President Trump has sharply rebuked the UK government over its tax regime for North Sea oil, declaring the resource a “treasure chest” and warning high taxes threaten its economic potential.
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The transport division of the Prax Group’s £10 billion energy empire has collapsed into administration, marking another significant blow for the British husband-and-wife entrepreneurs’ business venture. Axis Logistics, responsible for
The artificial intelligence sector’s rapid expansion and the declining gas sales in Russia are contributing to the formation of a supply glut. The Russian government is now considering investing in
The total volume of active fuel oil exports from Russia to India and Turkey has seen a significant upturn as prices plummet. This news comes amidst a backdrop of rising
Rising political instability and fluctuating global oil prices necessitate the exploration of renewable energy sources. Developing countries are increasingly willing to utilise their natural resources for renewable energy development, which
Renowned for being one of the most recent exploration hotspots globally, Namibia is contemplating offering additional incentives and financing alternatives to international majors preparing plans for offshore oil production in
Oil prices retreated and global equities advanced as market sentiment shifted towards optimism regarding the Iran-Israel conflict, with traders increasingly confident the situation would not develop into a broader regional
The European Commission has proposed reducing the price cap on Russian oil exports in a bid to tighten sanctions, further restricting the Kremlin’s revenue streams. The proposal, led by Commission
Nigel Farage, leader of Reform UK, recently visited Aberdeen, the heart of the UK’s oil and gas industry, to welcome a defecting Conservative councillor into his party. This is the
BP has officially commenced the process of selling its Castrol lubricants business, with expectations to fetch between $8 billion and $10 billion. Reliance Industries and leading private equity firms such
Harbour Energy, the largest oil and gas producer in the North Sea, has announced plans to cut 250 onshore jobs, representing up to a quarter of its North Sea workforce.
The global oil market in 2025 is poised to navigate a complex interplay of supply dynamics, demand fluctuations, and geopolitical uncertainties. As of April 2025, Brent crude prices are hovering
The UK and its G7 allies are contemplating a reduction of the current cap on Russian oil export prices, deemed ineffective by experts. The existing limit of $60 per barrel
Brent crude oil prices plummeted below $60 a barrel, marking a significant drop not seen since April 2021. The decline has been attributed to widespread fears regarding a slowdown in
The Indian government has unveiled groundbreaking legislation designed to revolutionise its domestic oil and gas exploration sector, marking a decisive shift towards energy independence. The move comes as Asia’s third-largest
Harbour Energy, the UK’s largest oil and gas producer, has reported a post-tax loss for the past financial year, as higher taxes on North Sea operations offset a significant increase
