Other News

Energy cap likely to be in place by winter

Energy cap likely to be in place by winter

After a new law on gas and electricity tariffs price caps was passed by parliament, 5 million British households are set to see receive lower energy bills this winter, said energy regulator Ofgem. The legislation means that the energy regulator will cap prices on standard variable tariffs (SVTs) provided by […]

Norway strike ends

Norway strike ends

The Safe union has confirmed the recent strike action has been brought to a close after an agreement was reached with employers. The dispute between the union and the Norwegian Shipowners’ Association began last week and escalated after six days after the employers failed to meet the demands of Safe, […]

North Sea to maintain output into mid-2020s

North Sea to maintain output into mid-2020s

One of the oil industry’s most influential consultancies, Wood Mackenzie, has published its outlook report that has found that mature areas, including the North Sea, will maintain production levels until the mid-2020s. Oil demand is expected to peak in the mid-2030s, which means the North Sea will have to heighten […]

SSE lose £80m in profits because of good weather

SSE lose £80m in profits because of good weather

Reduced output from renewable energy sources and higher gas prices have led to an £80 million hit on operating profits at SSE during the first quarter of this financial year. The Big Six firm has stated that its operating profits, for the three months to the end of June, have […]

Global coal fleet continues to expand

Global coal fleet continues to expand

In its latest report, the International Energy Agency (IEA) has highlighted the continued expansion of the global coal fleet in 2017, which largely came as a result of high demand in Asian markets. Governments in the Asian market, such as that of India, have outlined their commitment to the expansion […]

US to compete with Russia for European gas market

US to compete with Russia for European gas market

US President Donald Trump has announced that the US will compete with Russia to supply gas to the European gas market, as he eased his stance on Nord Stream 2 following the recent Helsinki summit where Trump and his Russian counterpart held one on one discussions. “We are going to […]

Iran crude exports set to diminish

Iran crude exports set to diminish

Iranian oil exports are set to plummet by as much as two thirds by the end of the year, as a result of new US sanctions that are expected to increase pressure on the market. The sanctions were initially put forward after US President Trump removed the US from the […]

North Sea ready for new wave of exploration

North Sea ready for new wave of exploration

An industry expert from Oil and Gas UK (OGUK) has said the North Sea industry’s focus on efficiency and the success of the previous licensing round was a sign it has a strong future. Mike Tholen, upstream policy director at OGUK, made the remark following the launch of the Oil […]