6 h. ago Rosebank and other North Sea oil and gas fields could be given green light under new guidelines

The oil and gas industry has welcomed the consent process being restarted by the UK government.

Politics

8 h. ago Ed Miliband opens the door to more drilling in North Sea despite previously branding plans 'climate vandalism'

The government has issued new guidance that will allow applications to be resubmitted for the Rosebank oil field and Jackdaw gas field.

Politics

8 h. ago Rosebank and Jackdaw North Sea oil fields will face tougher tests to get go

New UK Government guidance says offshore developers will now have to pass climate impact assessments which include emissions from burning gas and oil - rather than just those from production.

Politics

9 h. ago New environmental guidance published for halted North Sea oil and gas projects

Emissions created when fossil fuels are burned will now be taken into account in the wake of a Supreme Court ruling.

Politics

10 h. ago Treasury 'poised to miss out on £250m in tax receipts from Rosebank oil development'

Campaigners have warned the economic case for approving the Rosebank oil field does not stack up

Economics

34 h. ago UK transport secretary calls HS2 an ‘appalling mess’ as she confirms delay

Heidi Alexander vows to ‘sort out’ HS2 project; UK inflation dips to 3.4% as transport costs ease while food prices jumpUK inflation eases to 3.4% amid falling fuel and air fare pricesInflation pressures remain sticky in the UK, according to Rob Wood, chief UK economist at Pantheon Macroeconomics.Looking ahead, we continue to expect CPI inflation to average 3.4% for the rest of the year as strong wage growth, minimum wage hikes and tax increases pass through to retail prices. We think headline inflation will struggle to dip below 3% before April 2026. By that point, inflation will have been above target almost continuously for five years, risking further deanchoring of inflation expectations and persistent wage pressure.Granted, US president Trump’s trade war could lead to some diversion of Chinese exports previously bound to the US, which could cut UK inflation. But war in the Middle-East has boosted oil and natural gas prices, adding 10bp to our forecast inflation peak and risks p...

Politics

35 h. ago Trump promised riches from ‘liquid gold’ in the US. Now fossil fuel donors are benefiting

How Kelcy Warren, one of Trump’s biggest industry backers, and his pipeline firm are likely to flourish in his second termKelcy Warren was among the top donors for Donald Trump’s 2024 White House bid, personally pouring at least $5m into the campaign and co-hosting a fundraiser for the then presidential hopeful in Houston.Trump’s win appears to already be benefiting Warren and Energy Transfer Partners, the pipeline and energy firm of which he is co-founder, executive chair and primary shareholder. Continue reading...

Politics

48 h. ago 'Terrifying' incident on North Sea rig saw workers lowered into a flooded lift shaft

Ithaca Energy (UK) Limited pleaded guilty to safety failings at a hearing at Aberdeen Sheriff Court on June 12, and were issued with a £300,000 fine, the HSE said

Events

54 h. ago Fine issued after ‘terrifying’ incident on rig saw workers lowered into water

The incident occurred on the FPF-1 offshore platform, owned by Ithaca Energy (UK) Limited, during a night shift on December 10 2020.

Events

54 h. ago North Sea firm fined £300k after workers descended into water

The horrifying incident happened on a floating platform in the North Sea during a night shift.

Economics

64 h. ago World’s largest banks pledged $869bn to fossil fuel firms in 2024, new report finds

Two-thirds of the biggest 65 banks increased financing by $162bn from 2023 to 2024, walking back climate promisesThe world’s largest banks boosted the amount of financing given to fossil fuel companies last year, committing $869bn to those involved in coal, oil and gas despite the worsening climate crisis and the banks’ own, fraying, environmental commitments, a new report has found.The report, compiled by a coalition of eight green groups, shows that while the amount loaned by big banks to fossil fuel firms had been declining in 2021, last year saw an abrupt reversal. Two-thirds of the world’s largest 65 banks increased their fossil fuel financing by $162bn from 2023 to 2024. Continue reading...

Economics

3 d. ago Supreme Court to hear appeal from Chevron in landmark Louisiana coastal damage lawsuits

The Supreme Court will hear an appeal from Chevron, Exxon and other oil and gas companies that lawsuits seeking compensation for coastal land loss and environmental degradation in Louisiana should be heard in federal court

Events

5 d. ago Tories ‘got it wrong’ when they backed 2045 net zero target, Findlay says

The Scottish Conservatives had previoulsy supported the target of Scotland reaching net zero by 2045, but will now seek to ‘scrap’ it.

Events

5 d. ago Acorn carbon capture: The £18bn project that could protect 35000 jobs remains a pipedream

The key carbon capture project that could revitalise the North Sea economy in the net zero world, will still need final support from the UK government.

Economics

6 d. ago Oil prices jump after Israel’s attack on Iran and it could lead to higher gas costs

Iran is one of the world’s major producers of oil and if a wider war escalates, it could slow the flow of its oil to its U.S. customers

Politics

6 d. ago Kemi Badenoch calls for Windfall Tax on North Sea oil and gas to be scrapped as she tries to counter Reform surge in Scotland

Kemi Badenoch vowed to 'stand up' for the Scottish oil and gas industry - saying it might not exist in a few years unless the levy is removed.

Politics

6 d. ago Ed Miliband: We 'owe Scotland' over £200m Acorn project funds and 'unlimited' jobs potential

Ed Miliband has claimed there are “unlimited opportunities” for energy jobs in Labour’s vision for the North Sea.

Economics

6 d. ago Kemi Badenoch to call for end to energy windfall tax and oil licence ban

The Conservative leader will accuse Labour of “killing” the oil and gas industry

Politics

7 d. ago Fury as Kemi Badenoch 'shows she is on the side of oil and gas giants' with demands

Tory leader Kemi Badenoch will demand a windfall tax on profits is scrapped, and is set to call on the government to start issuing oil and gas licenses in the North Sea

Politics

7 d. ago Badenoch to call for end to oil and gas windfall tax and ban on new licences

She will speak at her first Scottish Conservative conference since taking over as Tory leader.

Politics