London,21 November, 2023, (Oilandgaspress): – Employment in the Global energy sector rose to 67 million last year, an increase of 3.5 million. More than half of the jobs added over this period was in just five sectors: solar PV, wind, electric vehicles (EVs) and batteries, heat pumps, and critical minerals mining, according to a new International Energy Agency (IEA) report.
Just Stop Oil supporters are in their fourth week marching to the point of arrest to demand that the UK government immediately halt all future licences and consents for fossil fuel exploration in the UK. [1]
At around 12:30 pm today, a group of approximately nine people began marching from Trafalgar Square in support of Just Stop Oil’s demand. All nine were arrested within 30 seconds of stepping on the road.
Just Stop Oil has issued an open call to the public and to all concerned parties to march together in defiance of this criminal government. This has been inspired by demonstrations in the Netherlands, where repeated road disruptions and continued pressure on the police, has forced the Dutch parliament to vote to end fossil fuel subsidies. Read full article
A new report shows that deliveries to exploration, operation and modification of Equinor-operated fields and onshore plants in Norway exceeded 93 billion NOK in 2022, an increase of approximately 13 percent from the previous year. Over 90 percent went to Norwegian suppliers. The report was presented at Equinor’s autumn conference by the company’s executive vice president for Exploration and Production Norway (EPN), Kjetil Hove, together with the five trade unions in Equinor: Industri Energi, SAFE, the Norwegian union of managers and executives (Lederne), NITO and Tekna.The report is done by Bodø Science Park (KPB) through analyses of supplier lists and actual purchases of goods and services for Equinor-operated fields and onshore plants operated by Equinor, from Hammerfest LNG in the north to the Sleipner field in the south.
This is the first time exploration activities are included, and the second time KPB has delivered this report. Read full article
Golar LNG Limited announced that the FLNG Gimi departed Singapore’s Seatrium Shipyard, November 19, 2023. FLNG Gimi is now sailing under its own propulsion, supported by an escort tug, toward BP’s purpose-built Greater Tortue Ahmeyim (“GTA”) hub offshore Mauritania and Senegal. The voyage is expected to take around 60 days, including refuelling stops in Mauritius prior to rounding the Cape of Good Hope and in Namibia prior to its arrival. Upon arrival, FLNG Gimi will notify BP that it is ready to be moored and connected to the hub, which is expected to trigger the start of contractual cash flows under the 20-year Lease and Operate Agreement on the GTA field.
Golar CEO Karl-Fredrik Staubo commented: “Golar is pleased to complete conversion of the FLNG Gimi. We would like to thank Seatrium, Black and Veatch and other suppliers for another successful FLNG delivery. With Gimi soon on site for start-up of operations Golar will double its operating fleet of FLNGs and bring total installed liquefaction capacity up to 5.1mtpa. We look forward to having FLNG Gimi in operation, and to continued long term cooperation with BP, Kosmos and the national oil and gas companies of Mauritania and Senegal. As the leading, independent owner and operator of FLNG units globally, we are committed to enabling monetization of attractive proven gas fields through our market leading operational track record, attractive capex/ton of liquefaction capacity and amongst the industry’s most efficient emissions/ton produced LNG.” Read full article
Golar LNG Limited reports Q3 2023 Net income of $114 million and Adjusted EBITDA1 of $75 million, inclusive of $39 million of non-cash items1.
Total Golar Cash1 of $841 million, inclusive of $114 million of restricted cash.
FLNG Hilli achieved operating milestone as world’s first FLNG to offload 100 LNG cargoes.
FLNG Gimi sailed from Singapore to start its 20-year contract for BP offshore Mauritania and Senegal.
Finalized the sale of 1977 built LNG carrier Gandria.
Continuing development of FLNG growth pipeline.
Repurchased 0.2 million shares at an average cost of $21.36 per share. 105.9 million shares issued and outstanding as of September 30, 2023.
Declared dividend of $0.25 per share for the quarter.
