Gran Tierra Energy pounces on i3 Energy in £175m deal August 20, 2024 Oil producer Gran Tierra Energy has announced a £175m deal to acquire its London-listed peer i3 Energy. Under the terms of the deal, which was announced in the early hours of this morning, Gran Tierra said it would offer one new Gran Tierra share for every 207 i3 Energy shares held as well as 10.43p [...]
Harbour Energy returns to profit despite falling revenue and cash flow August 8, 2024 Harbour Energy has returned to the black on Thursday despite the largest UK-based North Sea oil and gas firm suffering a dip in revenue and cratered free cash flow. The producer had been a victim of the energy profit levy imposed off the back of energy price spikes in 2022, with the 75 per cent [...]
FTSE 100: BP, Shell and oil prices surge on assassination of Hamas leader in Iran July 31, 2024 The FTSE 100 jumped over a hundred points on Wednesday morning, after the assassinations of two Hamas and Hezbollah leaders caused the index’s energy and commodities constituents to surge. Shares in BP and Shell both rose by between two and three per cent in early morning trading, helping the index as a whole to jump [...]
Higher windfall taxes will be the death of investment in the North Sea July 31, 2024 Introducing Norway-level taxes without the accompanying investment incentives proves Labour’s energy policy is driven by ideology – not security, says Andy Mayer The day before the new Labour Chancellor Rachel Reeves sounded the death knell for Britain’s North Sea oil industry and put up to 200,000 workers on notice the ‘I’ newspaper led with the headline “Starfish and other seabed species [...]
BP: Oil giant lifts dividend as it beats expectations in second quarter July 30, 2024 Oil giant BP reported a stronger-than-expected net profit for the second quarter and raised its divided despite earlier warnings of lower refining margins.
Banning North Sea oil will only benefit Saudi Arabia July 16, 2024 Fossil fuels will remain part of the energy mix for decades to come – if we don’t extract our own resources from the North Sea, our loss will be other polluters’ gain, says Andy Mayer The new government’s plans to capitulate to the likes of Just Stop Oil by banning new drilling licences in the [...]
Election 2024: Labour will seek mandate for growth with ‘wealth creation’ manifesto June 13, 2024 Keir Starmer will seek a “mandate for economic growth” as he unveils Labour’s election manifesto, pledging to “be the party of wealth creation”.
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.
Swinney: Labour would cause ‘devastation’ to employment in oil and gas industry June 1, 2024 “There’s a lot of independent commentary that indicates that the plans of the Labour Party and particularly their tax grab that is being perpetuated by the Conservative and Labour parties is having a real damaging effect on investment in the oil and gas sector".
Gulf Keystone Petroleum launches buyback to remedy ‘weak share price’ May 13, 2024 Gulf Keystone has struggled over the past year, but the group seems to be making a comeback.