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Another article questioning the rush to net zero.

Revealed: Global warming exaggerated, say soaring number of Britons

https://www.thetimes.com/uk/environment/article/climate-change-global-warming-net-zero-pxznms29qhttps://www.thetimes.com/uk/environment/article/climate-change-global-warming-net-zero-pxznms29q

The reports that Starmer asked Miliband to step down as energy secretary can only have been made public because someone in government leaked it. Starmer is being accused of being too weak to sack Miliband, but the news is out there Miliband is not wanted as energy secretary. How long can a PM survive whilst keeping a minister that everyone know he wants to sack. He has chosen to defer the battle but at some point he will have to grasp the nettle.

From the Telegraph:

"My sources inform me that a battle royal over “green crap” is coming, and growth will trump carbon emissions. “It’s inevitable, we can’t just keep shouting ‘green jobs’,” one official said."

This is also worth reading. Signs that net zero targets could be reviewed.

https://www.thetimes.com/uk/politics/article/keir-starmer-labour-government-blairites-cabinet-growth-svr3xj533

MP0818

I think this is the better read.

It is pointless preaching to the converted. The people who need to be influenced are the green leaning MP’s in Labour and they are more likely to listen to the boss of a “green” energy company than to Badenoch and oil industry leaders. If they can be persuaded to question the net zero dogma it reduces the potential for backlash from the green lobby and could open up the opportunity for Starmer and Reeves to relax NS regulations and fiscal policy.

Unfortunately No.

https://www.telegraph.co.uk/politics/2025/09/05/politics-latest-news-angela-rayner-starmer-house-report/

There is a shuttle tanker at Triton indicating the second lifting following the shutdown.

Interesting but highly unlikely. I have wondered what the NSTR new about Prax when they granted approval of the deal and whether they bent or relaxed the rules.

The July offload was back near the norm so I cannot see why they would return to half loads unless the administrators are pulling the strings and are anxious to get cash in as quickly as possible. I’ve noted Altera Thule at Macduff. Realistically the next offload should be the end of the month to mid October but you can never be certain, so a daily watch is required.

The NSTA are reporting July production at 6.0 mb/d which is up from 5.91 mb/d for the previous month, and suggests the decline rate curve is flattening. August is usually when annual maintenance is carried out so do not be surprised if there a drop reported next month.

Laser I trust you are still keeping watch on shipping.

Rising bond yields.

In that case how can you judge whether a sale is likely to be better than awaiting until the end of the agreement.

Littlened

You have still not answered my question. If an offer were to be made how much do you think it might be.

The maths is not tricky, you only have to take 17.5% and divide it by the number of DCUs

Chessman

Government approval is not the issue. The current delay is due to Neo holding back with FID and submission of the Field Development Plan primarily due to uncertainty over the EPL and what will replace it.

JOG have previously said that the draft Field Development Plan received approval.

The final Field Development Plan can only be submitted when the decision to invest (FID) has been made.

https://www.nstauthority.co.uk/media/y3wkdnuq/ukcs-development-and-production-consent-guidance.pdf

see page 6

“Once the project has matured toward a decision by the Licensee to invest in the project (“Final Investment Decision” or “FID”), the Field Operator must submit the final FDP to the NSTA”

Littlened

Given the possible cancellation of the Bluewater contract along with the declining production rate I find it hard to imagine there will be any serious offers. However nothing can be ruled out and so if there were to be an offer how much could it be?

Rodney T

Two points:

1 The latest Aurelia quarterly report mentions that the 180 day cancellation period could be reduced to 90 days.

“In June 2024 the contract for the FPSO Aoka Mizu with the customer was amended to gradually reduce the facility fee as from June 2024. It is expected that the contract will be sequentially amended, which requires Lenders consent under RCF documentation, to a 50/50 profit sharing arrangement effective May 1. 2025. The FPSO Aoka Mizu still has an undefined end date but (if amendment is effective) a 90-day cancellation period going forward that can be invoked by both Bluewater and the customer.”

2 RKH have put out an RNS today confirming they are raising funds, which suggests that Navitas are moving towards FID. Not exactly good news for us.

Good to see some positive drift today.

The latest Aurelia Energy N.V. Quarterly report is out.

No indication that notice to terminate the AM contract has been given but there appears to be a possibility the notice period may be reduced from 180 days to 90 days.

“The FPSO Aoka Mizu still has an undefined end date but (if amendment is effective) a 90-day cancellation period going forward that can be invoked by both Bluewater and the customer”

file:///C:/Users/rober/Downloads/652450_Aurelia%20Q2%202025.pdf

Hank

There were only two offloads during the period and both were short loads. I predict 0.325p - 0.345p subject to the exchange rate mid September.

Chris Cox has some history with Hurricane Energy. It was reported that whilst with Spirit Energy his meeting with Neil Platt at Aberdeen airport led to the farm in agreement for the Lincoln and Warwick fields. Spirit paid in full to drill three wells but eventually it came to nothing.

Once bitten twice shy.

Is it publicly available?

Yes, its on JOG's website (analyst research)