oil

The Johan Sverdrup 2 development will increase production from 440,000 barrels of oil per day to 660,000 barrels per day

The territory extends from the shoreline to around 215 kilometres offshore, with depths of up to 4,000 metres at points

The new development is designed to process up to 100,000 barrels of oil per day

It has partnered with Neste to turn old cooking oils and residues into renewable diesel for use in its transport fleet

Global Witness suggests any extraction of new oil and gas reserves will see the Paris Agreement’s 1.5°C goal be surpassed

It includes imported goods such as some fuel and oil products in a no-deal scenario

The current US President attempted to overrule a ban brought in by Barack Obama prohibiting offshore drilling in the region

Oil and Gas UK notes this has been acheived following 14 years of decline

The Environmental Audit Committee says fossil fuel activity in the region is incompatible with international climate obligations

That’s the verdict from international advisory firm BDO Global which has made a number of industry predictions