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...
Into the (light) blue again: Fen-based graphene firm to decarb UAE’s oily gas
A £700 million British clean-tech export deal has been announced to extract and store up to half a million tonnes of CO2e in the...
For ‘windfall tax’, read ‘profits levy’: Sunak doubles fuel help, as £15bn package offers...
After weeks of denying he’d impose a windfall tax on North Sea oil and gas extractors, Chancellor Rishi Sunak today bowed to Ofgem’s fears...
Oil and gas authority seeks first CCUS bids for sub-sea sequestration
The North Sea Transition Authority (NSTA) has this week fired the starting gun for the UK’s first-ever licensing round in offshore carbon storage.
Thirteen zones...
Equinor seeks Net Zero Hydrogen cash for Saltend H2H’s twin
Norwegian powerco Equinor this morning confirmed a bid application for its second blue hydrogen plant in England’s Humberside energy cluster. Its target is 1.2GW...
Competition watchdog finds ‘cause for concern’ in refineries’ pricing
Cartel-busters at the government’s arms-length Competitions and Markets Authority have reported to D-BEIS their ‘cause for concern’ in the trading margins posted by Britain’s...
Pope backs worldwide call for ban on new pumping of fossil fuels
Pope Francis has given his backing for a global ban on new exploration of oil and gas resources.
In the run up to CoP27 in...
BP profits top £7 bn for Q2, highest for fourteen years
Bernard Looney’s “cash machine” lived up to the BP CEO’s notorious characterisation this morning, as the fossil fuel super major posted its highest quarterly...
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,...
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...
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...
Lancashire geology limits England’s fracking feasibility, say academics
Seismic experts at Edinburgh’s Heriot-Watt University confirmed today that rock configurations beneath Britain’s most advanced fracking project raise further questions over commercial feasibility of...
Ofgem: Britain faces possible “gas supply emergency” over winter
Gas supplies to keep the UK’s lights on and homes heated face a ‘significant risk’ of running short this winter, the nation’s energy regulator...
Shell’s van Beurden sees “inevitable” heavier oilco taxes to protect poor
In an allusion to the windfall tax opposed almost uniquely among western Europe’s government leaders by former oil accountant Liz Truss, departing Shell chief...
Green hydrogen to help spin 2.2GW turbines? RWE ponders CCUS for Pembroke
Seizing the gas after combustion at the 2.2GW plant, and introducing hydrogen as a clean fuel, are among possibilities to be assessed.
Scheduled for completion...
North Sea: Government’s 100 new licences to ‘drill, baby, drill’
Britain's oil and gas regulator this morning began delivering on the Truss administration’s enthusiasm for hydrocarbons, inviting interest towards its likely authorising of 100...
Chaos follows MPs’ fracking debate: Tory whips “resign” then “un-resign”, after Rees-Mogg seeks clearer...
A Parliamentary vote on a Labour ban on fracking ended in chaos last night, amid allegations of ministers physically pushing their own MPs into...
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,...
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...