BP’s profits soar to $ 8.2bn in third quarter
Oil and gas supermajor BP beat analysts’ predictions for the year’s third quarter, this morning announcing profits of £ 7.1 billion/ $ 8.2 billion,...
Cambo revived, as Ithaca Energy pays £ 1.5 billion for owners Siccar Point
The controversial Cambo oil and gas field 75 kilometres west of the Shetlands re-emerged as a probable extraction operation today, as Ithaca Energy bought...
BP’s £4bn profits spur calls to tighten windfall tax on oilcos
Oil behemoth BP continues to profit from high energy prices, reporting this morning underlying earnings of £4 billion for the quarter to April. The...
Shell bows to court pressure, pledges to halve own emissions by 2030
Royal Dutch Shell today commits itself to halving by 2030 direct carbon emissions from the extraction and refining operations it directly controls.
The announcement, timed...
Blue H2’s pipeline puffs to 16GW across UK and Norway, analysts find
Hydrogen’s "blue" variety scrubbed from oil and gas commands a 90:10 capacity lead over its electrolysed, cleaner “green” variant, in the UK and Norway,...
Germany suspends Nord Stream 2, in reaction to Putin’s Ukraine provocation
Chancellor Olaf Scholz this morning halted Germany’s licencing of the completed Nord Stream 2 gas pipeline in reaction to Russia’s recognition of two rebel...
Electricity to power rigs in 3 N Sea oilfields? Fossil giants ponder how
Another citadel in hydrocarbons’ hegemony over the energy industry appeared to totter this morning, after oil and gas majors BP, Equinor and Ithaca unveiled...
Humber Hub Blue: Lincolnshire H2 plant for Shell and Uniper
Two fossil-legacy energy giants are to co-operate on a blue hydrogen plant at the Killingholme gas power station in Lincolnshire.
Uniper, the hydrocarbons-based generation business...
Shell earns £7.6 billion in 2023’s first quarter
Oil & gas supermajor Shell exceeded market hopes, posting record profits of £7.6 billion for the first three months of the year, it told...
Britain “has 40 fossil fuel projects awaiting planners’ approval before 2025”
The UK has a pipeline of at least 40 major projects in oil, gas or coal extraction and refining awaiting planning consent, environmental analysts...
Van Beurden to step down as Shell boss, Sawan steps up
Ben van Beurden is to quit in December after nine years as CEO of Shell, the company told shareholders this morning.
After 39 years with...
New oil digs in North Sea ‘marginal’ in lowering UK consumer bills, say government...
New exploration licences granted by the government to boost declining North Sea oil production will have ‘at most a marginal effect’ in lowering bills...
Big gas users greet ESO’s extension to 23 December for DSR bids
Representatives of Britain’s heavy gas users in industries such as cement and glass have welcomed the gas grid operator’s decision to extend its deadline...
French oil giant elects to Mac-ron more of carbon cutting goals
Influential shareholders in France’s biggest hydrocarbon extractor TotalEnergies have welcomed its decision to accept a timetable for stripping carbon from its activities.
Before its AGM...
Grid sets new low carbon record in April
Britain’s transmission grid set a new low record for carbon intensity last month, tumbling to 33g/kWh on Monday 10 April.
80% of electricity in early...
Shell moves single HQ to London, drops ‘Royal Dutch’
Fossil fuel supermajor Shell today announced proposals for its slimmed down structure, including a single headquarters and tax residence in Britain.
Subject to approval sought...
Fracking ban lifted, as D-BEIS confirms 100 new North Sea licences
The government this morning tore up a manifesto commitment, rescinding Britain’s 2019 moratorium on onshore fracking for gas, citing the need to increase national...
Schtum on prices, Centrica boss says UK gas supplies ‘unaffected’ by Putin’s Ukraine attack
British Gas’ eleven million consumers will face no interruption to gas supply after Vladimir Putin unleashed his duplicitous attack today on democratic Ukraine, Centrica’s...
Another oil extractor plans North Sea rigs run on electricity spun from wind
Hydrocarbon extractor Neptune Energy has become the latest oil company to consider switching to clean electricity to run its offshore rigs and pumps.
Storage of...
BP’s Q1 profits 50% up, despite £16 billion Rosneft hit
Fossil fuel supermajor BP has posted underlying Q1 profits of nearly £5 billion, up 50% year on year, despite taking a £16 billion loss...