The resources of a major onshore oil find have been upgraded, with analysts saying it could become the “largest” of its kind in the UK.
A leading oil economist has warned that global production cuts agreed to by the Opec cartel and 11 other countries including Russia may not be enough to overcome the rise of US shale.
Baker Hughes said it expects revenue from its onshore business in North America to increase in the first half of the year as customers ramp up drilling activity and pricing improves.
Circle Oil said it has completed gas pipeline repairs onshore Morocco.
The UK is set to miss targets for sourcing energy from renewables by the end of the decade, MPs have warned.
SDX Energy has completed its seismic acquisition programme in the Nile Delta.
Union Jack Oil said it has acquired a further 8.33% economic interest in an onshore asset in Lincolnshire.
Croatia has signed contracts with a local firm and one Canadian company that had been awarded onshore oil and gas exploration blocks in the north and east of the country.
Renewable energy generation capacity expanded last year by 8.3% to 1,985gigawatts globally.
Doubling the share of renewables in the global energy mix by 2030 is feasible, but only with concerted action to jump-start their use in transport, building and industry. Bioenergy is seen as being a critical component to achieving this objective. And if it is, then the sector could “sustain 24.4million jobs worldwide” just 15 years from now.
The New Zealand government has put more than 500,000 square kilometres of onshore and offshore acreage up for offer.
Statoil confirmed it was on the hunt for renewables firm to invest in.
A “barmy army” of “Nimby” Tory MPs will stand in the way of even the most appropriate applications for new onshore windfarms, a Labour MP has warned.
Sound Energy has signed a binding agreement with Oil & Gas Investment Fund (OGIF) to allow the company to acquire a 55% interest in the Meridja permit, onshore Morocco.
UK Oil & Gas tripled its resource base overnight after Xodus pegged its Arreton prospects to contain 219 million barrels.
Transerv Energy said four days of work was lost at its Warro-6 well after a metal object was accidently dropped down the hole.
Union Jack Oil has commenced the drilling operations for its onshore Keddington-5 development well.
BHP Billiton said it expects to be hit with an impairment charge of $4.9billion post-tax against the carrying value of its onshore US assets. The company said the charge will be recognised as an exceptional item in the financial results for the half year ended December 31, 2015.
Oil major Chevron and PetroChina started production from an onshore gas field at the end of 2015 after years of delays. The Luojiazhai field has an annual production capacity of three billion cubic metres of gas.
Bowleven said it has now wrapped up an extended flow testing programme at Moambe and Zingana. The Africa focused oil and gas explorer said the results continue to support plans for around five to six mmscfd of gas for power generation under a development scheme with Actis and Eneo in Cameroon.
The Government has been accused of “irrational” curbs to renewables subsidies after official projections revealed lower than expected energy bills by 2020. Ministers have said cuts to support for technology such as onshore wind and solar are necessary to prevent rising costs to consumers and to curb the projected overspend on the £7.6 billion budget by 2020 for a raft of green measures paid for on bills. But emails obtained by climate change analysis website Carbon Brief under Freedom of Information rules reveal Government projections which show that, while the overspend will add £12 to average household bills by 2020, overall bills would be £97 lower.
A number of wells could be drilled in locations across north-west England by 2017, according to reports. The Northwich Guardian said the move could pave the way by INEOS for fracking operations.
GCube has signed a deal with Xcel Energy for a 200MW wind energy project in North Dakota. The company, which acts as an underwriter for renewable energy initiatives, will be providing insurance for all construction risks. The development in Courtenay, North Dakota, forms part of plans to expand its wind portfolio by around 40% and is expected to add a further 1.9GW of wind throughout their service territory over the next few years.
Securing appropriate sites in the early exploration phase is crucial to the growth of the shale industry in the UK, and it is important for a number of reasons. Unlike the United States, where population density leaves large open swathes of bare agricultural land available, the UK is constrained by more designations, EU-backed incentive and protection schemes and a chequered history of mining and industrial activities. In addition – when having to consider the geology, PEDL licence blocks and the financial reality of coming to terms with landowners – basic land availability is becoming an increasingly important issue.
Big US oil companies are starting to think small. A stubborn 16-month crude rout with no end in sight is driving the largest US oil producers away from costly, high- risk megaprojects long touted as the industry’s future and toward safer shale operations that generate the cash needed to satisfy anxious investors. Exxon Mobil Corp., Royal Dutch Shell, Chevron Corp., ConocoPhillips and Hess Corp. have all either delayed or abandoned projects that range from the deep seas of the Gulf of Mexico to Canada’s oil sands and the US Arctic. At the same time, Exxon and Chevron both announced plans to substantially increase US crude production, largely as a result of their shale operations.