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
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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
One of Britain’s last remaining oil refineries has fallen into administration, triggering urgent government intervention and putting approximately 400 jobs at risk. The Prax Lindsey facility, situated on the River
Oil giant Shell has firmly rejected reports suggesting merger discussions with BP, following speculation about a potential £200 billion-plus energy group formation. The company’s spokesperson emphasised that “no talks are
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
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
