Andrew Mackenzie

Scaling carbon capture and storage (CCS) requires more than capturing emissions—it depends on building confidence in the subsurface from the very start. This week, we’re pleased to support one of the UK’s most ambitious CCS initiatives through the award of a contract to deploy SLB’s Sequestri carbon storage solutions for the Northern Endurance Partnership (NEP) Project. The project scope covers critical phases of site development, including drilling, measurement, cementing, fluids, completions, wireline, and pumping services—bringing an integrated approach to reliable, efficient carbon storage. As momentum accelerates around industrial decarbonization, connecting the full CCS value chain—from capture through to permanent storage—is becoming increasingly important to ensure performance and impact. With our combined Sequestri solutions and SLB Capturi modular carbon capture plant portfolios, we have the capability to support the full CCS value chain through scalable, ready-to-deploy solutions. We look forward to contributing to this important storage project and building on the momentum in industrial decarbonization. Read more about the SLB and NEP contract announcement: https://lnkd.in/dveWg5b7 SLB New Energy #WeAreSLB #CCUS

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Critical minerals have emerged as a frontline issue in safeguarding energy & economic security. The International Energy Agency (IEA) will continue to lead international efforts to ensure reliable & responsible critical mineral supplies. Our latest Outlook ➡️ https://iea.li/41kxjmS

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This is a really excellent new article from Professor Dieter Helm. It is appropriately detailed and technical, but worth reading the full version, but if even the conclusions (quoted below) can at the least get wider traction and understanding - if not by the Department for Energy Security and Net Zero, then surely by HM Treasury - then we may not be too late to course correct? In addition to the wider arguments, the article also makes clear that the obvious corollary of electricity prices being set mostly by gas being the highest marginal price, means that wholesale electricity prices will also go down as gas prices go down (which they are doing and supply / demand suggests they will continue to do so), but that continuing blindly driving on the current path of 95% renewables will even mean this benefit is squandered on the altar of ideological policy. "It is hard to conclude other than that the Secretary of State is deluded when he champions the 2030 net zero target as a route to lower costs of energy through ever-cheaper renewables. Rather, it reflects a conclusion seeking a cost measure that confirms it. The correct measure is system costs. The reality is that net zero by 2030 is expensive and that by dashing flat-out towards it, the result will be even higher costs. That points to an even more challenging reality: it is going to be expensive to decarbonise carbon consumption, and it is a delusion to think that having for so long not been paying the cost of the pollution our consumption is causing, by now paying for pollution, it is going to be all win–win. The price is not coming down, as heralded by the Secretary of State. It is going up, with a system requiring twice the generating capacity and much more transmission, lots of batteries and storage, and a great deal of back-up generation to keep the lights on, all to achieve the same amount of electricity. To think otherwise is to commit the broken windows fallacy – that by breaking windows, economic growth is increased. Replacing one set of windows with another is a net cost, and replacing the windows with more glass than was previously needed is a bigger cost still. It is time to be honest about the costs of the net zero target." Keir Starmer Rt Hon Rachel Reeves Claire Coutinho MP Kathryn Porter Simon French https://lnkd.in/dQXYEnPj

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The sun rises in the West. Oddly-named Atome PLC, led by French former banker Olivier Mussat, just signed a 10-year 630 M$ offtake agreement for green hydrogen-based fertilizers with global industry leader Yara, based on a Paraguay-based facility. This project shows the way forward for green hydrogen and is a clear rebuttal to the hydrogen-bashing flock: it is market-driven, does not get government grants or subsidies and has proper project financing in place with multilateral and commercial banks. The Atome model rests on four pillars, which should be emulated elsewhere: - Long-term access to cheap renewable electricity, in this case the unused hydroelectricity quota on the Paraguayan side of the 14-GW Itaipu dam complex; - High-value offtake: while fertilizers is a low-margin, highly competitive industry in many world regions, prices in Paraguay and neighboring Brazil tend to be structurally higher due to fast and sustained demand growth (as crops keep expanding to serve global food markets) and supply shortfalls, met by ever-growing imports (including high-carbon product from Russia...) - No need for new complex transmission infrastructures: the joint location of energy, green hydrogen and fertilizer production reduces the so-called "project-on-project" risk which bedevils many projects - which could be addressed in Europe via a transition based on blending with natural gas pipelines and turbines, allowing a progressive ramp up of volumes; - Backing by strong technical and financial partners. Let us follow Atome! https://lnkd.in/epQJjjbu

