Oil markets confirm massive quarterly gains as OPEC+ sustain hefty supply cuts October 1, 2023 Oil markets have consolidated massive rallies over the third quarter of this year, powered by hefty output cuts from OPEC and its allies.
Ofgem’s energy price cap to fall – amid concerns households will pay 13 per cent more than last winter September 29, 2023 A fall in Ofgem’s energy price cap takes effect this weekend amid concerns households could still end up paying around 13% more than last winter. The regulator announced in August that the cap on a unit of gas and electricity would reduce the average bill from £2,074 to £1,923 for the three months from October [...]
‘No political reward from pausing net zero’ as Tories shown to back green policies September 29, 2023 New polling has shown Conservative voters still support net zero, don’t blame the policy for the cost of living and want the government to help them go green – which may give the Prime Minister pause for thought after his net zero U-turn. A survey by right-leaning think tank Onward found 49 per cent of [...]
Will Rosebank improve the UK’s energy security? September 28, 2023 Regulators yesterday gave the green light to start drilling at the largest untapped fossil fuel field in the North Sea - but will it boost the UK's energy security?
National Grid: risk of lights going out this winter has fallen September 28, 2023 The risk of the lights going out has fallen ahead of this winter and is almost back to the pre-energy crisis normal, a new report from the National Grid has found. National Grid’s Electricity System Operator (ESO) said on Thursday that it only expects there to be around six minutes between the end of October [...]
Oil prices rise on US crude draws, tight global supply and Rosebank announcement September 28, 2023 Oil prices rose in early Asian trade on Thursday after surging to the highest settlement in 2023 in the previous session as a steep drop in U.S. crude stocks added to worries of tight global supplies. Brent crude LCOc1 futures climbed 16 cents to $96.71 a barrel by 0001 GMT. U.S. West Texas Intermediate crude futures (WTI) rose [...]
Rosebank’s approval sends oil shares soaring and triggers green backlash September 28, 2023 Plans to develop the UK’s largest untapped oil and gas field were approved by regulators yesterday – sending shares in its backers soaring and triggering a wave of green criticism.
Rising oil prices won’t derail fight against inflation, experts reckon September 28, 2023 Inflation is likely to continue on its downward trajectory despite a recent surge in oil prices, experts told City A.M.
SSE launches £15m energy bill support fund for businesses as winter looms September 28, 2023 SSE has launched a £15m support fund to ease the pressure on businesses struggling with ultra-high energy bills this winter.
Ineos boss Sir Jim Ratcliffe slams UK’s ‘total lack’ of energy policy September 27, 2023 Ineos boss Sir Jim Ratcliffe has hit out at what he sees as the UK’s “total lack” of an energy policy, which he branded “completely irresponsible”.