Allocation Round 8 to take first bids on 20 July
The UK government has announced that the next Contracts for Difference (CfD) auction, Allocation Round 8, will open for qualification bids on 20 July 2026 and close on 7 August 2026. This window allows developers… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Energy deals highlight a two‑track transition: LNG, E&P and offshore wind
Cheniere Energy Partners signed an agreement with Bechtel to design and build Train 7 and related infrastructure for the first phase of the Sabine Pass LNG expansion, expected to add over 6 million tonnes per year (mtpa) of capacity and reach final investment decision by early 2027. Chevron has requested to acquire a 70% stake in Block […]
Hormuz shutdown cripples global shipping and fuels energy security fears
Shipping through the Strait of Hormuz has collapsed by about 88%, with daily transit of crude, fuel and LNG carriers down from roughly 70 vessels pre‑war to fewer than six since March, according to Reuters.… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Sumitomo’s stake in UK batteries underscores appetite for energy storage
Sumitomo Corporation’s joint venture Summit Transition Partners (STP) is investing in up to five battery energy storage system (BESS) projects in the UK, totalling about 694 MW. STP will initially take a 25% stake in three… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
BP’s boardroom turmoil deepens: Albert Manifold ousted over governance and conduct concerns
BP has removed chairman Albert Manifold with immediate effect, citing serious concerns over governance standards and conduct. Manifold disputes BP’s version of events, saying he was removed without warning and would challenge what he called… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Wind and solar overtake gas for the first time in global electricity generation
Wind and solar generated 22% of global electricity in April 2026, while gas‑fired power supplied 20%. This is the first recorded month in which renewables outpaced gas on a global scale. The milestone reflects structural… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
OPEC+ to raise output quota by 188,000 bpd – but hike seen as mostly symbolic
OPEC+ leaders agreed to raise their collective output target for July by 188,000 barrels per day – the third consecutive monthly increase. Only seven countries will receive higher quotas, reflecting the still‑dominant role of core producers. Actual production is constrained by the closure of the Strait of Hormuz. Gulf states have lost about 9.9 million […]
OEUK calls emergency summit as Iran war reignites UK energy security debate
Offshore Energies UK has urged ministers to prioritise domestic energy production, including North Sea oil and gas alongside renewables, warning that dependence on imported fuels leaves the UK increasingly exposed to geopolitical shocks. OEUK says accelerating approval of Rosebank and Jackdaw and introducing the proposed Oil and Gas Price Mechanism could unlock £50 billion of […]
Global gas pricing entering ‘a new era’ of market-based trading dominance – IGU
The IGU says natural gas is evolving into a globally traded commodity, increasingly governed by market fundamentals rather than long-term oil-linked contracts. Gas-on-gas competition now determines almost half of global natural gas consumption, underscoring a two-decade shift away from oil-linked contracts and regulated pricing mechanisms. Global wholesale gas prices fell sharply in 2024, averaging $4.88/MMBtu […]
UK temporarily eases sanctions on Russian‑derived fuels amid supply crunch
Britain will continue to allow imports of diesel and jet fuel refined from Russian crude in third countries, postponing a ban announced in October 2025. Prime Minister Keir Starmer insists the measure is a phased approach, not a lifting of sanctions, and forms part of a broader package increasing pressure on Moscow. Critics, including Conservative and […]