The handing over of the Plan for Development and Operation (PDO) on December 13 to the Norwegian Ministry of Petroleum and Energy, marks rapid progress from exploration to execution for the Dvalin North field, which was the largest discovery in Norway in 2021. Dvalin North is the latest in a line of Wintershall Dea operated, and partner operated, project sanctions on the Norwegian Continental Shelf this year.
There are many mistakes in the G7 agreement to put a cap on Russian oil. The first one is that it doesn’t hurt Russia at all. The agreed cap, at $60 a barrel, is higher than the current Urals price, above the five-year average of the quoted price, and higher than Rosneft’s average netback price.
President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a move that would support Beijing's goal to establish its currency internationally and weaken the U.S. dollar's grip on world trade.
Sempra Infrastructure, a subsidiary of Sempra, announced it has entered into a long-term sale and purchase agreement (SPA) with Engie S.A. for the supply of liquefied natural gas (LNG) from Phase 1 of its proposed Port Arthur LNG project under development in Jefferson County, Texas.
Uniper has initiated arbitration proceedings against Russia's Gazprom Export (GPE) before an international arbitral tribunal. This was reported by Uniper CEO Klaus-Dieter Maubach at an event in Düsseldorf.
Over 58,340 solar modules and two battery storage systems under construction at Garzweiler Mine. Commissioning planned for spring 2023.
In order to invest in green energy generation and promote its use, Latvenergo AS has concluded long-term loan agreements with SEB bank and Swedbank Latvija. The loans are planned to be used for the financing and refinancing of the Group's sustainable generation projects in the Daugava hydropower plants and the development of solar parks and electromobility services.
The $7 billion Shaheen project aims to convert crude oil into petrochemical feedstock and would represent the first commercialization of Aramco and Lummus Technology’s TC2C thermal crude to chemicals technology, which increases chemical yield and reduces operating costs. It follows an earlier $4 billion investment into the first phase of the petrochemical expansion completed in 2018.
Power production from the first turbine in the floating wind farm Hywind Tampen in the North Sea started at 12:55 CET on 13 November. The power was delivered to the Gullfaks A platform in the North Sea.
On 1 November 2022, Danish Geodata Agency granted Nord Stream AG a permit for surveying the pipeline rupture location in the Danish exclusive economic zone. However, until recently access to the relevant damage sites for a hydrographic survey was not possible due to the exclusion zone established by the Danish Maritime Authority.