‘Concessions to the gas lobby’: Renewable energy sector blasts government’s gas power play March 12, 2024 The UK's renewable energy sector has slammed the government’s new commitment to develop gas-fired power stations to act as a back up to support green energy projects.
Nord Stream launches lawsuit against Lloyd’s of London insurers over pipeline sabotage March 12, 2024 Nord Stream AG, a consortium headquartered in Switzerland, is majority owned by the Russian state-owned gas company Gazprom.
Energy secretary decries Labour’s ambition to de-carbonise the UK electricity grid as ‘pure politics’ March 12, 2024 Speaking at international affairs think-tank Chatham House, Coutinho denied accusations from journalists and the audience that energy policy was being used as a political football and insisted the conservative road map was based on facts.
Thames Water not included in £180m sewage cleanup plan. It has an £8bn bill instead March 11, 2024 It is understood the environment agency is disappointed that Thames Water did not make a fresh funding commitment, and was unable to accelerate investment.
Saudi Aramco looks to China as annual profit dives (to, err, £94bn) March 10, 2024 Saudi Aramco Chief Executive Amin Nasser said on Sunday the oil giant was looking at further opportunities to invest in China, where he said oil demand was robust and growing. State-owned Aramco has been ramping up its China presence in a string of deals in refining and petrochemicals, some of them with crude offtake agreements attached. “So far we [...]
BP claws more money back from former boss Looney and pays new chief £8m after 2023 profit beat March 8, 2024 BP CEO Murray Auchincloss said the firm will be "super focused" on returns
Pennon mega-deal for Sutton and East Surrey Water facing competition probe March 7, 2024 Pennon paid £89m in equity but the total enterprise deal was worth £380m
Harbour Energy records drop in revenue and production as windfall tax weighs March 7, 2024 Harbour's chief executive said the tax all but "wiped out" the firm's profits in 2022
Government’s £800m offshore wind auction budget not enough, analysts warn March 6, 2024 Despite a budget increase, the UK's next round of auctions for offshore wind looks set to disappoint on power generation returns.
Spring Budget 2024: Hunt extends windfall tax on oil and gas industry March 6, 2024 Hunt said that the energy price increases are likely to last longer and so too will the sector's windfall profits