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British Energy News

18 Oct 2023

Shell's Australian FLNG Facility Poised for Mid-November Restart

Shell is expected to complete maintenance at its flagship Prelude liquefied natural gas (LNG) facility off Australia by mid-November, two sources close to the project told Reuters on Wednesday.The British energy giant started maintenance work at the 3.6-million metric ton a year floating LNG plant in August. A top Shell executive then said in September it was a "major turnaround" work that would last roughly two months.The maintenance is now expected to be completed by mid-November, slightly longer than initially planned after several new issues were discovered and fixed, one of the sources said."The first LNG delivery cargo is now expected by mid-November," the second source said.The last cargo to have left the facility was on Aug.

15 Aug 2023

BP Backs Green Hydrogen Start-Up

Source: Advanced Ionics

BP has invested in a start-up company developing technology seeking to use vapour from heavy industry to sharply reduce the production costs of zero-carbon hydrogen.BP Ventures, the British energy giant's venture capital arm, was among several investors in a $12.5 million Series A financing in U.S.-based Advanced Ionics, the companies said on Tuesday.Other investors include Mitsubishi Heavy Industries, Clean Energy Ventures and Gatemore Capital Management.Green hydrogen, produced by splitting water through electrolysis using renewable energy…

12 May 2020

Samsung Delivers LNG Carrier to GasLog

(Photo: GasLog)

Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA, GasLog said in its latest quarterly report.The handover follows the April 1 delivery of Samsung-built sister ship GasLog Windsor, now on a seven-year charter with a wholly owned subsidiary…

02 Apr 2019

Vitol, Novatek Sign LNG Deal for Arctic 2 Plant

Novatek Gas & Power Asia, a trading unit of Russia’s largest independent natural gas producer and LNG operator, Novatek, signed a heads of agreement with British energy and commodity trading company Vitol for the supply of LNG from the Arctic LNG 2 project.The Agreement envisages concluding a 15-year contract with annual supply of one million tons of LNG from the Arctic LNG 2 project as well as other Novatek’s projects.The LNG will be shipped on FOB basis to Novatek’s transshipment terminals in the Murmansk region and Kamchatka, said a release.“We commenced contracting LNG volumes from our new project Arctic LNG 2,” noted Novatek’s First…

07 Feb 2017

Lawsuit Drags BP's Oil Trading Division into the Red

Brian Gilvary (Photo: BP)

BP's oil trading business, one of the biggest in the sector, reported a rare loss in the fourth quarter after it lost a $70 million lawsuit over an oil cargo delivered to a Moroccan refinery. BP's Chief Financial Officer Brian Gilvary said due to flat trading positions ahead of a crucial OPEC meeting at the end of November, and the lawsuit, the company's oil trading division made a "small loss" in the fourth quarter. "There was a natural inclination to flatten up all of the books and there was also an adverse court ruling against us which is a $70 million hit," he told analysts on Tuesday.

09 Apr 2015

UK Summons Argentine Ambassador over Falklands' Comments

Britain said on Thursday it had summoned the Argentine ambassador to explain the latest war of words over the disputed Falkland Islands which included a threat to prosecute British energy firms operating in the area. Last week, Premier Oil Plc and Falkland Oil and Gas Ltd said they had made an oil and gas discovery at a well off the south Atlantic islands, the first in a nine-month drilling campaign. Argentina's President Cristina Fernandez called the announcement "almost provocative", and Argentine officials warned they were planning legal action against oil firms operating near the Falklands, which lie 300 miles off the Argentine coast and 8,000 miles from Britain.

15 Jan 2015

BP, Conoco Cutting North Sea Jobs

Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world's most expensive exploration areas as oil prices tumble. Although the cuts are relatively small for companies with dozens of thousands of employees, they come at a politically sensitive time in Britain as the Scottish independence debate continues and a May parliamentary election looms. BP said the cuts of 200 onshore staff and 100 contractors were part of a previously announced $1 billion reorganisation aimed at simplifying the company's structure after it sold billions of dollars of assets.

