Wood signs trio of new agreements with old customer BP
Energy services firm Wood (LON:WG) confirmed is has won three new contracts with BP (LON:BP), extending a decades-long relationship between the two firms.
Markets
Bank giant ING optimistic about investment ‘greeniums’ next year
Sustainable finance could deliver a premium as banks retrench from fossil fuels: ING expects greater clarity on energy transition finance next year.
‘Anger’ over Scottish budget plan to raid ScotWind windfall
Scotland's finance minister has been warned against raiding a windfall gained through sale of renewables licenses and has been urged to reinvest it in the energy transition.
Aberdeen’s OEG seeking up to £100m in acquisitions a year
Aberdeen's OEG Energy Group has bought up 14 businesses in the last four years and boss John Heiton aims to maintain the pace.
Clean power mission 2030 will take a ‘Herculean’ effort from supply chain
The UK government’s 2030 clean power targets will take a “Herculean” effort from the supply chain, according to Yselkla Farmer, chief executive of energy infrastructure trade association Beama.
Venterra secures £30m bond facility for international growth
Offshore wind services business Venterra Group has secured a £30 million bond facility from HSBC, backed by the UK government’s export credit agency UK Export Finance (UKEF).
COPping out – parsimony wins the day in Baku
COP29 was principally about adaptation finance, but it delivered little in the way of hard cash and even less in terms of the international solidarity required to address climate change.
Exclusive: Power Roll fundraising for 1 GW solar film factory in County Durham
The solar film developer is raising £30 million in funding to “revolutionise” the global solar industry through lightweight roll-to-roll technology that is not reliant on rare earth minerals.
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.
Serica relief as North Sea tax regime offers ‘opportunities’
Independent North Sea producer Serica Energy (AIM: SQZ) welcomed changes made to the UK's offshore oil and gas tax regime in its most recent update.
Parkmead confirms ‘discussions’ over sale of North Sea assets
Parkmead Group (AIM:PMG) boss Tom Cross confirmed he is "in discussions" over the sale of the firm's North Sea assets as the energy group turns its focus to renewables and international markets.
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.
Ithaca hands $200m to shareholders following ‘combination’ with Eni
The North Sea firm also confirmed controversy-hit Rosebank field was on track for first oil in 2026/27
Battery storage fund Gresham House welcomes ‘scarcity pricing’ boost
Higher electricity prices is good news for Gresham which said volatility was "encouraging".
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.
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.
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.