The North Sea oil industry is burning off as much gas into the atmosphere each year as could meet the needs of a million British homes, according to the industry regulator. The Oil and Gas Authority revealed the new analysis as it vowed to clamp down on unnecessary “flaring” and venting of gas in a drive to reduce the industry’s carbon footprint. In a report, the regulator says that 42 billion cubic feet of gas was flared in the UK North Sea in 2019 — equivalent to 3 per cent of all the gas produced in the region last year.
Times 28th Sept 2020 read more »
Royal Dutch Shell is preparing to cut thousands of jobs as it nears the conclusion of a global restructuring review designed to position it for the green energy transition. The Anglo-Dutch oil group could set out the scale of the job losses as soon as tomorrow, when it is expected to issue a trading update ahead of third-quarter results next month. The update is likely to drive fears that hundreds of roles will be cut in the UK, where about 6,500 of Shell’s 83,000 global staff are based.
Times 29th Sept 2020 read more »