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Draft Brexit deal could damage UK oil

Draft Brexit deal could damage UK oil

Analysts have warned that the UK’s draft withdraw agreement for leaving the European Union could increase the costs of retaining skilled workers, threatening the industry. Last week a draft Brexit deal was published, which according to analysts contained a number of uncertainties for the industry. David Gibbons Wood, a business […]

The US plans fossil fuel side event at UN climate talks

The US plans fossil fuel side event at UN climate talks

The Trump administration has announced plans to hold a side event at next month’s UN climate talks to promote the use of fossil fuels, according to sources. During last year’s discussions in Bonn, Germany, the US administration a held similar event used to highlight the benefit of technologies that allow […]

Venezuela to share economic data with the IMF

Venezuela to share economic data with the IMF

Crisis stricken Venezuela is set to share its economic data with the International Monetary Fund (IMF) for the first time in two years, since its economic problems became severe, in order to avoid penalties that could include the exclusion of the IMF. According to two people with direct knowledge over […]

US judge halts pipeline construction

US judge halts pipeline construction

A US judge has blocked the construction of the Keystone XL Pipeline from Canada to the US, stating the Trump administration has “discarded” facts when it approved the project in 2017. US President Donald Trump, who described the decision as a disgrace, and his administration will be able to appeal […]

SSE reveals Npower deal could fall through

SSE reveals Npower deal could fall through

UK energy giant SSE has expressed a level of uncertainty over its planned merger with Npower after the two companies delayed the deal as a result of incoming caps on default tariff prices. SSE said the impending price cap on standard variable tariffs (SVTs) is expected to increase pressure on […]

Global coal demand rises in 2017

Global coal demand rises in 2017

Global coal demand rose in 2017 as developing countries opt for coal as fuel to drive industrialisation. The International Energy Agency’s annual World Energy Outlook published on Tuesday shows that coal will essential for heat and light through to 2040. According to the report, “Many developing economies view coal as […]

UK could face energy shortages this winter

UK could face energy shortages this winter

UK is in desperate need of more gas storage sites as supply shortages could cause power cuts this winter, according to a top energy consultancy. Wood Mackenzie have described the UK’s gas supply position as “precarious” with fears that a particular cold winter could cause blackouts. In the past couple […]

Toshiba expects loss of $1bn over sell-offs

Toshiba expects loss of $1bn over sell-offs

Toshiba will be hit by losses of almost $1 billion after it was forced to let go of its UK and US energy businesses. The move is part of the firm’s restructuring programme over the past three years that included the collapse of its US subsidiary Westinghouse Electric. Toshiba’s UK […]