Election
UK General Election: what you need to know about the oil and gas windfall tax
As the UK heads toward general elections, party manifestos have revealed some stark differences in energy policies such as the windfall tax.
Category: Oil and Gas
- Home
- Category: Oil and Gas
Hydrogen
Gap between US energy production and consumption now biggest ever
US energy production outpaced consumption by nine quadrillion British thermal units in 2023, according to EIA analysis.
Energy Prices
UK households should cut energy imports by 80% to stabilise costs – report
A new report has suggested that UK households could cut energy imports by 80% through certain measures,
Industry News
Fire rages for second day at Russian oil depot hit by drones
A fire has been raging at an oil depot in Azov, in Russia’s southern region of Rostov, after an alleged Ukrainian drone attack.
IEA
Russia exceeds OPEC+ May output target, vows to get back in line
Russia has promised to meet its OPEC+ oil production targets in June, after pumping too much oil in May and exceeding the body’s limits.
Energy Prices
Global oil markets likely to face large supply deficits soon, says report
Despite expected production increases, global oil markets are likely to face a supply deficit as 2024 progresses, continuing into 2025.
EU
EU ponders sanctions for Russian shipping giant Sovcomflot
The EU is considering sanctions on Russian shipping giant Sovcomflot, to limit the country’s oil-based revenue as its war with Ukraine rages
Industry News
Russia sees oil and gas revenue rise sharply in January–May
Russia reported oil and gas budget revenues jumped by over 73% in the January-May 2024 period, when compared to the same time last year.
BP
No more North Sea oil and gas licences, says former BP boss
The UK should “call a halt” to North Sea oils and gas exploration, and not grant any more licences, says former BP head John Browne.