The Lancaster field, to the west of Shetland, has produced its first oil, according to operator Hurricane Energy. The company is pioneering drilling in “naturally fractured basement” rock, where disruptions such as earthquakes have created pools of trapped oil and gas along seabed ridges. It said that on Tuesday the Aoka Mizu floating production and storage ship completed a 72-hour production test. This reached the target flow from two wells of 20,000 barrels of oil per day. Full production will take longer to ramp up, following the test.
BBC 6th June 2019 read more »
French bank Crédit Agricole has said it will stop investing in thermal coal production in EU and OECD countries by 2030, as it pledged to align its activities with the Paris Agreement in a new strategic growth plan published yesterday. The world’s largest cooperative financial institution, which consists of almost 40 local and regional banks as well as the central Crédit Agricole institute, said it would commit all its entities to a common Paris Agreement-compliant climate strategy to be published in 2020.
Business Green 7th June 2019 read more »