The current energy transition is shaking the foundations upon which the oil and gas industry is built. In the UK, one such foundation is the Oil and Gas Authority’s maximising economic recovery UK (MER UK) strategy.
Oil and gas companies do have some advantages in terms of tackling the energy transition, but there are pitfalls along the way and the process will be messy, speakers at a CMS event launching a new report said.
European and Chinese oil and gas firms are well ahead of US rivals in the energy transition race, new research has found.
Following the result of the general election, we can now expect to leave the EU at the end of January, although very little will change on that date as we will move into a transitional period when existing EU rules and trade terms continue to apply in the UK.
The UK oil and gas industry’s regulator is ready to wield its powers to tackle the “transaction drag” hindering efforts to get oilfields into the right hands.
Reviewing the past year is made much easier for me by our annual publication on legal developments in oil and gas, the latest edition of which came out in September.
As decommissioning becomes a significant part of activity on the UK Continental Shelf, more businesses are taking the opportunity to expand their existing offerings to include decommissioning-related services.
The last couple of weeks have been busy ones for the offshore wind sector in the UK.
The Oil and Gas Authority’s (OGA’s) probe into a capacity dispute between two operators shows the regulator is walking a difficult tightrope, an Aberdeen lawyer said.
Carbon capture, usage and storage (CCUS) is often described as a key part of energy transition, with the ability to reduce greenhouse gas emissions from existing energy supplies.
One of the big challenges facing the UKCS is the need to increase the amount of exploration activity – the eight exploration wells drilled in 2018 represented the lowest level of activity since 1965, although there have been some notable recent successes such as the massive Glengorm gas discovery announced by Total in January and the technical success rate over recent years has averaged more than 50%.
While the UKCS continues to thrive, with oil production in 2018 the highest since 2011, news of the launch of Fairfield Decom is also evidence of the evolving decommissioning market.
The winds of change continue to sweep across the renewable energy sector. Technology is moving forward rapidly with step-changes in the size, capacity and efficiency of wind turbines.
Following a period of relatively low deal activity, in 2018 we started to see an uptick in deals – but that has paused slightly since the oil price fall at the end of 2018. Are there more deals to be done, or has oil price volatility cooled off the M&A market? What do the trends and themes seen in some of the latest UKCS M&A deals tell us?
Judges have whittled down dozens of applicants to reveal the shortlist for terrific teams and tremendous teachers at the north-east’s most prestigious HR awards.
Since the Arab Spring in 2011, the Middle East and North Africa (MENA) region has faced continued political upheaval. But energy production and export remains central to its prosperity.
Many businesses have been preparing for months for Brexit, but in hope and expectation there would be a withdrawal agreement under which we would have 20 months of transition to implement plans for our ultimate exit.
Nigeria is the largest economy in Africa and one of the most popular sub-Saharan states to have received foreign investment from European, US and Chinese investors over recent years. It is one of the world’s larger oil producing countries, with daily production of nearly two million barrels, more than twice that of the UK. It has been a member of the Organisation of Petroleum Exporting Countries (OPEC) since 1971.
At Oil & Gas UK and Decom North Sea’s Decommissioning Conference in St Andrews in November there was a presentation about the potential for decommissioning to contribute to the circular economy, and in particular the need to move our focus from recycling to re-use.
In the era of Trump and Brexit it’s a risky business trying to second guess what the future might hold, especially when it comes to the UK ‘s often volatile oil and gas sector. There are, however, some developments we can look back on from the last 12 months in trying to assess what might lie in store over the course of 2019.
Germany is in the process of transitioning away from nuclear and fossil fuels towards a low carbon, environmentally sound, reliable and affordable energy policy.
Decommissioning is now a significant part of the landscape of activity in the UKCS – annual decommissioning expenditure has topped £1 billion since 2015 and may come close to £2bn when Oil and Gas UK reports its estimate for 2018 later this month.
Three north and north-east firms have been singled out for special praise in an annual review of the UK’s legal market.
The Scottish Government published Scotland’s first Energy Strategy in December last year.
A new support programme has been launched targeted at North Sea technology start-ups to maximise their potential.