Oil & Gas

Danish government postpones decision on new North Sea oil hunts

According to the country's energy minister, deliberations on Denmark's eighth oil and gas tender round will require more time. He's been advised by the country's Environmental Economic Council to postpone the decision until the heralded climate action plans, he tells Danish business media Berlingske.

Blackrock to shun polluters in fight against climate change

Major US asset manager Blackrock means to give up investments with "sustainability-related risk" and launch new products to screen fossil fuels, the firm's CEO writes in an annual letter to executives. The firm entered the Climate Action 100+ group last week, joining hundreds of investment managers in pressuring GHG emitters to reduce their climate footprints.

New Russian gas pipeline brings worry

The US has tried, fruitlessly, to curb a gas pipeline from Russia to Turkey and Europe. The pipeline is problematic like Nord Stream 2, says a US think tank director. The pipeline also symbolizes increasing Russian-Turkish cooperation in the region.

Nord Stream 2 delayed by up to a year

The US sanctions seem to have had an effect. Russian President Vladimir Putin announced during the weekend that the Nord Stream 2 project will be ready by the end of 2020 at the earliest.

Blackrock joins USD 41 trillion investor climate campaign

The New York-based major asset manager now adds its hefty influence of USD 7 trillion in AuM to the Climate Action 100+ investor group, putting even more pressure on big greenhouse gas emitters and fossil fuel companies and adding serious investment capital to climate change mitigation projects.

Norway's oil sector carried several records into 2020

Norwegian oil output slid more than anticipated last year. On the other hand, more new extraction licenses than ever have been issued for the continental shelf, and the industry had a record number of oil fields in operation at the end of the year. The country's petroleum directorate counts on granting new permits this month.

CMA CGM incorporates LNG at the core of its fuel policy

Only few peers opt for LNG as either a transitional fuel or a fuel for the next decades. A major shipper like Ikea does not count liquefied natural gas as a fuel for the future. Still, CMA CGM maintains LNG at the core of its marine fuel policy. EnergyWatch's sister media, ShippingWatch, has interviewed the container line.

Norwegian TSO green-lights Equinor's grand plan

Norway's TSO Statnett has granted permission for the fields Troll B, C and Oseberg to undergo electrification – on certain conditions, however. Among other things, Statnett reserves the right to disconnect Equinor from the power supply before any other party in case of problems.

BP divests North Sea assets

The British oil company divests assets in the North Sea to E&P firm Premier Oil as part of a larger sales plan.

Norway's oil sector agrees to big upstream emissions cuts

Without compromising commercial viability, the Norwegian continental shelf aims to be the first in the world to implement climate-neutral upstream extraction in 30 years' time, says Equinor, helped along by advantageous national framework conditions.

Borr Drilling appoints new CFO

Drilling firm Borr Drilling has found its new chief financial officer, who will start later in January and comes with 30 years' experience from Schlumberger.

Occidental to stash CO2 at cement plant

A cement producer partners with, among others, major oil companies Total and Occidental to explore the possibilities for a new CCS technology that could end up helping both crude extractors and concrete makers.

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