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Wholesale power prices expected to remain high for winter

Wholesale power prices expected to remain high for winter: The latest Cornwall Insight forecasts suggest winter wholesale power prices are to remain at their high levels, with the potential for price spikes in periods of high demand and low wind, as margins look tight for the winter ahead. The key driver of power prices will…
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Scotland’s offshore wind farm gets jacket foundations

Scotland’s offshore wind farm gets jacket foundations: Jacket foundations for what will develop into Scotland’s biggest offshore wind farm have reached the Port of Nigg in Cromarty Firth. Jacket foundations, settled in the seabed, are the framework that support offshore wind turbines. The jacket elements are to be set up as part of the foundations…
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Government to ban financing fossil fuel plans overseas

Government to ban financing fossil fuel plans overseas: The UK will halt financing overseas fossil fuel projects starting 31st March, succeeding a trailblazing North Sea Transition Deal settled between the government & the oil and gas sector. This new agreement will have policymakers & industry invest as much as £16b in renewables, hydrogen & carbon…
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£31m granted for safe carbon storage off Aberdeenshire

£31m granted for safe carbon storage off Aberdeenshire: An enterprising new project to supply safe carbon storage capacity off Aberdeenshire, in the North Sea, is being awarded over £31 million of UK Government funding. Situated in Peterhead, it will help the advancement of Scotland’s Net Zero Infrastructure project, to provide important onshore & offshore engineering…
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UK CCS project invested into by Japanese trading house

UK CCS project invested into by Japanese trading house:  It has been announced by the Japanese trading house Mitsui & Co Ltd that they will invest in the development of carbon capture and storage (CCS) projects in Britain. Developing the Acorn CCS project the company has purchased a 15.4% share in Storegga Geotechnologies. The investment…
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A fifth of North Sea oil firms to make more workforce cuts

A fifth of North Sea oil firms to make more workforce cuts: Nearly a fifth of North Sea oil & gas companies forecast to carry out further redundancies in 2021. This is according to a current survey done by Aberdeen and Grampian Chamber of Commerce in cooperation with the independent research area of the University…
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