Labour to manage existing North Sea fields ‘for entirety of lifespan’
Ambiguity has been highlighted once again over Labour plans for North Sea energy policy.
North Sea
Labour North Sea licensing ban would have ‘minimal impact’ – Wood Mackenzie
As existing licences will be respected, Wood Mackenzie says a ban on new exploration would be “largely symbolic”.
Hurricane Energy buyer Prax plans North Sea growth surge (exclusive)
Firm seeks to expand production six-fold through North Sea acquisitions
Parkmead takes £33m hit as it gives up on Perth project
Energy firm Parkmead Group (LON: PMG) has given up on a North Sea project containing some 55 million barrels of recoverable oil equivalent (MMBoe).
The latest North Sea licensing round: who’s in the running?
Almost irrelevant of who wins what, the 33rd oil and gas licensing round will be scrutinised more closely than any that have gone before.
Miliband to pledge Labour’s new energy plan will mean affordable power and good jobs
Former Labour leader Ed Miliband is to pledge that the party's clean energy plan will deliver "clean, affordable power and good jobs for Britain".
Starmer continues to soften Labour North Sea stance
"Those who think we should somehow simply end domestic oil and gas production in Britain are wrong."
Apache sale ‘likely’, NSTA not expected to force change of operator
The regulator is not expected to use its ultimate sanctioning powers here - even if licensing rules have been breached.
Exclusive: Apache cuts dozens of Aberdeen jobs as workers slam ‘political decision’
Apache has suspended all North Sea drilling amid a "burdensome tax and regulatory regime", but workers say the firm is still making a "chunk of cash" from the region.
Windfall tax to be dropped if oil and gas prices fall to ‘historically normal levels’
A welcomed move from industry, but projections show the price floor is unlikely to kick in before the tax is due to end in March 2028.
WoodMac: almost £25bn of UK energy investment faces chop if Labour take power
Analysis from consultancy Wood Mackenzie has laid bare the potential impact of Labour’s controversial opposition to new North Sea licensing.
Updated: Prax completes takeover of Hurricane Energy
Prax Group has announced the completion of its takeover of West of Shetland firm Hurricane Energy.
Does the UK need more North Sea licensing? We ask the regulator
The question of whether the UK needs more oil and gas licensing in the North Sea is one which has been on the minds of industry and policymakers.
Norway Well-Slot: Discoveries in the North Sea and Norwegian Sea
As of 30 May, Westwood Global Energy reports that there is one appraisal and three exploration wells active on the NCS.
Ithaca Energy ready to summit K2 exploration target
Ithaca Energy (LON: ITH) is about to begin drilling an exploration well at the K2 prospect in the Central North Sea.
Unite, UK’s largest offshore union, hits out at Labour over North Sea plans
“Grabbing the headlines is easy, developing a serious plan for more renewable energy is not."
‘Perennial issue’ as North Sea explorers over-hype their prospects
There's been numerous cases over the last decade in UK North Sea exploration where company estimates have been way off the mark.
Opinion: Starmer’s North Sea plan is only a threat if we let it be
Starmer's North Sea plan is a threat to the north-east Scotland economy, writes Dick Winchester, but radical action could get us better prepared.
Labour’s North Sea plan poses ‘clear and present danger’ to energy security
Meanwhile, on the BBC’s Good Morning Scotland programme, David Whitehouse, CEO of OEUK, said the plan risks “importing the energy transition”.
Labour leader Keir Starmer vows ‘to block new North Sea oil and gas’
The strategy was branded ‘pie in the sky’ in an immediate backlash from Aberdeen and Grampian Chamber of Commerce.
Who have been the UK North Sea exploration standouts?
New data has highlighted the “standout” firms carrying out exploration in the UK North Sea in recent years.
Aberdeen energy capital status ‘at risk’ amid plunge in North Sea confidence
Aberdeen’s status as a global energy capital is at risk, a key industry report has warned, as confidence in the UK North Sea is now near a “record low”.
Norway facing rig supply deficit as units continue exit from North Sea
Norway is facing up to the challenges of working with a “significantly” smaller drilling fleet as rigs continue their flight from the North Sea.
UK homes facing £6,000 bill for imported gas over next 12 years
The Energy and Climate Change Intelligence Unit (ECIU) said that it would not be possible to avoid this by producing more gas domestically, as the UK's North Sea reserves are dwindling.
Spirit Energy bares ‘exceptional loss’ on sale of Norwegian assets
North Sea operator Spirit Energy has bared an “exceptional loss” relating to the sale of its Norwegian business in 2022.