Windfall tax on oil and gas profits takes a step closer to becoming law
The Government's windfall tax on the soaring profits of oil and gas companies has taken a step closer to becoming law.
UK Government
UK to set out plans next week on electricity generator windfall tax
The UK plans to announce in the coming days whether it will extend a windfall tax to electricity generators -- a difficult task as the government tries to help consumers struggling with inflation while also supporting renewable energy.
North Sea bosses seek urgent windfall tax meeting with new Chancellor Zahawi
North Sea industry leaders are seeking an urgent meeting with the new Chancellor, Nadhim Zahawi, on the windfall tax.
UK Government plan will not deliver legal net zero targets – Climate Committee
Climate change advisors have warned that UK Government plans for tackling global warming will not deliver on legal targets to cut emissions in the coming decades.
UK Government to relax gas quality rules to boost North Sea supply
Kwasi Kwarteng is looking at relaxing gas quality rules for UK pipelines so North Sea supply can help beat the energy crisis.
BP paid tax to UK on North Sea business for first time in years
BP (LON: BP) paid tax on its UK North Sea business in 2021 for the first time in at least six years, according to the company’s latest payments to governments report.
Final grant agreement reached for £130m Blyth subsea cable facility
JDR Cable Systems has secured financial support for a new “state-of-the-art” subsea cable manufacturing facility in the north-east of England.
Government told to ensure North Sea investment allowances include platform electrification
The UK Government has come under pressure to ensure that platform electrification is included in the North Sea investment relief programme.
Windfall tax tipped to hit Ithaca Energy and Harbour Energy particularly hard
An American credit rating agency has named Ithaca Energy as the operator likely to be hit hardest by the UK Government’s oil and gas windfall tax.
Rough: Britain’s largest gas storage site to reopen ‘within months’
Rough, the UK’s largest gas storage site which controversially closed in 2017, is to “reopen within months” according to a report.
UK North Sea sees chance for political reprieve in energy crisis
Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history.
UK needs ‘another Buzzard’ to balance North Sea decline and reduce imports
A leading analyst says the North Sea “could do with another Buzzard” to offset production decline and plug the import gap.
Neptune Energy to splash out over £800m to support UK energy security
Neptune Energy has announced today it will spend more than $1 billion (£810 million) to help shore up the UK’s energy supplies.
North Sea firms paying £19m daily to UK Gov as windfall tax comments deemed ‘unwise’
North Sea oil and gas firms contributed more than £1.7 billion to the UK Government’s coffers in just 90 days, new figures have revealed.
UK Government launches new public body to oversee energy network
A new public body has been launched to boost the security and resilience of UK energy supplies and support the transition to net zero.
Worley to create 1,000 ‘highly skilled’ jobs in UK to support energy transition
Australian engineering giant Worley (ASX: WOR) has pledged to create hundreds of jobs in the UK as part of an expansion of its operations.
Westminster aiming to ramp up renewables targets in energy security push
The UK Government is poised to drastically ramp up its renewables targets, according to reports.
Spring statement: Key demands facing Rishi Sunak ahead of mini-budget
Chancellor Rishi Sunak will come under pressure to offer more support to working families in financial pain as he makes his spring statement on Wednesday.
‘Cambo has to go ahead’: Industry debates as Shell reconsiders oilfield exit
Industry leaders have been debating as news emerges that Shell is reconsidering its exit of the Cambo oilfield.
New licensing will ‘keep up the momentum’ for North Sea: Energy Minister
New North Sea licensing this year is part of the UK Government’s “ongoing” commitment to the sector, the energy minister has said.
Treasury to encourage banks to fund North Sea oil and gas
The Treasury will meet with lenders today to encourage them to fund North Sea oil and gas.
Shell with new plan to get Jackdaw gas field online in 2025
Shell has unveiled new plans in a bid to get its rejected Jackdaw gas field in the North Sea back on track.
UK Government mulls relaxing North Sea climate checkpoints
The UK government is considering changing incoming rules on climate checkpoints that govern the award of new permits for North Sea oil and gas fields.
Decom decision finally looms on fate of controversial Shell Brent legs
A decision is finally on the way for whether Shell will be allowed to leave the giant platform legs of the Brent field in the North Sea forever.
Taskforce launched to support ‘shipbuilding renaissance’ in UK
A new organisation has been launched today aimed at fostering a “shipbuilding renaissance” across the UK.