“The cost of getting things done is astronomically higher for oil and gas than for the greener projects,” he said. “In the longer term it’s bullish for prices, as not enough investment is going into the areas where it should be.”
“Personal claims against directors may be a potential area of growth. Directors will have to take the threat seriously, as they have an impact on their professional and personal lives,” Calvert warned.
Bracewell’s managing partner in London Jason Fox said this was not new “but the noose is tightening quickly and ESG is the headwind. It’s not just the E that’s biting but also the G, for governance, with banks increasingly retreating from emerging markets because of additional risks, particularly concerns around corruption.”
The continent’s two biggest oil producing nations have made recent reforms to their upstream regulatory regimes, which were been long awaited and the changes largely well received.
Egypt will host the COP27 shindig come November. The country has made clear it is working on bolstering domestic energy production – with a particular focus on clean energy.
It is feared the ballooning cost of raw materials will “definitely be a stumbling block” to the deployment of green energy projects.
European energy security faces a seemingly impossible task of meeting short-term demand with longer-term decarbonisation. Society does not have the luxury of declaring this to be impossible, though, so must take steps now to meet the challenges.
Leading energy lawyers say clients have enquired whether the government’s windfall tax would withstand legal challenges, as the consultation process draws to a close.
Europe needs new sources of energy, particularly zero carbon energy, while Namibia offers abundant solar and wind. Can hydrogen bridge the gap, providing scope for both to prosper on the route to net zero?
The Middle East’s oil and gas has put the region at the heart of the energy sector the last 100 years. These resources, plus plentiful sunshine, will see it continue to play a major role into the energy transition – but there will be bumps along the way.
Energy Voice talks to Jason Fox, Managing Partner, London, and Alastair Young, Partner, at Bracewell (UK) LLP on the future of North Sea investment as Brent crude oil remains at around $100.
In a recent judicial review decision, two judges in an English court considered an application by Friends of the Earth (FoE) to quash UK Export Finance’s (UKEF) decision to provide export finance to the Mozambique LNG Project.
As the US Congress has spent the last year debating a slate of proposals to accelerate the transition to a clean energy economy, clean hydrogen has come to the forefront as an energy source that offers a politically and economically feasible path towards decarbonisation.
The energy transition is seen as marking a shift away from the “bad old” habits of the fossil fuel industry, but accessing the strategic resources pose their own often-overlooked problems.
Nigeria has passed its Petroleum Industry Act (PIA), marking a major step in the country’s push to become more attractive as a destination.
Jobs, financing and green technology in the US were all topics of hot debate during Energy Voice’s New Energy Opportunities (NEO) event yesterday.
Plans for ammonia exports are taking shape around the world, as companies compete to secure the most attractive opportunities to fuel future zero carbon aspirations.
The Nigerian Senate and House of Representatives have passed the Petroleum Industry Bill (PIB) in a bid to draw in more investment, from foreign and domestic sources.
The energy transition will come in a variety of forms, but playing a critical role will be offshore wind, carbon capture utilisation and storage (CCUS), and hydrogen.
If energy demand is shifting away from fossil fuels, the most economically rational move for governments is to maximise development of resources now.
Special purpose acquisition companies (SPACs) are having a moment in the sun in the US and the UK is considering how best to secure a piece of the action.
Foreign investors have become increasingly concerned about Tanzania since the election of John Magufuli to the presidency in 2015.
African states trying to secure domestic energy infrastructure have tended to struggle with creditworthiness, which makes project financing more difficult.
Pandemic-driven lockdowns have taken their toll on small companies in every sector, while larger companies can take a longer view on matters, including in the LNG sector.
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.