ISSN 2753-7757 (Online)

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Oil and gas

Oseberg offshore platform

1/2/2023 News

Norwegian tax break will increase gas and oil supply to Europe

The energy crisis in Europe triggered by the ongoing war between Russia and Ukraine has left the continent short of hydrocarbon supplies and increasingly reliant on LNG imports. However, Norway is expected to increase oil and gas supplies to Europe following a record-breaking sanctioning boom on the Norwegian Continental Shelf (NCS), reports Rystad Energy.

Green hydrogen

Head and shoulders photo of Olivia Breese, CEO, Power-to-X for Ørsted

17/1/2024 Comment / Olivia Breese

Balancing supply and demand is key to kickstarting the green hydrogen sector

Olivia Breese, CEO of Power-to-X for Ørsted, calls for a two-pronged approach to kickstart green hydrogen development for decarbonising hard-to-abate sectors like shipping, aviation and steelmaking.

Energy prices

Close up of gas burner with blue flames

11/1/2023 News

EU finally agrees deal on gas price cap

European Union (EU) energy ministers finally agreed last month on a temporary mechanism to limit excessive gas prices, which sky-rocketed following Russia’s incursion into Ukraine in early 2022. Meanwhile, Russia announced that it would ban oil exports to countries imposing the oil price cap agreed in December by the EU, G7 nations and Australia.

Wind

24/5/2023 News

Ireland’s first licensing round awards 3 GW of offshore wind

Ireland recently announced the provisional results of the country’s first offshore wind auction under the Renewable Electricity Support Scheme (ORESS 1). The round surpassed market expectations both in terms of the total volume of renewable energy procured and the low price at which it was secured. Meanwhile, the UK government has unveiled plans for improved rewards and benefits to be offered to communities backing onshore wind farms in the UK.

Oil and gas

Nodding donkey in the desert

30/4/2025 News

Saudi shale gas predicted to cut crude burn, while BP heralds new West African LNG production hub

Emerging sources of natural gas are shifting established patterns of supply and demand in Africa and the Middle East. In Saudi Arabia, crude burn – the direct use of crude oil in power plants and industrial facilities, primarily for electricity generation– has long been commonplace. The Kingdom burns significant volumes of oil to meet domestic electricity demand, which hovers around 171 TWh. However, analysis from Rystad Energy shows the upcoming Jafurah shale gas field, set to start production in 2025 and said to be the largest of its kind globally, could dramatically shift this dynamic. Meanwhile, BP has loaded the first cargo from the Greater Tortue Ahmeyim LNG project offshore West Africa.

Electricity

Electricity pylon in foreground with blue and yellow sky behind

14/9/2022 News

Electricity prices dictated by gas producers

Natural gas is the main driver of electricity prices across Europe, recent research published by London university UCL has confirmed. The studies also note that despite gas providing under half of the total electricity in the UK, in recent years it set electricity costs 84% of the time.

Energy prices

Close up of gas ring alight

16/8/2023 News

Analysis argues UK government should scrap energy price cap

Although introduced with the best intentions, the UK’s energy price cap (EPC) has gone far beyond its intended purpose and is actively harming competition, leading to higher prices for consumers and higher inflation, according to the latest analysis from the Centre for Policy Studies (CPS).

Energy policy

View of Houses of Parliament, London

19/10/2022 News

UK government introduces new Energy Prices Bill

The UK government has introduced new emergency powers that will ensure consumers across the country receive help with their energy bills this winter.

Energy markets

Wind turbines and solar panels

29/6/2022 News

Low carbon technologies needed at pace and scale for fast and deep decarbonisation

The challenges and uncertainties facing the global energy system are at their greatest for almost 50 years, according to BP’s latest review of world energy statistics, with growing shortages and increasing prices highlighting the continuing importance of energy security and affordability alongside lower carbon when addressing the energy trilemma.

Coal

Two huge coal extracting machines working alongside one another on top of open coal mine

26/7/2023 News

Australian coal exports remain constrained despite lifting of Chinese restrictions

Australia is expected to reap mixed benefits from the lifting earlier this year of China’s unofficial ban on imports of Australian coal. Meanwhile, the country is reportedly leading the global market for battery energy storage systems, and has declared a new area as suitable for future offshore wind development.

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