‘Current share price doesn’t reflect’ value of Ithaca, claims chairman
Subdued commodity prices and the UK’s tax system are being blamed for Ithaca Energy’s (LON: ITH) perceived undervaluation.
Hydrogen storage – new approaches required
It’s clear that hydrogen produced from renewable energy will play an important role in supporting our transition away from fossil fuels to a low carbon energy system.
Valaris urged to follow TotalEnergies’ lead and open up on North Sea rig incident
A trade union boss is encouraging Valaris to be upfront about the circumstances that led to a worker going missing from a North Sea rig.
Is there a new dawn for Altens Industrial Estate in Aberdeen?
Altens Industrial Estate in Aberdeen is on the cusp of a new lease of life as a “hub of excellence” for driving the world’s energy transition, it has been claimed.
Oil protestors halt Humza Yousaf’s first Holyrood questions as leader to demand an end to North Sea drilling
Anti-oil hecklers brought the Scottish parliament to a standstill in a choreographed series of protests during Humza Yousaf’s first appearance for questions as leader today.
Cambo ‘very difficult’ to sanction without windfall tax reforms, warns Ithaca boss
Ithaca Energy (LON: ITH) is appealing to Westminster to overhaul its energy profits levy, warning that the future of a key oil and gas project could count on it.
Orcadian to stoke market for Pilot farm-in offers in coming months
North Sea firm Orcadian Energy (LON: ORCA) plans to stimulate offers for its multi-million barrel Pilot project in the coming months.
Petrofac and Hitachi bag landmark offshore wind deals worth around £11bn
Petrofac (LON: PFC) and Hitachi Energy have been awarded a mammoth, multi-year offshore wind framework agreement by transmission system operator TenneT.
Ithaca Energy trebles profits during ‘transformational’ year
But the North Sea firm also lamented the “fiscal uncertainty” created by the energy profits levy (EPL), confirming a $767m deferred tax charge as a result of the government policy.
Starmer says ‘proper’ North Sea levy could fund council tax freeze
A Labour government would freeze council tax bills this year, Sir Keir Starmer will say as he launches his party's campaign for the May local elections.
Chancellor unveils govt’s green technology scheme with swipe at Joe Biden
Chancellor Jeremy Hunt unveiled the first step of the Government's response to the US' multibillion-dollar investment in green technology with a swipe at Joe Biden.
Aberdeen KPMG boss Martin Findlay’s glass is half full after 31-year career
Martin Findlay’s glass is half full.
Cnooc’s earnings soar on energy crisis, oil price windfall
Cnooc reported record annual profits as China’s biggest offshore oil and gas driller reaped the benefit of last year’s surge in energy prices.
Academics urge Sunak to end approvals for new oil and gas projects
Hundreds of academics have sent a letter to Prime Minister Rishi Sunak urging him to end approvals for all new oil and gas developments.
Wood boss Ken Gilmartin champions UK North Sea expertise
The UK North Sea remains a key part of the business of global engineering and consultancy services giant Wood, its boss said on Tuesday.
Norwegian oil firm Noreco to change name
Norwegian Energy Company, or Noreco for short, has announced plans to change its company name.
TotalEnergies spuds West of Shetland ‘well to watch’
French supermajor TotalEnergies (LON: TTE) has begun drilling a hotly anticipated exploration well West of Shetland.
National Trust ‘seriously concerned’ after oil spill washes up on wildlife haven
Oil from the Poole Harbour pipeline leak has washed up on the shores of Brownsea Island - a wildlife haven and protected site of special scientific interest.
Oil firm starts shutdown in Kurdistan amid Iraq-Turkey dispute
One of the biggest oil producers in Iraqi Kurdistan has started to lower production as a dispute between the region’s government and Baghdad drags on.
10 North Sea fields nearing govt approval found over 30 years ago on average
But OEUK's Ross Dornan is warning that “if they were already challenging beforehand, they are even more challenging now”.
North Sea boss warns UK is ‘falling behind’ in global race for energy investment
An industry boss has questioned the UK’s ability to source the £1.4 trillion needed to zero out carbon emissions by 2050.
Equinor boss wants Rosebank FID before Offshore Europe, as activists threaten ‘tidal wave’ of action
Arne Gurtner, Equinor's senior vice president for the UK, told an OEUK event that he wants the industry to be talking about FID on Rosebank by the time Offshore Europe rolls around.
North Sea firms slash 500m barrels from plans on EPL uncertainty, OEUK finds
Millions of barrels of oil and gas could be left in the ground as North Sea firms tailor their plans to the UK’s “uncertain” tax regime.
Floating wind solutions from an unlikely ally: offshore drilling
The Scottish Government has set a target of becoming a net zero carbon nation by 2045 and is aiming to more than double its current renewable electricity generation by 2030. Its big bet to achieve this is wind power, given its low cost and the large potential for viable installations in North Sea waters.
Denmark asks Nord Stream 2 to help identify object near blast
The Danish Energy Agency has invited Swiss-based Nord Stream 2 to participate in an operation to lift an unknown object found next to the damaged gas link in the Baltic Sea.