Malaysia’s Petronas is expected to contribute to government coffers as much as 59 billion ringgit ($13.25 billion) this year, a cabinet minister said in a statement to parliament published Friday. This would be higher than last year on the back of record-high oil prices and its best ever quarterly profit in at least a decade.
Most UK adults want government spending on North Sea oil and gas redirected to renewables, according to a new campaigner survey.
The Oil and Gas Authority (OGA) has pitched a £100m loan fund to the UK Government to stimulate North Sea decommissioning activity.
Taxpayers’ money and government time is wasted by ministers backing the “wrong” infrastructure projects with a risk that poor decisions could lock in harmful effects on the economy, a think-tank has warned.
A trade union alliance representing oil and gas workers has renewed calls for government investment in North Sea infrastructure.
A new £180million centre aimed at developing shelved, under-developed and early-stage oil and gas technology opens in Aberdeen today.
The Government is being urged to “radically reshape” the energy market to avoid more job losses in the steel industry.
ExxonMobil’s chief executive is being considered for a role in the President-elects government.
The Government’s stance on renewable energy has again come under fire as MPs protest about a potential hike in business rates.
An application for an open-cast coal mine in Northumberland has been “called in” by the Government on climate grounds.
The British Government is being called on to take a tougher stance against Volkswagen over its emissions fraud.
The newly created Department for Business, Energy and Industrial Strategy (BEIS) has unveiled its full portfolio of ministerial responsibilities.
Thailand plans to put up for auction petroleum concessions held by Chevron and PTT Exploration and Production, according to reports.
The Government has ruled out nationalising the steel industry to tackle the threat of thousands of job losses after the Prime Minister admitted there were no guarantees of resolving the current crisis.
The Government has been accused of showing more concern about the UK securing cheap coal than the use of child and slave labour to produce it.
The Green Investment Bank is to be sold off by the Government in a bid to drive more private money into green energy projects. The Government will fire the starting pistol on the sale on March 3 when it invites private investors to express an interest.
The Japanese government said it plans to reduce its greenhouse gas emissions by 80% by 2050 from its current levels.
Energy companies are set to receive more payments to keep the lights on over winter in the face of coal plant closures.
Venezuela President Nicolas Maduro moved to increase the military’s involvement in the country’s oil and mining industries with the creation of a new state company that will report to the Defense Ministry.
Pulling the plug without warning on a £1 billion competition for technology to cut climate emissions from power stations has damaged investment in the UK, MPs have warned. Scrapping the scheme to develop “carbon capture and storage” technology, which captures and stores permanently underground up to 90% of carbon dioxide from fossil fuel plants, will also make it more expensive for the UK to tackle climate change.
A former oil worker has started a petition calling for a rescue package for the UK oil and gas industry. Uchenna Nnamani, 36, worked in the sector until last year, when he was made redundant.
An MP has resigned from his position on a government committee after it was revealed it had been given funding from companies involved with fracking. Kevin Hollinrake has stepped down as the vice-chairman of the All Party Parliamentary Commmittee on Unconventional Oil and Gas.
Prime Minister David Cameron has claimed the oil revenues of ISIS (Islamic State) have been lowered by as much as 25% since the UK became involved in strikes in Syria last month. The politician was giving evidence before the liaison committee in which he faced questions about his energy and climate change policy.
The Government has been accused of “irrational” curbs to renewables subsidies after official projections revealed lower than expected energy bills by 2020. Ministers have said cuts to support for technology such as onshore wind and solar are necessary to prevent rising costs to consumers and to curb the projected overspend on the £7.6 billion budget by 2020 for a raft of green measures paid for on bills. But emails obtained by climate change analysis website Carbon Brief under Freedom of Information rules reveal Government projections which show that, while the overspend will add £12 to average household bills by 2020, overall bills would be £97 lower.
Political parties in Scotland should commit to a national strategy to help businesses and consumers reduce and manage their demand for electricity, environmental and energy groups have said. WWF Scotland and Edinburgh-based company Flexitricity have stressed that implementing a concerted strategy regarding electricity consumption would mean Scotland could avoid the need to build expensive new fossil fuel power stations and more rapidly cut climate emissions. The groups also asserted that such a strategy must go beyond energy efficiency, and include measures to increasingly tap into the vast existing “invisible“ power network of industrial, commercial and public sector organisations.