The UK will pull out of a controversial post-Cold War energy treaty after talks to bring the accord in line with the country’s climate goals stalled.
The UK oil and gas regulator has issued 24 new North Sea exploration licences as part of its latest Licensing Round, with oil majors Shell, BP and TotalEnergies among the winners.
The North Sea’s regulator said the approval of seven developments this year, worth a combined £4 billion, represented “strong votes of confidence” in the basin.
The UK Government is consulting on so-called “sustainable industry rewards” for what it hopes to be its “most impactful” Contracts for Difference (CfD) offshore wind round yet.
Even if Russia ended its war in Ukraine and there was regime change in Moscow, the trading relationship between Europe and its former top energy provider wouldn’t be restored, according to German and British officials.
“With our European neighbours we could have a pipeline of green hydrogen to provide a clean fuel stock to German industry and coming back the other way carbon to the UK [for storage],” he said.
Other recent projects had a gap of two weeks.
“By capping the price the sector could bid at too low, government set it at a level that made it impossible for investors to meet their costs."
But he wouldn’t comment on Equinor’s Rosebank oilfield, which is still awaiting government approval.
The UK Government is reviewing its membership of a controversial pact over claims it is at odds with international climate commitments.
UK energy minister Graham Stuart discusses the government's CCUS investment and its decision to back further North Sea licences
Minister Graham Stuart will join executives from BP, Ithaca Energy and the NSTA to open the near sell-out event.
The UK energy security minister, Graham Stuart, has countered arguments to reject Rosebank, saying that only in a “parallel universe” would it make sense to do so.
An energy minister was met with laughter from the opposition benches when he told the Commons the rest of the world is "playing catch-up" with the UK when it comes to net zero.
The minister of state for energy security and net zero, Graham Stuart, visited Aberdeen this week to meet with industry leaders.
The UK government has confirmed the overall budget for the next contracts for difference (CfD) auction, with support worth £205m up for grabs.
The British government is in talks with the United States and European Union to prevent potential trade barriers from harming its position in the green-energy race.
British Gas is under pressure to explain how it will compensate "vulnerable" customers who faced debt collectors forcibly installing prepayment meters in their homes.
Graham Stuart says oil and gas is not ‘some terrible Tory choice’ but the ‘nature of this economy’
More than 100 bids have been lodged for the UK’s 33rd offshore oil and gas licensing round, the industry regulator has confirmed.
Meanwhile the UK Government has pledged an update on Track 2 - part of its £1bn carbon capture fund - in spring.
MPs challenged the government over its energy efficiency performance and the continued licensing of new oil and gas fields, while a government minister reiterated a continued need for fossil fuels.
A new round of Contracts for Difference (CfD) will open in spring next year, the UK Government has confirmed.
A government minister has pledged to accelerate the second phase of the UK’s carbon capture and storage (CCS) rollout.
A new UK Energy Supply Chain (UKESC) taskforce has been established to help companies to transition to a green economy.