OEUK urges early North Sea tax reset, puts £70 billion value on investment revival
September 11, 2026
Offshore Energies UK is calling on Chancellor John Healey to replace the Energy Profits Levy with the new Oil and Gas
Crude Oil
The North Sea: Beyond oil and gas
September 10, 2026
By Rob Ellinson, senior sustainability consultant and global energy sector lead at South Pole The North Sea is entering a period
BP brings Shell into Brazil and Gulf exploration prospects as deepwater push gathers pace
September 3, 2026
Shell will acquire 50% of BP’s Tupinambá exploration block offshore Brazil and 30% of the Conifer prospect in the US Gulf
US claims control over 65 billion Venezuelan barrels of oil, but delivery risks loom
September 1, 2026
Washington has secured extensive economic and governance rights over a company holding concessions to 17 Venezuelan oilfields. The headline reserve figure
No deadline for Rosebank and Jackdaw leaves North Sea investment in limbo
August 24, 2026
Consultations on Jackdaw and Rosebank closed on 10 and 17 August respectively, but ministers have set no timetable for a decision.
Ithaca moots Rosebank first production for H1 2027 – pending approval
August 20, 2026
Rosebank is expected to reach first production in the first half of 2027 – subject to renewed regulatory consent. Lower 2026
Rosebank consultation closes as defining North Sea decision moves to ministers
August 17, 2026
The final public consultation on Rosebank has closed, leaving OPRED to assess responses before ministers decide whether to reapprove the development.
BP awarded Loran Phase 2 licence as BP and Venezuela deepen offshore energy cooperation
August 14, 2026
BP and the Government of the Bolivarian Republic of Venezuela have signed agreements to advance offshore gas development, including the award
UK widens Russia sanctions as China turns to Russian crude
August 7, 2026
The UK has sanctioned 19 targets spanning Russian banks, shadow fleet tankers and companies supplying metals used in military equipment. Sinopec
Harbour Energy raises output and cash forecasts after record first half
August 7, 2026
First-half production reached a record 509,000 barrels of oil equivalent a day, prompting Harbour to lift its full-year guidance. The company
Recent News
Clean hydrogen investment passes $130 billion, but demand remains uncertain
September 11, 2026
The North Sea: Beyond oil and gas
September 10, 2026
