BP PLC (LSE:BP.) (BP PLC (LSE:BP.) confirmed this week that it is planning to build a green-hydrogen production facility in the Northeast of England.
Named HyGreen Teesside, the FTSE100 company hopes the site would be able to deliver 500Mwe (megawatt electrical output) of hydrogen production by 2030.
Royal Dutch Shell PLC (LSE:RDSB) (Royal Dutch Shell PLC (LSE:RDSB)) dropped plans to develop the controversial Cambo oil field in the North Sea on commercial grounds.
"The economic case for investment in this project is not strong enough at this time, as well as having the potential for delays", the oil giant said in a statement.
British Gas owner Centrica PLC (LSE:CNA) (Centrica PLC (LSE:CNA)), Melrose Industries PLC (LSE:MRO, OTC:MLSPF) (Melrose Industries PLC (LSE:MRO, OTC:MLSPF)), Hyundai and Kia have all invested in a fundraising round by a pioneering UK clean hydrogen producer, HiiROC Limited.
HydrogenOne Capital Growth PLC (LSE:HGEN) (HydrogenOne Capital Growth PLC (LSE:HGEN)), a specialist in investing in hydrogen assets, is also putting in £10mln as part of the fundraise.
Fuel retailers are overcharging consumers by as much as 12p per litre for petrol and 10p for diesel, according to the RAC which wants the government to take action if prices are not reduced,
"If a substantial cut doesn't materialise, we feel this is worthy of government scrutiny as there's no public body monitoring fuel prices to see if they're fair,” said Simon Williams, RAC’s fuel spokesperson.
Oil prices will surge around 66% to US$125 per barrel in 2022, according to JP Morgan, which sees the crude market at the start of a new 'super-cycle’. Crude could reach as high as US$150 per barrel by 2023, the US bank said.
The oil and gas sector is set for another good year in 2022, according to Deutsche Bank, which raised its Brent oil price assumption for next year by 18% to US$75 per barrel.
In a note on the oil and gas sector, the German bank said there is evidence that Brent oil prices are entering “a possibly long period” of support around US$70 per barrel, while gas prices are at risk of remaining at well above historic "normal" levels for at least half of 2022, “if not indefinitely”.
AFC Energy PLC (AIM:AFC, OTC:AFGYF) (AFC Energy PLC (AIM:AFC, OTC:AFGYF), AFC Energy PLC (AIM:AFC, OTC:AFGYF)), a provider of hydrogen power generation technologies, appointed former Arm Holdings PLC luminary Monika Biddulph as a non-executive director.
Biddulph, who holds a PhD in Experimental High Energy Physics from the ETH Zurich, brings over 20 years' experience in both technical and commercial areas within international technology businesses including general management, intellectual property (IP) licensing, marketing and technical roles. Until August 2018, she was a member of the senior leadership team of IP Product Groups at Arm Holdings.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) (Chariot Ltd (AIM:CHAR, OTC:OIGLF), Chariot Ltd (AIM:CHAR, OTC:OIGLF)) said it raised a gross £7.1mln via an oversubscribed placing – cash that will be deployed to re-enter a well offshore Morocco and on other ‘value accretive work’.
The placing was priced at 7p a share, a tiny discount to Thursday’s close. In addition, the company could net a further £1.5mln in an open offer to existing shareholders.
Scirocco Energy PLC (AIM:SCIR) (Scirocco Energy PLC (AIM:SCIR)) said the start of a 3D seismic survey at Ruvuma PSA in Tanzania is a critical milestone for the company and "represents a material value catalyst".
Scirocco Energy holds a 25% working interest in the project.
Aminex PLC (LSE:AEX) (Aminex PLC (LSE:AEX)) told investors the first phase of 3D seismic project has begun at the Ruvuma project, in Tanzania.
Project operator ARA Petroleum confirmed preparation work has been underway since November 15 and line clearance work is due to start next week.
San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF) (San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF), San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF), San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF)) has appointed Julian Tedder as its new chief financial officer and executive director with immediate effect.
“We are delighted to welcome Julian to the team at this time,” chief executive Oisin Fanning said in a statement.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXD) (Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXD), Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXD), Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXD)) raised US$8mln in an accelerated bookbuild share placing as it seeks to expand its portfolio in Wyoming.
Some 30.25mln new shares are being sold at a price of 20p, with the placing run by stockbroker Tennyson Securities.
Powerhouse Energy Group PLC (AIM:PHE, ETR:BT81) (Powerhouse Energy Group PLC (AIM:PHE, ETR:BT81), Powerhouse Energy Group PLC (AIM:PHE, ETR:BT81)) told investors that its partner Hydrogen Utopia International has signed a letter of intent with Simitli, a city in Bulgaria, where it will build a Distributed Modular Gasification plant (DMG).
The DMG project will use Powerhouse technology to convert waste plastics and tyres to create a source of hydrogen.