Union Jack Oil remains bullish on Wressle despite court ruling over emissions
Union Jack Oil plc’s (AIM: UJO) executive chair David Bramhill has said controversially that the “most productive phase” of the Wressle oil field still lies ahead.
Finance
Hydrogen market will be £7bn a year opportunity for the UK
With UK government backing, the market for low-carbon hydrogen may be poised for take-off.
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.
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.
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.
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.
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".
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.
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.
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.
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.
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)
THREE60 Energy sees revenue rise by a quarter in 2023
Aberdeen-headquartered THREE60 Energy saw its revenue increase by 24% to over £184 million in 2023, driven by strong performance across all service lines.
TotalEnergies says UK oil tax will hurt investment, operations
Planned oil and gas tax changes in the UK will prompt TotalEnergies (PAR: TTE) to reduce capital expenditure and restructure operations in the country, the company's chief executive officer Patrick Pouyanne said.
Lucky number seven: 3t to break $100m turnover with Middle East acquisition
UK-based safety training group 3t has made its seventh acquisition by purchasing the Middle East’s largest energy training business, GTSC.
Rachel Reeves ‘difficult circle to square’ with energy finances
On the face of it, there is a paradox. Rachel Reeves has inherited a massive black hole in public spending. Large scale infrastructure projects are being cut, left, right and centre.
Litigation in transition: Energy sector disputes and the role of legal finance
The transition from fossil fuels to renewable energy is fundamental to decarbonising the global economy and mitigating the impacts of climate change. However, this shift also brings a higher risk of disputes across various business activities – disputes that are likely to be many and varied given the magnitude of the infrastructure and technology involved.