HSBC not banking on coal power stations

The new policy will apply globally except for three countries where projects may be given exemption “if no reasonable energy alternative can be found”

Trio wins $1.5bn Statoil drilling contracts

They cover the plugging, maintenance and modifications on 18 of Statoil’s fixed platforms

ExxonMobil makes seventh oil discovery offshore Guyana

ExxonMobil has announced its seventh oil discovery offshore Guyana. It found around 20 metres of “high quality, oil-bearing sandstone reservoir” after drilling at the Pacora-1 exploration well. Steve Greenlee, President of ExxonMobil Exploration Company said: “Pacora will be developed in conjunction with the giant Payara field and along with other phases, will help bring Guyana […]

Derbyshire planning committee opposes INEOS Shale’s tests for fracking

Derbyshire County Council’s planning committee has voted to oppose INEOS Shale’s plans to carry out tests for potential fracking in Marsh Lane. They rejected the recommendation of the council’s planning officers that an application by INEOS would be acceptable if “strict planning controls” are put in place. INEOS Shale intends to erect a drilling rig […]

US ‘poised to become world’s largest oil producer’

The US is poised to become the world’s biggest oil producer, overtaking Russia and Saudi Arabia. That’s the prediction from research firm Rystad Energy, which suggests increased shale oil output from fracking could ramp up US domestic crude production by as much as a tenth in 2018. It says this would bring the nation’s total […]

US opens up majority of its coast for oil drilling

The US has announced plans to open up nearly the entirety of its coast for oil and gas drilling. Ryan Zinke, the Secretary of the Interior for the Trump Administration, said a new leasing programme running from 2019 to 2024 would include several areas of the Arctic, Atlantic and Pacific oceans that have previously been […]

Mature ‘super basin’ in US breaks 44-year oil record

A mature ‘super basin’ located in Texas and New Mexico has set a new oil-production record, beating its previous peak set in 1973. The Permian Basin has reached a new production volume of at least 815 million barrels in 2017, far exceeding its previous peak of 790 million barrels, according to new analysis from information […]

BP’s plans to drill Amazon Basin rejected

BP’s plans to drill for oil in the Amazon Basin have been dealt a further blow. Brazil’s federal environment agency, called Ibama, has released a statement criticising the energy giant’s study into how its proposed exploration would affect the region’s natural surroundings and ecosystems. Its risk assessment for working around the coral reef in the […]

Shell begins oil exploration tests in Brazil

Shell has begun oil production tests in Brazil’s Libra field. The energy giant has started operations on its Pioneiro de Libra FPSO (Floating, Production, Storage and Offloading Unit), located in the Santos Basin. The vessel is the first FPSO dedicated to extended well tests featuring gas reinjection capabilities. Located approximately 180 kilometres off the coast, […]

Statoil makes ‘significant’ oil find on the UKCS

A partnership led by Statoil has made a new oil discovery on the UK Continental Shelf (UKCS). The energy giant made the find in the Verbier sidetrack well in the outer Moray Firth, with a minimum of 25 million recoverable barrels of oil and an estimated maximum stretching up to 130 million barrels. The partnership, […]