Major analysts have suggested that due to China’s recovery from years of Covid lockdowns, the price of oil may rise to nearly $90 a barrel this year.
Workers in the oil and gas industry in the North Sea have decided to vote to strike
Oil and gas operators in the North Sea have been cautioned about the possibility of an overwhelming wave of industrial turmoil after workers voted in favour of a strike over
Russia’s oil export revenue sank by 42% in February as sanctions bit
Western nations implemented far-reaching sanctions against Russian crude oil and oil products as a measure to reduce Russia’s oil revenues.
In a year marked by sanctions, Russia accumulated an offshore cash reserve of $80 billion
Amid the ongoing sanctions and amid the US and its allies’ efforts to tighten them over the invasion of Ukraine, Russia has managed to stash roughly one-third of its $227
Russia’s deficit leaps to £29bn as Putin keeps on spending
The first two months of the year saw a rise in Russia’s budget deficit due to a decline in oil and gas revenues and sanctions imposed as a result of
The UK’s Supreme Court is set to consider a landmark case regarding sewage in the country’s waterways.
On Monday, one of the UK’s largest privatised water companies will argue in the Supreme Court that it should not be held responsible by private landowners and individuals for sewage
Although Russian energy revenues have improved, they are still only at 50% of the monthly average.
Last month, Russia experienced a 20% increase in energy revenues due to a taxation adjustment, rather than a surge in exports.
Energy providers prepare for Jeremy Hunt to extend bill support
Jeremy Hunt is expected to extend the government’s energy price guarantee at its current level for three more months, preventing household bills from increasing by an average of £500 from
The Bank of England governor, Andrew Bailey, has signalled interest rates may have peaked
Andrew Bailey, the governor of the Bank of England, has suggested that interest rates might have reached their highest point, following 10 consecutive hikes in the official borrowing cost since
The oil and gas sector in the UK has raised concerns that the imposition of windfall taxes is discouraging investment in the industry
According to the trade body of the UK oil and gas industry, Offshore Energies UK, companies in the sector are reducing their operations in the North Sea and prioritizing investment
UK Energy bills to rise by £500 under Ofgem price cap
Starting from April, Ofgem is reducing the maximum amount energy suppliers can charge consumers by almost £1,000. The regulator has cut the price cap to £3,280 from the current £4,279