Optimism with reservation
In a highly political year, defined by Brexit and climate change and culminating in a general election, you will forgive me for corrupting a slogan from our former prime minister to describe the last 12 months.
Every Christmas the Oxford Dictionary announces its word of the year. This year it’s ‘climate emergency’. Over the last twelve months there has been a rapid acceleration in climate activism around the world.
Aberdeen and Grampian Chamber of Commerce’s 31st Oil and Gas Survey painted a positive picture for the oil and gas sector.
Liquefied natural gas (LNG) prices across the globe are being described as low currently, with some sections of the media reporting that spot prices in Asia have dropped to seasonal lows as we embark on what could be a mild winter.
The North Sea is known for adapting to change and this year has demonstrated an indication of resilience in the sector. Confidence has slowly returned to a market which has changed dramatically in the last five years.
The opportunities and challenges of green energy investment have been gently simmering under the surface for decades. However, the past year has seen the temperature rise on environmental issues, which may have brought both the challenges and opportunities to a boiling point.
A turbulent year of extreme weather events and global politics has drawn to a close with the stark warning from scientists that climate change is happening faster than previously predicted.
It has been a busy and positive 12 months for AREG, with the diversity of our members continuing to grow.
2019 has been a year where the energy transition has very much come to the fore.
Yesterday, the inauguration of world’s most powerful turbine, GE’s Haliade-X, was held in Rotterdam.
Climate change and the target of achieving net zero carbon emissions by 2035 is having a significant impact on the energy sector, and that trend will continue for the foreseeable future.
New research identifies why women fail to advance—and suggests what the industry can do about it.
2019 will be seen as the year in which the international offshore industry staged its comeback against the seemingly unstoppable force of US shale.
When Shell pulled out of London Array offshore wind project in 2008, it probably didn’t realise it would mean more than 10 years in the UK offshore wind wilderness.
The $1.7 billion hit to Tullow Oil Plc’s market value on Monday — a 65% drop — provides a stark reminder of why bosses shouldn’t stay too long at the top. The hydrocarbon producer has been stubbornly overoptimistic about its prospects. Reality has now dawned, and it turns out the London-based group is in an extremely tight position.
John F Kennedy once said: “Change is the law of life. And those who look only to the past or present are certain to miss the future.”
When analysing Guyana’s production sharing agreements (PSAs), it is important not to be misled by statements comparing Guyana’s 2% royalty with higher royalties in other countries (set on average at about 10%-15%).
Along with renewables, energy efficiency, nuclear, land reform, BECCS, biofuels and batteries I am convinced that hydrogen will be key enabler to deliver net zero.
The imperative to tackle our contribution to climate change is driving activity towards the energy transition faster than most of us thought possible.
Thirty years ago, legislation to privatise Scotland’s electricity industry was completing its passage through parliament. It created outcomes which were never intended and are ripe for review.
This year has seen much greater and very welcome stability return to the oil and gas industry, thanks in no small part to a reduction in oil price volatility that has plagued the sector in recent years.
The Danish philosopher Soren Kierkegaard said, “Life can only be understood backwards; but it must be lived forwards.”
News last week that Russian firm Zarubezhneft was being considered for the development of an offshore oil concession in Oman brought into sharp focus the lack of update provided since the country’s 2019 bid round closed in May.
Well I think 2019 has been a terrible year.