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British Isles seabed regulator The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating wind test and demonstration sites in the Celtic Sea to Llŷr Floating Wind Limited. View the full article
The Industrial Decarbonization Strategy, published March 17, is part of the UK’s ambition to effectively eliminate greenhouse gas emissions by 2050. View the full article
The UK unveiled its net-zero strategy as it tries to showcase its green credentials ahead of key climate talks later this month. It will move taxes from electricity to gas, fund carbon-capture, and offer grants for cleaner home heating. View the full article
In the UK, the oil and gas industry has committed to working in line with the Paris Agreement and recently passed the landmark North Sea Transition Deal which included a pledge to cut production emissions by 15 million tons by 2030. View the full article
OEUK warned many of the industry’s skilled people and investors remain deeply concerned about Labour proposals for a further windfall tax on homegrown oil and gas production and to end new oil and gas licenses in UK waters. OEUK says such measures would not create the investment conditions the UK needs to deliver the homegrown energy transition needed to kickstart economic growth. View the full article
The U.K. got less than a quarter of its oil supplies from its own fields last year, compared with about 9% from Russia. And domestic output is dropping fast — down by 10% in the first quarter from a year earlier after companies cut investment or spent their cash elsewhere. View the full article
There’s “no immediate concern” about fuel supplies running short for consumers in the UK, Conservative MP Alok Sharma said Sunday. View the full article
New British Prime Minister Liz Truss removed a ban on drilling for shale gas, an effort to boost domestic energy supply that will have to overcome the same obstacles that stymied the industry for the past decade. View the full article
The British government needs to publish detailed plans on decarbonizing the economy if it wants to prevent a “disorderly” transition to net-zero emissions by 2050, members of Parliament’s upper chamber said Thursday. View the full article
UK’s Labour Party leader Keir Starmer said he’s against nationalizing energy companies, a retreat from a pledge during his leadership campaign, as Britons face a surge in electricity prices, long petrol lines and a “winter of discontent.” View the full article
The UK Oil and Gas Authority has awarded a carbon dioxide appraisal and storage license to Harbour Energy, boosting the drive to reach net zero greenhouse gas emissions by 2050. View the full article
The UK’s new government must double or even triple the rate of offshore wind turbine installations to meet its target of a four-fold increase in offshore renewable energy by 2030, according to a new report. View the full article
The UK government’s newly announced proposal to grant carbon dioxide transport and storage licenses to Liverpool Bay CCS Limited (Hynet) and Net Zero North Sea Storage Limited - the East Coast Cluster round Humberside and Teesside as been welcomed by the country’s largest offshore trade group. View the full article
New figures show domestic gas production in the first half of 2022 was 26% higher than the same period in 2021, which is enough to heat almost 3.5 million UK homes for a year. View the full article
A national green light for fracing, the technique that triggered a huge boom in shale oil and gas in the U.S., is one of a handful of measures from Britain’s new leader to increase energy supplies in response to Russia’s invasion of Ukraine. It’s a controversial move that rolls back pledges made by her predecessor Boris Johnson in the government’s election manifesto. View the full article
The competition, managed by the Oil and Gas Authority, is designed to advance the widespread electrification of offshore installations on the UK Continental Shelf, which are powered by gas or diesel. View the full article
North Sea Investment Forum announced that Greg Hands MP, UK minister of state for business, energy, and clean growth, will deliver the ministerial keynote to kick off the North Sea Investment Forum in London on June 23. View the full article
The country’s current daily production of about 1.2 MMboed is projected to drop to 0.7 MMboed in 2030 by industry regulator the North Sea Transition Authority. “Getting things right” and moving forward all investment opportunities currently under consideration by companies would temper that decline, meaning production in 2030 would be 0.9 MMboed, OEUK said in its Economy and People report on Tuesday. View the full article
The program was first launched in 2020 to test the extent to which mediation can resolve certain disputes between oil and gas licensees, operators and infrastructure owners in the UK Continental Shelf. View the full article
Britain is considering options that include ending permits in 2040, and an immediate temporary pause in licensing, the UK newspaper Telegraph reported. View the full article
The future of carbon storage moved a step closer today with 26 bids coming in for the UK’s first-ever carbon storage licensing round. View the full article
Supply chain companies in the UK offshore oil and gas sector are in prime position to win work in carbon capture and storage if urgent action is taken by governments and industry, a new report indicates. View the full article
The U.K. government got together with Shell Plc in London this week to talk up North Sea oil and gas, the latest sign of the country’s pivot back toward domestic fossil fuels since Russia’s invasion of Ukraine. View the full article
Changes in the tax regime, in particular a windfall levy on oil and gas introduced two years ago and extended until March 2029, has affected independent oil and gas producers listed in the UK and their ability to raise money. View the full article
The UK government said it has reached an agreement with the country’s oil and gas industry that will help safeguard jobs as the nation strives to achieve net-zero emissions of greenhouse gases. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
