Page 7 - Digging Crew News Today

OPEC published its annual report with estimates of global energy demand through 2045 and it cut again its demand growth outlook for this year and next, while the largest state oil and gas firms in the Middle East signed major contracts to expand their production and processing capabilities.

Tullow Oil PLC said Wednesday that it has signed a production-sharing contract for a new offshore exploration license in the Ivory Coast.

Funding will provide much-needed financing to address urgent global issues such as food, energy and climate security.

The hike in the UK windfall tax on the profits of oil and gas operators in the North Sea and its implications for the industry, decommissioning challenges and opportunities, and field and prospect updates featured in the UK oil and gas industry this month.

Neptune Energy, together with its licence partners, has announced the discovery of oil and gas at the Calypso exploration well, located in production license PL938, in the Norwegian Sea.

UK-headquartered giant Shell and its partners have extended the limited notice to proceed (LNTP) period with BW Offshore and Saipem, covering early-stage engineering and supplier reservations for the supply of an FPSO destined for an oil and gas field offshore Brazil.

Oil and gas activity in the United States continues to expand, but delays in the supply chain and cost inflation persist.

A new electricity generation record was set yesterday by the UKs onshore and offshore wind farms, which generated of 19,936MW of electricity in a half hour period.

Given the level of investment required to get geothermal projects off the ground and see them through to completion, having a comprehensive and real-time view of a geothermal reservoir’s viability as early as possible is crucial.

Neptune Energy today called on the Dutch government to introduce an investment allowance in its plans to raise levies on energy companies, to avoid risks to the country’s energy security and net zero targets.