FLNG Hilli: Maintained its market leading operational track record throughout the quarter, and became the world’s first FLNG to export its 100th cargo on October 14 and its 102nd cargo on November 15, 2023. Q3 2023 Distributable Adjusted EBITDA1 from FLNG Hilli was $77 million, of which Golar’s share was $73 million, a $6 million decrease compared to Q2 2023, due to lower Brent oil and Dutch Title Transfer Facility (“TTF”) prices. For the remainder of 2023 and 2024, the locked in TTF Distributable Adjusted EBITDA1 as a result of the effective unwinding of prior TTF hedges, which will be in addition to Golar’s share of tolling fees and market linked Brent oil and TTF exposures, will be allocated as follows: Read full article
Golar LNG Limited (“Golar”), NASDAQ ticker: GLNG, has declared a total dividend of $0.25 per share to be paid on or around December 11, 2023. The record date will be December 1, 2023.
Due to the implementation of the Central Securities Depository Regulation (“CSDR”), please note the information below on the payment date for the small number of Golar shares registered in Norway’s central securities depository (“VPS”):
Dividend amount: $0.25 per share
Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK
Last day including right: November 29, 2023
Ex-date: November 30, 2023
Record date: December 1, 2023
Payment date: On or about December 11, 2023. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about December 13, 2023. Read full article
KBR (NYSE: KBR) announced today it had been honored by the Association of Marketing and Communications Professionals (AMCP) with two 2023 Gold Viddy Awards.Formerly the Videographer Awards, the Viddy Awards recognize outstanding achievement in video and digital production skills and is one of the most coveted awards in the video industry.
KBR’s Global Capabilities video and Global Recruitment video were selected from more than 2,500 entries from across the United States, Canada, and 22 other countries in the 2023 competition. “Our team of marketing and communications professionals is honored to receive this recognition,” said Philip Ivy, vice president of KBR Global Communications and Marketing. “KBR has undergone a transformative change, and it is exciting to tell the world who we are and about the career opportunities we offer through these videos.” Read full article
Global well plug and abandonment specialists Well-Safe Solutions has agreed a global master agreement with bp lasting until at least September 2026, with two one-year contract extension options available.
The agreement will see the well decommissioning specialists provide bp with project management, well engineering, engineering design and well decommissioning services.
Matt Jenkins, Chief Operating Officer at Well-Safe Solutions, said: “Following on from our work with bp decommissioning wells in the North Sea’s Kate field earlier this year, we are delighted to have been awarded this agreement.
“This multi-year contract will see us deploy our Well Decommissioning Delivery Process (WDDP), which guides operators through the well plug and abandonment process efficiently and safely.
“Our commitment to safe, smart and efficient decommissioning will enable us to deliver bespoke solutions tailored to bp’s well stock, including the possibility of utilising the Well-Safe Guardian, Well-Safe Protector or Well-Safe Defender plug and abandonment rigs.”
This contract announcement is the latest in a busy year for Well-Safe Solutions, which recently announced the creation of the Well-Safe Resources service line in August 2023 and the appointment of Steve Combe as Consultancy Manager. Read More
KCA Deutag has been awarded a contract to carry out a major project to electrify Equinor’s jackup rig, Askepott, in Norway.
The electrification project, which will be delivered by KCA Deutag’s Kenera business unit, will make the Askepott rig the first in Equinor’s portfolio to be powered from onshore when it is completed in Q4 2024.
Askepott will receive power from high voltage cabling via the Martin Linge A platform, which is already supplied with power from the shore through the world’s longest alternating current cable and is located 42 kilometres west of the Oseberg Field in the Norwegian Continental Shelf (NCS). The electrification of the Askepott rig in the field will enable energy efficient drilling operations and provide significant decreases in Green House Gas (GHG) emissions. Based on historic records and predicted calculations, it is anticipated the project will result in a reduction of twenty thousand tons of carbon dioxide (CO2) per year when compared to running with traditional diesel generators.
As a key part of the project, Kenera will convert the existing mud treatment room on Askepott to an electrical power room and install transformers, Variable Frequency Drives (VFDs) and high-voltage switch boards certified to DNV classification requirements.
Kenera will provide a turnkey solution from initial procurement, detailed engineering, installation, and commissioning before handing the project over to Equinor and KCA Deutag’s team in Norway for the day-to-day operations onboard Askepott.
