North Sea Forties Crude Sailings Resume
Loadings of Forties crude at Hound Point terminal in Scotland have resumed, a spokesman for Ineos, operator of the Forties pipeline, said on Friday. "At the moment, sailings from Hound Point have re-commenced," spokesman Richard Longden said, adding that a vessel had sailed on Thursday. Ineos had said on Thursday that loading was temporarily postponed due to adverse weather conditions. Forties is one of five North Sea crudes which underpin the Brent benchmark. Reporting by Alex Lawler
World’s First Floating Wind Farm Starts Production
The world's first offshore floating wind farm has started to deliver electricity to the Scottish grid, providing power to approximately 20,000 households. The 30MW Hywind Scotland wind farm, operated by Statoil in partnership with Masdar 25 kilometers offshore Peterhead in Aberdeenshire, Scotland, was officially opened today by First Minister of Scotland, Nicola Sturgeon. “This marks an exciting development for renewable energy in Scotland,” First Minister Sturgeon said.
Britain Warns Scots: Independence would Hurt Energy Industry
Britain on Tuesday warned Scots that voting for independence would put jobs and investment in the Scottish energy industry at risk, threatening the commercial viability of North Sea oil and gas fields and renewable energy projects. In September Scotland will hold an referendum on whether to sever its 307-year tie with England, with Scottish nationalists arguing that a split would give them greater economic freedom. The British government wants to keep the union intact and has produced a series of analysis papers arguing its case on issues such as the currency, security and finance.
Oil Firms Opt for Stability, Urge Scotland to Stay in UK
Reuters - Royal Dutch Shell has become the second energy heavyweight to urge Scotland to stay in the United Kingdom as the campaign for Scottish independence battles mounting opposition from businesses. Shell is a key player in the North Sea oil and gas fields off Scotland and its Chief Executive Ben van Beurden said a vote for independence on Sept. 18 would mean greater uncertainty for the energy industry. Last month, the boss of BP warned Scottish independence could cause "uncertainties" for his company.
Cameron Warns of Economic Threat from Scottish Breakaway
British Prime Minister David Cameron told Scots on Thursday that much of their industry and more than one million jobs could be put in jeopardy if they vote next month to leave the United Kingdom. In a high-stakes gamble three weeks before a referendum, Cameron travelled to Glasgow to spell out the risks of secession, having previously remained largely on the sidelines of the debate due to both his and his Conservative party's limited appeal in Scotland. Ignoring concerns that the campaign to keep the union together has been too negative…
Endeavour Energy Kicks Off North Sea Assets Sale
Endeavour Energy UK has launched the sale of its North Sea oil and gas assets at an ambitious price target of $500 million, according to two industry sources and a document seen by Reuters. The sale is part of group asset sales after Endeavour's U.S. parent company filed for bankruptcy in 2014. The UK company and its administrators have hired audit firm Deloitte as their corporate finance advisor on the sale, dubbed "Project Arrow", the document showed. Information documents for the portfolio…
Statoil Debuts Batwind
A new battery storage solution for offshore wind energy will be piloted in the world’s first floating wind farm, the Hywind pilot park off the coast of Peterhead in Aberdeenshire, Scotland. Batwind will be developed in co-operation with Scottish universities and suppliers, under a new Memorandum of Understanding (MoU) signed in Edinburgh on 18 March between Statoil, the Scottish Government, the Offshore Renewable Energy (ORE) Catapult and Scottish Enterprise. Battery storage has the potential to mitigate intermittency and optimise output.
Scotland Launches Consultation on Fracking
Scotland has launched a consultation on whether to allow unconventional oil and gas extraction such as fracking, its government said on Tuesday, with a vote expected at the end of the year. Substantial amounts of shale gas are estimated to be trapped in underground rocks and the British government wants to exploit it to help offset declining North Sea oil and gas output. However, hydraulic fracking - which involves extracting gas obtained from rocks fractured at high pressure…
Scottish $2.6 Bln Offshore Wind Project Green Lighted
The developer of a 2 billion pound ($2.6 billion) Scottish offshore wind power project said on Wednesday it had won a two-year court battle with a bird charity over plans for the site. Scottish ministers in 2014 approved plans to build the 450-megawatt Neart na Gaoithe wind farm, off Scotland’s east coast. The project had been held up, however, by a legal challenge from the Royal Society for the Protection of Birds (RSPB), which said it could cause the death of hundreds of native birds.
Scottish Government Says 'No' to Fracking
The Scottish government will not support the development of fracking after a public consultation found overwhelming opposition to the practice, the energy minister said on Tuesday. Scotland imposed a moratorium on fracking in 2015 and that will now remain in place for the foreseeable future. "The decision taken today means fracking cannot and will not take place in Scotland," Paul Wheelhouse told the Scottish parliament in Edinburgh.
