The North Sea jack-up rig market has been out of the limelight lately, overshadowed by increased contracting activity in the semi-submersible rig market, resulting in the departure of some of these units from the region. As the North Sea outlook remains soft, what’s on the cards for those remaining jack-ups without future commitments?New jack-up fixtures for work in the North Sea have been few and far between up until August this year…
Once one of the world's key energy sources, Britain's North sea oil and gas output is poised for a further slump after shrinking by two thirds in the past 20 years, leaving the country increasingly dependent on imports. A windfall tax introduced…
BP is ramping up oil exploration and drilling activity in frontier prospects as the energy giant tries to stem a decline in its oil and gas output after years of focusing on a shift to renewables to cut carbon emissions. The move comes as companies…
Wind power may generate roughly 40% of North America's electricity by 2050, and solar power another 32%, if current and projected capacity development plans proceed as expected, data from risk assessment firm DNV shows.With hydropower expected to generate an additional 11…
BP hasn't fallen out of love with renewables. It just wants to have more power. CEO Bernard Looney's pursuit of green energy outstripped all rivals three years ago when he outlined a radical blueprint to move away from fossil fuels. Last month he applied the brakes…
When Scott Agnew worked on deep sea oil and gas tankers and cargo boats in the 1980s, he used to count whales and dolphins for conservationists' surveys on his voyages around the world.Based in Dundee, Scotland, many of his jobs over the years have been for the offshore fossil fuel industry…
The green hydrogen express is gathering pace, but it may have a worrying problem with leaks.As governments and energy companies line up big bets on the much-touted fuel of the future, some scientists say the lack of data on leaks and the potential…
Germany is bleeding cash to keep the lights on. Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago.That's the cumulative scale of the bailouts and schemes the Berlin government…
Mexico's energy ministry tried earlier this year to block the publication of stricter rules on natural gas flaring, according to documents seen by Reuters, saying they would hurt state oil company Pemex and its plans to increase production…
Ever since Exxon Mobil found vast deposits of oil off Guyana's coastline in 2015, government leaders have pledged that black gold would transform the fortunes of one of South America's poorest countries.This year alone, the economy should grow 48%…
By Akif Chaudhry, Principal Analyst, Corporate Research, Wood MackenzieNo longer in its infancy, offshore wind is a proven technology on course to play a key role in the decarbonisation of the global economy. Over the next decade, the industry will attract almost US$1 trillion in new investment…
A dispute between Israel and Lebanon over their maritime boundary has obstructed energy exploration in the eastern Mediterranean and risks exacerbating tensions between two foes.After months of deadlock in U.S.-mediated talks, Beirut on Sunday warned against any activity in the disputed area…
Northern European countries are discussing plans to create a common power grid under the North Sea to connect future offshore wind farms as they seek to strengthen energy security, but the ambitious proposal faces financing and regulatory challenges…
Australia's vast liquefied natural gas (LNG) sector is betting its future on carbon capture and storage (CCS), a technology it says is vital to decarbonization and is proven.Convincing everybody else is going to be the tricky part, especially…
By Teresa Wilkie, Research Director of RigLogix at Westwood Global EnergyUtilization is one of the key barometers of the health of the offshore rig market, as it identifies what percentage of the usable fleet is available versus what is not…
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