This project is the next step in previous Kenera campaigns to reduce CO2 emissions which have included the energy optimisation of both of Equinor’s Cat J rigs, the Askepott and Askeladden. These projects deployed CO2 and Nitrogen Oxides (NOx) reduction technologies as part of Equinor’s long-term low emissions strategy for 2050 and resulted in the elimination of more than 85 per cent of NOx emissions. Read More
Kenera has secured a contract to deliver five top drives and five iron roughnecks to Arabian Drilling for new build rigs to operate on a major project in Saudi Arabia.
This order follows a previous contract for five top drives awarded in September and further increases the installed base in the Middle East while highlighting Kenera’s commitment to providing technology and drilling solutions to major rig operators in the region.
Delivery of the contract includes the design and manufacture of top drives from Kenera’s rig equipment business, Bentec, which offer superior operational performance and reliability. With its proprietary software, the Bentec top drive optimises the drilling process and ultimately reduces well delivery times. Arabian Drilling will also benefit from remote monitoring and troubleshooting provided through Bentec’s digital service platform rigCARE™.
The contract bolsters the long-standing relationship between Kenera, as the Original Equipment Manufacturer (OEM), and Arabian Drilling that enhances drilling operations performance through the application of key rig technologies. Read More
Kuwait Foreign Petroleum Exploration Company, k.s.c.c. (“KUFPEC”) continues to meet its strategy of rationalizing the current portfolio and maximise value by announcing that KUFPEC UK Limited, a KUFPEC subsidiary, is divesting its 100% shareholding in KUFPEC Norway AS (“KNAS”) to PGNiG Upstream Norway AS, subject to customary approvals by the Norwegian authorities. The deal is expected to be completed in Q4 2023 and has an effective date of 1 January 2023.
TEASER-HAIMER-(1).jpgKUFPEC entered Norway in 2013 with the acquisition of Norske AEDC and has grown its portfolio through both acquisition and participation in licensing rounds. KNAS has stakes in several producing and exploration fields on the Norwegian continental shelf.
KUFPEC Chief Executive Officer Mr. Mohammad Salem Al-Haimer stated “we have achieved and exceeded all the targets set when we entered Norway. KNAS has provided KUFPEC with opportunities to develop our Kuwaiti young professionals, gain technological & best practices expertise and achieved high rate of return on investment. The Norway Portfolio has achieved a cumulative net income to KUFPEC exceeding $600 million and an investment payback by early 2022, with an approximate IRR of 14% from 2013 to 2022. This transaction has allowed both parties to meet their respective strategic targets and group synergies. Although we have sold our current portfolio, Norway is still considered one of our core areas of interest and aligns with KUFPEC’s Strategic Directions, focusing on enhancing our portfolio. We will continue evaluating opportunities and focus on organic growth”. Read More
Invictus Energy Limited provided an update of drilling the Mukuyu-2 well at its 80% owned and operated Cabora Bassa Project in Zimbabwe.
Hydrocarbon gas recovered from Pebbly Arkose downhole sample
▪ Wireline log interpretation identifies multiple hydrocarbon bearing intervals in Upper
and Lower Angwa reservoir sands
▪ Upper Angwa initial fluid sample clean-up shows moveable gas and liquid hydrocarbons
flowing through onboard compositional fluid analyser (CFA)
▪ Vertical sidetrack required to complete wireline and fluid sampling program in Upper
and Lower Angwa targets
▪ Company funded to complete the Mukuyu-2 sidetrack operations
▪ Mukuyu-2 to be preserved for future well test post sidetrack
▪ Shareholder webinar briefing to discuss preliminary results and forward plan Read More
Vestas has received a 239 MW order to power an undisclosed wind project in the USA. The order consists of 53 V163-4.5 MW wind turbines.
The orders include supply, delivery, and commissioning of the turbines, as well as a multi-year Active Output Management 5000 (AOM 5000) service agreement, designed to ensure optimised performance of the asset.
