Ineos chief Sir Jim Ratcliffe urges Kwasi Kwarteng to approve fracking test site April 11, 2022 Billionaire industrialist Sir Jim Ratcliffe has asked Business Secretary Kwasi Kwarteng for permission to drill a shale test site.
Fracking companies threaten government with legal action over ban December 12, 2021 Fracking companies have threatened to take legal action over the government’s ban on the practice, amid the sector’s growing frustration at being left behind the UK energy revolution, according to reports. The sector sent “pre-action correspondence” to the government after fears prompted by earthquakes in 2019 led to a ban on drilling, according to the Telegraph, which [...]
Oil and gas decommissioning costs to hit nearly £17bn with 1.2m tonnes from North Sea to be removed November 23, 2021 With 1.2 million tonnes of disused oil and gas installations from the North Sea expected to be removed for reuse and recycling, UK oil and gas firms are being forecast to spend some £16.6bn on decommissioning work over the next decade. Industry body Oil and Gas UK (OGUK) said work in this area would be [...]
Gas firms pushed UK minister to burn more gas in transition to clean energy July 7, 2021 Fossil fuel giants lobbied a UK government minister to use more natural gas in the transition to lower carbon energy production. As reported by Channel 4, a memo released under the Freedom of Information Act details how firms pushed the then-trade minister Connor Burns to accept a “greater recognition” of gas. The document, obtained by [...]
Riverstone sells stake in UK’s only fracker Cuadrilla February 6, 2020 Riverstone has sold its 45 per cent stake in Cuadrilla to mining firm AJ Lucas, meaning that the Australian company now owns 93 per cent of the UK’s only fracking firm. The sale of Riverstone’s stake comes as no surprise, as the investment group has long been looking to exit the business after a series [...]
Pump priming: How the shale gas revolution has transformed the US energy industry November 26, 2019 At KD’s Bar-B-Q in Midland, Texas, one can see first hand that the energy boom is still alive and well. Oil service workers, property developers, and financiers stand in a line that snakes out onto the street to order its fabled tri-tip steaks and ribs. In less than a decade, a boom in the country’s [...]
No end in sight for US shale boom November 13, 2019 The US shale boom is set to continue, according to the International Energy Agency’s (IEA) World Energy Outlook 2019, with output set to stay higher for longer than previously predicted. Although the rate of production will slip from the rapid expansion of recent years, the report predicts that the US will account for 85 per [...]
Fracking firms see shares crash after government calls halt November 4, 2019 Shares in the UK’s fracking companies plummeted this morning, after the government announced a moratorium on the controversial extractive technique over the weekend. Shares in Australian firm AJ Lucas, which owns a 47.4 per cent stake in leading exploratory company Cuadrilla, fell 24 per cent. Read more: Government bans fracking “with immediate effect” London-listed IGas, [...]
Jeremy Corbyn brands the government’s fracking ban as an ‘election stunt’ November 2, 2019 Jeremy Corbyn has labelled the halt to fracking as “an election stunt” by the government. The suspension came following scientific research raised fresh concerns that the risk of earthquakes was linked to fracking – a controversial method for extracting shale gas. Read more: Government bans fracking with immediate effect Corbyn has called the U-turn by [...]
Government bans fracking “with immediate effect” November 2, 2019 The government announced it has ended its support for fracking in the UK, following the publication of new scientific analysis. Ministers took the decision on the basis of a report by the Oil and Gas Authority (OGA), which found that it is impossible to accurately predict the probability or magnitude of earthquakes linked to fracking [...]