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
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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
The UK government has revealed a comprehensive set of proposals aimed at reshaping the North Sea’s energy future, prioritising a shift away from oil and gas exploration towards cleaner energy
British energy giant BP has entered into a significant agreement with the Iraqi government to redevelop four substantial oil and gasfields in the northern region of Kirkuk. The landmark deal,
BP, a once-formidable giant of the oil industry, is in the midst of a dramatic downfall as analysts and investors question its strategy and long-term viability. The FTSE 100 company,
Norwegian state-owned oil company Equinor has announced a dramatic reduction in its renewable energy investments, cutting its green spending budget from £8 billion to £4 billion over the next two
European and US shipowners have capitalised on Russia’s need to circumvent Western sanctions, generating a staggering £4.8 billion through the sale of 230 ageing tankers to Moscow’s “shadow fleet”. The
Shell has recommenced production at its Penguins oil field in the North Sea following a four-year pause for infrastructure modernisation. The strategic facility, positioned 150 miles northeast of the Shetland
The price of oil has climbed sharply following America’s implementation of broader sanctions on Russian supplies, reaching its highest level in three months. The Biden administration’s latest sanctions, targeting major
Italian energy behemoth Eni has unveiled the world’s most formidable supercomputer outside the United States, marking a significant leap in the technological race to discover new oil and gas reserves.
The once-celebrated London-listed oil producer Tullow Oil has entered early-stage discussions regarding a potential all-share takeover by American counterpart Kosmos Energy, highlighting significant shifts in the energy sector landscape. Texas-based
Deltic Energy, the AIM-listed oil and gas explorer, received a major boost to its plans for international expansion with a significant new gas discovery in the UK North Sea. Coming on the heels of the UK government's latest budget, which further tightened the fiscal regime for North Sea operators, the discovery highlights both the remaining potential and challenges of Deltic's home market as it looks to leverage its exploration expertise abroad.
Saudi Arabia and its OPEC+ allies have announced an extension of their oil production cuts until the end of December, marking a significant shift from their earlier plans to gradually
The oil prices fell sharply Monday, after Iran did not announce an immediate response to Israel’s attacks on the country. Brent and US West Texas Intermediate crude futures have both
