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Agreement by Centrica to safegaurd winter energy supplies

Agreement by Centrica to safegaurd winter energy supplies Centrica has collaberated with Equinor to steady the energy crisis due to rising energy bills and the war in Ukraine. The signed settlement will see the Norwegian energy firm bring an extra 1 billion cubic metres of gas supplies to the UK for each of the next…
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North sea oil and gas threatened by Windfall tax

North sea oil and gas threatened by Windfall tax The implementation of the new windfall tax creates uncertainty over future investment, Shell has stated. In its recent set of cost-of-living measures, the government included a windfall tax on energy firms that could possible increment around £5 billion. Energy companies will have to pay an extra…
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Kwasi Kwarteng pushes energy bosses to reinvest profits

Kwasi Kwarteng pushes energy bosses to reinvest profits: The Business Secretary has written to the oil and gas industry requesting it to design a plan to help ease the rising cost of living by reinvesting its profits. The government intends to initiate a further North Sea licensing round in the autumn, considering the climate compatibility…
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£50K fine by shell for breaching production consents

£50K fine by shell for breaching production consents The UK’s oil and gas regulator fined Shell UK £50,000 for breaching five field production consents. The North Sea Transition Authority (NSTA) said it lifted concerns two years ago that the company was deemed unsuccessful to comply with the maximum and minimum volumes specified in the managment…
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The UK may be reliant on energy imports within 15 years

The UK may be reliant on energy imports within 15 years: Offshore Energies UK (OEUK) published a report that warns that the UK will keep importing more gas and oil from foreign countries in the future unless the decline in investments in the sector reverses. An industry body warned that production of all UK oil…
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North Sea oil & gas production to be boosted

North Sea oil & gas production to be boosted: The government has indicated a rise in oil & gas productivity within the North Sea to overcome inflation & soaring energy costs. An interview featured on BBC’s Newsnight, the Chief Secretary to the Treasury Simon Clarke stated: “The government is going to set out the energy…
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Equinor’s Martin Linge offshore field has officially opened

Equinor’s Martin Linge offshore field has officially opened: Marte Mjs Persen, Norway’s Energy and Petroleum Minister, has officially opened the Martin Linge field in the North Sea. The recoverable resources are estimated to be around 260 million barrels of oil equivalent, and the field is expected to produce around 115,000 barrels of oil equivalent, primarily…
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High prices and ‘profiteering’ are blamed on Russia, according to Brits

High prices and ‘profiteering’ are blamed on Russia, according to Brits: The top two drivers of the gas problem affecting the UK are the behaviour of energy corporations attempting to earn an excessive profit and the Russian government. According to a new study conducted by the Energy and Climate Intelligence Unit (ECIU), 28% of the…
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Emerson supports North Sea hydrogen project

Emerson supports North Sea hydrogen project: Emerson’s automated systems are assisting in the acceleration of technology development for a hydrogen project in the North Sea. The PosHYdon project is a pilot that attempts to test the combination of offshore wind power, offshore natural gas, and offshore hydrogen production at sea, providing sustainable fuels by utilising…
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