Protest at Royal Courts of Justice underscores climate impact of big oil
There were scenes of protest today outside the Royal Courts of Justice on the Strand, as oil and gas licences in the North Sea came up for review.
oil and gas
Shell cuts low-carbon investment amid “discipline” drive, boosts CEO pay
The oil company has halved its low-carbon renewable and energy solutions investment target for 2030 to 10%, while boosting chief executive Wael Sawan's pay in 2025.
The Emperor’s New Clothes: BP and Shell’s duck diplomacy
Oil and gas supermajors are kicking frantically below the water’s surface as they attempt to navigate the energy transition. In the second of a two-part series, we examine how BP and Shell have scaled back their low-carbon commitments.
Stranded energy assets put UK on course for $141bn loss, says study
The energy transition is unlikely to take place without the risk of casualties.
BP is not moving fast enough in the energy transition
An impending ban on petrol cars and an upcoming government review of drilling licences has created a perfect storm for supermajors.
BP carves out offshore wind assets
BP plans to carve out its offshore wind assets as part of a joint venture with Japan’s largest power generation company, as oil supermajors move to insulate themselves from share price shocks associated with their low-carbon investments.
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.
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.
Rosebank axing would cost jobs and money, court hears
A landmark hearing concluded Friday that will decide the future of Rosebank, the UK’s largest undeveloped oil field.
Dutch court overturns order for Shell to take responsibility for petrol emissions
A Dutch court has overturned a landmark ruling against Shell that would have forced the oil company to reduce emissions produced by its petrol customers.
Kwarteng questions if windfall tax will end
Former Chancellor Kwasi Kwarteng has raised doubts following Wednesday’s Autumn Budget as to whether the windfall tax on oil and gas profits will ever end.
Windfall taxes and government policy: destroying Aberdeen and the north-east
There is only one phrase that can possibly be used to describe the Westminster government’s approach to oil and gas – ideological zealotry, bordering on madness.
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.
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.
Realising the great energy dream Norway style
"Make it an epoch – not an episode!"
Supreme Court overturns oil well approval in landmark downstream emissions case
The Supreme Court's decision in the Finch case could have implications for North Sea oil and gas firms including Shell and Equinor.
Democrats send Big Oil investigation to US Justice Department
Democrats are asking the US Department of Justice to investigate major oil companies and their trade groups following a congressional probe that concluded the industry spent decades deceiving the public about climate change.
SNP signals re-think to ban on future oil and gas exploration
Net Zero Secretary Mairi McAllan said the SNP will take a "more nuanced" approach than Labour who want to ban future exploration.
Harbour Energy’s Wintershall Dea takeover ‘on track’ for Q4 completion
Independent North Sea operator Harbour Energy said its planned takeover of German rival Wintershall Dea is "on track" for completion in the fourth quarter of this year.
Have oil and gas firms lost the ability to innovate in a green energy world?
Most of what we do, most of what we own and even where and how we live and work is in one way or another a result of the development of the oil and gas industry.
NSTA reveals winners of latest North Sea licensing round
The third tranche of the 33rd offshore licensing round sees 19 companies awarded North Sea licences
Two thirds of global university energy degrees still focused on fossil fuels
More than two thirds of university energy degrees worldwide remain focused on the fossil fuel industry rather than renewables, according to a new study.
World’s oil and gas firms linked to 40% of CO2 emissions since 2016
A new report has revealed the world's oil and gas firms have contributed to more than 40% of global carbon dioxide (CO2) emissions since the Paris climate agreements.
CCUS throws up decommissioning tax ‘grey area’
Repurposing of North Sea oil and gas assets for Carbon Capture Utilisation and Storage (CCUS) is starting to happen, and it’s throwing up a tax quandary for the sector’s decommissioning space.