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Posts Tagged ‘oil and gas’

HSBC will no longer finance new oil and gas field projects

Posted in climate, energy policy, UK, Uncategorized, tagged , , on December 14, 2022| Leave a Comment »

This rather arrogant and condescending policy makes neither good business sense nor good social sense (unless you support energy poverty), but I’m sure the executive team is proud. That said, they do seem to have left themselves with a fair amount of wiggle room.

In line with the policy, we will no longer provide new lending or capital markets finance for the specific purpose of projects pertaining to new oil and gas fields and related infrastructure when the primary use is in conjunction with new fields.

We will continue to provide finance or advisory services to energy sector clients at the corporate level, where clients’ transition plans are consistent with our 2030 portfolio-level targets and net zero by 2050 commitment.

HSBC

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China claims almost the entire South China Sea and its estimated 11 billion bbls of oil and 190 tcf of gas

Posted in energy policy, Offshore Energy - General, tagged , , , on August 8, 2022| Leave a Comment »

The dashed red line outlines China’s claim. Needless to say, Brunei, Indonesia, Malaysia, the Philippines, Taiwan, and Vietnam differ with China’s creative interpretation.

Map Source: CENTER FOR STRATEGIC AND INTERNATIONAL STUDIES, PERMANENT COURT OF ARBITRATION

In recent years, satellite imagery has shown China’s increased efforts to reclaim land in the South China Sea by physically increasing the size of islands or creating new islands altogether. In addition to piling sand onto existing reefs, China has constructed ports, military installations, and airstrips—particularly in the Paracel and Spratly Islands, where it has twenty and seven outposts, respectively.

Global Conflict Tracker

Never mind that Beijing’s claims are fundamentally incompatible with established international law on maritime boundaries, the United Nations Convention on the Law of the Sea, which China has ratified and by which it professes to abide. Never mind, as well, that the claims have been ruled fraudulent by an international tribunal in The Hague.

ForeignPolicy.com

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After 75 years, GoM shelf operations roll on

Posted in Gulf of Mexico, Offshore Energy - General, rigs-to-reefs, tagged , , , , , on July 27, 2022| Leave a Comment »

While 93% of GoM oil and 76% of the natural gas is now produced on deepwater leases, successful operations on the shallow waters of the shelf continue 75 years after the first OCS platform was installed. Three of our compliance honor roll companies, Arena, Cantium, and Walter, have successful shelf operations. Arena and Walter are top ten gas producers and top twenty oil producers. Cantium also has solid production numbers and along with Arena is the leading 2022 development well driller on the shelf (see chart below). Other shelf operators like Cox Operating LLC are significant shelf producers.

Without much hype, shelf operators continue to find and extract oil and gas from beneath the shallow waters of the GoM. The 1700 shelf platforms that remain provide energy for our economy and important hardbottom substrate for marine life. Keep it going! Only 25 more years until the 100th anniversary! 😀

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Gov. Abbott responds to UN

Posted in energy, energy policy, tagged , , , , on October 26, 2021| Leave a Comment »

Printed Metal Table Tops - Don't Mess With Texas

UN Secretary General Guterres to Texas:  “Texas must end its reliance on oil and gas production to remain prosperous in the era of climate change.“

Gov. Abbott responds:

Texas to United Nations: Pound Sand

The world is reeling from spiraling fuel costs caused by premature over-reliance on renewable energy.

High fuel costs punish middle class families & stoke the supply chain crisis.

Texas oil & gas is needed right now.

Greg Abbott tweet

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