Britain’s largest oil producer, Harbour Energy, is preparing to halve its investment in the North Sea amid fierce criticism of Labour’s so called punitive windfall tax. Executives confirmed plans to
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The chief executive of BP has asserted his confidence in delivering a long-awaited turnaround for the energy giant, even if oil prices decline further. After a year marked by a
BP has agreed to divest minority stakes in key onshore oil and gas pipeline assets in the United States to investment firm Sixth Street. The deal, valued at £1.2 billion,
About 2,000 Petrofac employees working in the North Sea are facing an uncertain future after the oil services company, once a FTSE 100 stalwart, filed for administration. Petrofac, which boasts
Fresh warnings have emerged over the future of the North Sea oil and gas sector, as Labour’s approach to exploration licensing has sparked division and concern among politicians, industry bodies,
Petrofac, one of the United Kingdom’s leading offshore oil and gas contractors, faces a critical juncture as it scrambles to secure its financial future. The Aberdeen-based company, employing 2,000 skilled
The North Sea oil and gas sector stands at a crossroads following the publication of the latest North Sea Transition Authority (NSTA) Reserves and Resources Report. The report reveals that
A London listed oil explorer once heralded for its global ambitions faces the threat of default after years of mounting debt. Tullow Oil, once a stalwart of the FTSE 100
Shell is set to take a substantial noncash impairment of $600 million dollars for the third quarter after abandoning the construction of what would have been one of Europe’s largest
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
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