Turbine delivery begins in the fourth quarter of 2024 with commissioning scheduled for 2025. Read More
ADNOC and Santos today announced the signing of a strategic collaboration agreement (SCA) that outlines a pathway towards the potential development of a joint global carbon management platform that could support the decarbonization journey of customers throughout Asia-Pacific.
Additionally, the SCA provides for the companies to work together to advance critical carbon capture and storage (CCS) technologies that are necessary to accelerate the decarbonization of industry worldwide. The parties will also explore the development of a carbon dioxide (CO2) shipping and transportation infrastructure network to enable heavy-emitting sectors capture, ship and permanently store CO2.
Musabbeh Al Kaabi, Executive Director, Low Carbon Solutions and International Growth, ADNOC, said: “ADNOC continues to build on its pioneering role in safely capturing and permanently storing carbon dioxide as we accelerate toward net zero by 2045 and target CCS capacity of 10 million tonnes per annum (mmtpa) by 2030. Through this partnership, ADNOC and Santos will work together aiming to scale-up the carbon management technologies of the future while leveraging our combined expertise and experience in safely transporting, capturing and storing carbon to help markets in the Asia-Pacific decarbonize.”
ADNOC currently operates the Al Reyadah facility, which has the capacity to process 800,000 tonnes of CO₂ per year. The company recently announced one of the largest carbon capture projects in the Middle East and North Africa region at the Habshan facilities, and a carbon capture project at its Hail and Ghasha offshore development, taking its committed investment for carbon capture capacity to almost 4mtpa. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $77.70 | Up |
| Crude Oil (Brent) | USD/bbl | $82.28 | Up |
| Bonny Light | USD/bbl | $82.35 | Up |
| Saharan Blend | USD/bbl | $83.58 | Up |
| Natural Gas | USD/MMBtu | $2.84 | Down |
| OPEC basket 20/11/23 | USD/bbl | $84.44 | Up |
Neste and Hightowers Petroleum, a leading wholesale fuel supplier serving customers in the Midwest region in the U.S., have formed a strategic partnership to offer Neste MY Renewable Diesel™ – the first TOP TIER™ certified renewable diesel fuel certified for its high quality.
This partnership enables Hightowers to supply Neste MY Renewable Diesel to customers across the Midwest region, where the company sees strong demand for lower-emission fuels, especially from the automobile industry. Many car manufacturers have committed to reducing greenhouse gas (GHG) emissions from “first fills” – i.e. resulting from the use of the fuel to fill new vehicles when leaving the production line to ensure they meet technical, storage and environmental requirements between the assembly lines and the delivery to customers. With the use of Neste MY Renewable Diesel, GHG emissions can be effectively reduced by up to 75%* compared with fossil diesel over its life cycle, and as a drop-in solution, it is compatible with all diesel engines, making it an ideal choice for first fill and testing.
“Neste has been supplying renewable diesel to the U.S. West Coast since 2016, and this lower-carbon, more sustainable fuel has already helped many businesses and cities reduce GHG emissions significantly,” says Carrie Song, Vice President, Renewable Road Transportation, Americas at Neste. “We are excited to partner with Hightowers Petroleum and enable businesses and cities now also in the Midwest region to reduce the reliance on fossil fuels and take advantage of this widely available solution to reach their ambitious climate goals.”
“We serve customers who demand the highest quality of fuel, but also are making an effort to reduce their carbon footprint,” says Stephen Hightower, President and CEO of Hightowers Petroleum Co. “Neste MY Renewable Diesel addresses both of those needs with flying colors, providing immediate GHG emissions reductions while delivering high performance and potentially reducing maintenance costs,” Hightower continues.
In addition to reducing GHG emissions, renewable diesel brings other benefits and delivers strong performance. Because it does not contain sulfur, oxygen or aromatic compounds, it combusts cleaner. As a result, vehicles that run on Neste MY Renewable Diesel may require less maintenance. Additionally, Neste MY Renewable Diesel has outstanding cold weather performance, suitable for cold weather conditions as low as -4°F (-20° C). Its high cetane number also gives better start-up and throttle response, which can be particularly useful to businesses with a lot of variety in usage during different seasons. Read full article
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