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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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