UK North Sea flaring has fallen by 50% following four consecutive years of reductions while venting last year increased, said the North Sea Transition Authority (NSTA). EMISSIONS Offshore flaring, when excess gas is burned off, decreased in 2022 by 13% to 22 billion cubic feet (bcf), contributing to a total reduction of 50% since 2018 […]
Day: 15 November 2024
FCM signs earn-in for Zigzag lithium project
First Class Metals plc (FCM) has signed an earn-in agreement with Nuinsco Resources Ltd for a new lithium project in northwest Ontario, Canada. STRATEGIC The deal, first announced in December 2022, is for Zigzag which lies less than 100km from Armstrong in the Seymour Lake area close to current and future planned key infrastructure. The […]
Block looks for partner following part XIB farm-out
Block Energy plc has completed the farm-out to Georgia Oil and Gas Ltd (GOG) of part of licence XIB in Georgia. SEISMIC DATA The transaction, announced in December 2022, results in the company now holding a 50% interest in the new Didi Lilo and South Samgori areas of XIB. Block said that GOG had completed the seismic activities agreed […]
Angus losses rise due to derivative instrument
Angus Energy plc’s rise in losses could see it raise further funds for its onshore oil and gas assets in the United Kingdom. FINANCES The company’s audited annual accounts for the year ended 30 September 2022 showed losses of £111.947m, which included a derivative loss of £110.309m in relation to the derivative instrument, resulting in […]