Oil hits three year high before falling back October 21, 2021 Brent Crude oil hit a three-year high at $86.10 a barrel on Wednesday night, before falling to $83.51 the following day. The price has risen over 60 per cent this year, supported by a slow ramp-up in supply and a global coal and gas shortage which has driven a switch to oil for power generation. [...]
Petrol prices 2p away from record high October 16, 2021 The pump price for a litre of petrol sold at UK forecourts has reached 140.22p, the highest since September 2012. Data from the RAC Fuel Watch showed that fuel prices – which have gone up 26p a litre in the last year – are two pence away from the record high of 140.24p per litre [...]
Oil prices continue to rise amid energy crisis October 11, 2021 Oil prices passed $84 a barrel last night as Brent Crude’s rally entered a new week. This is oil’s highest valuation on the UK-based index since March last year. The resurgence in oil prices has been boosted by a global shortage of gas and spiralling energy costs. It has resulted in oil stocks gaining 37 [...]
Fuel crisis: Petrol heading towards all-time high of 2012 as drivers face record prices October 6, 2021 Petrol is fast catching up with the all-time high of April 2012, having shot up by an additional £12 for a full tank in last one year. On top of the supply crisis, a barreling crude oil price has pushed price of unleaded by 1.5p in the month of September, just 6p short of 2012 [...]
UCL professor resigns from Science Museum board over oil and gas cash October 4, 2021 Professor of Climate Science Chris Rapley CBE resigned this weekend from the Science Museum’s Advisory Board over the issue of fossil fuel sponsorship and the museum’s willingness to accept money from major oil and gas companies, including Shell. Rapley, who is currently Professor of Climate Science at UCL, has long-standing ties with the Science Museum, [...]
City corruption: Company of Tory donor Ayman Asfari paid tens of millions in bribes across Middle East October 3, 2021 A company whose biggest shareholder is a major Tory donor did not stop its employees from paying out more than £32m in bribes in order to secure a range of contracts across the Middle East. Petrofac, one of the world’s largest service providers to oil and gas producers, won business worth £2.7bn in Iraq, Saudi [...]
Petrol bosses warn fuel shortage is ‘getting worse’ in London and south-east October 2, 2021 Fuel shortages are getting worse rather than improving, especially in London and the south-east of England, the chairman of the Petrol Retailers Association (PRA) has warned. Brian Madderson said it remains a “really big problem” in this part of the UK, and told the BBC’s Today programme: “In London and the South East and possibly [...]
Oil price surges above $80 a barrel for first time since 2018 September 28, 2021 Oil prices have surged above $80 a barrel for the first time in three years, as markets braced for even tighter supplies due to resurgent demand that showed no signs of stopping in some locations. Brent crude, the global benchmark, rose as much as 0.8 per cent to touch $80.19 a barrel during Asia trading [...]
Government denies there is shortage of fuel amid BP and Esso closing gas stations September 24, 2021 The government is urging Brits “buy fuel as normal”, after the ongoing lorry driver shortage issue reached gas stations yesterday. BP said a number of its filling stations are closed due to a lack of fuel available, while Esso owner ExxonMobil also said a “small number” of its Tesco Alliance petrol forecourts have been impacted. [...]
Drill, baby, drill: Arctic set for £230bn oil and gas bonanza with JPMorgan, Barclays and Citi piling in September 23, 2021 Oil and gas companies are set to ramp up production in the Arctic by 20 per cent in the next five years, according to a new report shared with Morning Wire this morning. The main Arctic expansionists – Gazprom, Total and ConocoPhillips – are backed by hundreds of billions of pounds from dozens of City [...]