Neo Energy slows down £900m North Sea project due to windfall tax September 2, 2024 One of the North Sea’s largest oil and gas project has been plunged into uncertainty after its operator announced it was slowing down investment in light of “fiscal and regulatory uncertainty”. Neo Energy had planned to start work on the £900m Buchan project – expected to produce a peak of 35,000 barrels of oil a [...]
Future of Rosebank in doubt as UK drops challenge to judicial review August 29, 2024 The future of Britain’s largest untapped oil field, Rosebank, has been thrown in to doubt after the new government said it would not challenge a judicial review. The decision affects the field which is just off the Shetland Islands, as well as Jackdaw, another untapped site 150 miles east of Aberdeen. Legal challenges against the [...]
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” [...]
Ithaca Energy: Profit tumbles at North Sea oil and gas firm as windfall tax bites August 22, 2024 North sea oil and gas firm Ithaca Energy saw its revenue and profit tumble after being hit by impairment charges, lower production and a dip in the oil and gas prices. The FTSE 250 constituent, which in the Spring announced plans to buy all of Italian competitor Eni’s North Sea assets for £754m, lowered its [...]
‘A complete fabrication’: Government denies claims Ed Miliband has banned new North Sea oil licences July 11, 2024 The government has been forced to deny reports that Ed Miliband has banned the North Sea oil regulator from issuing any outstanding drilling and exploration licences.
Going green? Not without backing from the City, you don’t June 4, 2024 The energy transition requires investment in two things: transition (obviously) and new, greener, cheaper technologies.
Enquest expects to return to growth despite ‘political uncertainty’ May 30, 2024 Enquest said it's looking to return to growth this year despite ongoing political uncertainty.
Ithaca Energy’s income slumps, but it expects ‘material dividend capacity’ from Eni merger May 28, 2024 Ithaca Energy has suffered a drop in income, but the group remains optimistc about future growth.
Ithaca Energy to buy Eni’s UK assets for about £754m April 23, 2024 North Sea oil and gas producer Ithaca Energy said on Tuesday it would buy Eni's UK upstream oil and gas assets for about £754m in an all-stock deal.
Revenue slumps at Enquest as producer attacks ‘challenging’ North Sea operating environment March 28, 2024 Oil producer EnQuest saw revenue fall, but announced a share buyback, in a year trading that was hit by lower oil and gas prices and the continuation of the windfall tax on North Sea oil.