Ratcliffe’s INEOS calls on Labour to reopen North Sea drilling Energy The chemical group owned by billionaire Jim Ratcliffe has urged the government to reopen the North Sea for drilling as it lashes out at its latest energy cost scheme for businesses. INEOS, which was founded by Ratcliffe in 1998, said Labour’s British Industrial Competitiveness scheme (BICS) fails to address UK industries relying “far more heavily [...]
BP eyes finalising sale of solar arm to Kuwait-backed wealth fund Energy Oil giant BP is in advanced talks to sell its solar power business to an investor backed by Kuwait’s sovereign wealth fund as it moves away from pushing net zero. Private equity firm Qualitas Energy, and Wren House, the infrastructure arm of Kuwait Investment Authority, have joined forces to bid for Lighthouse, BP’s solar business. [...]
Energy operator ‘flying blind’ as net zero push threatens hiked bills and blackouts Energy The UK’s net zero push risks leaving the country with higher electricity bills and more susceptible to blackouts, according to a leaked report commissioned by the national grid system. The report, produced by energy consultancy firm Cornwall Insight for the National Energy System Operator (Neso) and shared with The Times by a whistleblower, revealed that [...]
Europe has made a ‘major mistake’ on slow electrification, IEA chief warns July 11, 2026 The head of the International Energy Agency has warned Europe made a “major mistake” by failing to end its economy reliance on imported fossil fuels quickly enough since the 2022 energy crunch. Fatih Birol said Europe’s low electrification rate, electricity’s share of the energy consumed in the EU, of roughly 23 per cent is holding [...]
Making Miliband chancellor would be a ‘mistake’, Trump officials warn July 4, 2026 Senior officials in president Trump’s administration have privately warned that appointing Ed Miliband as chancellor would be a “mistake”, as speculation over who will take over from Rachel Reeves grows. US officials told their counterparts in Britain, as well as senior Labour figures, that they were concerned about Miliband’s opposition to new oil and gas [...]
Starmer overrules Miliband on electric car sales targets as he looks to appease automotive industry June 14, 2026 Keir Starmer will water down the UK’s electric vehicle sales, in a significant blow to energy secretary Ed Miliband’s net-zero agenda, in a bid to quash fears in the automotive industry. According to reports in The Sunday Times, the prime minister is understood to have overruled Miliband following pressure from the industry, the Unite union [...]
Neil Woodford criticises BP board for ousting ‘shouty’ chairman May 30, 2026 Once-renowned investment manager Neil Woodford has criticised the BP board for ousting its ‘shouty’ chairman after less than a year in post. Woodford called out the oil giant’s board for removing Albert Manifold after just eight months in the job, noting that he is the third chairman the company has been through in three years, [...]
‘Enough to keep investors interested’: SSE charges up UK investment May 28, 2026 SSE hailed a record year of investment as it aims to end UK dependence on global volatile energy markets. The electricity infrastructure company invested £3.6bn in the 2025/26 financial year, up from £2.9bn the prior year, as it looks to ramp up the UK’s electricity grid and create lower energy bills. The FTSE 100 group [...]
Energy price cap to jump 13 per cent this summer May 27, 2026 UK households will be hit by a sharp £200 rise in energy bills next month, leaving Brits bracing for a painful winter of higher bills off the back of the Iran war. From 1 July to 30 September the annual energy price cap will be £1,862 per year, up from the current cap of £1,641, [...]
Investment firms anticipate surge in renewable energy spending May 21, 2026 UK investment firms are expecting a sharp surge in financing for renewable energy projects once an end to the conflict in the Middle East is reached, after it triggered one of the worst rises in oil and gas prices in years. Over 85 per cent of firms, accounting for roughly £5.5 trillion in assets under [...]