Like much of his tenure as Prime Minister, Boris Johnson’s relationship with the energy sector has been somewhat rocky.
Environmental groups say a change of ownership at the controversial Cambo development will not alter the prospects for what they call a "doomed" field, following news that Ithaca Energy will acquire operator Siccar Point.
Securing an extension to the Cambo licenses affords Siccar Point Energy time to find the right partner to progress the project.
Oil prices could nearly double by the summer if more countries follow suit in banning Russian oil imports, analysts have forecast.
While the future of the Cambo project remains on hold, Siccar Point Energy’s intentions for the scheme could soon become clearer.
Shell’s shock decision to back out of the contentious Cambo field caps a tough few months for the oil giant, as far as the North Sea goes.
The first London-listed clean hydrogen investment fund has been announced, with a £25million boost from chemicals giant Ineos.
A major downgrade in reserves, a written-off discovery and warnings of a shareholder wipeout are a “real blow to investors and debt holders” of Hurricane Energy, an analyst has said.