Latest news
German finance minister open to new oil, gas drilling in North Sea
Germany should rethink its ban on allowing new drilling for oil and gas in the North Sea as it tries to reduce its dependence on Russian energy due to the invasion of Ukraine, Finance Minister Christian Lindner said on Sunday.
read more... 14/03/2022
EU funded research seeks to speed up drilling for deep geothermal
Deep geothermal reservoirs are being targeted for renewable energy supply worldwide. However, while international research efforts are stepping up to the challenge of overcoming the low efficiency of heat recovery from depth to the surface, the showstopper remains the slow drilling speed provided by the conventional rotary system in deep hard rocks (> 4 km). Deep drilling requires long drilling times, often resulting in unacceptably high initial investment.
read more... 16/08/2021
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Israeli energy giant plans $1.1B gas deal with UAE company
One of Israel's biggest energy companies plans to sell its share of a large offshore gas field to a firm based in the United Arab Emirates for an estimated $1.1 billion, the biggest such deal since the two countries normalised ties last year. Delek Drilling, owned by the Israeli billionaire Yitzhak Tshuva, said Monday that it signed a memorandum of understanding with Mubadala Petroleum, part of a conglomerate owned by the government of Abu Dhabi. The proposed deal was detailed in a notification filed with Israeli authorities.
read more... 27/04/2021
Anger as UK fails to rule out further North Sea drilling
The British government on Wednesday angered environmentalists by saying it could license further oil and gas drilling in the North Sea, months before it hosts a climate change summit.
read more... 25/03/2021
North Sea oil drilling ban 'unlikely' but not ruled out by UK ministers
The UK government is unlikely to impose an "outright" ban on new exploration licenses in the North Sea basin, a person close to the matter told S&P Global Platts on March 15, after weekend reports that ministers were considering a moratorium on new drilling.
read more... 16/03/2021