Barclays Eagle Labs, in partnership with Opportunity North East (ONE), a private sector group delivering transformational projects in the north east of Scotland, and CodeBase, the UK’s largest technology incubator, is launching an EnergyTech initiative to accelerate innovation in the UK Energy sector.
It is hard to believe it is 10 years since we started Apollo, and on the other hand, it’s hard to believe it’s not more. What a journey! Filled with excitement, challenge, opportunities, great clients and a fantastic bunch of people that have got us to where we are today.
The leading representative body for the UK’s offshore oil and gas industry has hailed the grit and resilience of the thousands of people working for the critical sector as it opened nominations for its annual awards today.
After reporting a $5 billion loss, Malaysian national oil company (NOC) Petronas is eager to see new money flow into its domestic upstream sector, especially as the majors, such as ExxonMobil, seek to exit the Southeast Asian nation.
ExxonMobil's UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the US oil giant seeks to exit the aging region altogether, according to people with knowledge of the matter.
One of Britain's biggest gas networks has called on the Government to allow it to mix 200 times more hydrogen into gas that is pumped into homes across the country, a move that it says would reduce carbon emissions by six million tonnes a year.
Earlier this year the UK Government announced that onshore wind would be eligible to compete in the fourth Contracts for Difference (CfD) allocation round in 2021, a welcome outcome which will help ensure onshore developments will play a prominent role in the ‘green recovery.’
The Covid-19 pandemic has devastated global oil and gas project sanctioning this year and will cause total committed spending to drop to around $53 billion from 2019’s $190 billion, Rystad Energy says.
This week, BP projected that global demand for oil may have peaked in 2019 and that we shouldn’t ever expect demand to recover to pre-COVID-19 levels. On the face of it, BP’s analysis is stark, with global demand for oil reducing in all three of its scenarios over the next thirty years.
by Stuart Broadley, CEO, Energy Industries Council
Common sense tells us that the UK is a small island with depleted oil & gas reserves and high costs, and that businesses should be growing their export focus to survive and prosper. We all accept this, but the stats are now telling…