Petroleum Economist
Colombia’s oil and gas sector faces political headwinds
The incoming president has publicly stated his condemnation of the country’s fossil fuels sector, but energy security may force a rethink
LNG NL ‘perfectly positioned’ for a future of high politics and low carbon
The proposed East Coast liquefaction terminal is trumpeting a number of advantages over competing schemes
Rolls Royce secures backing to enter SMR sector
Modular reactors to be available to UK grid by early 2030s as government and equity investors bet on potential of low-carbon power source
Japan proposes revamp of offshore wind auction rules
Draft amendments designed to encourage faster development as government frets over 2030 clean power goal
US Supreme Court votes to limit EPA’s powers
Ruling constrains regulator’s authority to mandate power generators switch away from fossil fuels
North Africa picks up pace on renewables
Algeria, Libya and Tunisia are looking to free up fossil fuels for export
Bolsonaro turns up heat on Petrobras
Threat of subsidies and political interference grows as under-pressure president refuses to accept rising domestic fuel prices
High crude prices to persist in Q3 – Rystad
Consultancy sees Brent potentially averaging $120/bl in Q3, but the outlook remains mixed
EU and Ukraine must embrace green hydrogen and renewables
Strong and sustained technological, industrial and investment partnership will help accelerate energy independence, say industry associations
UK identifies areas for floating offshore wind
Project development areas will be offered to the market via competitive tender in 2023
Neptune targets Indonesian growth
The company is focused on increasing throughput at its Jangkrik FPU but is keen to consider fresh opportunities
Letter from South America: Petro plots course for transition
Colombia’s new president has no interest in arresting decline in the country’s oil and gas production
Pipelines pose problem for Canada’s west coast LNG exports
The only two projects to have taken FID so far are still not on easy street
Hamm aims to take Continental back to the future
Founder and chairman sees value in privacy
G7 targets Russian access to tanker insurance
Group wants to cut Moscow’s hydrocarbon revenues, but even the most stringent sanctions have their limits out at sea
UK launches consultation on greenhouse gas removal policy
The government is leaning towards introducing a contract scheme for negative emissions
Letter from Canada: Trudeau’s oil pipeline tangle
Federal policy in recent years has severely limited the country’s ability to raise exports
MEPs vote nuclear and gas as sustainable
European Parliament fails to reject Commission proposal to define some nuclear and natural gas power as sustainable
Norway does its gas best as Germany prepares for gas worst
One of the EU’s key suppliers is doing all it can to maximise deliveries. Its largest demand centre still expects the situation to deteriorate
UK awards subsidies to 11GW of renewables
Offshore wind beats onshore wind and solar projects as the cheapest source of power awarded
Industry mourns Opec secretary general
Tributes have been paid to Mohammed Barkindo, who passed away aged 63
Denmark invests in biomass pyrolysis for carbon removal
Startup aims to store emissions from waste crops as solid biochar
NL offshore has potential for new heights
Commercial oil discoveries off Newfoundland and Labrador could see three or four new fields coming online in the next ten years
Biden clashes with US refiners over fuel prices
Attacks on the downstream fail to weigh capacity losses
Kistos acquires UKCS assets from TotalEnergies
The Netherlands-focused independent has completed its first acquisition on the UKCS and doubled its production
Greece and Bulgaria complete gas interconnector
The milestone bolsters energy security in southeastern Europe
Repsol boosts investment in transition technology
Spanish energy company unveils two investment funds aimed at accelerating development and application of new technologies
Southeast Asian nations poised for crucial decade
Future development prospects are mixed across the energy-hungry region
Equinor buys US battery storage developer East Point Energy
Norwegian energy company to use flexible storage to boost returns from its renewables portfolio
Beach ramps up gas output
The Australian firm is increasing gas production in the Otway basin off the coast of South Australia
Rio Grande LNG advances
The Texan scheme remains on track for initial FID, while preparatory engineering works are planned
Air Liquide enters China biomethane sector
French industrial gases company to launch production at new facility in Jiangsu province by end of year
Prelude LNG to go offline again
The Australian project is facing renewed industrial action
Europe must think outside the box on energy independence
Unquestionably, Europe is in a bind. And it may need to be a lot more innovative than its previous blinkered approach to achieve the necessary short-term wins
Is there logic in Kistos-Serica?
