Bradda Head Lithium exceeds targets, secures US$3 million royalty and moves closer to production. Watch the video here.
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https://www.energyvoice.com/oilandgas/north-sea/488977/energy-economist-accuses-harbour-of-fancy-accounting-to-get-headlines/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20-%20Daily%20Newsletter%202023-03-10&utm_term=Energy%20Voice%20-%20Newsletter
Clearly trying to send message to the gov, which we know. Helpful to see the context
DYOR
Key extract
The Chancellor Jeremy Hunt will deliver his fiscal update next week, and there’s a degree of optimism he may announce some changes to the EPL to make it more palatable.
DYOR
I dont see how admitting that youll have less than expected is 'fancy accounting '.
NVESTORS START TO REALIZE THE ENERGY TRANSITION WILL TAKE DECADES
BY TYLER DURDEN: THURSDAY, MAR 09. Authored by Tsvetana Paraskova via OilPrice.com,
"Energy Trilemma"
Unlike a few years ago, everyone in the oil and gas industry is now talking about decarbonization and net-zero emissions. But unlike in 2021, ESG considerations are not top of the agenda—2022, with the Russian invasion of Ukraine and the price spikes in gasoline and power prices, upended the debate.
The energy transition narrative, from the industry's point of view, became part of the 'energy trilemma' as BP's chief executive Bernard Looney has put it—delivering secure and affordable energy when and where it's needed while raising investments in renewables and other low-carbon energy solutions.
According to analysts, there is a broader understanding among the public and governments that until a clean energy system is ready, oil and gas will continue to play a prominent role in global energy supply and, like it or not, we are stuck with fossil fuels for our current energy needs. Right now, fossil fuels account for just over 80% of global energy supply.
"There's a much broader push for decarbonization globally, and there's also a much broader realization that we are 'stuck' with hydrocarbons until we can achieve that decarbonization," Dan Pickering, founder and chief investment officer at Houston-based Pickering Energy Partners, told The Wall Street Journal.
"A bunch more people are saying it's going to take time," Pickering added.
I like this as it shows that the MOCs are not really into the green agenda but just saving face in the onslaught of the WEFs pressure.
On February 9 the NGO ClientEarth, with backing from institutional investors, launched a legal action in the UK against Shell’s eleven current directors individually, alleging board members had failed to prepare the super-major adequately in response to the risks of climate change and were legally accountable.
Shell is also in trouble in the US where another NGO, New Global Witness, has submitted to the US financial regulator a complaint accusing the oil and gas company of greenwashing by “lumping together some of its gas-related investments with its spending on renewables to inflate its overall investment in renewable sources of energy”.
Green energy rollout will push up POO a hell of a lot.
The US Department of Energy states that it will be necessary to double or triple the size of the US electric grid to accommodate the proposed level of clean energy, including EVs, by 2050. This is, of course, a kind of complexity.
If we are already having difficulty with maintaining complexity, how do we expect to double or triple the size of the US electric grid? The rest of the world would likely need such an upgrade, as well. A huge increase in fossil fuel energy, as well as complexity, would be required.
https://peakoil.com/consumption/when-the-economy-gets-squeezed-by-too-little-energy
Whilst I'm not sure I'd use the phrase "fancy accounting" Harbour have definitely presented their accounts in a specific way to support their CEO's anti-EFL agenda. Not sure how beneficial this will be as it's a bit "obvious" to my mind. At the post accounts briefing and Q&A yesterday morning did Harbour specifically say that they would not be investing in the UK? I saw a reference but wasn't sure whether or not this was true and thus ruling themselves out on JOG?
Turning to JOG, whilst I didn't previously think that news would wait till after the Budget, once we got into March then there would be no news till after the 15th. Personally, I don't think Jeremy will announce any negative news on EFL or incentives and given his comments in December that he would make no immediate change to the EFL floor but would reflect on industry concerns may take this opportunity to introduce a floor.