BP puts UK North Sea business up for sale after six decades
BP has launched a formal process to sell its UK North Sea oil and gas business, potentially ending more than 60 years as an offshore producer in its home market. The portfolio employs around 1,100… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Shell sells Aphrodite gas stake to MOL for up to $720 million
Shell has agreed to sell its 35% interest in Cyprus’s Aphrodite gas field to MOL Group for up to $720m. The project remains pre-FID, with the latest timetable pointing to a decision in 2028 and… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
BP plans 700 job cuts as O’Neill flattens upstream structure
BP is proposing to remove around 700 non-frontline production and operations roles, according to a leaked internal email. The reductions would affect about 8% of 8,500 positions, while operators, technicians and maintenance teams are expected… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
UK energy production falls to record low despite renewable growth
Domestic energy production fell to 94.5 million tonnes of oil equivalent in 2025, 68% below its 1999 peak. Renewables supplied a record 52.1% of UK electricity, but fossil fuels still met 75.1% of total primary energy consumption. Industrial energy use dropped to its lowest level in at least 50 years, raising questions about how much […]
Bank of England holds rates as energy shock divides policymakers
The Bank of England held its base rate at 3.75%, but three of nine policymakers voted for an increase to 4%. Inflation is expected to rise from 2.6% to 3.2% later this year, with the outlook heavily dependent on oil and gas prices. Prolonged monetary tightening would raise financing costs across capital-intensive energy projects, even […]
Nuclear industry says annual investment must exceed $250 billion to meet expansion plans
The World Nuclear Association estimates that approximately $6 trillion will be required across the nuclear value chain by 2050. Annual investment would need to rise from around $75 billion to more than $250 billion to support the ambition of at least tripling global capacity. The figures reflect an industry growth scenario rather than a settled […]