Oil and gas markets face unprecedented volatility as Iran threatens to block the Strait of Hormuz, potentially triggering a catastrophic surge in UK household energy bills to £4,500 annually. The
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Oil prices have witnessed a substantial 10 per cent increase over the past week amid growing tensions between Israel and Iran, prompting warnings from the UK’s Chancellor Rachel Reeves about
In a remarkable transformation, Mark Carney, once heralded as the Bank of England’s greenest-ever governor, has executed a striking policy reversal. The former central banker who adamantly advocated leaving 80%
British billionaire Zuber Issa, widely recognised for his pivotal role in acquiring Asda, is reported to be exploring a daring multibillion-pound bid to purchase Castrol Oils. The lubricant business, owned
BP has announced a sharp reduction in its spending plans following a halving of profits for the first quarter of the year. The company’s strategy chief, Giulia Chierchia, has revealed
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,
In a significant development for Scotland’s industrial sector, Labour leader Keir Starmer has unveiled a £200 million funding package aimed at rejuvenating the Grangemouth oil refinery site. The investment, sourced
The activist investment powerhouse Elliott Management has accumulated a substantial £4 billion stake in British energy giant BP, advocating for a significant strategic shift that mirrors rival Shell’s recent transformation.
BP’s newly appointed chief executive Murray Auchincloss has announced plans to “fundamentally reset” the oil giant’s strategy amidst declining profits and mounting pressure from activist investor Elliott Management. The company
Two Russian petroleum tankers faced catastrophic incidents in the Black Sea on Sunday, prompting serious environmental concerns and emergency response efforts. The Volgodonsk 212 carrier, transporting 4,300 tonnes of fuel
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
In a landmark deal announced today, Shell and Norwegian state-owned Equinor have revealed plans to merge their UK oil and gas assets, establishing what is set to become the largest
A groundbreaking UN treaty aimed at curbing global plastic pollution has reached an impasse after major oil-producing nations, spearheaded by Saudi Arabia and Russia, blocked proposals to limit plastic production.
The recent collaboration between BP and Transocean has drawn significant attention in the oil market, highlighting a growing constraint in the supply of deepwater oil rigs. BP’s decision to utilise
Uganda’s contentious £4 billion heated oil pipeline project remains on track for a 2027 operational launch, despite facing significant delays attributed to environmental activism and financing challenges, according to the
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.
