Other News

China and Scotland to work together on offshore technology

China and Scotland to work together on offshore technology

Leading oil and gas research organisations from Scotland are to travel to China to share knowledge, fortify ties and increase business. A delegation from the Royal Society of Edinburgh (RSE), the Oil and Gas Innovations Centre (OGIC) and DataLab will travel to meet innovation leaders in Beijing to look at […]

Trump signs landmark CCUS legislation

Trump signs landmark CCUS legislation

Last week US President Trump signed a piece of landmark legislation that will encourage the development of the next generation of clean carbon technologies to help fight climate change. The bill passed includes the 45Q tax credits for carbon capture, which could significantly improve the country’s reduction of greenhouse gases, […]

Russia: Exiting the OPEC deal could take 5 months

Russia: Exiting the OPEC deal could take 5 months

Alexander Novak, Russia’s energy minister, has said it could take between 2 to 5 months to unwind the OPEC-led output cut, if it were to be agreed. Late last year, a deal was struck between global producers to reduce oil supplies in 2018, although the agreement is up for review […]

Forties closure has major impact on UK production

Forties closure has major impact on UK production

Recent data from the Office for National Statistics shows that last year’s closure of the Forties Pipeline System had a major impact on UK output and caused the mining and quarrying sector to reduce by nearly 20%. The closure also led to the largest monthly fall since 2012, with statistics […]

Global thermal coal sees 5% growth

Global thermal coal sees 5% growth

The chief coal analyst at Noble Resources has said the global thermal coal market will rise by 5% in 2018, the equivalent to 48 million tonnes of coal more than last year. It was also added that part of this growth would come from imports to India, following two years […]

OPEC has once again increased its expectations for non-OPEC production

OPEC has once again increased its expectations for non-OPEC production

The Organization of the Petroleum Exporting Countries (OPEC) has once again increased its forecasts for non-OPEC production, with US supply growth to exceed expectations for another month. OPEC said in its Monthly Oil Market Report that it had increased its 2018 forecast for non-OPEC supply by 321,000 barrels per day […]

European wind investment down almost 20% in 2017

European wind investment down almost 20% in 2017

European spending on new wind capacity hit a three year low as the industry begins to slash costs to become more efficient as governments reduce subsidies for the sector. Investment into both onshore and offshore wind projects fell to €22.3 billion across the European Union, a fall of 19% from […]

Drax secures two agreements for coal units

Drax secures two agreements for coal units

The power giant Drax has secured two provisional agreements to provide power from two coal power units, worth a combined £10 million, which will provide a total of 1,217 Megawatts of capacity. The provisionally secured agreements will deliver power between October 2021 and September 2022 at a price of £8.40 […]