Covid’s lingering impact drags down Petrofac revenues August 11, 2022 Covid-19’s challenges for the industry are still being felt as Petrofac reported declining revenue in the first half of 2022 at $1.2bn (£0.98), a drop from the $1.6bn (£1.3bn) in the same period last year. The energy services company’s net loss was at $14m (£11.4) with EBIT at $2m (£1.6m), a contrast from the $49m [...]
Exclusive: Industry body warns against more stringent windfall tax August 11, 2022 Offshore Energies UK has warned against further tampering to the windfall tax, which it believes would hurt investor confidence.
Today: Govt to hold emergency talks with energy chiefs as anger over spiralling energy bills rises August 11, 2022 Energy bosses will meet with Government tomorrow, to discuss how they can ease pressure on consumers facibng record bills.
Hungary caves to Russian pressure as it pays transit fees for oil supplies August 10, 2022 Hungarian energy group MOL has submitted transit fees to Ukraine, on behalf of Russia, to restart flows of oil crude from the country.
EON slashes stake in Nord Stream 1 pipeline by €700m amid Russia-Europe uncertainty August 10, 2022 Europe's largest energy network operator has slashed the value of its stake in the Nord Stream 1 gas pipeline by around €700m
Household energy debts reach all-time high of £1.3bn ahead of winter price cap hikes August 10, 2022 Household energy debt is standing at an all-time high of £1.3bn ahead of expected bill hikes this autumn, according to Uswitch.
Poorly insulated households to pay £1,000 per year more on their energy bills August 10, 2022 Households with poor efficiency ratings will have to cough up nearly £1,000 more on their energy bills this year amid a cost of living crisis.
Emergency talks: Chancellor and energy bosses hold crisis meeting as gas bills risk climbing to £4,400 August 10, 2022 Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng will hold emergency talks with energy sector chiefs today as the price cap was forecast to hit more than £4,400 in January. In a new dire outlook for households, Cornwall Insight said bills are set to soar to around £3,582 in October, from £1,971 on Tuesday, before [...]
Insurers grapple with transition to a greener world August 10, 2022 Last week, a coalition of thirteen of the UK’s major insurers vowed to cut their supply chain emissions as part of the Sustainable Markets Initiative’s (SMI’s) sustainable supply chain pledge. In signing the SMI pledge, the 13 insurers and brokers – including Axa, Phoenix, Lloyd’s, and Direct Line – vowed to work with their suppliers [...]
Kistos and Serica walk away from proposed mega-merger August 9, 2022 Both companies have ruled out a final bid for the other, bringing an end to a series of bids between both parties since May.