ISSN 2753-7757 (Online)

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Oil and gas

Oil rig silhouette set against orange sunset

1/6/2022 News

Oil and gas windfall tax to help fund UK government’s cost of living support package

The UK Chancellor of the Exchequer has unveiled a new $15bn package of targeted government support to help with the rising cost of living for millions of households across the country. A windfall tax on oil and gas companies is to help pay for the package.

Coal

Coal piled high in container

14/12/2022 News

Government approves first new UK deep coal mine in three decades

The UK government has given the green light for a proposed new mine in Whitehaven, Cumbria, which would extract coking coal both for steel production in the UK and for export to Europe and would become the UK’s first new deep coal mine in 30 years. Yet the move was lambasted by environmental campaigners and climate change experts as being a retrograde step.

Decommissioning

The Brent Charlie platform at quayside

27/11/2024 News

New decom initiatives aim to speed up UKCS 2023 slowdown

A new report from Offshore Energy UK (OEUK) and a North Sea Transition Authority (NSTA) database focus on decommissioning oil and gas assets in the UK North Sea, while new guidelines for the removal of offshore wind turbines have also been published.

Oil and gas

Seismic vessel at sea

14/9/2022 News

Global oil and gas exploration shrinks as companies shift focus

Global oil and gas exploration is set to falter this year as the number of licensed blocks and total acreage fall to near all-time lows as the sector struggles to shake off the effects of the COVID-19 pandemic and the ensuing oil market crash, and as the focus shifts to lower-risk core assets and a low carbon future, according to the latest analysis from Rystad Energy.

Oil and gas

Head and shoulders photo of Dr Slawomir Raszewski, Senior Lecturer, Royal Docks School of Business and Law, University of East London

21/9/2022 Comment / Slawomir Raszewski

How does North Sea offshore production help meet current energy objectives?

The UK’s indigenous oil and gas resources should be seen as an enabler of the energy transition, writes Dr Slawomir Raszewski, Senior Lecturer, Royal Docks School of Business and Law, University of East London.

Oil and gas

Oseberg offshore platform

1/2/2023 News

Norwegian tax break will increase gas and oil supply to Europe

The energy crisis in Europe triggered by the ongoing war between Russia and Ukraine has left the continent short of hydrocarbon supplies and increasingly reliant on LNG imports. However, Norway is expected to increase oil and gas supplies to Europe following a record-breaking sanctioning boom on the Norwegian Continental Shelf (NCS), reports Rystad Energy.

Innovation

Aerial view of factory

5/11/2025 News

Innovations save energy across oil and gas, wind power and battery storage

Three cutting-edge innovations are saving money and energy in enhanced oil recovery (EOR), small wind turbines and battery energy storage systems (BESS).

Oil and gas

Head and shoulders photo of Michael Tholen

8/10/2025 Comment / Michael Tholen

Policy, not geology, will decide the North Sea’s future

Although North Sea oil and gas is in a natural decline, premature closure of existing infrastructure makes no sense on several grounds, argues Michael Tholen, Director of Policy and Sustainability with Offshore Energies UK (OEUK).

Oil and gas

Artist's graphic of nodding donkeys set against a financial graph

16/8/2023 News

Declining supermajor profits reveal flaws in the oil and gas business model

Many oil and gas supermajors have reported falling revenues and slimmer profits for 2Q2023, stemming from a decline in global oil and gas prices. These financial results highlight flaws in the oil and gas business model, says the Institute for Energy Economics and Financial Analysis (IEEFA). Meanwhile, the estimated cost of decommissioning North Sea oil and gas infrastructure has risen to £40bn, says the North Sea Transition Authority (NSTA).

Energy prices

Close up of gas burner with blue flames

11/1/2023 News

EU finally agrees deal on gas price cap

European Union (EU) energy ministers finally agreed last month on a temporary mechanism to limit excessive gas prices, which sky-rocketed following Russia’s incursion into Ukraine in early 2022. Meanwhile, Russia announced that it would ban oil exports to countries imposing the oil price cap agreed in December by the EU, G7 nations and Australia.

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