Shell expands upstream strategy with $16bn acquisition of ARC Resources
Shell has agreed a $16bn deal to acquire ARC Resources, which will see the oil and gas major expanding its oil and gas production portfolio. The move signals continued confidence in the future of hydrocarbons. Inevitably, it also raises questions over the likely pace of the energy transition. Shell has agreed the $16.4bn acquisition of […]
BP profits surge as oil price spike boosts earnings
BP profits have more than doubled amid rising oil prices, with higher trading margins and volatility driving performance. The announcement is likely to reignite the debate over windfall taxes in the oil and gas sector. The surge in performance highlights the divergence between corporate profits and consumer costs. BP has reported a sharp increase in […]
UK economy faces £35bn hit from energy shock
Economists have warned of a £35bn GDP impact from the Middle East crisis, driven by higher energy prices and trade disruption. The economic shock highlights the UK’s exposure to global energy markets. Reinforces link between energy policy and economic stability The UK economy could face a £35bn hit over the next two years as a […]
UK orders refineries to maximise jet fuel production
The UK government has instructed refineries to boost jet fuel output in response to aviation fuel supply concerns. Reflects direct state intervention in energy markets. Highlights ongoing reliance on hydrocarbons. The UK government has instructed domestic refineries to maximise jet fuel production in response to supply concerns linked to escalating tensions in the Middle East. […]
UAE exits OPEC in major shift for oil market dynamics
The UAE has announced its departure from the OPEC production framework, reflecting dissatisfaction with quota constraints. The move weakens cohesion of global oil supply management. It is also likely to increase market volatility. The United Arab Emirates has announced it will leave the OPEC, in a move that could reshape global oil market dynamics and […]
World Bank warns of 24% surge in global energy prices
The World Bank has forecast a 24% rise in global energy prices in 2026, with the possibility that oil could reach $115/bbl in a prolonged disruption scenario. The outlook has been driven by escalating Middle East conflict and supply risks. Renewed inflationary pressure on global economies is a likely outcome. The World Bank has warned […]