Battery storage fund Gresham House welcomes ‘scarcity pricing’ boost
Higher electricity prices is good news for Gresham which said volatility was "encouraging".
Markets
Subsea firm Tekmar wins £1.5m contracts in Middle East
North East England-based Tekmar Group (AIM: TGP) has announced it has won contracts worth over £1.5 million with customers in the Middle East.
Petrofac extends loan payment ‘forbearance’ once again
Beleaguered oil field services group Petrofac (LON:PFC) has struck a deal to delay payment to lenders another month as the debt-burdened firm continues its restructuring plan.
Deltic shares surge on ‘highly encouraging’ Shell backing for Selene well
Shell (LON:SHEL) has given the green light to the next stage of a gas discovery in the Southern North Sea, delivering a shares boost for its partner Deltic Energy (AIM:DELT).
Aberdeen firm Plexus wins $1 million order in the Middle East
Plexus Holdings PLC (AIM:POS) has won a deal to supply its wellhead equipment to an an offshore gas exploration project in the Middle East.
Wood shares collapse as it orders investigation into contract write-offs
Wood (LON:WG) has announced a shock review of its books following write-offs of large scale contracts prompting another share price collapse for the beleaguered energy services group.
November a ‘bumpy ride’ for anxious oil markets
Rystad Energy predicts "a big week for oil markets" with the US elections on the horizon.
France’s TotalEnergies unveils $4.1 billion profit in quarter
French energy giant TotalEnergies (PARIS:TTE) hailed "robust" results for the third quarter of the year despite a decline in margins.
Shell reveals another shareholder boon on $6 billion quarterly profit
Shell (LON:SHEL) unveiled a better-than expected $6 billion (£4.6bn) profit and another investor-pleasing buyback on the back of an increase in gas production.
Wood wins million hours job in Saudi Arabia
Aberdeen's Wood (LON:WG) has won a contract with Saudi Arabia's giant Aramco (SA:2222) to help the Gulf state increase natural gas production.
BP reveals profits slump to $2.3 billion in quarter
Energy giant BP (LON:BP) revealed profits have slumped 18% to $2.3 billion (£1.8bn) in its most recent quarter as it confirms a reduction in margins in its refining business and weak oil trading.
Vallourec to shut Aberdeen workshop due to ‘challenging North Sea market conditions’
The closure means the loss of 23 jobs, but the firm said "most of the employees affected have already found" a new role.
Ashtead Technology to buy Seatronics and J2 Subsea
Subsea services provider Ashtead Technology (AIM: AT.) has signed an agreement to acquire Seascan Ltd from Acteon Group for £63 million.
Equinor makes $6.9b in third quarter
Equinor (OSE:EQNR) brought in an adjusted operating income of $6.89 billion and $2.04b after tax in the third quarter of 2024.
D2Zero buys up Aberdeen-based Kelton from administrators of Alderley
Private-equity backed clean energy group D2Zero has bought up flow measurement consultancy Kelton Engineering, adding further decarbonisation expertise to its 4,000-strong workforce.
BP reportedly considers selling stake in offshore wind business
BP (LON:BP) is reportedly considering the sale of a minority stake in its offshore wind business as it looks to reduce the scale of its investment in the sector.
GB Energy chairman aims to create UK Ørsted
GB Energy chairman Juergen Maier has revealed long-term plans for the publicly-owned energy company to follow in the footsteps of Denmark's renewable energy giant, Ørsted.
Woodside to delist from London Stock Exchange
Australian oil and gas firm Woodside (LON: WDS) is set to delist from the London Stock Exchange (LSE) following a review of its "current listing structure".
Should the UK reset its carbon price trajectory?
The EU’s CBAM will negate some of the benefits of a separate UK ETS and increase the complexity of trade. Harmonised systems, in contrast, would create a more effective CBAM-protected bloc and prevent carbon price competition. However, the UK ETS is Brexit’s child, and Brexit was never about cooperative action in the face of climate change...
UK Infrastructure Bank becomes £27.8bn National Wealth Fund
The UK government's £22 billion infrastructure investment vehicle has been rebranded as the National Wealth Fund (NWF), with an extra £6bn thrown in.
Spain’s Iberdrola to double investment to £24 billion in Scottish Power division
Spain's largest power company, Iberdrola (BME: IBE), will invest up to £12 billion in its UK business Scottish Power over the next four years, which is says it a doubling of its commitment in the UK ahead of a global investment summit in London.
Ithaca Energy receives credit rating boost following Eni tie-up
The three major credit rating agencies have upgraded Ithaca Energy’s (LON: ITH) credit rating following the completion of Ithaca’s business combination with Italian energy company Eni earlier this month.
OEUK reports on impact of fiscal policy on economic growth
Offshore Energies UK (OEUK) released data in September modelling the impact of the Government’s announced stronger Energy Profits Levy (EPL) on the UK economy. It’s a plan that adds more pressure on the sector over a longer time.
NSTA guidance aims to speed North Sea deals
The North Sea Transition Authority (NSTA) has published new guidance designed to smooth and accelerate merger and acquisition (M&A) deals between companies operating in the North Sea.
Equinor takes 9.8% stake in Ørsted
Norway’s Equinor (OSE:EQNR) has acquired a 9.8% stake in Danish renewables group Ørsted (XCSE: ORSTED)