The COVID-19 pandemic has triggered one of the most disruptive periods on record for energy markets, with almost a third of global oil demand wiped out as millions stayed home amid lockdown measures and travel bans.
This article is intended as a quick legal guide of some key points for busy Energy executives who need to manage business risk exposure when global supply chains are disrupted.
Potential pitfalls await those unprepared for the push towards diversification from conventional energy writes Gregory Brown, Maritime Strategies International.
COVID-19 has changed the world in many ways and energy hasn’t been excused. In early 2020, there was a perfect storm of excess supply and massive reductions in demand. Since then, the market has become far more balanced and the oil price seems to be tightly bound in a narrow price range.
My sources are indicating that the UK Government’s Energy White paper will make much of the role of hydrogen, particularly as a replacement fuel for space heating.
I like this. Despite Donald Trump’s vitriolic hatred of turbines. In August, more than 100 governors, mayors and government officials across 40 American states declared their support for the wind industry during American Wind Week 2020.
As we head into the autumn with renewed uncertainty on how the coronavirus pandemic will manifest, and continued concerns for our families, our community, our businesses and the economy it is a constant reminder that change is the norm like never before.
The North Sea represents some of the best-in-class and most innovative work of the oil and gas industry. Here, significant progress in reducing gas flaring is already making a vital contribution towards delivering “net zero”, and Norway stands out as genuinely world-class.
The infamous heavyweight boxer Mike Tyson once said, “everyone has a plan until they get punched in the mouth”. Perhaps the same could apply to the national net-zero plan - a strategy that appears lost in what most will agree are the more sudden and painful issues of Brexit and the Covid pandemic?
As most science nerds will know hydrogen is the most abundant element in the universe. It’s everywhere we look although the vast majority is out of reach until we develop the ability to travel at warp speed. Yes, I admit it. I am a Star Trek fan.
In February I wrote about the challenges and opportunities of the energy transition, prompted by a speech by Oil and Gas Authority chairman Tim Eggar.
The failure to bring even a fraction of the Seagreen windfarm contracts to Scottish yards is a scandal on several levels and politicians should unite to insist on a forensic inquiry into how it happened – yet again.
In a world where control and COVID together seem an oxymoron, Steve Bruce, Product Director at Idox shares his insights into where and how energy players can exert tighter control over projects to reduce cost and risk.
The transition towards a clean energy future has begun. Following on governments’ footsteps, many leading energy companies are publicly announcing their commitments for 2050. These commitments include targets to reduce greenhouse gas emissions, lower environmental impact and mitigate climate-related risks associated with their business activities. While these targets are for the long term, most companies have started to develop and execute near-term action plans to ensure they progress toward their stated goals. At the same time, they are assessing the risks and opportunities arising from their plans and seek to understand the impacts on their operations and markets.
The European Union is committed to achieving net-zero emissions by 2050. To support this, Brussels plans to create a €225 billion green bond as part of a shift towards cleaner economies.
Using freelancers has been common practice, particularly among the creative industries, for many years. When you can’t find, can’t afford or don’t need specific skills full-time, the freelancer can provide the perfect solution. In fact, even if you can find and afford in-house employees, freelancers still present an attractive option because they can bring certain expertise when you need it most.
As the UK prepares for a potential second national lockdown, it’s forgivable that some people might argue ‘now is not the time’ to address climate change and the wider ESG agenda. In my view, the challenges we’ve all faced over the last year reinforce the need for the business community to take action right now and lead from the front.
“It's been a bad time for me I must admit, a horrendous time.” That’s how Tony*, a former drilling maintenance supervisor from Dundee, describes the impact this year has had on him as an offshore worker.
The number of class actions being pursued in the UK is on the rise and has been for several years but there remains a learning curve.
Boris Johnson must act now to accelerate decarbonisation projects or risk losing thousands of skilled engineers essential for delivering the UK’s net zero infrastructure.
I read with keen interest Sanjoy Sen’s recent Energy Voice article that criticizes me for causing dithering to the UK’s pathway to net zero. I would challenge much of his narrative and assertions.
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.’
Energy Voice recently reported on Shetland Islands Council's ambitions to retain more tax revenue from oil and gas operations around the isles in its self-determination bid. Jon Fitzpatrick, managing director of consultancy Gneiss Energy, gives his view.
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.
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…