Petroineos to cut Grangemouth oil operations by 2025 in attempt to ‘reflect the decline in demand’ November 22, 2023 The owner of Scotland's only oil refinery has said it could cut operations at the plant as soon as 2025.
OPEC+ meeting delay sends oil prices south November 22, 2023 Oil prices dived today following the news that the Organisation of the Petroleum Exporting Countries (OPEC+) has postponed its upcoming meeting.
Carmakers and energy giants cheer Hunt’s investment booster – but it still falls short of US green deal November 22, 2023 Jeremy Hunt's plans to increase investment in the country's renewable energy sector and electric vehicle industry have been welcomed - but experts warn it might not be enough.
Nextenergy Solar sells assets as it tries to deliver ‘optimal returns’ November 22, 2023 Nextenergy Solar Fund has swung heavily into the red for the first half of fiscal 2024 as it looks to recycle assets. For the six-month period ending September 30th, the company recorded a loss before tax of £11.6m with a loss per ordinary share of 2p. This represented a marked decline from the £77.1m profit [...]
Johnson Matthey: Hydrogen unit powers raised outlook but can’t save 600 jobs November 22, 2023 Johnson Matthey, which makes catalytic converters and pollution filters for cars, raised its outlook for full-year underlying operating performance on Wednesday as cost-cutting efforts pay off and on strong demand for its energy-focused units. The centuries-old British firm, which traces its roots back to testing the purity of precious metals, has raised prices of products and [...]
The massive cost of decommissioning the UK’s oil and gas fields November 22, 2023 Decommissioning costs for the North Sea oil and gas fields could overtake UK capital expenditure within the next 16 years, according to a new report from the sector’s largest trade group. Offshore Energies UK’s (OEUK) 2023 Decommissioning Insight Report, published today, estimates that the process will account for one quarter of the UK’s total oil [...]
Siemens Energy’s struggling wind unit eyes $436m in cost cuts November 21, 2023 Siemens Gamesa, the struggling wind division of Germany's Siemens Energy, plans to cut costs by around €400m (£349m) by 2026.
Shell Energy hit with £1.4m fine by Ofcom for ‘serious breach’ of consumer protection rules November 21, 2023 Shell's UK arm has has received a £1.4m from the media watchdog for a "serious breach" in consumer protection rules.
Copper nudges higher on expectation that China demand will finally return November 20, 2023 Copper prices have started to gradually nudge higher on the expectation that demand from China will pick up in the future.
Less is more, but not for Glencore November 20, 2023 Glencore's near-$7bn acquisition of Canadian miner Teck Resources stands at odds with its green energy goals... or does it?