurora discovery.