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Commodities
Bojan Lepic

Offshore Wind Round To Decarbonize UK Offshore O&G Infrastructure

Crown Estate Scotland – the body which manages seabed leasing for offshore renewables – has opened a pioneering offshore wind licensing round which will help reduce emissions from offshore oil and gas infrastructure. The Innovation and Targeted Oil and Gas (INTOG) leasing process will help

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Commodities
Nick Coleman

IEA raises 2022 oil demand growth forecast by 380,000 b/d

Highlights Raises OPEC+ output ‘call’ for 2022 by 700,000 b/d, lowers 2023 estimate Oil output hits post-pandemic high, 1 million b/d rise seen by end-2022 Raises H2 Russian oil supply estimate by 500,000 b/d The International Energy Agency on Aug. 11 hiked its 2022 oil

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Commodities
Bojan Lepic

Aker BP To Invest $700Mn In Alvheim Subsea Tie-In

Aker BP has submitted a plan for development and operation (PDO) for the Trell and Trine fields to Norway’s Ministry of Petroleum and Energy which entails an investment of $700 million. This development will utilize the planned extended lifetime for the Alvheim field, increase production,

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Commodities
Andreas Exarheas

Can Europe Live Without Russian Gas?

Thanks to the strength of the inventory build, Standard Chartered analysts now think Europe can get through a winter comfortably without Russian gas, a new report by the company has revealed. The analysts outlined in the report that it was once thought unthinkable that Europe

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Commodities
World Oil

Oil regulator overrules Nigerian President to block Exxon deal

(Bloomberg) ­— Nigeria’s energy regulator overruled President Muhammadu Buhari’s approval of a $1.28-billion purchase of Exxon Mobil Corp. assets, in a high-profile disagreement that may discourage investment in the country’s struggling oil and gas industry. Buhari Hours after Buhari’s office approved Seplat Energy Plc’s acquisition

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Commodities
World Oil

U.S. oil output set for record 2023 despite slowing growth

(Bloomberg) — U.S. oil production remains on track for a record 2023 even as output grows more slowly than anticipated amid surging costs and labor shortages in America’s shale fields. Output is expected to expand at an average rate of 840,000 barrels a day next year, down

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