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Significant Growth for Crondall Energy in 2023

Significant Growth for Crondall Energy in 2023   Crondall Energy is going through a period of significant growth with the opening of 2 new offices and an increase in staff numbers by 25%. The engineering consultancy is operating from new offices in Glasgow and Aberdeen and has recruited additional staff across the group to work on renewable energy projects, energy transition and technology development. The new Glasgow office is located at 10 Bothwell Street and will support the...

Kimmeridge Energy Management Raises Over $1 Billion for Oil-and-Gas Investments

Kimmeridge Energy Management Raises Over $1 Billion for Oil-and-Gas Investments   Kimmeridge Energy Management, a New York-based firm, has successfully raised more than $1 billion for the acquisition and development of oil-and-gas assets. This new fund, named Kimmeridge Fund VI LP, surpassed its predecessor fund by collecting roughly 25% more capital. It is also the largest fund raised by Kimmeridge since its establishment in 2012. The firm sees lucrative investment opportunities...

INEOS and SINOPEC complete major petrochemicals deal in China.

INEOS and SINOPEC complete major petrochemicals deal in China   INEOS has today completed the formation of a 50/50 joint venture with SINOPEC for the Tianjin Nangang Ethylene Project, announced in December 2022, which is currently under construction by SINOPEC and expected to be on-stream by April 2024. The petrochemical complex includes a 1.2 mtpa cracker, a new 500ktpa High-Density Polyethylene plant to produce INEOS pipe grade under license and 11 other derivative units. The...

ASCO appoints new managing director for Australia

ASCO appoints new managing director for Australia   ASCO, the global integrated logistics and materials management company, has appointed Warren McHardie as Managing Director - Australia, effective from the 31st of July 2023. With over 20 years of experience in management roles within the Marine, Oil & Gas, Transport & Logistics and Automotive industries, Warren brings diverse expertise to the position. Before joining ASCO, Warren most recently served as an Executive Manage...

bp reports $2.6bn second-quarter profit amid lower fuel prices

bp reports $2.6bn second-quarter profit amid lower fuel prices The energy giant said the profit declined by 70% from the previous year due to lower fuel prices and weaker oil trading   bp has announced today a second-quarter profit of $2.6 billion (£2bn), falling 70% from the previous year due to lower fuel prices and weaker oil trading. The reported profit missed forecasts but still allowed the company to increase its dividend by 10%. The energy giant reported a $5 bil...

AREG comment on Aberdeenshire ACORN project being selected for funding

AREG comment on Aberdeenshire ACORN project being selected for funding   Jean Morrison, chair of Aberdeen Renewable Energy Group (AREG), welcomed the government’s announcement today that Acorn will receive funding from the UK Government. She said: “After years of waiting, having missed out on ‘track 1’ funding in 2021, the announcement that Acorn has officially been given the greenlight is extremely positive news for the energy sector, the North-east and the...

Russia On Course To Drill Record Number Of Oil Wells Despite Sanctions And Cuts

Russia On Course To Drill Record Number Of Oil Wells Despite Sanctions And Cuts   Russian oil producers accelerated the drilling of production wells in the first half of this year despite the Western sanctions and Moscow’s pledge to reduce output by the end of the year and cut exports in August, data seen by Bloomberg showed on Monday. Russian exploration and production companies drilled more overall length of production wells in the first half of 2023 than in the same period...

Trillion Energy announces farm-in deal to explore oil blocks in Türkiye near recent discoveries

Trillion Energy announces farm-in deal to explore oil blocks in Türkiye near recent discoveries   Trillion Energy International Inc. announced it has entered into a farm-in agreement with Derkim Poliüretan Sanayi ve Ticaret A.S. to earn a 50% working and revenue interest in three oil exploration blocks spanning 151,484 hectares located in the Cudi-Gabar province, Türkiye in proximity to recent discoveries. The company said that to earn the 50% stake, it must acquire...

Equinor receives nod for North Sea drilling ops

Equinor receives nod for North Sea drilling ops   Norwegian state-owned energy giant Equinor has received consent from Norway’s offshore safety regulator for exploration drilling in the North Sea off Norway, using a KCA Deutag Drilling-managed rig. The Petroleum Safety Authority Norway (PSA) recently gave Equinor consent for exploration drilling in block 33/12 in the North Sea. The prospect, Solan Ludvig, is located in production licence 050 B, which was awarded on 11 August...

New oil discovery confirmed in Gulf of Mexico

New oil discovery confirmed in Gulf of Mexico   U.S. oil and gas company Hess Corporation has made an oil discovery in an exploration well located in the U.S. Gulf of Mexico. According to Hess, planning is underway for this new oil discovery in the Pickerel-1 exploration well, which is located in Mississippi Canyon Block 727, to be tied back to the Tubular Bells production platform in the U.S. Gulf of Mexico. Hess has a 57.14 per cent interest in the Tubular Bells field and acts as...

