New investment bank Cavendish targets North Sea energy
Neil McDonald, head of Scotland at the firm, says it wants to support growing energy firms.
Markets
Energy transition juggernaut surely now unstoppable as investment surges
On August 25, the United Nations General Assembly (UNGA) adopted a resolution proclaiming that January 26, 2024 will be dubbed the International Day of Clean Energy.
UK households look to lock in energy prices as crisis recedes
Fixed energy tariffs are making a comeback in the UK, allowing consumers to lock in power and gas rates now that prices have eased from last year’s record levels.
Hydrogen is too expensive for the European companies that want to use it
For all the hype surrounding the emissions-free energy source, European manufacturers both large and small are reluctant to buy into hydrogen
Several offshore wind FIDs planned for 2023 ‘look more at risk’
Orsted's £8bn Hornsea Three wind farm is a prime example, and a number of others globally have been "re-shuffled and refocused."
NEO and Jersey pick FPSO for $900m Buchan North Sea redevelopment
NEO Energy has selected an FPSO for the Greater Buchan Area oil redevelopment in the North Sea.
UK homes facing £6,000 bill for imported gas over next 12 years
The Energy and Climate Change Intelligence Unit (ECIU) said that it would not be possible to avoid this by producing more gas domestically, as the UK's North Sea reserves are dwindling.
Wood shares plunge as Apollo decides against takeover move
Shares in Wood are down 34% on the news that Apollo will no longer be pursuing the Aberdeen engineering giant.
Shell results: Oil giant’s profits reach $9.6bn in Q1
That's a "big beat" from Shell, noted analysts, with earnings arounf $1.5bn higher than expected.
BP’s UK windfall tax payments hit $1bn
The oil giant, which made over $27bn net profits last year, previously said the UK accounts for around 15% its global total.
JAPEX to invest millions in Norway oil exploration via Longboat Energy
Japan’s JAPEX is to invest millions of dollars in exploration in Norway via Longboat Energy.
BP profits hit $5bn in first quarter with more cash for share buybacks
BP (LON: BP) has reported first quarter 2023 profits of $5bn, as more cash is pushed towards shareholder returns.
Windfall tax and lower oil prices dent TotalEnergies huge earnings
Lower oil prices and the UK's EPL saw TotalEnergies' E&P division earnings drop 47%.
Petrofac 2022 results ‘severely impacted’ by E&C challenges
Petrofac (LON: PFC) has released its 2022 full-year results, which new CEO Tareq Kawash said are “severely impacted” by challenges in its engineering and construction (E&C) division.
Viaro strikes £105m deal for series of Hartshead UK North Sea fields
Viaro Energy has agreed to buy the majority stake in a series of North Sea fields from Hartshead Resources (ASX: HHR) in a "landmark" A$196.3m (£105m) deal.
North Sea deals ‘jeapordised’ over joint venture problems
The NSTA is proposing new rules to streamline industry deals and boost energy security.
Neptune Energy pushes on with $5billion sale as Eni cools
Neptune Energy is moving ahead with plans for a sale after talks about a takeover by Italian energy group Eni (MI: ENI) cooled, people with knowledge of the matter said.
‘Who cares wins’: Could ESG investment woes hit the UK supply chain?
Deal-making in the energy industry is no longer a simple affair, regardless of whether it is fresh investment in new capital projects off- or onshore; assets trading; oil & gas/power generation company mergers and takeovers, or supply chain related.
Hutcheon Mearns: Oiling the wheels towards net-zero
It’s been a busy 12 months of Mergers & Acquisitions (M&A) activity as the UK continues to rebound from Covid.
$5bn worth of oil and gas assets up for sale in Southeast Asia
Around three billion barrels oil equivalent (boe) of resources,worth a total $5 billion are on the market, in Southeast Asia.
Wood ‘minded to reject’ new $1.98bn takeover offer from US firm Apollo
Aberdeen-headquartered energy services giant Wood (LON: WG) has seen shares soar after a fourth - and sweetened - takeover offer from US firm Apollo.
Shell would ‘think twice’ about investment in the UK
Shell (LON: SHEL) CEO Wael Sawan has warned that the US is more attractive for investment than the firm’s home base of the UK.
ICYMI: OEUK Budget letter warns Chancellor of North Sea finance and investment risk
This article was first published on March 6.
Equinor acquires Suncor North Sea business in $850m deal
Norwegian oil giant Equinor (OSLO: EQNR) has signed an $850m deal to acquire the UK North Sea business of Canadian firm Suncor (TSE: SU).
UK energy suppliers must pass on benefit of falling costs – Shapps
British energy suppliers must pass on the benefit of falling wholesale energy costs to consumers in the form of cheaper tariffs, according to a senior government minister.