Andrew Austin is making his North Sea return with a new investment company, aimed at buying up UK assets, after selling RockRose Energy.
UK onshore oil and gas firm IGas Energy has entered into heads of terms with US manufacturer BayoTech to produce hydrogen from some of its assets.
Shares in IGas Energy fell more than 5% today after the London-listed producer revealed talks with a prospective investor as it looks to agree a restructuring of its finances.
Councillors have approved plans for exploratory shale gas wells in north Nottinghamshire.
IGas, one of the leading producers of hydrocarbons onshore in Britain, has revealed it is in talks with a number of potential investors.
UK shale gas explorer IGas Energy said today it has signed a farm-out and purchase agreement with Grangemouth refinery operator INEOS. On completion of the deal, INEOS will acquire an interest in licences in north-west England and the East Midlands, as well as an operated stake in acreage held under a licence in Scotland.