Goldman warns oil prices could double if Houthi Red Sea shipping attacks continue January 5, 2024 Maersk has suspended all shipping through the Red Sea until further notice
Ithaca chief departs oil giant after post-IPO malaise January 5, 2024 Oil and gas producer Ithaca Energy’s chief executive Alan Bruce is leaving the company, which has taken on water since its disappointing stock market flotation last year. A statement released by the firm today confirms Bruce’s departure “to pursue new opportunities” with immediate effect. While the search for a permanent replacement begins, chief financial officer [...]
Relief for drivers as UK petrol prices fall by 6p per litre in December January 5, 2024 The average price of petrol in the UK fell by 6p per litre in December in a relief for consumers after a year of trouble at the pumps.
BP and Equinor bin New York wind farm as surging costs derail yet another green energy project January 4, 2024 BP and Equinor have scrapped the contract to deliver the project at a strike price of $107.5 per MWh
Moving markets: What’s shaping the FTSE 100 today January 4, 2024 Moving Markets Today: Asia Tracks Wall Street Decline, Oil Prices Rise on Middle East Supply Concerns, China’s December Services Surge, Spotlight on UK Services PMI and U.S. Labor Market Data Global markets declined as U.S. stocks faced profit-taking after a strong 2023 finish. Asian markets followed suit on the heels of the Fed signalling a [...]
Oil Prices rise on Middle East supply fears January 4, 2024 Brent crude gained 0.3% to hit $78.46 per barrel, while U.S. West Texas Intermediate crude futures increased by 0.43% to $73.01
Saudi Aramco nearing $5bn tender decision on world’s largest offshore oilfield January 3, 2024 Indian engineering firm Larsen & Toubro (L&T) is the favourite to win an initial construction agreement
UK nuclear power crashes to 40-year low in 2023 January 3, 2024 Hinkley Point C could meet the energy needs for six million homes
Thames Water: Fresh blow as major investor takes £600m writedown January 3, 2024 The decision was “probably difficult but necessary” according to Tim Whittaker, director at Edhecinfra, a research institute and data provider, as reported by the FT.
Green Britain: Fossil fuels fall to just 35 per cent of UK energy supply January 2, 2024 Britain’s energy mix is at its greenest ever according to the latest figures from Drax, one of the country’s largest electricity generators. The energy company said the UK had its greenest year on record in 2023, according to the Times, with renewable and cleaner energy imported from Europe pushing fossil fuels out of the energy [...]