According to Energy Minister Dan Jorgensen, Denmark is ready to stop offering new licenses in the North Sea and phase out production altogether in 2050 as it takes an historic step toward a fossilfuel free future. The government reached an agreement for which a planned 8th licensing round will be abandoned, as will all future exploration. About 150 million barrels of oil and equivalents will remain beneath the ocean’s surface. Jorgensen said in a statement: “We hope this can inspire others. We’re the first country with a meaningful production to take such a step.”’

Eni has entered the largest offshore wind project in the world. The project previews the installation of 190 turbines of last generation from 13MW each to a distance of beyond 130 km from the UK coasts, for a total power of 2,4 GW. Eni has acquired 20% form the Equinor and SSE Renewables, of the project Doffer Bank (A and B). Under the Dogger Bank scheme, it will be the biggest project in the world, capable of producing renewable electricity for about 5% of the UK demand and providing energy to about 6 million households.

OPEC and Russia have found a new agreement on the production cuts, in the attempt to support the price of the crude oil. The production will be increased of only 500 thousand barrels a day, instead of the 2 million foreseen by the previous agreement. A news which has been considered positive, since the price per barrel immediately grew over 45 dollars in Wall Street, earning over a percentage point. It is a compromise that should satisfy all the parties involved.

Saipem, together with the Italian National Institute of Geophysics and Volcanology (INGV) have signed a non-onerous collaboration agreement to carry out researches on new geothermal energies. In particular, INGV will make available its expertise in the analysis and the evaluation of geothermal resources, while Saipem will provide its expertise as a global solution provider in the engineering and construction of energy plants field and in onshore and offshore drilling, including HPHT (High Pressure High Temperature) wells. The Mediterranean basin, especially Italy, are particularly rich in geothermal resources, but today they are marginally used despite the great potential.

John Gilbert Getty, the grandson of oil tycoon J. Paul Getty, was found dead in a hotel room in San Antonio. The causes of death are still unknown. Six years ago, his brother Andrew was mysteriously killed. With the death of John Gilbert Getty, the saga of the Getty dynasty, once led by the richest man in the world, is enriched by another sad event. John was the grandson of billionaire oil magnate J. Paul Getty and heir to the estimated $5 billion family fortune.

About 22 billion barrels of non-conventional and recoverable crude oil were recently discovered in Abu Dhabi according to SPC (Abu Dhabi’s Supreme Petroleum Council). The SPC has also approved a record Dh448 billion capital expenditure plan for Abu Dhabi National Oil Company (Adnoc) for 2021-2025 to enable smart growth. This oil discovery will shore up the economy of the UAE in these virus-laden times. Among UAE, Abu Dhabi is on top of the list with most of the oil (92 billion barrels), followed by Dubai (4 billion barrels) and Sharjah (1.5 billion barrels).

After seven years of planning and construction, Ansaldo Energia, a subsidiary of the CDP Group, has unveiled its latest gas turbine, the new GT36 at the Genoa plant which was nicknamed ‘Monte Bianco’. It is the largest and most powerful gas turbine ever built in Italy. It will be installed at a combined cycle plant operated by Italian energy company Edison in Marghera, near Venice. Once operational, it will generate enough power for 500,000 homes and also has the ability to partly run on hydrogen.

Norway is offering new exploration licenses. According to Petroleum and Energy Ministry Tina Bru, the so-called 25th licensing round covers nine areas, eight of which are located in the Barents Sea and one further south in the Norwegian Sea and includes 136 blocks across both seas. Tina Bru said in a statement that “New discoveries are necessary to ensure continued activity, ripple effects, employment and governmental revenues throughout the country,”. On the other hand, The Supreme Court has announced to rule on an appeal by Greenpeace and Nature & Youth that oil production in the area.

The new elected president of the United States Joe Biden made it clear during the election campaign that he wanted to ban new permits for oil and gas extraction both onshore and offshore. However, revoking permissions will not be easy, because one thing are the electoral promises, another to revoke the contracts already sold.
There are a number of issues which Biden will have to go through as there are certain laws in force. And in the meantime, president Donald Trump is trying to sell as many drilling rights as possible before his term of office expires on 20 January.

Erg has obtained the authorization to increase capacity of the 48MW Sandy Knowe wind project to 90MW and the capacity of Creag Riabhach to 92MW, from 79MW. The wind farms will have a combined expected production of about 512 GWh/yr, and the total investment cost will be €214mn. The first 50MW of Sandy Knowe is scheduled to be completed by the end of 2021 while remaining capacity is expected by the first half of 2023. The deadline for the Creag Riabhach project is settled for the end of 2022, ERG said.