ISSN 2753-7757 (Online)

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Oil and gas

Engineer on offshore platform walkway

3/7/2024 News

New DNV survey highlights an oil and gas sector paradox

The oil and gas industry is facing a ‘petroleum paradox’ – balancing increasing global demand for its petroleum products alongside growing pressure to transition to low-carbon energy sources in order to reduce emissions and tackle climate change. Many in the sector are diversifying their portfolios by investing in alternative energy sources and technologies; Shell recently provided an update on a planned carbon capture project in Alberta, Canada.

Energy policy

UK Chancellor Jeremy Hunt lifting budget box in Downing Street

13/3/2024 News

UK budget extension of windfall profits tax disappoints leading offshore energy industries body OEUK

Among a raft of tax measures introduced by UK Chancellor Jeremy Hunt in his Spring Budget to fund a 2 pence national insurance cut for the average worker, disappointment was expressed by OEUK about a windfall tax extension, and by other parties on the lack of significant focus on measures to develop the energy transition, improve energy efficiency and tackle energy poverty. New Energy World Features Editor Brian Davis reports.

Methane

Engineer monitoring methane emissions

16/3/2022 News

OGCI aims for zero methane emissions from oil and gas operations by 2030

The Oil and Gas Climate Initiative (OGCI) has launched an Aiming for Zero Methane Emissions Initiative which calls for an all-in approach that treats energy industry methane emissions as seriously as the industry treats safety.

Decommissioning

Aerial view of Pioneering Spirit removing Shell’s Brent Alpha topsides

30/11/2022 News

New UK oil and gas decommissioning cost efficiency target

A new cost efficiency target for redundant oil and gas infrastructure has been set by the North Sea Transition Authority (NSTA) that it claims will not only benefit the UK Treasury but will also free up money to be invested in energy security and the transition to net zero.

Energy policy

UK Prime Minister Liz Truss outside No 10 Downing Street

14/9/2022 News

New UK Prime Minister unveils new energy bills support package

Just days after being announced as the new UK Prime Minister, Liz Truss set out a package to support people and businesses with their energy bills, as well as action that aims to tackle the root causes of the issues in the UK energy market through increased supply.

Oil and gas

Offshore platforms off the coast of Scotland at sunset

2/8/2023 News

UK government green lights more North Sea drilling

The UK government is pressing ahead with oil and gas exploration plans in the North Sea, confirming it will grant hundreds of new licences in a bid to boost British energy independence and grow the economy, despite fierce resistance from environmentalists. It has also confirmed that the Acorn and Viking projects will be the UK’s third and fourth CCUS clusters.

COP

Head and shoulders photo of Peter Godfrey

2/8/2023 Comment / Peter Godfrey

Strategic intervention is needed to reshape global energy markets

We will continue to require fossil fuels for years to come, but we cannot rely on the shareholders of oil and gas companies to lead the energy transition – their investors will never let them. Here, Peter Godfrey FEI, the Energy Institute’s Managing Director Asia-Pacific, argues reforms of global markets will be needed for the transition to really gather pace.

Greenhouse gases

Distant view of oil sand operations showing plant and cranes and vapour cloud from stack

13/11/2024 News

Canada introduces draft regulations to cap oil and gas emissions

The Canadian government has introduced draft regulations to cap greenhouse gas (GHG) emissions from the oil and gas sector. The proposed new cap-and-trade system aims to reduce emissions by 35% below 2019 levels.

Energy policy

Offshore wind turbine during construction

12/3/2025 News

No new oil and gas licences, but more wind and hydrogen: UK government unveils new North Sea vision

The UK government is consulting on plans to make the North Sea ‘a world-leader in offshore industries, such as hydrogen, carbon capture and wind’. It is also looking to provide the oil and gas sector with ‘long-term certainty on the fiscal landscape’ by ending the Energy Profits Levy and developing a new regime to boost investment in jobs and growth.

Law and Legal practice

A group of people sitting at a table in a courtroom

20/11/2024 News

Shell wins appeal against court order to cut GHG emissions

Shell has won its appeal against a landmark 2021 court ruling that had ordered the company to reduce its absolute greenhouse gas (GHG) emissions by 45% by the end of 2030. Environmental organisations seeking to accelerate climate action through litigation decried the ruling, vowing to continue their efforts.

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