Scotland Imposes Moratorium on Shale Plan Permits
Scotland has imposed a moratorium on shale gas planning permits and is launching an assessment of the impact of shale gas on public health, Scottish Energy Minister Fergus Ewing told the Scottish Parliament on Wednesday. "We are imposing a moratorium on granting planning consents," the minister, a member of the Scottish National Party, said. There are currently no shale gas projects underway in Scotland, but a moratorium means no Scottish shale gas plans will be approved until it is lifted.
Scotland to Set up Publicly-owned Energy Company by 2021
Scotland will set up a publicly-owned, not-for-profit energy company by 2021 to increase competition and choice for consumers, First Minister Nicola Sturgeon said on Tuesday. "Energy would be bought wholesale or generated here in Scotland – renewable, of course – and sold to customers as close to cost price as possible," she told her party's autumn conference. (Reporting by Elisabeth O'Leary; Editing by Kate Holton)
Divorce Costs Could Sour Scotland's North Sea Hopes
Scottish nationalists are betting $2.5 trillion of hydrocarbons trapped miles beneath the North Sea could bankroll an independent Scotland, but winning control of the European Union's largest oil reserves would be no blank cheque. Scotland says the bulk of Britain's North Sea oil and gas reserves are in its waters, while London says any division would be subject to negotiations should Scots vote to end their 307-year-old union with England in a referendum on Sept. 18.
Scotland May Have Shale for 30 Years' Worth of UK Gas Needs
Scotland, heading for a September independence referendum, could hold enough shale gas resources to cover UK gas needs for more than 30 years, a geological report published by the British government showed on Monday. But Scotland's roughly 80 trillion cubic metres of gas is only around 6 percent of Britain's potential, with the rest mainly in the Bowland Shale region across northern England. The British Geological Survey report, the third focusing on high potential areas which have covered northern and southern England…
British Oil Revenue Forecast Cut in Blow to Scottish Separatists
Revenues from Britain's oil over the next 30 years could be around 25 percent less than previously predicted, the UK's independent budget office said on Thursday, delivering a blow to Scotland's campaign for independence. The Office for Budget Responsibility said in an annual report that since last year predicted combined revenues for the six years from 2013-14 to 2018-19 had been revised down by 8 billion pounds ($13.6 billion). Expected revenues also for the period 2019-20 to 2040-41 have been cut to 39.3 billion pounds, down 12.6 billion from the OBR's estimate last year.
Saltire Energy CEO Honored for Entrepreneurial Spirit
Mike Loggie, Chief Executive of Saltire Energy, a supplier of drilling tools to the offshore oil and gas industry, has been announced as the overall winner of the EY Scotland Entrepreneur Of The Year Awards 2015. Winners were announced at a black tie ceremony at Gleneagles Hotel on Thursday, June 25. Loggie was chosen from among 25 Scottish business leaders to claim the top accolade, and will go onto represent Scotland at the EY UK Entrepreneur Of The Year final in October 2015.
U.S. Shale Gas Shipment to Arrives in Britain
The first shipment of gas fracked from U.S. shale will arrive in Britain next week, upping pressure on Scotland to reassess its opposition to fracking. Chemicals giant Ineos will be importing ethane, obtained from rocks fractured at high pressure, in a foretaste of larger deliveries of liquefied natural gas (LNG) from shale set to reach Europe in 2018. The shipment of ethane, used to make plastics, anti-freeze and detergents, will arrive in Scotland's Firth of Forth on Tuesday, accompanied by a lone Scots piper at sunrise, the company said.
Enpro Subsea Drives $1.8mln into Flow Assurance Project
Enpro Subsea has announced a research and development grant from Scottish Enterprise which will see the firm investing £1.5million ($1.85mln) to develop its flow assurance technology further to address emerging markets in deeper waters. The news came as Scottish Enterprise revealed a new Subsea Engineering Action Plan with the aim of capturing an even bigger slice of the current £50 billion ($61.5bln) global subsea market. Scottish Government Minister for Business, Innovation and Energy…
"Don't Break My Heart," British PM Begs Scots
British Prime Minister David Cameron on Wednesday begged Scots not to rip apart the United Kingdom's "family of nations", flying to Scotland to man the barricades against a surge in support for independence eight days before a referendum. Cameron appealed to Scots to use their heads and their hearts when they voted on Sept. 18. He reminded them of their shared history and bonds with England, Wales and Northern Ireland - twice evoking World War Two and the fight against Hitler.
Scotland Worries Remaining North Sea Oil Won't be Extracted
Scotland's finance minister has told the British government he is concerned that some of Britain's remaining North Sea oil will never be recovered as companies active in the area have scaled down investments due to the weak oil price. John Swinney, who is also Scotland's deputy first minister, urged British finance minister George Osborne in a letter to cut taxes on oil and gas companies and to consider giving loan guarantees to the sector to avoid early field shutdowns and more job losses.