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Italy
Italy Applies 50% Windfall Tax on Energy Companies' Extra Income, Draft Shows
Italy plans to apply a 50% one-off windfall tax next year on income of energy companies that have benefited from the surge in oil and gas prices, a draft of the…
Crude Oil
Nigeria’s Oil Industry Can Flourish Despite Oil Theft
A recent report from NEITI revealed that the Nigerian government had earned $741.48 billion from oil and gas between 1999 and 2020.
Oil Field
Chinese Oil Giant Spends $1.9 Billion on 5% Stake of Huge Brazilian Oilfield
China’s oil and gas giant CNOOC has paid Brazil’s Petrobras $1.9 billion to buy 5% in the production sharing contract for the huge Buzios offshore oilfield, t…
Germany
German Finance Ministry Wants 33% Windfall Tax on Energy Firms - Die Welt
Germany's finance ministry aims to introduce a 33% tax on oil and gas companies that have benefited from windfall profits, Die Welt newspaper reported on Tuesda…
Energy Investment
Britain’s Windfall Tax Risks North Sea Cash Flight, Output Drop, Industry Warns
North Sea oil and gas producers hit back after Britain's decision to raise a windfall tax on the sector, warning the move risked jeopardizing investment in the …
United Kingdom
UK to Spend £20BN Closing off 2,000 Oil and Gas Wells in Next Decade, Report Says
Offshore Energies UK estimates 200 wells will be decommissioned every year at a cost of £7.8m each
Crude Oil
Colombia Reportedly Reconsidering Its Idea to Halt on New Oil and Gas Projects
Colombia could reconsider a campaign pledge from its newly-elected leftist President Gustavo Petro to stop new oil and gas exploration licensing in the country,…
Hydrogen Production
Inpex to Trial Blue Hydrogen and Ammonia Production in Japan
Japan's biggest oil and gas explorer, Inpex Corp, said on Tuesday it will build facilities to produce hydrogen and ammonia using its domestically produced natur…
Floating Offshore Wind
Equinor Starts Production at Norwegian Floating Wind Farm
The Hywind Tampen floating offshore wind farm off the west coast of Norway, which will supply power to oil and gas fields and cut their emissions, started produ…
Canada
Canada, Nigeria Target Oil and Gas Methane Emissions With New Laws
Oil and gas producers Canada and Nigeria have become the latest countries to tackle the potent greenhouse gas methane with laws to rein in emissions in the foss…
Crude Oil
UK Considering Big Increase in Energy Windfall Tax, Sources Say
British finance minister Jeremy Hunt is considering a big increase in a windfall tax on oil and gas firms and extending it to power generation firms as he tries…
Crude Oil
UK’s Market-Defying North Sea Oil IPO Falls Flat
After braving high-level market volatility in Britain’s biggest IPO of the year, North Sea oil and gas producer Ithaca Energy warned that any further boost to …
Carbon Emissions
COP27: UAE Says Will Carry on Pumping Oil Responsibly
The United Arab Emirates will be a responsible supplier of oil and gas for as long as the world needs.
Floating Offshore Wind
Oil Firm Equinor Looks to Celtic Sea for Floating Wind Development
Norwegian oil and gas major Equinor on Monday said it was interested in developing a "gigawatt scale" floating offshore wind project off the coast of Britain i…
Oil&Gas Drilling
Drillers Ask U.S. To Exempt Smallest Wells From Looming Methane Rule
Oil and gas companies have asked the Biden administration to exempt hundreds of thousands of the nation's smallest wells from upcoming rules requiring drillers …
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