The Labour government is under mounting pressure as it considers approving limited expansions of existing North Sea oil and gas fields. While Labour’s manifesto has pledged a ban on new
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Ed Miliband, the UK energy secretary, is prepared to advance new measures aimed at encouraging oil and gas drilling in the North Sea, despite Labour’s firm manifesto commitment not to
Amid growing warnings from industry leaders and union chiefs, Labour is poised to soften its landmark policy on new North Sea oil and gas exploration. Energy Secretary Ed Miliband, who
Analysts at Wood Mackenzie, a world leader in energy data, have revealed that Britain’s North Sea could hold up to three times more recoverable oil and gas than currently estimated
The UK government’s decision to maintain windfall taxes and impose drilling restrictions in the North Sea could cost the Treasury £10bn in lost tax revenue by 2030, analysts have warned.
Kemi Badenoch’s latest announcement to overturn existing policies on North Sea oil and gas was met with instant criticism from environmental groups. Recently installed as Conservative leader, Badenoch has proposed
Ithaca Energy, the leading North Sea oil and gas operator, has lifted its production forecasts for the second time this year while confirming it remains on course to return $500
BP is set to restart production at the Murlach oil and gas field in the North Sea, reversing a trend of declining output and industry retreat. The decision follows significant
BP is rolling out a fresh wave of cost-cutting measures, despite outperforming analyst profit forecasts, as it seeks to boost returns for shareholders and quell activist investor demands. The FTSE
BP has delivered its most significant oil and gas discovery in a quarter of a century, striking a potentially multibillion-barrel reserve off Brazil’s coast. The FTSE 100-listed energy giant confirmed
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.
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