Both sides appear potentially interested in a union on their terms. But not all analysts are convinced
Huge ramp-up in CCUS capacity needed – ETC
Scale-up needed from 37mn t/yr of capture currently to at least 7gt CO₂/yr by 2050, says Energy Transitions Commission
Germany confirms temporary reprieve for coal power
Cabinet adopts regulation allowing increased use of coal- and oil-fired generation as Russian gas crisis deepens
Licensing round July update
The industry's most comprehensive list of current and recent rounds for onshore and offshore licences
Vaalco and Transglobe to merge
Combination of the independent E&P firms will be Africa-focused
Namibian frontier continues to generate excitement
A range of factors appear to be in alignment for the southern African nation
Efficiency and SAF key to cutting aviation emissions
Rate of efficiency improvements must be doubled while SAF production must grow fivefold under a net-zero scenario
Afreximbank backs Nigerian-owned FLNG project
Bank has made a preliminary agreement to help fund scheme
Irena calls time on role of gas in Europe’s transition
Deteriorating economics undermine case for gas-fired power plants as a back-up for renewables, agency says
ConocoPhillips buys into Port Arthur LNG
US superindie will also acquire significant offtake volumes and options to invest in further LNG projects under development by new partner Sempra
Portfolio players roar into post-Ukraine invasion LNG contracting lead
Three deals boost the share of volumes going into global books
Why a Russian oil price cap is unlikely to work
The notion of a limit on Putin’s oil export revenue is attractive, but it will be virtually impossible to make it work in practice
Taiwan breaks ground on LNG terminal expansion
State-owned CPC has started work to expand its Taichung LNG import terminal
Gulf’s oil heavyweights shop local
Aramco and Adnoc are channelling windfall oil revenues into furthering their government owners’ domestic economic development drives
UK consults on major power market reform
Government eyes biggest overhaul of wholesale market for 20 years to support transition goals and break price link with gas
Afentra continues Angola expansion
The London-listed independent has bought two more stakes in Angolan blocks
Hurricane looks to a debt-free future
Embattled North Sea producer is set to pay off the last of its convertible bonds later this month
Gunpoint exit for Libya’s Sanalla
A figure from the Gaddafi era has replaced the NOC’s top man. Initial consequences have been positive for output, but uncertainty and risks remain
Renewable generation set for 10pc growth in 2022 – IEA
New capacity is driving up green power production and lowering emissions despite higher coal burn in Europe, IEA says
Germany chooses locations for additional FSRUs
Stade and Lubmin selected as LNG import locations as minister also backs a fifth privately held project
Sizewell C passes planning milestone
EDF expects to take FID on the nuclear project next year
NNPC becomes limited company
Reforms to the NOC come at a crucial time for Nigeria’s upstream
Cheniere and Petrochina ink LNG deal
US exporter has signed another long-term supply agreement, this time with a Chinese buyer
UK launches critical minerals strategy
Government plans to diversify supply chains and boost domestic production, refining, recovery and recycling of metals key to the energy transition
Nigerian independent poised to expand
ADM Energy has a pipeline of possible deals, says CEO Osa Okhomina
Solar key to Mozambique’s renewables ambitions
Investor interest grows as government prioritises diversification of energy sources and development of clean power
Iberdrola secures €550mn EIB green loan
Funds will support 1.8GW expansion of onshore wind and solar capacity in Spain
Suncor cuts deal with activist investor
The embattled producer has sought a truce with Elliott Investment Management and brought in new blood to the board
TotalEnergies starts production at new Nigerian field
Ikike indicates IOCs are still willing and able to develop the right projects in Nigeria’s upstream
Serica unmoved by sweetened Kistos offer
Improved terms fail to sway UK producer
US explores offshore wind in Gulf of Mexico
The government has opened a public consultation on over 730,000 acres proposed for wind energy development offshore Texas and Louisiana
Shell commits to second SNS exploration probe
The major will sink another well linked to farm-in agreements with UK independent Deltic
Perenco exports first Chadian crude
The Anglo-French independent’s expansion efforts are starting to gain traction
Bolivia signs Brazilian gas supply deal
Distributor CDGN has an agreement for gas, but flexible contracts and limited output mean Bolivian volumes are likely to continue to flow to the highest bidder
Cheniere signs Thai LNG supply agreement
State-owned PTT has inked its first US supply deal
Paper progress only in Iraq
Oil Ministry claims around key IOC investments ignore its lame duck status
BP opens first electric truck-charging points
Oil major launches two charging points in Germany aimed at medium- and heavy-duty trucks
Letter from Canada: Risk of windfall profit tax grows
Governments around the world are under pressure to implement windfall profit taxes on oil and gas companies, and Canada may be poised to follow suit
Equinor vows to keep stepping on the gas
Dominant Norwegian producer aims to maintain strong deliveries in the third quarter
China’s energy demand faces headwinds
Economic difficulties mean the outlook for H2 remains highly uncertain despite planned stimulus measures
Guyana yields more discoveries
Two more finds have been made at the upstream frontier’s prolific Stabroek block
Europe’s energy storage market stalls
Regulatory barriers and lack of capacity auctions hit growth but RepowerEU seen as supporting market, says Wood Mackenzie
ExxonMobil signs up for LNG from Next Decade
The deal continues the trend of developers making long-term agreements to start in the second half of this decade and is another milestone for the Rio Grande project
US becomes world’s largest LNG exporter
And the bulk of its volumes are heading to Europe
EDPR in €250mn German solar deal
Madrid-based company buys solar developer Kronos to tap accelerating solar growth in Germany
US onshore wind hits post-PTC slump
Second-quarter onshore wind installations fell 78pc year-on-year amid uncertainty around the extension of tax credits and rising costs
New US bill to unleash rapid clean energy deployment
The Inflation Reduction Act of 2022 includes long-term tax credits for clean hydrogen and carbon capture