Oil and Gas

There is increasing pressure on the Scottish government to save its only oil refinery Owners of Scotland's only remaining oil refinery Grangemouth have lost more than £1bn over the past 12 years. The looming shutdown, combined with…

Chief energy adviser of the White House, Mr. Michael A. White, said that he was confident that Arab oil companies would not weaponise their energy despite growing anger in the Middle East due to Israel's bombardment and siege on Gaza.…

The oil prices fell to their lowest level since early July, forcing the Opec+ major oil producers group to reconsider extending and intensifying production cuts at their meeting in Vienna in 10 days. Brent crude, the oil international…

In an effort to curb the global warming gas, methane, the EU has agreed upon new restrictions for emissions that will affect Europe's energy industry as well as importers of oil and natural gas. In regulations approved on Wednesday, oil,…

Shell has sued Greenpeace in the amount of £1.7m for a group protesters who occupied a vessel of the oil giant in the North Sea this year. Shell's CEO Wael Sajan has launched proceedings to shift the company away from green energy,…

Rishi Sunak’s plan to boost the energy security of Britain by granting new North Sea licenses each year is being questioned by those who claim Britain won’t be able to handle crude oil. Campaigners warn that by 2035 up to half the…

The oil prices fell to their lowest level in over three months on Monday, with hedge funds betting the conflict won't draw in oil-rich countries in the region. Brent crude, which is the international benchmark for oil, fell 4.2 percent…

BP announced yesterday that its quarterly profit had dropped more than expected due to "weak" performances by its gas traders. The London-based oil giant's shares fell sharply after its underlying third-quarter net profit dropped by 60%…

The World Bank warned that if the conflict escalates in the Middle East, crude prices could reach $150 per barrel. This would be a return to the oil price shock of the 1970s if major producers cut their supply. In its quarterly Commodity…

According to sources familiar with the issue, the UK and EU are pushing the richest countries in the world to stop subsidizing foreign oil and gas production and coal mining. This will happen at a closed door OECD meeting scheduled for next…

Gas prices are still around 50 euros ($53), more than twice the average of the decade prior to Vladimir Putin's invasion in Ukraine. It's never too early to start planning and imagining a future that is less dire: Instead of a world of…

Chevron agreed to purchase Hess for $53 billion in an all-shares deal, as the American oil giant doubles down on fossil energy. This is the second major oil and gas acquisition this month after ExxonMobil acquired Pioneer for $60…

After years of legal disputes, a London judge has ruled that the contract at its centre in a long-running saga between Nigeria and a small energy company was fraudulent. This comes after years of legal wrangling which put Africa's biggest…

Chevron agreed to purchase US oil and gas company Hess for $53 billion in an all-stock transaction, increasing its bet on the demand for fossil fuels for many decades to come. The deal, the largest in Chevron history, gives Hess a $60bn…

Darren Woods, ExxonMobil's chief executive, has been arguing for years that oil and natural gas will continue to be a major part of the global energy mix despite attempts to reduce emissions from burning them. He bet $60bn on the…

Joe Biden’s administration awarded $7bn on Friday to US clean hydrogen project, which included several fossil fuel companies. Washington is moving to build up this sector, which has been hailed as a key part of its decarbonisation efforts.…

Washington has announced its first sanctions against shipping companies who have violated the G7 cap on Russian oil prices in an effort to crackdown on Putin’s “shadow fleet”. The US Treasury blocked all transactions made with a…

The European gas price hit its highest level since March, as traders feared that the global energy supply would be affected by disruptions to pipelines and conflict between Israel and Hamas. Since the Hamas-Israel attack last weekend,…