Shell Q2 profits slide (to just the $5.1bn) as firm announces share buyback scheme July 27, 2023 Shell has announced a hefty new share buyback programme and raised its quarterly dividends, despite a downturn in profits.
Energy sector shows early support for Ofgem’s new financing rules July 27, 2023 The energy industry has shown initial signs of supporting Ofgem's announced capital adequacy reforms, following the collapse of 30 suppliers.
Ofgem moves to shore up energy sector risk consolidating big firms’ market power July 26, 2023 Suppliers are facing tightening financial rules from regulator Ofgem, which is desperate to avoid a repeat of the domestic energy crisis.
Uniper upgrades outlook and considers state aid repayments after bailout July 26, 2023 Bailed-out Uniper expects billions of euros in profits in 2023 as a result of more favourable than expected gas price developments.
Rio Tinto profits sink as iron ore prices ease and China’s economy stutters July 26, 2023 Rio Tinto has reported its lowest first-half year profits since the pandemic, with earnings tumbling amid easing iron ore prices.
Equinor unveils steep drop in profits as fossil fuel prices fall July 26, 2023 Equinor's profits have tumbled in line with falling oil and gas prices, signalling an expected industry-wide decline in earnings.
Ofgem toughens finance requirements for suppliers in latest market clampdown July 26, 2023 Ofgem has announced toughened capital requirements for suppliers, as it looks to ensure firms are resilient to future market shocks.
Floating offshore wind ripe for subsidies, Octopus’ renewable boss argues July 26, 2023 The government should target subsidies at emerging technologies where the UK can be a world leader, such as floating offshore wind.
AMTE Power secures fresh £1m loan from investors as it scrambles to avoid administration July 25, 2023 AMTE Power has announced a fresh loan facility from a US asset manager, an eleventh hour lifeline as it scrambles to secure its future.
London Metal Exchange names new chief executive for clearing house as court verdict looms July 25, 2023 The London Metal Exchange has made fresh changes to its senior team, announcing a new chief executive for its clearing house.