Category: UK
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UK signals readiness for oil & gas tax shift with £50 billion energy investment in play
UK signals readiness for oil & gas tax shift with £50 billion energy investment in play Britain’s trade body for the offshore energy industry, Offshore Energies UK (OEUK), has taken steps to engage in talks with the UK government to strike a deal and unlock multibillion-dollar energy industry investment boost by replacing the energy profits levy…
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Major oil & gas operators facing 48-hour strike across multiple UK offshore assets
Major oil & gas operators facing 48-hour strike across multiple UK offshore assets With more than 400 offshore members employed by Bilfinger UK poised to embark on industrial action due to a dispute over pensions, operators including BP, CNR, Ineos, Ithaca, and TAQA will experience a two-day stoppage at dozens of offshore installations on the…
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Methanol and shore power recipe to unlock Newcastle – Amsterdam green shipping corridor
Methanol and shore power recipe to unlock Newcastle – Amsterdam green shipping corridor Given the growing zest for specific routes where vessels employ low-emission propulsion, a new study has assessed the technical and commercial feasibility of introducing a green shipping corridor between Newcastle and Amsterdam. The post Methanol and shore power recipe to unlock Newcastle…
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£1.5 billion enables UK-US pair to get their hands on Europe’s giant LNG terminal
£1.5 billion enables UK-US pair to get their hands on Europe’s giant LNG terminal Centrica and U.S. investment firm Energy Capital Partners (ECP), part of Bridgeport Group, have brought into their fold a liquefied natural gas (LNG) terminal in Kent County, United Kingdom. The post £1.5 billion enables UK-US pair to get their hands on Europe’s…
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UK underwater market hits £9.4 billion: Project delays place offshore energy supply chain at risk
UK underwater market hits £9.4 billion: Project delays place offshore energy supply chain at risk Global Underwater Hub (GUH), the trade and development body representing the UK’s multibillion-dollar subsea sector, has undertaken a new study for the nation’s underwater sectors, which emphasizes that frequent delays to offshore energy and infrastructure projects threaten the viability of…
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DeepOcean winding down North Sea FPSO disconnection gig for TotalEnergies
DeepOcean winding down North Sea FPSO disconnection gig for TotalEnergies DeepOcean is close to crossing the finish line for an assignment in the North Sea, which entails the disconnection and tow of a floating production, storage, and offloading (FPSO) vessel, alongside the removal of associated subsea infrastructure on the UK Continental Shelf (UKCS). The post…
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Fourfold boost in store for UK’s wind-powered gas and hydrogen storage project with license submission
Fourfold boost in store for UK’s wind-powered gas and hydrogen storage project with license submission England-based energy transition-focused player EnergyPathways has handed in an application for an enlarged gas storage license, covering the natural gas and hydrogen storage elements of its flagship project, located off the Cumbria coast in the East Irish Sea. The post Fourfold…
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Shell, BP, Ithaca, GE Vernova book Valaris’ five rigs for oil & gas and offshore wind jobs
Shell, BP, Ithaca, GE Vernova book Valaris’ five rigs for oil & gas and offshore wind jobs Bermuda-incorporated offshore drilling contractor Valaris has divested one mobile offshore drilling unit (MODU) from its fleet and found multimillion-dollar assignments for five rigs within the oil and gas and offshore wind realms. The post Shell, BP, Ithaca, GE Vernova…
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UK firm set on quadrupling gas and hydrogen energy storage capacity with new license push
UK firm set on quadrupling gas and hydrogen energy storage capacity with new license push With energy storage capacity growth in mind, EnergyPathways, the England-based energy transition-focused player, is moving forward with its expansion aspirations by pursuing new storage license applications for its proposed large-scale offshore wind-powered energy storage project in the East Irish Sea.…
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BP is on a roll with sixth major project up and running: More North Sea oil & gas unlocked
BP is on a roll with sixth major project up and running: More North Sea oil & gas unlocked UK-headquartered energy giant BP has brought online an oil and gas field in the North Sea, which is developed as a subsea tie-back to an existing platform on the UK Continental Shelf (UKCS). The post BP…
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50% oil & gas North Sea boost on the UK’s table with cost savings and net zero within reach
50% oil & gas North Sea boost on the UK’s table with cost savings and net zero within reach With the United Kingdom’s government currently at a crossroads as it faces a critical decision over banning new North Sea exploration licenses or embracing a so-called science-backed approach that curbs emissions, Wood Mackenzie, an energy intelligence…