04 Sep 2014

Accident Claims One in BP North Sea Incident

A man has died after an incident on a North Sea oil platform owned by BP Plc, the company said on Thursday. "BP is deeply saddened to confirm that an offshore worker has died following an incident on the Unity platform," BP said in a statement. It did not name the man but said the man's immediate family had been informed. The Edinburgh-based Scotsman newspaper website said it was understood the death had resulted from a fall. BP's safety record on its oil rigs has been under heightened scrutiny since the 2010 Gulf of Mexico oil spill. The offshore worker was an employee of British energy services firm Cape Plc. The Unity platform does not produce any oil but is part of the BP-operated Forties Pipeline System (FPS), which brings oil to shore in Scotland.

23 May 2012

U.K., Norway, Oppose Harmonised EU Offshore Safety Legislation

Norway’s oil industry has objected to the EU initiative. They believe that the EU has very little expertise in offshore operations, and there may be negative consequences if it tries to regulate safety on the Norwegian Continental Shelf, reports Aenergy. A united UK oil industry shares the Norwegians’ criticism of the proposed regulations, believing they are a threat to offshore safety. “I have been in contact with the Norwegian Oil and Energy Minister Ola Borten Moe about this matter and we share a common line. Norway and the UK can confirm that we have the most robust safety regime in the world. This dynamic work must in no way be undermined or put at risk,” Charles Hendry, Conservative Minister of State, Department for Energy and Climate Change, tells Aftenbladet.

17 Jan 2011

BP and Russia Sign Arctic Oil Deal

According to a Jan. 15 report from Aljazeera, BP has signed a joint venture with Russia's state-controlled energy giant Rosneft to explore for offshore oil and gas and in a deal that gives the UK company access to areas of the Arctic previously reserved for Russian companies. The British energy giant will swap five per cent of its shares, valued at $7.8b, for 9.5 percent of Rosneft in an agreement that immediately raised concerns about U.S. economic security from U.S. politicians and criticism from environmentalists. (Source: Aljazeera)

11 Jun 2010

BP to Burn Off Some Collected Oil

According to a June 10 report from Reuters, BPwill begin burning up to 10,000 barrels a day of oil from its Gulf of Mexico leak possibly as early as Monday, June 14, a company executive said. The British energy giant is collecting oil spewing from its blown-out seabed well through a containment cap and plans to test a second system to capture more oil over the weekend, Kent Wells, BP's senior vice president of exploration and production, said in a telephone briefing. BP said the cap system atop the well collected 15,800 barrels (660,000 gallons/2.5 million liters) of oil on Wednesday, June 9, a small increase over the 15,010 barrels captured the day before. (Source: Reuters)

13 Nov 2003

MHI Wins Gas Ship Order

Mitsubishi Heavy Industries Ltd. reportedly won an order for four liquefied petroleum gas (LPG) carriers from a shipping unit of British energy giant BP PLC, with the first due for delivery in 2006. While a total order value was not divulged, it is believed to be the first time that a Japanese shipbuilder has won an order for four LPG carriers all at once. The double-hull ships will have a capacity of 83,000 cu. m. each.

26 May 2006

Stratos Announces Newly Elected Directors

Stratos Global Corporation announced that Sir Robert Walmsley and Mr. Michael Bayer were elected as new members of the Corporation's Board of Directors at its annual general meeting held May 11, 2006. Sir Robert Walmsley was Chief of Defence Procurement at the UK Ministry of Defense ("MoD") from 1996 until his retirement from public service in 2003. Prior to his MoD appointment, Sir Robert was a career officer in the Royal Navy, where he rose to the rank of Vice Admiral in 1994 and served for two years as Controller of the Navy. Sir Robert is also currently on the Board of Directors of British Energy Group plc., Cohort plc, EDO Corporation and General Dynamics Corporation.