Shore Capital bucks the trend as banks retrench from oil and gas
A UK investment bank says it is committed to expanding its oil and gas franchise amid widespread retrenchment from the sector.
Rosebank axing would cost jobs and money, court hears
A landmark hearing concluded Friday that will decide the future of Rosebank, the UK’s largest undeveloped oil field.
Energy projects in developing countries to receive £79m in UK climate finance
Projects that aim to speed up the energy transition in developing countries will receive a share of £79 million in UK climate finance, the Government has announced.
World leaders at COP29 agree ‘international carbon market standards’
Commitments at this year’s UN climate talks are ramping up fast, though the conference in oil-producing Azerbaijan has been mired in controversy.
Courts to decide if petrol emissions are death knell for UK’s largest oil field
A hearing in the Scottish courts this week will decide if planning consent for the UK’s largest undeveloped oil field, and a mature gas basin in the North Sea, will be blocked due to emissions produced by end-use petrol and gas customers.
Dutch court overturns order for Shell to take responsibility for petrol emissions
A Dutch court has overturned a landmark ruling against Shell that would have forced the oil company to reduce emissions produced by its petrol customers.
Energy transition akin to Industrial Revolution – Centrica speaks out on scale of challenge
The energy transition requires the sector to grapple with the Fifth Industrial Revolution.
Union demands nationalisation of National Grid as profits rise
National Grid (LON:NG) reaped a 14% hike in underlying profit in the first half of 2024, prompting calls from the UK’s major union Unite for it to be nationalised.
Tories to vote against windfall tax changes
Conservative ministers are expected to vote against changes to the energy profits levy (EPL) today, a tax first introduced by the Tory party, a spokesman has said.
Operators could face fines as North Sea decommissioning still lags
The pace of North Sea oil and gas decommissioning continues to lag behind targets, with operators who fail to comply being liable to face fines of up to £1 million.
Centrica boss Chris O’Shea says government must avoid ‘perverse incentives’
Centrica's chief executive Chris O’Shea has warned that the UK government must avoid “perverse incentives” that encourage grid operators to leave power capacity unused.
National grid operator says clean power mission is ‘achievable’
The National Energy System Operator (NESO) has today concluded that the UK government’s mission to decarbonise the electricity grid by 2030 is “achievable”.
Kwarteng questions if windfall tax will end
Former Chancellor Kwasi Kwarteng has raised doubts following Wednesday’s Autumn Budget as to whether the windfall tax on oil and gas profits will ever end.
Energy transition requires extra $1.75tn a year – report
Global investment in the energy transition must double to $3.5 trillion a year to keep global warming below catastrophic levels, according to a new report by analytics and consultancy firm Wood Mackenzie.
Rockefeller targets “equitable, just and pervasive” energy transition
The president of The Rockefeller Foundation, a multi-billion-dollar philanthropic investment house that began life investing the oil profits of John D. Rockefeller, has said the firm’s priority is an “equitable” energy transition.
Analysts warn of £4.9bn shortfall in Chancellor’s green plan
Analysts have warned of a potential £5 billion funding hole in Chancellor Rachel Reeves’ proposals to finance the green prosperity plan.
Exclusive: 17 Energy expects to take £4bn floating offshore wind farm ‘to market’ in 2028
UK-based developer 17 Energy Ltd. expects to bring its proposed 1 GW floating offshore wind farm off the Chilean coast 'to market' in 2028, co-founder Úna Brosnan told Energy Voice.
Carbon capture and storage will ‘grow’ the economy – Hunt
The UK is open to private sector investment in the still nascent carbon, capture and storage (CCS) industry, minister for energy security and net zero Philip Hunt told investors this week.
BP profit warning a bellwether for change
BP PLC has warned that it expects profit margins to slump this quarter due to a fall in oil trading and is instead relying on an unlikely source of growth, electric vehicles, to steady the ship this year.
UK National Wealth Fund to ‘turbocharge’ green technology
The new National Wealth Fund will boost UK investment in green technology, according to business and trade secretary Jonathan Reynolds.
PM vows to replicate success of East Anglia Two offshore wind farm
Ministers said while speaking at the International Investment Summit today that the new government will turbocharge investment in green energy technologies and rip up red tape.
How can energy help achieve ‘national security’?
Energy secretary Ed Miliband told industry at the EnergyUK conference in September that reaching net zero, which the government wants to achieve by 2030, will be a matter of “national security”.
Starmer hails billions of pounds of investment pledges ahead of summit
Prime Minister Keir Starmer said on Thursday that the government has secured more than £24 billion of private investment in domestic clean energy projects ahead of next week’s investment summit.
UK unveils ‘cap-and-floor’ scheme to bolster energy storage
The UK government has today launched a new scheme designed to leverage investment in long-term energy storage capacity, which will operate as a ‘cap-and-floor' mechanism.
Energy unions, climate groups urge Treasury to ring-fence £1.9bn for ‘just transition’
Energy unions and climate groups have joined forces to urge Chancellor Rachel Reeves to invest £1.9 billion a year in the energy transition.