Government gives the green light to new North Sea oil and gas field February 1, 2022 A new oil and gas development in the North Sea was approved by the government yesterday, despite environmental concerns.
Experts about record $90: Shareholders may face ‘catastrophic levels of value destruction’ if oil price drops January 27, 2022 Based on current surging prices oil giants should think twice about investing in new oil projects or they could risk wasting billions, a new report has warned. The price of Brent crude oil has increased by nearly 40 dollars (£29) per barrel in the last year, and hit 90 dollars (£66) yesterday for the first [...]
Exclusive: ‘Keep a cool head in hairy markets but avoid being an ostrich’, says City grandee and fund chief Andrew Bell January 20, 2022 Witan Investment Trust is a well-know name in the City’s investment space. It can trace its history back to 1909 when it was set up to manage the investment affairs of Sir Alexander Henderson, who later became the first Lord Faringdon. Today it holds over £2.2bn on behalf of more than 28,000 shareholders, using a [...]
UK businesses pay more than EU firms for emission trading post Brexit January 9, 2022 UK businesses are paying 10 per cent more than their EU counterparts to trade their emissions following Brexit. As a result of the government’s refusal to link the UK carbon market to the EU’s, British firms pay more than £75 per tonne of CO2, while EU businesses pay up to €85 (£71), the Guardian reported. [...]
Equinor offers stake in North Sea oil field for $1bn December 14, 2021 Equinor is looking to offload a 19 per cent stake in the Martin Linge oilfield based in the North Sea, with the aim of raising $1bn in funds.
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 [...]
Shell moves to UK and ditches ‘Royal Dutch’ name amid lengthy tax dispute and activist pressure November 15, 2021 Royal Dutch Shell is moving its headquarters, top executives, and crucially, its tax residence from The Hague to the UK. The move prompted the Dutch government to overhaul a controversial dividend tax which the energy giant had cited as a reason to unify its share structure and shift bases, according to the Financial Times. Shell [...]
Exclusive: En+ chairman and former minister Lord Barker warns ‘don’t expect a big bang’ from COP26 November 14, 2021 Many eyes were on Lord Gregory Barker of Battle earlier this week, as ‘his’ global energy giant En+ was at the heart of COP26’s complex ecosystem of executives, government reps, lobbyists, NGOs and activists in Glasgow. Lord Barker was appointed independent chairman of the En+ Group board of directors in October 2017, just before the company’s [...]
UK government approaches Qatar for ‘last resort’ gas deal November 6, 2021 The UK government has approached Qatar for a long-term gas deal to shore up supplies amid soaring wholesale energy prices and growing fears of a winter fuel crisis, according to The Financial Times. British ministers have been holding talks with the world’s largest producer of liquefied natural gas to reach an arrangement where Qatar would [...]
Authorities investigating proposed £725m Esso oil field sale October 26, 2021 THE OIL and Gas Authority (OGA) has launched an investigation into a £725 million oil field deal in the North Sea. The organisation is probing Esso’s plans to sell 13 producing oil fields, including Elgin Franklin, to NEO Energy. It fears negotiations are progressing too slowly, and could have a “chilling effect” on the market [...]