Other News

Customers left in debt after backing government energy scheme

Customers left in debt after backing government energy scheme

Hundreds of families across Scotland have found themselves in debts of up to £21,000 after signing up to a government backed energy scheme. A “rogue company” has tricked over a thousand Scottish customers into buying energy saving measures, including solar panel, insulations and underfloor heating, on finance and were misled […]

Saudi Arabia pump record levels of oil on pressure from Trump

Saudi Arabia pump record levels of oil on pressure from Trump

Saudi Arabia has increased its oil production to an all-time high in November as US President Donald Trump stepped up pressure on the country to prevent it from applying output cuts at next week’s OPEC meeting. The meeting will see OPEC members discuss ways to bring an end to the […]

UK increase coal use as gas market tightens

UK increase coal use as gas market tightens

Coal fired power plants have reached a new level of profitability in the UK, making 35% of coal power stations more profitable than 50% of their gas counterparts, according to data from S&P Global Platts. According to the data, the month-ahead clean dark spread, which refers to the profitability of […]

Government cuts wind subsidies

Government cuts wind subsidies

The UK Government has cut subsidies for offshore wind farms, forcing projects to seek cost cutting measures to help push their proposals forward. Energy minister Claire Perry announced, in May, subsidy contracts worth up to £60 million a year for new projects – one third of the value of subsidies […]

Oil falls to one-year low on supply glut

Oil falls to one-year low on supply glut

Global oil prices have plummeted to their lowest since late 2017, weighed down by oversupply and fears over economic outlook. In response to the growing supply, OPEC is expected to withhold its output following a meeting planned for 6th December as international benchmark Bent crude dropped to its lowest since […]

Argentina to begin first LNG exports in 2019

Argentina to begin first LNG exports in 2019

Argentina is set to begin exports of liquefied natural gas (LNG) in 2019 from its Vaca Muerta shale play. Argentinian energy firm YPF has joined Belgian energy shipping company Exmar in a ten year agreement, which will see Exmar position a floating LNG unit in the Port of Bahia Blanca […]

Centrica shares plummet as customers leave

Centrica shares plummet as customers leave

Centrica has lost 372,000 home energy customers in the four months to the end of October as high levels of competition from smaller firms mount on the Big Six. The figures revealed represent a 3% drop in the energy giant’s 12.5 million gas and electricity accounts from June, highlighting the […]

New Petrobras CEO will not privatise company

New Petrobras CEO will not privatise company

The newly appointed Petrobras CEO has ruled out the privatisation of the state-run company but has said he will push forward plans to sell non-core assets, with a focus on oil exploration and production. The incoming far right government, that is set to take power in January, has announced Roberto […]