oil and gas industry

Legal action taken against plans to drill the Great Australian Bight

According to a recent statement, the Wilderness Society South Australia has commenced legal proceedings in the Federal Court of Australia with the aim to challenge the environmental approval to the Norwegian fossil fuel company Equinor, to commence oil drilling in the Great Australian Bight Marine Park, as granted by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).

IEA: How the oil and gas industry can achieve clean energy transitions

The International Energy Agency published a report explaining the part of the oil and gas industry into the fast-changing world, highlighting that the sector has to make clear what clean energy transitions mean for it – and what it can do to accelerate clean energy transitions.

UK to stop funding coal mining abroad

Speaking at a UK-Africa investment summit in London, the UK prime minister Boris Johnson announced that the government will no longer finance coal-mining and coal-fueled power stations in developing countries, in the wake of the adverse effects brought by climate change. 

McDermott may file for bankruptcy

Bloomberg recently reported that McDermott International Inc. is preparing to file for bankruptcy as soon as next week in order to address its more than $4 billion debt load. It is said that the Baupost Group and HPS Investment Partners may provide a bankruptcy loan of about $2 billion.

Eni and ADNOC ink agreement on CCUS development

On 20 January, the Italian energy company Eni along with the international oil company ADNOC, shake their hands and inked a strategic framework agreement. Through their collaboration both companies will further explore new opportunities in carbon capture utilization and storage (CCUS).

Oil stable as economic growth in China raises concerns

Reuters reports that oil prices hit high on Friday, January 17, but were little changed during the week as the sluggish economic growth in the world’s biggest crude importer, China, raised concerns over fuel demand and countered optimism from the signing of the China-U.S. trade deal.

Norway’s oil output in December surpasses forecasts

The Norwegian Petroleum Directorate issued its December 2019 figures, showing an average daily production of 2,082,000 barrels of oil, NGL and condensate, which is an increase of 95,000 barrels per day compared to November.

Activists block Shell’s headquarters in Aberdeen

In fact, it is said that activists from the Extinction Rebellion movement have blocked an entrance to oil major Shell’s headquarters in Aberdeen, Scotland. BBC now reports that activists arrived at the Altens base at about 06:30 on Thursday, January 16, and now plan to remain at the site all day “to hold Shell to account”. The group said the protest was part of its two-week long campaign targeting the fossil fuel industry.

First gas sales from Leviathan started

Noble Energy, Inc. (Noble Energy) provided an update on the startup of the Leviathan natural gas field, offshore Israel. First gas sales from Leviathan commenced on December 31, 2019.

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