Energy tycoon fires up UK gas storage project September 22, 2025 An Irish energy tycoon has revealed plans to build a new gas storage site in the Irish Sea that would boost the UK’s capacity by over 50 per cent. Tony O’Reilly Jr’s Dcarbonx, which is backed by gas infrastructure behemoth Snam, wants to redevelop a former gas site off the coast of Barrow-in-Furness as part [...]
Trump hikes India tariffs to 50 per cent for fuelling Russian ‘war machine’ August 6, 2025 President Donald Trump has imposed an additional 25 per cent tariff on India after the country’s government imported Russian Federation Oil. In an executive order signed on Wednesday, the White House said it would slap Indian imports with the fresh levy taking their overall rate to 50 per cent. The President warned on Tuesday he [...]
Shell: FTSE 100 giant takes profit beat amid weak oil prices July 31, 2025 FTSE 100 juggernaut Shell posted a dramatic hit to earnings in the second quarter amid a volatile period for oil and gas prices. The London-listed oil major recorded $4.26bn (£3.21bn) marking a 32 per cent fall from the second quarter of 2024, where the firm pocketed $6.29bn. But Shell managed to scrape past an LSEG-compiled [...]
Ofgem gives green light to landmark electric grid upgrade July 1, 2025 The UK’s energy regulator has approved a £24bn investment to upgrade the UK’s energy infrastructure as a part of its green transition. The Office of Gas and Electricity Markets (Ofgem) move comes as the government renews its push for cleaner energy, despite backlash around the impact on prices. Over £15bn is set to be deployed [...]
Centrica: British gas owner to sell stake in North Sea gas field to Ithaca Energy May 20, 2025 Centrica has announced plans to sell off a big chunk of its holding in the Cygnus gas field in the southern North Sea. The deal will see Spirit Energy – a subsidiary of Centrica – offload its 46.25 per cent stake in the site for around £215m to Ithaca Energy. Centrica, which owns British Gas, [...]
Ofgem: Energy price cap will rise in April February 25, 2025 Households will pay an extra £9.25 for their electricity each month from April as Ofgem increases its energy price cap by 6.4 per cent. The price cap – which sets a maximum rate per unit and standing charge that can be billed to customers for their energy use – will rise by £111 for an [...]
Cadent Gas reveals plans for 60-mile blue hydrogen pipeline October 20, 2024 Gas distribution company Cadent has revealed plans for a blue hydrogen pipeline across the north of England, sparking a wave of environmentalist pushback. The gas giant, owned by a syndicate of firms led by investment bank Macquarie, has said the project will be “the first building block in a wider network” of hydrogen pipelines across [...]
Labour’s North Sea windfall tax plans branded a ‘blunt response’ that will hammer businesses across the UK August 22, 2024 The government’s plans for North Sea oil and gas are a “blunt response” that could jeopardise hundreds of thousands of jobs not just in the energy sector, several of the industry’s leading figures have warned. In an open letter to the Treasury, over 40 companies with operations in the North Sea voiced their “grave concern” [...]
Russian gas flooding Europe: New government should “seize the opportunity” to close loopholes in sanctions regime, warns lawyer July 2, 2024 A British business that trades in Russian liquefied natural gas by operating an "unusual ship", has not been breaching the sanctions put in places after the Russian invasion into Ukraine
Is Ithaca Energy’s £754m buy of Eni’s North Sea oil and gas assets a good deal? April 24, 2024 Dark clouds of political uncertainty and the green transition hang over Ithaca Energy's blockbuster £756m buy.