BP boss says UK windfall tax would challenge energy investment
A windfall tax could crimp investment in the UK’s energy system, said the chief executive of BP.
A windfall tax could crimp investment in the UK’s energy system, said the chief executive of BP.
The industry regulator has dished out two carbon storage licenses, taking the total number of permits in place in the UK to six.
Oil giant BP (LON: BP) has continued its rampant expansion into offshore wind with the submission of bids for a pair of leases in the Netherlands.
Offshore wind sector suppliers have called on the industry to work together to secure opportunities for the domestic supply chain, and criticised projects for which work has already been sent abroad.
Efforts to drive green job creation in the UK have “stepped up a gear” after a dedicated taskforce held its inaugural meeting.
Energy services giant Subsea 7 has bagged a multi-million pound contract for work in the Caribbean.
North Sea firm Orcadian Energy has shared its electrification blueprint for axing operational oil and gas emissions by up to 80%.
Heerema Marine Contractors (HMC) has been selected as a strategic supplier to the Equinor-BP joint venture developing the Empire and Beacon Wind projects off the east coast of the US.
The Global Underwater Hub (GUH) has announced the makeup of its new ten-strong board, drawing on talent from across the energy and marine sectors.
Boris Johnson urged the oil majors BP and Shell to invest “massively” in renewables to shore up the UK’s energy security, as soaring prices squeeze household budgets.
Proposals to decommission the Foinaven floating production storage and offloading (FPSO) vessel have been approved by government.
Operators are cracking on with decommissioning with numerous wells in line to be plugged and abandoned (P&A) in the coming months, particularly West of Shetland.
The leading offshore UK trade body has claimed North Sea firms could spend up to £250 billion domestically by 2030, “far greater” than any sum to be raised through a windfall tax.
BP has announced plans to invest £18 billion in the UK energy system by 2030, with the North Sea at its heart, days after calls were once again raised for an oil and gas windfall tax.
“Exceptional” oil and gas trading meant BP (LON:BP) raked in healthy profits in the first three months of 2022.
After a decade of languishing in the doldrums, the US offshore wind industry is picking up steam as it races to meet new installation targets set by the Biden administration.
A new wave of oil platforms is sweeping into the US Gulf of Mexico as crude prices are riding historic levels and demand for barrels is higher than ever.
Next week will see supermajors BP and Shell publish results for one of the most turbulent quarters in recent memory, as they each look to reconcile continued bumper cash flows with the write-down of Russian investments.
BP (LON:BP) has restarted its second liquefied natural gas (LNG) export train at the Tangguh complex in Indonesia following a shutdown due to mechanical irregularities. The Tangguh Train 2 plant has a processing capacity of 3.8 million tonnes per year of LNG.
BP has sold its 5% stake in North Sea operator Serica Energy (LON: SQZ) for £49.3 million.
There are concerns that the rest of the world could again reap the lion’s share of the benefits from Scotland’s renewables boom.
Offshore wind developers have set out their intention to invest billions in Scotland’s supply chain in the coming years.
Liquefied natural gas (LNG) developer Woodside (ASX:WPL) is considering new investment opportunities, including the Browse and Greater Sunrise fields, on expectations that new supply will be needed to alleviate global energy market tightness.
Siccar Point Energy has enjoyed a $359 million boost thanks to its holding in the BP Schiehallion field in the West of Shetland.
China’s key state-run energy companies are in talks with Shell to buy its stake in a major Russian gas export project, according to people with knowledge of the matter.