Appetite exists for new oil and gas exploration west of Shetland but vital infrastructure will be needed to make good on the region’s potential resources, according to Offshore Energies UK (OEUK).
A handful of North Sea oil and gas schemes have been included in a list of infrastructure projects the UK Government is aiming to fast track.
Wood Mackenzie researchers say the government’s windfall tax measures are likely to wipe around 20% off the value of North Sea operators on average, with the impact largely dependent on current tax and investment status.
Equinor is hoping its £8 billion Rosebank project can “trigger” wider electrification across the West of Shetland region.
The former CEO of BP, who warned the industry of its impact on the climate 25 years ago, has said rising calls to cease new oil and gas in the North Sea should be tempered amid a need for homegrown supply.
Greenpeace said its position on the controversial Cambo field “hasn’t changed” and that it still intends to pursue legal action if development goes ahead, as partner Shell looks to offload its stakes in the project.
Oil giant Shell (LON:SHEL) has begun a hunt to find a buyer for its stake in the controversial Cambo field in the UK North Sea, according to reports.
Britain needs to keep developing new oil and gas fields in the North Sea even as it rolls out major offshore wind and carbon capture and storage projects across the country, according Shell’s (LON: SHEL) UK head of upstream.
There has been no change to Shell’s stance on Cambo and it still has no intention to progress the field, the company’s chief executive has confirmed.
The price of energy will increase further if oilfields like Cambo do not go ahead, a UK Government minister has warned.
North Sea firm Siccar Point Energy is nearing a decision on how best to proceed with its West of Shetland Tornado project.
Following the approval of Shell’s Jackdaw field, analysts are weighing in on whether the move signals an acceleration on reported government plans to “fast track” key North Sea fields.
Equinor has been handed an extension to the Rosebank licences – paving the way for an investment green light.
Ithaca Energy said the government's new windfall tax could accelerate the timeline for planned North Sea capex as the company looks to cash in on the investment relief.
Ithaca Energy will make its IPO in London “as soon as possible” this year, according to parent firm Delek Group.
The North Sea and West of Shetland has 48 known discoveries with 2.3 billion barrels of oil equivalent, and new research has shed light on the challenges in getting them developed.
The Tory energy secretary was dealing with 100 campaign messages a day as climate activists fought to block the controversial Cambo oil field expansion off Shetland.
Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history.
UK Prime Minister Boris Johnson will meet with key oil and gas producers to discuss the industry’s role in shoring up the country’s supplies, following up on a new energy security strategy announced by the government earlier this month.
The group leading the charge against the controversial Cambo field has launched a new campaign targeted at Shell’s Jackdaw gas field in the North Sea.
Key North Sea oil projects currently in the pre-final investment decision (FID) phase could deliver nearly 1.5 billion barrels, according to new research.
The chairman of Ithaca Energy, soon to be the new operator of the controversial Cambo oilfield, has said the firm wants open dialogue with environmentalists and other parties on its future.
Environmental groups say a change of ownership at the controversial Cambo development will not alter the prospects for what they call a "doomed" field, following news that Ithaca Energy will acquire operator Siccar Point.
Ithaca Energy has struck a deal to buy Siccar Point Energy, operator of the controversial Cambo project, for just shy of $1.5 billion.
I recently heard a BBC Scotland reporter state, almost as a throw-away “fact” about energy problems arising from the Ukraine war, that Scotland is, of course, unaffected because we produce more power than we consume.