Tag: UK
UK to begin testing of self-driving truck platoons
Truck platoons tests begin on UK public roads in 2018 In 2018, the British government will begin testing self-driving lorry platoons on public roads in the UK. The lineup of wirelessly linked trucks will be shepherded on UK motorways by a lead vehicle driven by a human. “We’re going to build a system that’s robust […]
Scottish independence puts £44 billion in oil and gas revenue in question
1.3 billion boe of yet to find resources for Scotland are undiscovered Just two-and-a-half years after the 2014 referendum, the prospect of Scottish independence is again on the UK agenda. The picture has improved since 2014, but there are still a number of issues on the UKCS, according to an analysis from Wood Mackenzie. Since […]
Are North Sea cost reductions here to stay?
More front-end supplier involvement would help to stimulate the next wave of investment Much has been achieved in the past year, as we see prices and costs slowly turning around. But there is more work to be done. Wood Mackenzie’s 2016-2017 Global Upstream Cost Survey showcases the North Sea cost evolution from 2014 to 2020. The […]
Harbour Energy acquisition of Shell UK North Sea assets for $3 Billion
Acquisition of portfolio creates leading UK Independent E&P company focused on North Sea Harbour Energy, Ltd., the energy investment vehicle managed by EIG Global Energy Partners, announced it agreed to lead the acquisition by Chrysaor Holdings Limited of a well-diversified portfolio of oil and natural gas assets from Shell U.K. Limited and its affiliates to […]
Golden age of natural gas in the United Kingdom is here
Question should be: “how best to exploit our huge shale gas resource?” By John Baldwin, Managing Director, CNG Services It has never been a better time to work as a gas man in the UK. Our great rival coal is vanquished with the last few coal fired generation plants having to close by 2025. The recent electricity capacity auctions have launched a new wave of gas […]
British shale gas gets boost from court ruling on permit
British shale gas permit challenged by environmentalists By Karolin Schaps LONDON, Dec 20 (Reuters) – Britain’s High Court ruled on Tuesday that a fracking permit awarded by a local council to developer Third Energy was legal, after it was challenged by environmental campaigners, opening the way to shale gas extraction in the UK. Substantial […]
Decommissioning of aging offshore oil/gas facilities up significantly
600 projects decommissioning for next 5 years with 2,000 more to follow through 2040, as market spending grows 540% HOUSTON – The decommissioning of aging offshore oil and gas platforms, subsea wells and related assets is increasing dramatically, with more than 600 projects expected to be disposed of during the next five years alone. This rapid trend toward […]
European power prices spike as French nuclear crisis deepens – Platts
Natural gas prices ramp up as combined-cycle-gas-turbine output jumps European power prices spiked in early Nov. as unscheduled nuclear outages in France continued to squeeze supply margins across much of Northwest Europe, according to S&P Global Platts. Natural gas prices also responded as combined cycle gas plants ramped up to capture rising prices, according to […]
UK oil producers pounce on price uptick to bolster hedging
Oil producers doubt crude prices will return to $100/barrel By Karolin Schaps and Amanda Cooper LONDON, Nov 17 (Reuters) – British-based oil producers have started to sell more oil and gas forward to lock in a small uptick in prices, as doubts grow that the market will ever return to the days of crude at $100 […]
North Sea oil developer Xcite Energy set for liquidation
Xcite Energy bondholders rejected restructuring plan LONDON, Oct 25 (Reuters) – London-listed Xcite Energy is set to go into liquidation after bondholders rejected a restructuring plan for the North Sea oil developer, the company said on Tuesday. Trading of the company’s AIM-listed shares was suspended after principal debt holders rejected a plan that would see the […]
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