Europe ///

BP pays UK tax on North Sea business for first time in years

BP paid tax on its UK North Sea business in 2021 for the first time in at least six years, according to the company’s latest payments to governments report.

First Oil: A tale of two “windfalls”

Kurt Abraham

While the upstream market looks its best in three years, governmental interference continues to cause headaches. Herewith, we offer two examples from opposite sides of “the pond”—the U.S. and the UK.

Hydro Drilling, Nabors to deploy hydrocarbon production technologies and services in Europe and Africa

Hydro Drilling Global, Inc. (HD), an affiliate of Hydro Drilling S.r.l., announced the signing of a distribution agreement with Nabors Drilling International Limited (NDIL), an affiliate of Nabors Industries Ltd. to market and deploy Nabors’ technologies and services in Europe and Africa.

North Sea Transition Authority opens UK’s first carbon storage licensing round

The NSTA has launched this carbon storage licensing round in response to unprecedented levels of interest from companies eager to enter the market.

DTEK’s CEO updates progress on rebuilding Ukraine’s energy sector

In a weekly online briefing during Thursday, DTEK CEO Maxim Timchenko discussed the progress made in rebuilding Ukraine’s energy and electricity infrastructure. He provided an update on energy sector operations and restoration of electricity supply amid the Russian invasion

Netherlands pressed to boost Groningen gas output to loosen Putin’s energy grip

The Dutch Mining Council, an independent advisory body to the government, told the cabinet in a letter that it should consider tapping Groningen as an emergency measure to fill storage for the winter, with Russian supplies due to be stopped by the end of the year.

UK begins pivot from renewables with refocus on domestic oil, gas investments

The U.K. government got together with Shell Plc in London this week to talk up North Sea oil and gas, the latest sign of the country’s pivot back toward domestic fossil fuels since Russia’s invasion of Ukraine.

UK rules to allow new gas drilling at Loxley site in London

The U.K. has given permission for new drilling in the countryside south of London to establish the size of a natural gas field, as the government seeks to boost domestic energy production due to price volatility amid Russia’s war in Ukraine.

Europe surpasses Asia as leading destination for US LNG exports

The U.S. has sent nearly three quarters of all its LNG to Europe in the first four months of 2022, with daily shipments to the region more than tripling from last year’s average, the U.S. Energy Information Administration said Tuesday.

Sercel sells WiNG land nodal system for energy transition surveys to Smart Seismic Solutions

Sercel has announced the sale of a 15,000 channel WiNG system to Smart Seismic Solutions (S3), a French seismic and geophysical survey contractor, on Tuesday.

UK windfall tax hits North Sea-focused oil firm valuations

Oil and gas exploration and production companies in the North Sea are set to miss out on billions of dollars of cash after the UK implemented a windfall tax on energy firms to tackle the rising cost of living.

Why Britain is spending £37 billion to make its energy-supply crisis worse

As he opened the COP26 climate talks in November, Boris Johnson warned “it’s one minute to midnight” in the race to slash planet-heating carbon emissions. His government has since announced £37 billion of funding focused squarely on subsidizing the consumption of energy -- much of it fossil fuels.

OPEC+ seen sticking with supply plan even as EU sanctions Russia

The OPEC+ coalition will likely hold firm to its oil production plans this week even as the European Union moves to sanction group member Russia, delegates said.

UK tax raid on oil industry also breaks historic climate pledge

How the UK government finds itself mounting a tax raid on the oil and gas industry, while simultaneously breaking a promise not to offer fossil fuel producers incentives to drill more, shows how the invasion of Ukraine has turned the world of energy on its head.

EU leans toward delaying a pipeline ban to clinch oil deal

Some EU leaders are leaning toward a deal that would ban seaborne oil while temporarily sparing deliveries through a key pipeline to give landlocked Hungary more time.

Energy chief says Canada could send gas to Europe within 3 years

Canada’s top energy official said Prime Minister Justin Trudeau’s government is open to accelerating a liquefied natural gas project that could start supplying Europe in as soon as three years.

UAE sends rare cargoes of oil toward Europe amid Russia snub

The United Arab Emirates has started shipping rare cargoes of oil toward Europe, where crude buyers are snubbing imports from Russia in the wake of the nation’s invasion of Ukraine.

OEUK: A windfall tax risks reducing the UK’s energy security

Billions of pounds of investments aimed at building the UK’s net zero energy infrastructure could be diverted to other countries if politicians keep threatening to impose windfall taxes, the chief executive of Offshore Energies UK warns.

Oil steadies as EU stalemate deepens on Russian oil embargo

Oil eased off earlier gains with the European Union’s ban of Russian oil looking increasingly unlikely to pass.

Eni plans €2.5 billion in UK investment over four years

The pledge will see 80% of the planned spending go to carbon capture and renewable energy projects, and the remaining 20% to oil and gas production, according to the report.

Schroeder quits Rosneft job after pressure over Putin ties

Former German Chancellor Gerhard Schroeder is quitting his post as chairman of Russian state-owned oil company Rosneft PJSC after widespread calls for him to cut ties to Russian President Vladimir Putin over the invasion of Ukraine.

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