OEUK urges early North Sea tax reset, puts £70 billion value on investment revival
Offshore Energies UK is calling on Chancellor John Healey to replace the Energy Profits Levy with the new Oil and Gas Revenue Levy from January 2027, more than three years earlier than currently planned. The industry body estimates fiscal reform could unlock £50bn of additional capital investment, generate £70bn of economic value and support an […]
Clean hydrogen investment passes $130 billion, but demand remains uncertain
Cumulative committed investment in clean hydrogen has reached $130 billion across 579 projects, according to the Hydrogen Council. Those projects represent 6.9 million tonnes a year of production capacity, although only 1.7 million tonnes is… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Shell sells 609 MW US gas plant while buying smaller Pennsylvania asset
Shell has agreed to sell its interests in the 609 MW Rhode Island State Energy Center to Constellation Energy for $715 million. In a separate transaction, Shell will acquire 100% of Hunlock Creek Generating, which… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
OPEC cuts 2026 oil demand forecast again as IEA predicts outright contraction
OPEC now expects global oil demand to grow by just 380,000 barrels a day in 2026, its fifth consecutive downgrade. The International Energy Agency is considerably more bearish, forecasting a 2.5 million barrel/day fall as high prices suppress consumption. Both organisations expect a strong 2027 rebound, suggesting crisis-driven demand destruction rather than an uncontested arrival […]
ECB rate rise compounds financing squeeze on UK energy investment
The European Central Bank has raised its deposit rate by 25 basis points to 2.5% after eurozone inflation reached 3.3% in August. UK borrowing costs rose in parallel, with ten-year gilt yields hitting 5.378% and 30-year yields approaching 6%. The combination of expensive energy and expensive capital presents a particular problem for renewables, nuclear power, […]