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UK workers’ strike threat pays off: 130-strong North Sea crew endorses pay boost with CNOOC
UK workers’ strike threat pays off: 130-strong North Sea crew endorses pay boost with CNOOC With the wage growth mission spreading its wings across North Sea platforms, offshore workers have increasingly turned to potential industrial action pursuits to get better pay deals in the UK’s offshore energy sector, as illustrated by the latest wage win…
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NatPower to build UK’s first battery storage with maritime electrification infrastructure
NatPower to build UK’s first battery storage with maritime electrification infrastructure Renewable energy project developer NatPower has set out to build the UK’s first battery storage facility combined with maritime electrification infrastructure, Teesside GigaPark. The post NatPower to build UK’s first battery storage with maritime electrification infrastructure appeared first on Offshore Energy. Ajsa Habibic Go…
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The era of oil in maritime is ending, UK government’s forecasts show
The era of oil in maritime is ending, UK government’s forecasts show The UK’s Department for Transport has published new long-term forecasts showing a major shift in the way goods move through British ports, with oil and fossil fuel traffic expected to collapse while ferries, roll-on/roll-off (RoRo) and container shipping surge. The post The era…
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UK chooses winners of Clean Maritime Demonstration Competition 6
UK chooses winners of Clean Maritime Demonstration Competition 6 The UK government has allocated a £30 million (about €34.4 million) funding to decarbonize shipping and power up local economies. The post UK chooses winners of Clean Maritime Demonstration Competition 6 appeared first on Offshore Energy. Naida Hakirevic Prevljak Go to offshore energy biz
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UK’s new guidance sheds light on North Sea oil & gas game as application window opens
UK’s new guidance sheds light on North Sea oil & gas game as application window opens In the wake of a Supreme Court ruling, marking the first inclusion in Britain’s history of greenhouse gas (GHG) emissions from the combustion of oil and gas in environmental impact assessments (EIAs) for hydrocarbon extraction projects, the United Kingdom…
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Cost hike prompts alternative concept search for second UK-Belgium interconnector
Cost hike prompts alternative concept search for second UK-Belgium interconnector Given the recent increases in the cost of high-voltage direct current (HVDC) infrastructure, a new approach will be devised to construct the next phase of an energy island envisioned to be built some 45 kilometers off the Belgian coast, including the development of a second…
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Drop in UK oil & gas players’ profits prompts calls for tax changes to amplify investments
Drop in UK oil & gas players’ profits prompts calls for tax changes to amplify investments Offshore Energies UK (OEUK), has urged the government to take action on the energy profits levy (EPL), known as the windfall tax on oil and gas profits, by next year to put all ingredients in place to secure jobs, energy…
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EU-UK set course for deeper cooperation on maritime safety, CCS, hydrogen
EU-UK set course for deeper cooperation on maritime safety, CCS, hydrogen The European Commission and the UK have reached a Common Understanding that outlines a […] The post EU-UK set course for deeper cooperation on maritime safety, CCS, hydrogen appeared first on Offshore Energy. Nadja Skopljak Go to offshore energy biz
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Gas uptick for Shell’s North Sea development project
Gas uptick for Shell’s North Sea development project Shell has disclosed better porosity and permeability than previously assumed for its natural gas discovery in the North Sea, which is situated on the UK Continental Shelf (UKCS). This led the firm’s partner, Deltic Energy, to reveal a boost in recoverable gas volumes from the project. The post…
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‘Pragmatic’ offshore energy investment policy key to ensure UK’s supply chain stays put
‘Pragmatic’ offshore energy investment policy key to ensure UK’s supply chain stays put With research showing that nine out of ten companies perceive business playgrounds in other countries as better suited for investment and growth, Britain’s trade body for the offshore energy industry, Offshore Energies UK (OEUK), has warned the UK government about the looming uncertainty…
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Port of Tyne invests in UK’s first fully electric foiling pilot vessel
Port of Tyne invests in UK’s first fully electric foiling pilot vessel UK’s Port of Tyne has purchased the country’s first fully electric foiling pilot vessel in line with the Government’s Maritime 2050 strategy, reinforcing the port’s “commitment to innovation, sustainability, and a cleaner future for the maritime sector”. The post Port of Tyne invests…
