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.
Shell
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.
BP and Shell to reveal lower profits amid decline in oil refining margin
BP (LON:BP) and Shell (LON:SHEL) are next week expected to post lower third-quarter profits than in 2023 against a backdrop of weak oil prices and faltering demand.
BP reportedly considers selling stake in offshore wind business
BP (LON:BP) is reportedly considering the sale of a minority stake in its offshore wind business as it looks to reduce the scale of its investment in the sector.
Norway’s Northern Lights CCS project completes CO2 storage facilities
The developers of the major Northern Lights carbon capture and storage (CCS) project in Norway have completed the CO2 receiving and storage facilities.
North Sea oil pollution ‘grossly underestimated’, report finds
North Sea oil pollution has been "grossly underestimated" due to an opaque and misleading reporting system and ineffective regulations, a report has found.
Legal challenge to Rosebank and Jackdaw headed for November hearing
A Scottish court has granted approval for legal challenges to the Rosebank and Jackdaw oil and gas fields to proceed to a hearing.
Complications stall Prax’s purchase of Shell’s stake in German refinery
A planned purchase by Prax Group of Shell’s 37.5% stake in the Schwedt refinery in Germany is being delayed by “pending lawsuits by third parties,” according to a report from Reuters.
Tropical Storm Francine disrupts Gulf Coast oil, gas output
ropical Storm Francine forced some oil drillers to halt production and evacuate crews as it barreled through the Gulf of Mexico, and was expected to strengthen to a Category 2 hurricane as it heads toward the coast of Louisiana.
After 50 years of collaboration, IOGP sets its sights on energy transition
In August, the International Association of Oil and Gas Producers (IOGP) celebrated its 50th anniversary since its founding in London.
BP stock trails Shell as investors turn away from green energy
London’s old-school oil stocks are no longer moving in tandem, as BP Plc underperforms Shell Plc due to concerns over the former’s green-energy transition and the outlook for earnings and shareholder payouts.
Shell seeking 20% cut in oil and gas exploration workforce
Shell (LON: SHEL) could cut its oil and gas exploration workforce by 20%, a new Reuters report has warned.
Kazakh claims against Kashagan oil majors rise to $160 billion
Kazakhstan’s arbitration claims against a group of international oil majors that developed the Kashagan field escalated above $160 billion after the country alleged some deals were tainted by corruption, according to people familiar with the matter.
Greenpeace raises over £1m in response to Shell Penguins FPSO lawsuit
Environmental campaign group Greenpeace UK has raised over £1 million from supporters in response to a lawsuit from North Sea operator Shell (LON:SHEL).
Shell hands Wood pre-FEED work on Middle East hydrogen project
Wood (LON: WG) has been awarded pre-front-end engineering and design (pre-FEED) work on Oman's Blue Horizons hydrogen project by the UK supermajor Shell (LON: SHEL).
Kent lands global commissioning framework deal with Shell
Kent employs 13,000 and is a $1.4 billion revenue global business.
Viaro to take full ownership of Shell and Exxon Southern North Sea assets
Independent North Sea operator Viaro Energy will take full ownership of Shell and ExxonMobil assets in the Southern North Sea.
Shell starts drilling at Deltic Energy Selene well
North Sea operator Shell has commenced drilling operations at the Selene prospect, Deltic Energy (AIM:DELT) announced today.
Shell has ‘right to alter ownership structures’ on ScotWind
Reports have surfaced that Shell is looking to sell off its ScotWind leases after spending more than any other firm in the offshore wind leasing round.
Shell aims to sell Scottish wind sites in green energy reversal
Shell (LON: SHEL) plans to sell leases it won to develop floating wind farms off the coast of Scotland, as the oil major continues to roll back a once-ambitious expansion into renewable power.
Deltic Energy to drill first North Sea exploration well in 2024
Shell has mobilised its Valaris 123 drilling unit to drill 2024’s first well at Deltic Energy’s (AIM:DELT) Selene prospect in in licence P2437.
Scottish government grants £2m to Acorn CCS pipeline project
The Scottish government has announced £2 million in funding for the Acorn carbon capture and storage (CCS) project centred on the St Fergus gas terminal.
EVOL: Repsol ponders, Prax strikes and a biofuel pause
The rumour mill has kicked into overdrive amid discussion that Repsol is considering the acquisition of NEO Energy, even while politics has overshadowed the energy sector. While some companies are moving away from the North Sea, others are choosing to stick it out, Ryan explains, on the basis that it can’t get any worse.
Shell hands Wood Aussie FLNG contract
Aberdeen-based engineering firm Wood has secured a contract with Shell for work on the Prelude floating liquified natural gas (FLNG) facility in Western Australia.
Shell sees up to $2 billion writedown after biofuels delay
Shell Plc (LON:SHEL) expects as much as $2 billion of impairments in its second-quarter earnings related to a delayed biofuels plant under construction in the Netherlands and its chemicals facility in Singapore.