Shell boss to step down next year after nearly a decade in charge September 2, 2022 Shell's chief executive Ben van Beurden will step down next year after nearly a decade at the helm, according to news agency Reuters.
Westminster push for North Sea fossil fuels slammed by climate groups September 2, 2022 Climate groups have criticised Westminster's latest attempts to boost oil and gas production in the North Sea.
US blocks chip duo from selling certain chips to China and Russia September 1, 2022 The US has successfully blocked two American chip companies, Nvidia and AMD, from selling certain chips to China and Russia. As part of the country’s newly passed $52bn Chips Act, companies taking advantage of the support and desirable subsidies package on US soil must comply with a new regulation – which seeks to limit the supply of [...]
EU considers bloc-wide tax on energy prices as winter crisis deepens September 1, 2022 The EU could bring in a bloc-wide tax on energy profits and cap prices as it ramps up its response to an escalating winter crisis.
Zaporizhzhya: Concern as Europe’s largest nuclear plant shelled by Russia before inspectors arrive September 1, 2022 Major concerns have been raised over Russian attacks on Europe’s biggest nuclear reactor in south-eastern Ukraine. The Kremlin’s forces conducted military operations near the route for officials visiting the Zaporizhzhya Nuclear Power Plant, from the International Atomic Energy Agency (IAEA) today. The Defence Intelligence of Ukraine said Moscow targeted the city of Enerhodar and territory [...]
Head of Russia’s biggest private oil producer, who criticised the war in Ukraine, dies after ‘falling out of hospital window’ September 1, 2022 The head of Russia’s biggest privately held oil producer, who criticised the Kremlin’s invasion of Ukraine, has died after reportedly falling out of a hospital window. Ravil Maganov, chair of the board of LUKOIL, died this week in mysterious circumstances, according to Russian-language site Interfax, as reported by the FT’s Moscow correspondent. The company is [...]
Barclays pulls back from Africa with £538m Absa sale September 1, 2022 British lender Barclays announced it had shed its remaining 7.4 per cent stake in South African bank Absa today as it dramatically pulls back its presence in Africa. Bosses at Barclays said this morning the sale would earn Barclays around £538m, representing around a £31m loss on its investment. The sale followed an announcement from [...]
Zahawi: Nobody should have energy cut off this winter if they can’t pay their bills September 1, 2022 Nadhim Zahawi has said nobody should be cut off in the winter if they’re unable to pay their bills. Speaking on Sky News this morning during his tour to the United States, the chancellor accused Russia’s President Vladimir Putin of using energy “as a weapon”. This comes ahead of the conclusion of the Conservative leadership [...]
Recession will hike oil surplus this year, warns OPEC+ report August 31, 2022 There will be a bigger surplus in the oil market this year as rising energy costs, tighter monetary policy and recession fears weigh down demand.
China’s dominance over container trade risked by ‘zero Covid’ policies August 31, 2022 China’s ports have continued to dominate the container trade, according to a recent survey. Figures published today by Lloyd’s List show that 40 per cent of all twenty-foot equivalent unit (TEU) liftings in 2021 came from China. The country also had seven of the world’s biggest ports – including Shanghai, which won the first prize [...]