Ofgem to investigate claims of wind farms overcharging billpayers millions February 2, 2024 Energy regulator Ofgem is investigating the claims that wind farms may have incorrectly added close to £51m to taxpayer bills since 2018.
Dutch battery firm Lionvolt saves London-listed AMTE Power from collapse February 2, 2024 AMTE Power’s business and assets have been sold out of administration to Dutch battery technology firm LionVolt. The sale ends a process for the beleaguered battery cell manufacturer, the only of its kind founded in Britain, that have run since June last year when the notified investors that it was struggling to raise additional finance [...]
Shell chief says ditching oil production wind-down was not to ‘create a lack of transparency’ February 1, 2024 Last year’s walk-back of Shell’s staggered oil production cuts was not done to “create a lack of transparency” but to “focus on the key targets that matter,” Shell’s chief executive has said. In an analyst call following the company’s release of its fourth quarter and full-year results for 2023, Wael Sawan said the decision to [...]
Glencore: Mining giant expects profits to hold despite key metals output slump February 1, 2024 Glencore expects production of nickel, cobalt and copper to come in lower this year on top of already depreciated levels
Sexual misconduct probe was launched against sacked Endeavour Mining boss February 1, 2024 Sebastien de Montessus is said to have faced sexual misconduct allegations while leading Endeavour Mining
Shell beats expectations on profits and woos investors with £2.7bn share buyback February 1, 2024 Shell is the first energy giant to post a sharp downturn in profits for 2023 as the oil market settled lower than the historic pricing seen in 2022
De Beers sales dip adds to Anglo American woes January 31, 2024 Sales at South African-British diamond merchant De Beers have fallen, the firm reported today, adding to the woes of its owner Anglo American.
Hydrogen specialist ITM Power quadruples revenues as turnaround plan delivers January 31, 2024 Hydrogen energy storage company ITM Power has quadrupled revenues and cut losses one year on from the adoption of a company-wide transformation plan. The hydrogen energy storage company reported that revenues for the six months period ending October 2023 came up to £8.9m from £2m year-on-year while adjusted EBITDA loss was slashed from £54.1m to [...]
Shell hopes to reassure shareholders of green gains amid expected profit hit January 31, 2024 Of the two UK oil majors, Shell has been the quieter of late. Market discussions in recent weeks have largely revolved around BP’s former finance boss-turned chief executive Murray Auchincloss. Specifically, what his tenure could mean for a company that seems stuck between a rock and a hard place balancing shareholder returns with a demanding [...]
Saudi Aramco production cut prompts questions about future oil demand January 30, 2024 Saudi Aramco said today that it will cancel a planned production boost after receiving orders from Saudi Arabia's energy minister.