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Commodities
Andreas Exarheas

OGCI Revises Upstream Targets for 2025

The Oil and Gas Climate Initiative (OGCI) has announced that it has revised its collective upstream targets for 2025. The organization’s carbon intensity target now aims to reduce the average carbon intensity of member companies’ aggregate upstream oil and gas operations from 23kg of greenhouse gases per

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Commodities
World Oil

4Subsea delivers decade of digital twin technology

9/22/2021 A representation of a digital twin (courtesy 4Subsea) 4Subsea, a leading provider of digital technology and services to the energy and maritime sector, has successfully completed more than 300 measurement campaigns across the North Sea following the launch of its digital twin technology, significantly

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Commodities
World Oil

OPEC warns natural gas crisis may create oil market turbulence

By Grant Smith and Anthony Di Paola on 9/22/2021 (Bloomberg) –As the global natural gas crunch hits suppliers and consumers alike, OPEC nations are warning of the knock-on impact for oil markets. Iraq expects higher demand for crude as the shortfall of gas forces consumers

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Commodities
World Oil

UK weighs options to weather natural gas crisis

By Ewa Krukowska, William Mathis and Alex Morales on 9/22/2021 (Bloomberg) –The UK is considering all options to address the energy crisis, but people should prepare for longer-term high prices, Business Secretary Kwasi Kwarteng told a committee of Parliament. Meanwhile, the spike in power and

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Commodities
World Oil

Oil prices rise on falling U.S. crude inventories

By Saket Sundria and Alex Longley on 9/22/2021 (Bloomberg) –Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and China’s central bank added liquidity to quell concern about a major developer’s debt woes. West Texas

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Commodities
Bojan Lepic

Aker Solutions, AF Gruppen Given Go-Ahead To Create Decom JV

The Norwegian Competition Authority (NCA) has not had any objections regarding the creation of a decommissioning joint venture between AF Gruppen and Aker Solutions. Aker Solutions informed that the transaction was subject to due diligence and final board approvals, expected to be completed during the

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Commodities
Bojan Lepic

Shell Sanctions Ormen Lange Subsea Gas Project

Supermajor Shell has reached a Final Investment Decision (FID) for its Ormen Lange wet gas subsea compression project offshore Norway and submitted the development plan for it to the Ministry of Petroleum and Energy. The plan for development and operation (PDO) for the Ormen Lange

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Commodities
Bojan Lepic

Companies To Produce Green Hydrogen From Converted Jack-Up

Three companies have joined forces to develop a concept for offshore green hydrogen production by using a converted jack-up rig in the North Sea. Offshore engineering solutions Aquaterra Energy signed a partnership with renewable hydrogen producer and supplier Lhyfe and offshore drilling contractor Borr Drilling.

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