A new report from law firm CMS finds that 75% of energy companies are considering an acquisition and/or divestment this year, as European energy M&A sees its strongest performance in 15 years.
A trio of high-profile losses is unlikely to stem “concerted attempts” by protestors to challenge the North Sea oil industry in court.
Nigeria is the largest economy in Africa, with the government highly dependent on oil revenues. As such, Nigerian National Petroleum Corporation (NNPC) is crucial to the country and the state.
It’s been 20 years since Ørsted (at that time called Dong Energy, and very much a major oil & gas company) commissioned Vindeby in Denmark, which was the world’s first offshore wind farm. It took another 10 years from this modest start (5MW, powering just 2,200 homes) for the offshore wind industry to really start to take off.
With COP26 now in the rear-view mirror, Energy Voice has assembled a panel of experts to give their verdicts on whether the summit really was a climate change turning point.
A unique aspect of how the oil and gas industry operates is the concept of the mutual hold harmless indemnity – this is a legal tool for risk allocation by which each party to a contract agrees to take the risk of injury to its own personnel or damage to its property even if caused by the other party.
There were some welcome developments during COP26, not least the deal announced between the US and China to work together to limit global temperature rises to 1.5C, in line with the 2015 Paris Agreement.
If anyone needed any evidence that decommissioning is accelerating they need only look at the BEIS table of approved decommissioning programmes.
As we approach the COP26 Climate Conference which begins in Glasgow on 31st October, it feels as if the oil and gas industry has never been more in the political spotlight.
Would you have guessed that the OGA has already been with us for six years? The extensive powers it was given in the Energy Act 2016 have been in force for nearly five years: those include the ability to impose sanctions on companies for breaching a licence or their obligations under that act, or for failing to comply with the OGA Strategy.
Bosses from all corners of the energy sector have shared their thoughts on the UK Government’s flagship Hydrogen Policy.
We think of the sea as being a large empty space but the energy transition is changing the UK’s seascape radically.
There is no doubt that the UK’s energy market is changing rapidly. In 2020, renewable energy accounted for 43% of the UK’s electricity generation. For the first time, clean power generated more electricity than fossil fuels.
Hydrogen is a trending topic in any discussion of the energy transition. Blue hydrogen (from methane) is viewed as a potential transition fuel as we move to a low carbon economy. The OGA strategy which came into force in February requires licensees to ensure that technologies are deployed to enable hydrogen supply projects to be developed. But what would hydrogen be used for and is there a market for it?
Campaigners have brought a legal challenge to the UK Government for supporting plans they claim are “unlawful” for North Sea oil and gas production.
Last month’s OGUK HSE Conference was inevitably going to involve discussions on Covid. It is inevitable, but also incredible, to reflect on how fast the industry adapted and worked together to manage the pandemic.
At the start of the new tax year, we explore the financial landscape of the energy sector.
Oil and gas industry legal eagles are bracing themselves for a “significant threat” to business as pressure over climate change heats up.
Like so many other parts of the economy, Scotland’s renewable and alternative energy sector has not avoided the impact of the global pandemic. The recent UK Budget set out a variety of key climate and environment measures that, alongside other political and market developments, may re-energise the sector following the recent difficulties.
The UK oil and gas sector has announced a move to address a “gap” in investor expectations for climate-related reporting.
It has become something of a cliché that the Millennial and Gen Z generations are more environmentally conscious and values-driven than their predecessors in the workplace. The Deloitte Global Millennial Survey 2020 showed that there is still truth in that cliché, and despite the financial hardship and anxiety of the last 12 months, younger workers remain focused on larger societal issues and the need to drive positive change in their communities and around the world. This is seen as presenting a challenge to the sector in terms of attracting new recruits.
The rapid roll out of Covid-19 vaccinations offers some light at the end of the tunnel after a year of restrictions, economic hardship and illness, and has been welcomed by most of the population. However, some remain concerned about the speed at which the vaccines have been developed. Surveys have reported that perhaps a third of UK citizens would be reluctant to receive the vaccine for various reasons including the potential unknown, long-term side-effects.
Oil and gas firm Neo Energy has entered into exclusive negotiations over the purchase of ExxonMobil's UK central and northern North Sea portfolio.
That’s what we are all asking as we approach the New Year. We are all hoping that the advent of vaccines will mean 2021 is more “normal” than 2020. However, the pandemic has also coincided with, and possibly accelerated, a more fundamental change in our society – our response to the climate crisis, so the new “normal” will be different to the old “normal”.
The theme for this issue of Energy Voice is looking back on 2020 and looking forward to 2021 – I think most of us can’t wait to put 2020 behind us, so I thought I would focus on the future. One thing the future holds for us is Brexit.