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Delays in plug & abandonment work may put $5.5 billion on UK decom tab
Delays in plug & abandonment work may put $5.5 billion on UK decom tab With investor confidence taking a hit in the aftermath of political and fiscal woes, hydrocarbon exploration in a slump, and supply chain costs likely to rise, a postponement of plug and abandonment (P&A) assignments could hike the UK’s decommissioning bill by…
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UK oil & gas duo mulling over potential merger
UK oil & gas duo mulling over potential merger Serica Energy and EnQuest have taken steps to engage in talks over a potential business combination that has the opportunity to create a bigger combined company with a total market capitalization of nearly $1 billion. The post UK oil & gas duo mulling over potential merger…
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US renews Serica’s North Sea field sanction exemption
US renews Serica’s North Sea field sanction exemption UK-based upstream oil and gas player Serica Energy has secured an extension of a sanction waiver from the United States Office of Foreign Assets Control (OFAC) for its field in the UK sector of the North Sea. The post US renews Serica’s North Sea field sanction exemption…
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NKT patches up UK-Netherlands cross-border interconnector after power outage
NKT patches up UK-Netherlands cross-border interconnector after power outage Following a power outage, NKT has restored to working order a cross-border interconnector, which connects the electricity markets of the UK and the Netherlands via subsea cable. The post NKT patches up UK-Netherlands cross-border interconnector after power outage appeared first on Offshore Energy. Melisa Cavcic Go to…
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Gneiss: More UK production, fewer LNG imports key to meeting demand and keeping emissions at bay post-2030
Gneiss: More UK production, fewer LNG imports key to meeting demand and keeping emissions at bay post-2030 Gneiss Energy, a UK-based strategic and corporate finance advisory firm operating within the energy and natural resources sectors, has published a report on the potential negative effects the UK’s gas policy discouraging investments in local gas production could…
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Multi-billion projects at stake: Another blow for UK’s largest untapped oil & gas duo but Shell, Equinor, and Ithaca remain upbeat
Multi-billion projects at stake: Another blow for UK’s largest untapped oil & gas duo but Shell, Equinor, and Ithaca remain upbeat Which side will come on top is not yet clear, but it is unlikely that either will throw in the towel at this late stage in the UK’s oil and gas saga without a…
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Batch of onshore and offshore drilling jobs brings $513 million to KCA Deutag
Batch of onshore and offshore drilling jobs brings $513 million to KCA Deutag KCA Deutag has landed new multimillion-dollar drilling assignments and extensions across the Middle East, Africa, Latin America, and the UK. The post Batch of onshore and offshore drilling jobs brings $513 million to KCA Deutag appeared first on Offshore Energy. Melisa Cavcic…
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Noble rigs score more work with TotalEnergies, BP, and TAQA as Inpex opts for early termination
Noble rigs score more work with TotalEnergies, BP, and TAQA as Inpex opts for early termination Noble Corporation has secured further work for two floaters in Nigeria with France’s TotalEnergies and in the UK with TAQA while one of its jack-up rigs also got more work in Britain with BP. However, Inpex has decided to…
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UK’s new fiscal regime keeps North Sea gas project ‘robust and high value’ but alternate export route on the table
UK’s new fiscal regime keeps North Sea gas project ‘robust and high value’ but alternate export route on the table ASX-listed Hartshead Resources and Viaro Energy, through its wholly-owned subsidiary RockRose Energy, are working on progressing the development of their gas project in the UK sector of the North Sea. The post UK’s new fiscal…
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Development moves forward but pending court verdict could spell the end for UK’s giant oil & gas projects
Development moves forward but pending court verdict could spell the end for UK’s giant oil & gas projects As the climate crisis intensifies, so do legal challenges for hydrocarbon projects, especially in the United Kingdom (UK), where two North Sea operators and climate activists are locked in a court battle with the potential to put…
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UK’s offshore oil & gas decom bill to hit £24.6 billion by 2033
UK’s offshore oil & gas decom bill to hit £24.6 billion by 2033 Offshore Energies UK (OEUK) has outlined in its new report that decommissioning work could account for 22% of the cumulative oil and gas spend over the next ten years. The post UK’s offshore oil & gas decom bill to hit £24.6 billion…