Think tanks call for government to ensure secure gas supplies as market crisis deepens March 16, 2022 Think tanks call on government must ensure gas supplies are resilient this winter following Russia's invasion of Ukraine and spiking wholesale costs.
UK competition watchdog raises concerns over £6bn Avast buyout by cybersecurity rival March 16, 2022 The UK’s competition watchdog has raised concerns over the £6bn buyout of Avast by fellow cybersecurity firm NortonLifeLock, after launching a probe into the deal in January. The Competition and Markets Authority (CMA) announced this morning that the deal, which was announced in August, between close competitors could harm competition in the market, as there [...]
Roaring jobs market steps up case for another Bank of England rate hike March 15, 2022 A roaring jobs market in the UK is stepping up the case for another rate hike by the Bank of England on Thursday. Strong demand for workers rubbing up against weak labour supply is intensifying inflationary pressures in the jobs market, demonstrating the UK economy is ready for more rate hikes, according to economists. The [...]
Prime Minister Boris Johnson confirms support for North Sea oil and gas industry March 14, 2022 Prime Minister Boris Johnson gave his backing to the North Sea oil and gas industry as the UK looks to ensure supply security.
Oil round up: India weighs up Russian oil as Boris Johnson calls on Saudi Arabia to boost output March 14, 2022 India is considering a Russian offer to buy crude oil and other commodities at discounted prices through a rupee-rouble transaction.
Oil prices to remain high despite ‘unprecedented’ volatility March 10, 2022 Oil prices have gone on a wild journey this week - with prices fluctuating amid escalating conflict in Ukraine.
Gas prices hit record levels this month reveals Office for National Statistics March 10, 2022 Gas prices soared 66 per cent in the week up to 6 March 2022 to record levels at 15.5p per kilowatt hour (kWH), according to the ONS.
UAE hints at supporting boost in oil supplies following Russia’s invasion of Ukraine March 10, 2022 OPEC member United Arab Emirates called for more oil supplies to be pumped into the market yesterday amid fears of supply shortages.
Russia-Ukraine war to take tax cuts off the table, IFS warns March 10, 2022 Even higher inflation triggered by Russia invading Ukraine will take promised tax cuts off the table, a leading think tank warned today. Surging energy prices driven by concerns over the security of oil and gas supplies amid a ramping up in tensions between Moscow and the West will eat into Chancellor Rishi Sunak’s room to [...]
Kwarteng commits to North Sea oil and gas as UK phases out Russian energy supplies March 9, 2022 Business Secretary Kwasi Kwarteng has said the government is committed to North Sea fossil fuel