On 11 February 2021, the revised UK Oil and Gas Authority (OGA) Strategy has come into force, reflecting the energy transition and featuring a range of net zero obligations on the oil and gas industry.
Following last year’s announcement of its ambition to become a net-zero emissions energy business by 2050, oil major Shell now set out details of how it will achieve the target to accelerate its transformation into a provider of net-zero emissions services.
As part of his efforts to tackle the adverse effects of climate change, the newly elected US President, Joe Biden, signed a long-expected executive order, setting up a climate change task force and ordering federal agencies to enhance action. Among others, the EO foresees a controversial pause of new oil and natural gas leases on public lands or in offshore waters.
DNV GL published a new research revealing that the oil and gas industry expects to boost investment in the energy systems of the future this year, as companies seek to transform for the long term.
Oil production in Norway for December 2020 was 5% higher than forecast, and 1.3% below the forecast this year, according to latest figures issued by the Norwegian Petroleum Directorate (NDP).
Reducing methane emissions from oil and gas operations is among the most cost-effective and impactful actions that governments can take to achieve global climate goals, said the International Energy Agency (IEA) in a new report.
Norway’s top court started to hear arguments regarding the legality of awarding offshore oil licenses in the Arctic, in a landmark case that could stop the industry’s expansion.
A Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35% since 2014.
The US is preparing for another hurricane called Delta, the 25th named storm of the 2020 Atlantic hurricane season, which has been intensified to Category 4 status and is expected to achieve sustained winds of 135 knots.
US President Donald Trump, recently inked an order to extend a ban until 2032 on offshore oil drilling in the eastern Gulf of Mexico off Florida, in an effort to earn support in the state ahead of the Nov. 3 election.
