As part of the UK’s 2023 Spring Budget, £20 billion (nearly $24.2 billion) funding has been unveiled to scale up carbon capture and storage (CCS) projects. The energy industry sees this funding as a way to speed up decarbonisation across the UK and step up the shift towards renewables.
Norway’s Statnett has decided to reduce the maximum capacity on the 1,400 MW North Sea Link interconnector between Norway and the UK in order to make a balance for import and export. Capacity will be set to a maximum of 1,100 MW in both directions, from the installed capacity of 1,400 MW, and will b
Shell remains the world’s most valuable oil and gas brand for the ninth consecutive year, however, Aramco is closing the gap.
The Norwegian Ministry of Petroleum and Energy has rejected the license application for the construction and operation of a 1.4 GW overseas interconnector between Norway and the UK. The ministry reported on 16 March that after an overall assessment, it had come to the conclusion that there is no bas
UK’s Prax Exploration & Production has reached an agreement with compatriot Hurricane Energy for the acquisition of the North Sea-focused company for approximately £249 million. Hurricane Energy is focused on fractured basement reservoirs offshore West of Shetlands on the UK Continental Shelf and ho
Norway’s FPSO operator BW Offshore has completed the sale of a floating, production, storage, and offloading (FPSO) vessel to a buyer, whose name was not revealed.
Westwood has advised buyers to be mindful of exploration farm-outs, after analysing the results of 419 high-impact exploration wells drilled outside the U.S. and Canada between 2017 and the end of October 2022.
Oil Spill Response Limited (OSRL) has welcomed a new CEO, who previously worked in various executive positions at BP.
UK-headquartered and AIM-listed oil and gas player Europa Oil & Gas picked a new Chief Executive Officer (CEO), after its current one decided to resign.
Norwegian oilfield services provider Aker Solutions has selected Spain-headquartered Tubacex as the delivery partner for umbilical tubes for projects on the Norwegian Continental Shelf (NCS). Under the agreement, Tubacex will deliver a total of 1,000 kilometers of umbilical offshore tubes to Aker So
Solstad Offshore has sold an anchor handling tug supply (AHTS) vessel to a buyer, whose identity has not been revealed.
Nel Hydrogen Electrolyser, a subsidiary of Norway’s Nel ASA, and German HH2E have signed a contract for 120 MW of alkaline electrolyser equipment, with a value of approximately €34 million. The contract follows a Front End Engineering and Design (FEED) study and a Letter of Intent (LoI) from the two
Canada’s oil and gas player Trillion Energy has drilled another well in its 2022 – 2023 drilling campaign on a natural gas field in the Black Sea off Türkiye.
While the transition to low-carbon energy is making strides, the oil majors in Europe and the U.S. have made progress at a different pace.
