EnQuest has been penalised with a £16.5 million fine due to its inability to decommission 33 defunct wells located in the North Sea. This action comes despite the company’s justification
Oil Producer
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The recent escalation in the Iran conflict has triggered significant turbulence in the oil market, capturing the attention of retail investors eager for profit opportunities. The oil price, typically characterised
Ed Miliband’s recent decision to halt operations in the North Sea is projected to result in a staggering £10 billion in lost tax revenue for the government by the year
The Saudi Arabian state-owned oil company, Saudi Aramco, has announced plans to restore over 70 per cent of its oil shipments within days. Chief Executive Amin Nasser has indicated that
RBC Capital Markets has downgraded Shell to Sector Perform from Outperform, expressing significant concerns regarding the energy major’s resource depth following what the bank characterised as an unusual double miss
Donald Trump has once again taken the reins of the White House, advocating for an aggressive approach to oil production. His rallying cry of “drill baby drill” highlights his commitment
Britain has reportedly become as unappealing for investment as Venezuela due to Labour’s stringent net zero policies impacting the oil industry. A senior figure from the North Sea oil sector
Global commodity markets surged on Monday following the weekend capture of Venezuela’s president, Nicolás Maduro, as investors reassessed supply risks against potential medium-term production gains. The reaction across oil, precious
Shell stands to secure billions of dollars in revenue from Venezuelan gas projects following the political transition that saw Donald Trump facilitate the departure of Nicolás Maduro. The British supermajor
Turkey is set to commence its inaugural deepwater drilling operation off the coast of Somalia next month, marking a significant milestone in Ankara’s overseas energy exploration strategy. Energy Minister Alparslan
The price of Brent crude has fallen below sixty dollars a barrel for the first time since May, as markets respond to potential progress in talks to end the conflict
Plans for the Sea Lion oil field, located 137 miles north of the Falkland Islands, have reached a significant milestone as Rockhopper Exploration and its operating partner Navitas Petroleum commit
Donald Trump stormed back into the White House pledging to “drill baby drill” and promising to unleash a new era of American energy dominance. Yet, contrary to his campaign slogans,
Motorists across the United Kingdom are set to benefit from lower fuel costs in the coming year, as the price of oil is projected to fall to its lowest level
Serica Energy has taken strategic advantage of the downfall of Prax Group, securing a deal to acquire the company’s North Sea assets in a move expected to bolster its standing
Major commodity trading group Glencore was kept in the dark about critical financial difficulties at the Prax Lindsey oil refinery until mere days before its collapse into administration, despite government
