Angola breaks with OPEC quota decision
Angola Minister of Mineral Resources, Oil and Gas Diamantino Pedro Azevedo said the decision on cuts had not been unanimous.
Investec
Investec predicts gas price drop due to European gas storage
European gas storage is filling up quicker than demand allows with reserves set to reach maximum capacity by September, says Investec head of commodities Callum Macpherson.
Top oil and gas analyst joins North Sea firm Capricorn
North Sea firm Capricorn Energy (LON: CNE) has bolstered its ranks with the appointment of a new commercial director.
Energy experts look to next winter as gas crisis is set to continue in 2023
Expert eyes are starting to turn to Christmas 2023, as Europe has kept the lights on through this festive period despite an energy crisis that has gripped the continent for more than a year.
A windfall of unintended consequences
What are ‘historically more normal prices’? Through 2022 the Brent oil price averaged about $100 a barrel (bbl), up around 40% on 2021. This follows a volatile 12 months where prices started the year at $78/bbl, reaching a peak of $130/bbl in March following Russia’s invasion of Ukraine.
‘No more tax changes after this’: Industry execs with key asks on Autumn Budget windfall tax
With an expected surge in the windfall tax in today's Autumn Budget, North Sea industry executives have set out their key asks for chancellor Jeremy Hunt.
With the Autumn Budget due, a North Sea windfall tax expansion looms
There was once a time when grandiose economic statements were something of a collector’s item.
New PM urged to take action with gas prices tipped to surge following Nord Stream closure
A leading analyst says there are indications that high gas prices are likely to be a “multi-year” challenge, rather than a “spike”.
Tesco boss says oil giants would be unfazed by windfall tax, industry expert warns it could create a precedent
The chairman of supermarket chain Tesco has added his name to the list of those calling for a windfall tax on the profits of oil and gas companies.
‘Uptick’ in North Sea IPOs forecast with high oil and gas prices on course to continue
North Sea initial public offerings (IPOs) could be back on the menu with healthy oil and gas prices tipped to continue for much of 2022.
South African banks opt out of EACOP financing
Four of South Africa’s five major banks have said they will not support the East African Crude Oil Pipeline (EACOP), in Uganda and Tanzania.
Ofgem seen asleep at the wheel in energy supplier crisis
Pressure is growing on the UK energy regulator to account for its role in allowing a landslide of energy suppliers to go out of business, at a cost to consumers.
UK oil industry moves to address ‘gap’ in climate reporting
The UK oil and gas sector has announced a move to address a “gap” in investor expectations for climate-related reporting.
Brent at $60 post-Covid high: ‘Still a lot of ifs and buts’ for North Sea activity
The Brent oil price has reached its highest in 13 months, but experts say questions persist on whether activity in the UK North Sea will see a similar resurgence.
Oil and gas leopards changing their spots to focus on investor returns
More oil and gas firms are “pivoting” their business models towards shareholder returns and away from high risk and reward exploration, an analyst has said.
‘The valuations for E&P companies on the stock market are not very attractive’ – could we see more North Sea reverse takeovers?
The reverse takeover model could become more of a permanent fixture in the North Sea in the coming years as more private-equity (PE) backed operators look to go public.
CPTDC wins compressor work from Orca
China Petroleum and Technology Development Co. (CPTDC) has won work to provide natural gas compressors to Orca Energy in southern Tanzania.
Numis drops oil and gas clients as work dries up
Numis Securities has opted to cut its natural resources division, driving a number of companies to seek new brokers.
Oil demand has lost its wings, but what next?
At a point when the world’s economic system is creaking and the oil market is suffering from its own supplementary crisis, it can be hard to imagine what may come next.
Saudi, Russia rift widens
US President Donald Trump’s call for a 10 million barrel per day – or even 15mn bpd – cut drove up oil prices last week but weak demand continues to run the show, with little respite expected from talks due to take place this week.
Supply booms, demand languishes: all are punished
Oil price falls below $40 per barrel spell problems throughout the industry, with companies and countries alike facing tough times.
Is your business Brexit ready?
As Brexit looms near, the Energy Industries Council (EIC), will be holding a series of free regional events and webinars to prepare members and the public how to get their business ready for Brexit.
Need for growth could be ‘catalyst’ for North Sea deals
The need for newer North Sea players to grow could be a “catalyst” for more M&A deals this year, according to an investment banker.
Inflation set to ‘hold steady’ thanks to energy price cap
Inflation is expected to have held steady below the Bank of England's target in February, thanks to the cap on energy prices.
Brent may return to $70 following OPEC deal, says analyst
Opec and its allies have agreed to cut global oil production by 1.2million barrels per day in a bid to end the recent oil price fall.