Shanks tells AI sector it must help cut energy bills as data centre demand surges
Energy minister Michael Shanks has warned that public support for Britain’s AI expansion could weaken unless data centres deliver visible benefits for energy consumers. The government believes strategically located facilities could use renewable power that… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
BP prepares to close ventures arm as strategic reset hits emerging technology portfolio
BP has agreed to sell stakes in more than ten technology businesses to Verdane and is proposing to close BP Ventures. The move advances chief executive Meg O’Neill’s drive for a smaller, more disciplined company… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Trump rollback linked to $83 billion of stalled US clean energy investment
A labour environment coalition has identified 223 cancelled or delayed clean energy, manufacturing and industrial projects in the US, representing at least $82.8bn of planned capital. The figures are not a measure of money already… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
CBI and Energy UK urge levy shift to unlock £130bn of growth, but fiscal bill remains
The CBI and Energy UK want the Renewables Obligation, Feed-in Tariff and electricity Climate Change Levy removed from business bills. Their package could cut energy costs by as much as 20% for some companies and,… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
BP flags higher Q2 earnings as oil rally drives sharp debt reduction
BP expects higher oil and gas prices, stronger refining margins and another robust oil trading performance to lift Q2 earnings. Upstream production is forecast to fall by as much as 7% from Q1 because of… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
UK flexibility policy to address economics, not just technology
The government will seek powers to remove consumption levies that can make it cheaper to curtail renewable electricity than use it flexibly. Ministers will consider linking publicly supported heat pumps, batteries and solar systems to… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Shell greenlights Bahamas LNG terminal after years of delay
Shell has taken a final investment decision on a small-scale LNG import terminal at Clifton Pier and acquired 40% of project company New Providence Gas. The facility will give Shell a long-term outlet for its… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
UK introduces successor to windfall tax, proposes permanent price-triggered levy
The new Oil and Gas Revenue Levy will charge 35% on sales revenue realised above indexed oil and gas price thresholds. It will replace the Energy Profits Levy by April 2030, or earlier if the… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Europe enters summer peak with less than a month of jet fuel
European jet fuel inventories provide less than 30 days of demand cover, the tightest position among the major consuming regions. Britain is particularly exposed following the Grangemouth and Lindsey refinery closures. The vulnerability lies in… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Air-to-air heat pumps could tackle heating and overheating – but hot water remains a barrier
Government-commissioned modelling found reversible air-to-air heat pumps could provide efficient space heating and effective cooling across a range of British housing types. Combined space-heating efficiency ranged from about 2.5 units to four units of useful… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]