Ithaca Energy announces hydrocarbon discovery offshore UK

Ithaca Energy announces hydrocarbon discovery offshore UK   Independent oil and gas company Ithaca Energy has announced the discovery of hydrocarbons at the K2 prospect offshore UK. The K2 prospect is located in Block 22/14c of the Central North Sea on the UK Continental Shelf. Ithaca Energy, which is the operator of the development, found hydrocarbons in the reservoir in the Forties member sandstones, with a net thickness of 45ft. To determine the quality of the reservoir, l...

BP hopes to avoid Shell’s expectation miss as it reports profits

BP hopes to avoid Shell’s expectation miss as it reports profits   BP will be hoping it can avoid the fate of its fellow London rival Shell on Tuesday, when the oil major discloses how profitable it was in the second quarter of the year. Analysts expect the oil giant to unveil billions of dollars in profit. But shareholders might be nervously eyeing Shell’s results announcement on Thursday ahead of the BP report. Shell reported a 5.1 billion dollar profit (£3.9...

Weatherford to conduct engineering assessment of Ukrnafta's gas wells

Weatherford to conduct engineering assessment of Ukrnafta's gas wells   Oilfield service company Weatherford will conduct an engineering assessment PJSC Ukrnafta's gas wells, Ukrainian media reported, citing the company's press service. The company will conduct an analysis of operating data to identify the necessary technologies and how efficiently they can be used. The companies have already signed all agreements needed for partnership. "Collaboration with Weat...

Neptune Energy starts gas production at Adorf Z18 well, Germany

Neptune Energy starts gas production at Adorf Z18 well, Germany   Neptune Energy today announced first production from its operated Adorf Z18 gas well, in the municipality of Georgsdorf, North Western Germany. The Z18 well - in the Carboniferous formation - is expected to increase Neptune’s production from the Adorf licence by about 1,900 barrels of oil equivalent per day to around 8,200 boepd. Construction of a dedicated processing plant at the site for treatment of the g...

RSK Group acquires engineering and energy transition experts PD&MS

RSK Group acquires engineering and energy transition experts PD&MS   PD&MS, a specialist engineering services company operating within the energy transition, conventional energy, low carbon and renewables sectors, has been acquired by RSK, a global leader in the delivery of sustainable solutions. The Aberdeen-based company has been operating since 2002. Synergie Environ and Optimus joined PD&MS in 2021 and 2022, respectively. The business works with some of the biggest...

Equinor Q2 profit down 57% as oil and gas prices fall

Equinor Q2 profit down 57% as oil and gas prices fall   Equinor posted on Wednesday a 57% year-on-year decline in second quarter core profit, in line with expectations as oil and gas prices fell, while maintaining its dividend and share buyback levels, sending its shares slightly lower. The Norwegian energy group's adjusted earnings before interest and tax for April-June fell to $7.54 billion from $17.6 billion a year earlier, broadly in line with the $7.64 billion predicted in...

North Sea oil back in court day after Shell beats activists

North Sea oil back in court day after Shell beats activists   Greenpeace will clash with the government in court on Tuesday over the granting of new licences for North Sea oil and gas companies. Campaigners and the North Sea Transition Authority will argue whether the UK’s latest oil and gas licensing round was illegal during a judicial review in London’s High Court. The showdown comes a day after Shell PLC saw off climate campaigners attempting to sue over the oil g...

Shortlist announced for Net-Zero Energy Transition Awards 2023

Shortlist announced for Net-Zero Energy Transition Awards 2023 30 candidates across eight categories shortlisted for trade body’s supply chain event Winners to be announced in Aberdeen on August 24   Scottish Renewables has announced the shortlist for its Net-Zero Energy Transition Awards, headline-sponsored by TotalEnergies. Taking place in Aberdeen on August 24, the black-tie awards will see 30 individuals, companies and projects from across Scotland’s renewable...

Shell exits Abadi gas project in Indonesia for up to USD650 million

Shell exits Abadi gas project in Indonesia for up to USD650 million   Shell PLC on Tuesday said it will receive up to USD650 million for its 35% interest in an Indonesian gas project. Shell Upstream Overseas Services (I) Ltd, a Shell subsidiary, will sell its participating interest in the Masela production sharing contract to Indonesia's PT Pertamina Hulu Energi and Petronas Masela Sdn Bhd, part of Malaysia's Petroliam Nasional Bhd, known as Petronas. The PSC includes th...

Chevron hits a quarterly profit of $6 billion

Chevron hits a quarterly profit of $6 billion   Chevron Corp's second-quarter earnings topped Wall Street estimates, the company said on Sunday, and Chief Executive Michael Wirth also signaled the number two U.S. oil company remains open to more acquisitions and to increasing shareholder distributions this year. In a rare preview of its results that coincided with the announced retirement of its finance chief, Chevron disclosed a $6 billion net profit in the quarter ended June...
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