northsea
US energy giant Chevron has become the latest oil and gas company to pull out of North Sea operations following UK Chancellor Jeremy Hunt's rejection of pleas to pause the "windfall" tax on energy companies. The move comes after some 55 years of Chevron working in the area. The company said it had taken the decision after looking closely at its operations around the world, to see which of its businesses and assets remained competitive and in a strong position to take on future challenges. Chevron denied that the decision had anything to do with the current UK tax laws. No signs of Chancellor r...
Euronews (English)
UK energy company EnQuest is planning to start drilling for oil in the North Sea in what it expects to be the highest "yield" of oil there over the past 20 years. The group was recently awarded a licence to drill in the North Sea in a controversial decision that ignored warnings from scientists and the United Nations urging countries to stop developing new fossil fuel resources because of climate change. The Equinor Rosebank North Sea oil field was last September given the go-ahead to drill for the 350 million expected barrels of oil is expected. EnQuest Heather, a subsidiary of EnQuest, was g...
Euronews (English)
Europe has been heavily dependent on North Sea infrastructure for several decades. Although this mainly includes oil and gas, the North Sea also provides wave and wind energy, fishing opportunities, and hosts a lot of telecommunications infrastructure. Recognising this area's inherent importance, European nations have significantly ramped up North Sea exploration and drilling in the last several years, with a number of projects lined up for the next few years. The UK, the Netherlands, Denmark, Germany and Norway are the five European countries leading this race to make the most of the North Se...
Euronews (English)
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