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🌍 Mega-Mergers in Oil & Gas: Lessons for Investors (1998–2024) 💡 Over the past 25 years, the oil & gas industry has been defined by waves of mega-mergers, each reshaping market dynamics, corporate power, and investment opportunities. These deals—often worth $50–80 billion each—are not just corporate headlines. They are strategic moves with direct impact on global markets, equity valuations, and commodity prices. 📊 Key Takeaways from 1998–2024: 🔹 Late 1990s consolidation boom: Exxon + Mobil ($79B, 1999) BP + Amoco ($63B, 1998) Total Fina + Elf ($51B, 1999) Chevron + Texaco ($45B, 2000) 👉 Triggered by low oil prices ($19/barrel in 1999), these deals created supermajors with scale to survive volatility. 🔹 2000s strategic integrations: Shell + Dutch ($74B, 2004) ENEL + Endesa ($63B, 2004) KKR + TXU ($44B, 2007) 👉 Driven by rising prices ($42–62/barrel), companies pursued vertical integration and diversification into power & LNG. 🔹 2010s: resource nationalism & shale revolution: Rosneft + TNK BP ($54B, 2013) Exxon + XTO ($40B, 2009) Shell + BG ($70B, 2016) 👉 With oil near $93/barrel, majors secured unconventional reserves, LNG portfolios, and strategic national partnerships. 🔹 2020s: U.S. shale & energy transition positioning: Aramco + SABIC ($69B, 2020) Occidental + Anadarko ($55B, 2019) Exxon + Pioneer ($60B, 2023) Chevron + Hess ($53B, 2024) 👉 Consolidation now centers on shale dominance, Guyana’s offshore reserves, and integration with chemicals—while preparing for the energy transition. ⚡ Investor Implications: 1️⃣ Cycles drive M&A: Mega-deals peak in high-price environments when cash flows are strong. 2️⃣ Valuation discipline matters: Overpaying in bullish cycles (e.g., some 2010s deals) often led to shareholder value destruction. 3️⃣ Scale = resilience: Larger, integrated players weather downturns better and gain pricing power. 4️⃣ Future outlook: Expect next-gen deals to blend hydrocarbons with LNG, carbon capture, and renewables. 💡 Investment Insight: For equity investors, energy M&A signals where capital is flowing. Tracking consolidation helps anticipate future winners, from supermajors doubling down on oil to emerging leaders in LNG and energy transition assets. ✅ INVEST gives you the knowledge to anticipate global financial trends, from oil supercycles to M&A waves. 👉 Discover more insights at www.INVES7.com 💙 Like & Share if you believe energy consolidation will define the next decade of investing. Source: ENERGY ANALYTICS #Investing #Oil #EnergyMarkets #Mergers #Strategy #INVEST

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US readies new approach to biofuel waivers New York, 20 August (Argus) - President Donald Trump's administration told federal courts yesterday that it was close to deciding whether to grant small oil refineries exemptions from federal biofuel blend mandates. The Environmental Protection Agency (EPA) "has now developed a new approach for reviewing small refinery exemptions", a Department of Justice lawyer told two federal circuit courts in cases involving small refineries denied waivers in the waning days of President Joe Biden's term. The cases involve two Calumet refineries — a 57,000 b/d Louisiana facility and a 15,000 b/d Montana plant — as well as a 75,000 b/d CVR Energy refinery in Oklahoma. The filings further indicated that the government planned to soon "issue decisions" on a range of exemption requests, including those directly involved in the cases as well as undecided ones. By Cole Martin #EPA #RINs #SREs #biofuels #Renewablediesel

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