Regulatory body the Oil and Gas Authority has appointed a new director of regulation.
The OGA (Oil and Gas Authority) has strengthened its board with the appointment of three new non-executive directors. Sir Patrick Brown, the chairman of the industry regulator, has approved Frances Morris-Jones, Robert Armour and Mary Hardy in the roles. Last month the OGA revealed it had completed the first phase of a £20million seismic campaign in the UKCS.
BP Plc asked federal regulators on Monday to reverse an administrative judge’s ruling that it had manipulated natural gas markets in Texas in 2008. “There is no direct evidence of manipulation,” BP said in an appeal filed with the Federal Energy Regulatory Commission. The energy company said last month’s initial ruling by the agency was “arbitrary and capricious.”
The first round of the historic opening into Mexico's crude market has closed with only two successful bids. A total of 14 blocks had been up for grabs in the landmark opportunity for companies looking to invest in the region. However, as the CNH (Comision Nacional de Hidrocarburos) moved through the blocks on offer it was clear Mexico's big gamble was off to a slow start.
EU energy regulator ACER, until now largely toothless, will be given legal powers to enforce plans for a single energy market that breaks down national barriers under a proposal from the bloc's executive arm. At a conference on Thursday in Slovenia, where the Agency for the Cooperation of Energy Regulators is based, European Commission Vice President Maros Sefcovic and Energy Commissioner Miguel Arias Canete laid out their plans to bolster ACER. Already next week in Brussels, the Commission will publish its thoughts on how to improve cross-border power and gas flows to try to bring down energy costs and curb the need for fossil fuels imported from nations such as Russia.
Eyebrows were raised after it emerged that the incoming chairman of the new oil and gas regulator would enjoy a £100,000 pay packet for a job that requires just 2.5 days a week work. The Oil and Gas Authority (OGA), formed on the recommendation of the Wood Review, is on the hunt for a chairman or woman after it recruited former BG Group boss Andy Samuel as its new chief executive. Mr Samuel, who takes up his new job on January 1, will be paid £250,000 per year.
The offshore industry is due to be hit with a £200million bill over the next two decades to help pay for Aberdeen’s new North Sea regulator. The UK Government confirmed yesterday that it plans to give itself new powers next summer to levy oil and gas firms in order to fund the body. Ministers also revealed that the number of officials dedicated to overseeing the North Sea sector would rise from 59 at present to about 145 as the Oil and Gas Authority gets up and running in Aberdeen. The creation of the new regulator was recommended after a major review was held into the future of the offshore industry, led by the businessman Sir Ian Wood.