BP ramps up fossil fuel spending and rows back on green targets February 26, 2025 BP will dial up its spending on oil and gas by $10bn (£7.9bn), slash its investment into renewable energy and offload $20bn of underperforming assets as part of a major strategic overhaul that aims to boost its beleaguered share price. In a much anticipated – and delayed – announcement from boss Murray Auchincloss, the British [...]
Octopus sees ‘electric’ demand for shares in green energy projects February 20, 2025 A new investment platform allowing consumers to purchase shares in green energy projects has sold out within its first week. Octopus Energy had initially offered investors the chance to buy holdings in two wind turbines via the platform, which is known ‘the Collective’. Such has been the level of demand for the scheme that the [...]
Reform UK call for windfall tax on renewable energy in anti-net zero push February 12, 2025 Reform UK has said they would introduce a windfall tax on renewable energy as they announced they were “serving notice” on the industry. The party has detailed a set of “policies to undo the effects of net zero”, in the wake of a series of polls and voting intention surveys that saw it beat Labour [...]
BP to target shareholder returns as firm plans fundamental reset February 11, 2025 Oil and gas giant BP has promised to “fundamentally reset” its strategy and improve its performance after profit crashed last year. On Tuesday, the group reported a near 50 per cent decline in profit for the fourth quarter due to a collapse in profit at its refining arm. The results prompted boss Murray Auchincloss to [...]
Shell’s spending on renewables falls as firm prioritises shareholder returns January 30, 2025 Shell paid out more than £18.7bn to shareholders in 2024 while cutting spending on renewable energy according to its full year results. The FTSE 100 giant reported a dip in earnings from £23bn in 2023 to £19.1bn in 2024 amid weaker oil prices and lower demand for fossil fuels. Despite the drop-off in earnings, Shell said [...]
Inflation is a wake-up call: We need energy sovereignty now November 22, 2024 Energy costs are continuing to drive up inflation because we have a system that’s tied to geopolitical speculation rather than supply and demand. The answer is to generat eclean power on and around our own shores, says Joe McDonald Every business owner remembers that feeling of dread in the winter of 2022 as energy bills [...]
Ofgem consults fund to speed up UK power projects November 20, 2024 The new scheme would provide billions of pounds to help owners cut delays, bring down costs and attract international investment, Ofgem said.
Hydrogen Future Industries PLC November 1, 2024 | Sponsored Hydrogen Future Industries Plc invests in technologies which aim to reduce the cost of hydrogen produced from renewable energy and provide hydrogen energy storage at a fraction of the cost of lithium-ion batteries. Our most advanced system in development is a unique, highly efficient wind turbine, combined with a high-performance electrolyser, which aims to generate [...]
If money’s tight, why waste it on futile GB Energy? October 28, 2024 The fiscal pain of this budget will be worse because of needless GB energy, writes Conservative Environment Network director Sam Hall.
Ministers to speed up energy ‘skills passport’ amid worker shortages October 17, 2024 The energy secretary will speed up oil and gas workers being able to transition to jobs in the renewable energy industry via a “skills passport” as workforce shortages are “hindering” the sector. Energy security and net zero secretary Ed Miliband confirmed his department will “provide project management advice” to Offshore Energies UK (OEUK) and Renewable [...]