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UK oil and gas output to take hit as drilling slumps to lowest since 1970s
Drilling activity in the UK oil and gas sector this year is set to slump to the lowest level since the 1970s, with lower activity expected to negatively impact production in 2021-22, and fears for the competitiveness of the overall North Sea basin, industry group Oil & Gas UK said Nov. 11.
read more... 12/11/2020
ADNOC says signs LNG supply agreements with Vitol and Total
Vitol would get 1.8 million tons per annum (mtpa) of post-2022 LNG volumes and Total would get 0.75 mtpa of 2021 and 2022 LNG volumes
read more... 12/11/2020
Daily (11.11.2020): European Cal’21 power prices reversed gains on Tuesday as vaccine euphoria vanished
Crude oil prices continued to add ground on Tuesday amid optimism generated by a vaccine against COVID-19 and a possible intervention of OPEC + alliance. Moreover, bigger than expected weekly U.S. oil storage draws helped WTI to extend gains. Hence, Brent crude soared by $1.21, or 2.9%, to settle at $43.61 a barrel. Meanwhile, U.S. WTI crude increased by 1.07, or 2.7%, to end at $41.36 a barrel.
read more... 11/11/2020
North Sea major files for CO2 storage licence as part of UK’s net-zero journey
North Sea oil and gas independent Chrysaor has submitted a licence application for the purpose of storing CO2 in a depleted reservoir in the North Sea off the UK.
read more... 11/11/2020
European lockdowns weigh on global fuel recovery
As the second wave of the virus hit many Western countries, governments imposed new lockdowns, closing restaurants and bars and banning gatherings. But the measures were not as strict as during the first wave
read more... 11/11/2020