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Shell changes tune on windfall tax, says it will increase ‘uncertainty’

Oil giant Shell (LON: SHEL) has backtracked on its previous optimism about the UK Government’s new energy profits levy.

By Hamish Penman

Energy Voice monthly supplement, May 2022

Energy Voice’s latest monthly supplement has been published with The Press & Journal. Read More

By Reporter

Oil & Gas

Military plane in near miss with S92 helicopter near Wick’s ‘sleepy little airport’

By Mike Merritt

Deirdre Michie: Supporting consumers is essential – damaging the UK energy industry is no way to do it

By Deirdre Michie, chief executive, Offshore Energies UK

BP to review investment plans following windfall tax, Shell eyes relief

Premium Content

By Hamish Penman

Renewables and Energy Transition

Energy security ‘still trumps’ sustainability, says RenewableUK CEO

By Hamish Penman

INTOG among several Scottish opportunities being chewed over by Equinor, says North Sea offshore wind boss

By Hamish Penman

Santos eyes cheaper carbon storage offshore East Timor at new $1.7bn APAC hub

By Damon Evans

Promoted

Balancing security of UK energy supply with energy transition

By Alasdair Green, Director and Head of E&P at Anderson Anderson & Brown (AAB)

Industry trade body anticipate major announcement to complete investment hat trick at energy conference

By EEEGR

Opinion

Lack of renewables incentive is critical failure in government’s windfall tax scheme

By Jeremy Cresswell, emeritus editor

Deirdre Michie: Supporting consumers is essential – damaging the UK energy industry is no way to do it

By Deirdre Michie, chief executive, Offshore Energies UK

The benefits of a circular economy

By Sian Lloyd-Rees, managing director, Aker Offshore Wind

All Posts

North Sea

TotalEnergies workers accept pay deal following talks

27/05/2022

By Andrew Dykes

Unite has confirmed that offshore workers employed by TotalEnergies have voted to accept an improved pay offer, following a wave of unofficial strike action across the North Sea last week.

CTO and Co-founder of Inductosense, Dr. Cheng Huan Zhong with the WAND Remote Data Collector

Technology

Inductosense to wave WAND for BP in NZTC-backed technology trial

26/05/2022

By Andrew Dykes

Inductosense has secured funding from the Net Zero Technology Centre (NZTC) to develop and trial a new wall thickness monitoring sensor with BP.

Renewables/Energy Transition

UK could still foist windfall tax on electricity firms’ booming profit

26/05/2022

By Bloomberg

A windfall tax on electricity generators making “extraordinary profits” is still an option, UK Chancellor of the Exchequer Rishi Sunak said Thursday after slapping a similar levy on oil and gas companies.

North Sea

‘A proportionate response’ – politicians react to oil and gas windfall tax

26/05/2022

By Hamish Penman

Plans to enact a windfall tax on the profits of the oil and gas companies have drawn a mixed reaction from political figures.

E&P

Eni, Sonatrach agree on fast-track gas developments

26/05/2022

By Ed Reed

Eni and Sonatrach have signed a memorandum of understanding (MoU) on accelerating gas plans and a move towards green hydrogen.

North Sea

Industry slams oil and gas windfall tax which will send ‘shockwaves for years to come’

26/05/2022

By Allister Thomas

Rishi Sunak has announced a multibillion-pound windfall tax on oil and gas, which the industry has slammed as sending "shockwaves" on jobs, investment and communities.

Man dressed in white stands in front of patterned wall, speaking into mic

LNG

Technip Energies signs on to gas plans with COS Petrogaz

26/05/2022

By Ed Reed

Technip Energies has signed a memorandum of understanding (MoU) with Senegal’s COS Petrogaz on LNG and decarbonisation.

Maersk Supply Service Forza subsea support vessel. Supplied by Maersk Supply Service Date; Unknown

E&P

Exxon signs up Maersk Supply Service ahead of Angola drilling

26/05/2022

By Ed Reed

ExxonMobil has awarded Maersk Supply Service work supporting drilling and production offshore Angola, in Block 15.

A black banner calls for system change and support for Kavala Oil workers

E&P

Energean shifts London AGM to skip Greek protests

26/05/2022

By Ed Reed

Energean has shifted its AGM in London in response to a proposed demonstration around working conditions at its Greek oilfield.

North Sea

Ithaca outlines $444m capital spending for 2022 as Abigail and Captain make progress

26/05/2022

By Allister Thomas

Growing North Sea operator Ithaca Energy has set out its expected capital expenditure plans of $444m this year as a pair of projects progress.

Oil & Gas

Petrofac laments ‘cost overruns’ and ‘unfavourable’ settlements as E&C heads for loss

26/05/2022

By Allister Thomas

Petrofac (LON: PFC) has decried cost overruns and "unfavourable" settlements hitting its E&C division and the wider group's cash flow.

E&P

Invictus firms up Baker Hughes drilling deal

26/05/2022

By Ed Reed

Invictus Energy has signed a binding well services contract with Baker Hughes for drilling in Zimbabwe, following a capital raise.

North Sea

Apache to boost North Sea spending as Diamond Offshore wins rig extension

26/05/2022

By Allister Thomas

Apache North Sea has said it plans to boost its UK spending and headcount as it hands a rig extension deal to Diamond Offshore.

North Sea

Windfall tax risks ‘destabilising £200bn of energy investments’ warns industry chief

26/05/2022

By Allister Thomas

A windfall tax, reportedly due to be announced today, risks “destabilising” a planned £200bn of investment in the UK energy system this decade, the industry trade body has warned.

LNG

Galileo aims to bring LNG to the masses

26/05/2022

By Ed Reed

Developing LNG projects is traditionally seen as a big-ticket item, reserved for the few. Costs are high and equipment specialised, making the resource out of reach for most smaller scale operators – despite the advantages it offers.

Oil & Gas

Equinor confirms exit from all Russian joint ventures

25/05/2022

By Andrew Dykes

Equinor said it has now fully exited all joint ventures in Russia, concluding a process begun in February following the country's invasion of Ukraine.