Your weekly oil and gas insights 23/01/2023
Inside Oil & Gas
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Masdar (Abu Dhabi Future Energy Company) partners with Azerbaijan’s SOCAR to develop renewable energy projects with 4 GW capacity
Masdar, one of the world’s leading clean energy companies, has signed joint development agreements with the State Oil Company of the Republic of Azerbaijan (SOCAR) , for onshore wind and solar projects, and integrated offshore wind and green hydrogen projects, with a total combined capacity of 4 gigawatts (GW).
HE Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, said, “These agreements will serve to strengthen the already powerful relationship between the United Arab Emirates and the Republic of Azerbaijan, and are a testament to our shared commitment to diversifying our energy mix and developing low- and zero-carbon solutions.?As global leaders gather here in the UAE for Abu Dhabi Sustainability Week, we are demonstrating the power of partnership and cooperation in advancing the inclusive energy transition and I look forward to seeing more announcements being made at ADSW. “
SOCAR is an integrated national oil and gas company supporting the energy security of the Republic of Azerbaijan. Azerbaijan is pursuing a national target of producing 30 percent of its domestic power needs from renewable energy sources by 2030, as the Centr Asian nation looks to diversify its economy and reduce greenhouse gas emissions.
Henkel signs agreement with 壳牌 on renewable-based ingredients for Persil Service and Purex
Shell is to replace approximately 200,000 tonnes of fossil feedstocks with renewable feedstocks for cleaning ingredients used in Henkel’s largest laundry brands in North America. A third-party certified mass balance approach will be used.
Henkel and Shell Chemical LP have agreed to a five-year collaboration to replace up to 200,000 tonnes of fossil feedstocks used in the manufacture of surfactants with feedstocks that are based on renewable raw materials. The renewable-based surfactants will be used in Henkel’s laundry product brands, including many varieties of Persil and Purex. Surfactants are an ingredient in cleaning products that help lather and lift dirt.
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“This landmark cooperation significantly advances Henkel’s share of renewable-based ingredients in leading consumer brands in North America,” said Ulrike Sapiro, Chief Sustainability Officer at Henkel. “This is an important, concrete step toward realizing our vision of a regenerative planet through a climate-friendly business model. Working together with partners like Shell will help get us there faster.”...
UK’s 33rd offshore oil&gas licencing round hits over a hundred applications
More than one hundred applications have been received for the UK’s 33rd offshore oil and gas licensing round. The round, which closed last week, attracted a total of 115 bids across 258 blocks and part-blocks, from a total of 76 companies.
The process, which will provide a significant boost to the UK’s energy security, opened on 7 October and offered acreage across the North Sea. It included four priority areas, which have known hydrocarbons (oil and gas), in which there was very keen interest and could see production in as little as 18 months.
The round has attracted similar interest to the 32nd Licensing Round in 2019 which received 104 applications from 245 blocks and part-blocks. In 2019 a total of 768 blocks and part-blocks were offered, compared with 931 this year...