EVOL: Christmas comes early with offshore wind investment as Petrofac shares and North Sea licences go ’Bah humbug!’

Christmas is just around the corner, or maybe it's too early for that kind of chat. Regardless, Ryan has decided to dawn his most garish festive shirt, it's as ugly as it is cheap. However, this is not a Christmas-themed podcast so the Energy Voice trio reluctantly discuss share prices, offshore wind investment and North Sea licences.

 

Allister kicks off the on-topic discussion by diving into Petrofac's share price woes soon after the firm saw values drop by as much as 50%. With low staffing levels for such a big firm and disappointing reports as of late, maybe this isn't the work of those ever-pesky stock shorters.

 

Masdar has been splashing the cash at COP 28 with some serious investment in UK offshore wind, Ed explains. The firm looks to secure 100GW of power and turning its attention to the UK will push it towards these goals. However, there are still issues to contend with in the wind space to be considered. 

 

Finally, Ryan talks about mass relinquishments of licences in UK waters awarded in 2020's 32nd round, this could be down to the usual gripes oil and gas firms have in the country, namely fiscal uncertainty. Is this going to happen with those licences awarded earlier in the year? 

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