Oil and Gas

IFS warns that the decline in North Sea revenue will cause a shortfall of up to £4,100  per person. The Institute for Fiscal Studies has warned that Scotland will face a much larger deficit than the rest the UK due to the drop in oil…

BP has halted negotiations on a $2bn deal (£1.56bn), which would have invested in an Israeli gasfield, as warfare with Hamas rages in Gaza. The British oil giant was expected, along with Abu Dhabi National Oil Company, to purchase a 50%…

Saudi Aramco increased its dividend by almost $100 billion as it reported its second highest annual profit ever, despite lower oil prices and the state-led production cutbacks that weighed on performance. The company reported that the…

After lowering its natural gas price projections, Britain's largest oil and gas producer anticipates generating less free cashflow this year than expected. Harbour Energy's free cashflow will be "marginally" positive after cutting its…

Saudi Arabia, Russia and other Opec+ countries have extended their voluntary cuts in oil production by another three months. They are trying to increase prices which have been subdued despite geopolitical tensions. According to Saudi…

On January 24th 2024 Pantheon Resources PLC held a post-AGM investor presentation, providing insights into their ongoing projects and future plans. Here's a breakdown of some key highlights from the discussion points

US natural gas prices are at their lowest in nearly three decades as the country prepares for its warmest winter ever, which will reduce demand while production reaches record levels. Analysts said that this winter, the months when gas…

Shell forecasts that the global demand for liquefied gas will increase by over 50% by 2040, as people switch to cleaner energy sources. The oil major's latest energy outlook suggests that global demand will peak in 2040, with the growth…

Diamondback Energy has a deal in place to purchase Endeavor Energy Resources, a private oil producer in America, for about $25bn. This is according to sources familiar with the situation. ConocoPhilips lost out in this race to acquire one…

Discover the investment potential of Pantheon Resources as driven by their expansive Alaska North Slope oil projects. Proactive’s research analyst Manos Halicioglu provides an in-depth insight and a valuation perspective on this burgeoning…

The head of BP predicted that the AI revolution would trigger a global demand surge for fossil fuels. BP said it will ramp up its gas production over the next few years. Murray Auchincloss said that demand for energy, including renewable…

BP reported fourth-quarter profit ahead of expectations despite the fact that oil and gas prices have fallen from their highs at the start of the Ukraine war. The FTSE 100 Oil and Gas group reported profits in the final quarter of last…

Shell announced plans to buyback another $3.5 billion in its shares, after its fourth-quarter profit exceeded expectations. This was helped by an "exceptional performance" by its gas trading division. The company's profits dropped from…

In the most recent round of exploration licenses, Korean, Malaysian and Norwegian companies were granted permission to drill in the North Sea for oil and natural gas. The North Sea Transition Authority (NSTA), which is responsible for…

Oil giant accused of leaving shareholders £40bn worse off with unrealistic strategy After an activist investor claimed that they had left shareholders £40bn worse off, BP faces new demands to scrap the "irrational", net zero commitments…

It has been revealed that Britain's vast gas network still relies on a fleet aging aircraft engines. Some of these engines were removed from RAF Lightning fighter planes built in the 1960s. Jon Butterworth is the chief executive at…

This week, the American oil lobby launched a media campaign with a budget of eight figures to promote the idea that fossil-fuels are "vital", for global energy security. Climate experts were alarmed by this. The website of the new…

The price of oil has risen dramatically after Iran refused to stop supporting attacks by Houthi Rebels on vessels in Red Sea, and sent one warship along the main trading route. Brent crude climbed $1.73 or more than 2.4% to $78.77 per…