Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

BP, Shell, Total seek Norwegian green power for oil platforms

Wed, 12th Feb 2020 16:39

* BP announces deep cuts to carbon emissions

* Norwegian platforms already use renewable power

* Request from foreign operators unprecedented

By Nerijus Adomaitis

OSLO, Feb 12 (Reuters) - Oil majors BP, Shell
and Total want to connect some of their oil
platforms to Norway's onshore power grid to reduce carbon
emissions, BP said in a letter to the oil and energy ministry.

Pressure has intensified on fossil fuel companies to curb
emissions as investors threaten to withold funds and public
awareness of climate change grows.

BP on Wednesday said it planned deep cuts to its emissions
by 2050.

Offshore installations at BP's Eastern Trough Area Project
(ETAP), Shell's Shearwater and Total's Elgin-Franklin in the
British sector of the North Sea could be connected via a
300-kilometres-long subsea cable, BP's letter said.

"Electrification of these platforms offers significant
socio-economic benefits by significantly reducing emissions," BP
said in a letter to the ministry seen by Reuters.

It said it had already submitted an application to connect
to the Norwegian grid, asking the ministry's officials to meet
to discuss the project further.

Norway, which has generated huge wealth by exporting fossil
fuel, generates its own electricity almost entirely from
renewable sources, such as hydro and wind power.

A number of oil platforms on the Norwegian continental shelf
have already been connected to the grid, with more projects
expected.

But the requests to electrify foreign oil platforms,
replacing fossil fuel energy with carbon-free power, are
unprecedented, the ministry said, adding it had yet to make a
decision.

"Applications to build interconnections to supply petroleum
installations abroad are not something the energy authorities
have considered or decided on yet," a ministry spokesman said in
an email to Reuters.

The installations would require 100-200 megawatts (MW) in
power capacity, which could be provided by a subsea cable
starting from 2023, with investments estimated in a range of 7
billion to 9 billion crowns ($760-977 million), BP said.

Shell had no immediate comment and Total could not
immediately be reached for comment.

Norwegian news website E24 was the first media outlet to
report on BP's letter.

($1 = 9.2093 Norwegian crowns)
(Reporting by Nerijus Adomaitis; editing by Victoria Klesty and
Barbara Lewis)

More News
27 Oct 2022 07:30

Shell announces $4bn share buyback as Q3 profits beat expectations

(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.

Read more
21 Apr 2022 11:53

Shell turning to China to offload Russian business - report

(Sharecast News) - Shell is reportedly looking to China as it looks to offload its Russian business.

Read more
15 Feb 2022 15:54

Shell preparing to sell North Sea gas fields - report

(Sharecast News) - Shell is reportedly preparing to launch the sale of its stakes in two clusters of gas fields in the southern British North Sea, part of an ongoing retreat of long-time producers from the ageing basin.

Read more
7 Feb 2022 10:52

Berenberg nudges up target price on Shell

(Sharecast News) - Analysts at Berenberg slightly raised their target price on oil and gas giant Shell from 2,350.0p to 2,375.0p on Monday, stating the firm was "on a roll".

Read more
31 Jan 2022 10:53

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

Read more
31 Jan 2022 07:48

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

Read more
28 Jan 2022 11:25

Shell's renewables boss steps down after less than two years

* Elisabeth Brinton leaves for new role, she says* Shell creates two new renewables leadership roles* Thomas Brostrøm to head renewables generation* Steve Hill to head energy marketingBy Ron BoussoLONDON, Jan 28 (Reuters) - Shell's head of renewable...

Read more
27 Jan 2022 16:14

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
26 Jan 2022 17:02

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

Read more
26 Jan 2022 14:36

China's Sinopec awards fewer cargoes in recent LNG tender

By Chen Aizhu and Marwa RashadSINGAPORE/LONDON, Jan 26 (Reuters) - Unipec, the oil and gas trading arm of China's Sinopec Corp has awarded fewer-than-planned cargoes in a recent tender to sell up to 45 cargoes of liquefied natural gas for 2022 del...

Read more
26 Jan 2022 12:16

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

Read more
26 Jan 2022 09:33

UPDATE 2-Commodity, bank stocks lead FTSE 100 higher; Playtech drops

* Oil and banking shares top gainers* Wizz Air reports Q3 loss, expects improvement in spring* FTSE 100 up 1.3%, FTSE 250 add 1.1% (Updates to market close)By Shashank Nayar and Ambar WarrickJan 26 (Reuters) - London's FTSE 100 rose on Wednesday wit...

Read more
26 Jan 2022 09:12

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

Read more
25 Jan 2022 21:13

UPDATE 1-U.S. awards 13 mln barrel exchange of crude from strategic reserve

(Adds details on sale, background on 50 million barrel SPR plan)WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to ...

Read more
25 Jan 2022 20:10

U.S. awards exchange of 13 mln barrels of crude from strategic reserve

WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to seven companies.The companies are Shell Trading US, 4.2 million ...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.