Jersey Oil and Gas plc (JOG) said it had exciting prospects with a strong cash position of £8.9 million for the first half the year and increased assets, despite trebling losses. RESOURCES Losses for H1 2020 before and after tax totalled £1.2m (H1 2019: £400,000) with expenditure related to the company’s flagship Greater Buchan Area development project […]
Tag: oil and gas
OGA tells operators to reduce flaring-venting
Greenhouse gases from oil and gas flaring and venting on the UK Continental Shelf need to be further reduced, said the Oil and Gas Authority (OGA). Although some operators have lowered emissions, the volume of gas flared and vented in oil and gas production last year was equivalent to 3% of all the natural gas […]
IGas Energy revenues halve as it targets new technologies
IGas Energy plc’s revenues halved to £10.5 million during the six months to June 2020 compared with the same period last year of £22.1 million. The oil and gas company, which recently acquired geothermal developer GT Energy, also announced it would also consider adding new technologies to its existing business. Interim results showing EBITDA at […]
Offshore oil and gas licence review will ensure net zero
The Government is to review its policy on the UK’s future offshore oil and gas licensing regime as part of its plans to achieve net zero emissions by 2050. Initial findings and next steps will be published in the forthcoming Energy White Paper. More than half of the UK’s electricity comes from renewables including wind […]
Egdon granted more time to drill North Kelsey-1
Egdon Resources Ltd has been granted more time to drill PEDL241, containing the North Kelsey-1 well in Lincolnshire. EXTENSION Operator Egdon holds 80% and Union Jack Oil plc 20% in the licence. Lincolnshire County Council first granted temporary planning permission to drill an exploratory conventional oil in 2014. Egdon has now been given a further […]
UKCS production losses fall 25% as efficiency rises
The UK Continental Shelf (UKCS) last year saw an improved production efficiency for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target. REGIONS Figures from the 2019 Production Efficiency Report by the Oil and Gas Authority (OGA) show an increase of five percentage points from 2018, with every […]