By Paul Burkhardt (Bloomberg) --Total SA has deployed a rig to South Africa to look for more oil near a massive discovery, in a rare example of exploration in a frontier area. The Odfjell Deepsea Stavanger has left Bergen in Norway for the southern tip of Africa, Africa Energy Corp., Total’s partner in the project, said Thursday. While drilling work has dropped off … [Read more...]
Satellites Reveal Major New Gas Industry Methane Leaks
By Shadia Nasralla LONDON, June 26 (Reuters) - Last fall, European Space Agency satellites detected huge plumes of the invisible planet-warming gas methane leaking from the Yamal pipeline that carries natural gas from Siberia to Europe. Energy consultancy Kayrros estimated one leak was spewing out 93 tonnes of methane every hour, meaning the daily emissions from the leakage … [Read more...]
Offshore Drillers Face New Round of Bankruptcies
By Liz Hampton and Nerijus Adomaitis DENVER/OSLO, June 24 (Reuters) - The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms. A collapse of the offshore industry will have broad impact. Drillers … [Read more...]
U.K. Offshore Oil and Gas Industry Pledges to Cut Emissions in Half Over Next Decade
By Amanda Jordan and Laura Hurst (Bloomberg) --The U.K. offshore oil and gas industry pledged to cut emissions from its operations by half in the next decade, and eliminate them completely by 2050. The commitment announced by industry body OGUK Tuesday reflects mounting pressure on energy producers to bolster the fight against global warming. Yet it relates only to direct … [Read more...]
Oil Crisis Shows Richest Nordic Country Remains a Crude Addict
By Lars Erik Taraldsen and Mikael Holter (Bloomberg) --Norway has been talking for years about weaning itself off oil, but the Covid-19 crisis has revealed how far it has left to go. Norwegian politicians this week sweetened a package that will delay more than $10 billion in taxes for oil companies and make projects more profitable after even the country’s industry-friendly … [Read more...]