‘Buyer’s market’: Several North Sea ‘deals to watch’ as general election looms
There are several “deals to watch” in the UK North Sea in 2024 as a general election looms and companies reshuffle their positions.
There are several “deals to watch” in the UK North Sea in 2024 as a general election looms and companies reshuffle their positions.
“But most of the cash flow increase is coming from improvements in the quality of the portfolio. We're shifting from mature legacy assets to next generation assets.”
"Ultimately political and regulatory processes will work through to get the right answer."
First Minister Humza Yousaf has come under fire in the Scottish Parliament for "two-faced" comments about the Rosebank oilfield.
Ithaca Energy criticised the First Minister after remarks late last year.
New analysis suggests Equinor’s Rosebank project could be worth around $4bn to its shareholders, after tax.
Jobs will be created at Lerwick Harbour which will host the main marine support hub for the oil and gas field.
Rosebank has been known as a complicated prospect to tap into many years - we speak to Professor Nicholas Schofield about the much-overlooked geology underlying this complexity.
Uplift and Greenpeace will challenge the decision to approve Rosebank on the basis of downstream emissions, legally binding net zero targets and impacts to marine life.
Equinor has reported $1.87 billion in pre-tax income for its UK operations, while it paid out a total of $6 million in tax within the county.
Amid ongoing scorn over windfall taxes and a looming general election, the outlook for new project sanctions in the North Sea has remained cloudy throughout 2023.
Ithaca Energy reported net income of $238.5 million (£190m) for the nine months ending 30 September, as farm-out discussions continue on key North Sea projects.
Greta Thunberg, alongside Fossil Free London, staged protests outside of Guildhall in the City of London during the prime minister's speech at the Lord Mayor’s banquet.
Equinor (OSLO: EQNR) is looking to sell off a 20% share in Rosebank, making up a quarter of its existing stake in the UK's largest untapped oilfield.
“I believe developing Rosebank will be needed, as oil and gas will be needed in the energy transition. Our strategy is to develop oil and gas, renewables and low carbon solutions.”
A majority of Scots back the decision to go ahead with drilling in the Rosebank oil field, a poll suggests.
The Oily money out campaign has said it does not expect those protesting to be arrested, but cannot rule it out.
From toys to medical supplies, oil is everywhere in domestic UK life and it plays a key role in the country's transport.
Shetland has a long history of involvement in the North Sea oil and gas industry, and now the Rosebank oil field looks set to continue that history for decades to come.
Hundreds of demonstrators gathered in Whitehall to demand a rethink of the approval for the controversial Rosebank offshore development.
Ithaca Energy (LON: ITH) has paused its efforts to electrify assets in the West of Shetland, Energy Voice understands.
Other recent projects had a gap of two weeks.
The North Sea Transition Authority signed off on the ever-controversial Rosebank oil field this week and lit a tinderbox of political and environmental debate.
With Teal West and Victory expected to follow, Rosebank could be part of a 'bumper year' for UK FIDs in 2023.
Approval of the Rosebank oilfield is a “ray of light” for projecy partner Ithaca Energy, an analyst has said, after the firm was forced to take write downs of £58m linked to the windfall tax.