Tag: energy

July 9, 2024

BP CEO Murray Auchincloss says the group has stopped bidding on new offshore wind projects in order to simplify operations and reduce costs, says Emma Powell in The Times. At the same time, BP will spend more on new oil and gas assets, particularly […]

June 20, 2024

New York is launching a program offering homeowners up to $14,000 in total rebates for energy-efficiency upgrades to their property, and more states are expected to follow suit by summer’s end. The rebate programs are part of the federal Inflation Reduction Act, the […]

June 3, 2024

Brent crude fell by more than 3% on Monday – to just below $78 a barrel at one stage – on market speculation that major oil producing countries in the Opec+ group, which includes Russia and Saudi Arabia, were set […]

June 3, 2024

OPEC+ EXTENDS PRODUCTION CUTS INTO 2025 – VOLUNTARY CUTS TO BE WOUND DOWN FROM OCTOBER The Organisation for Petroleum Exporting Countries and its allies, otherwise known as OPEC +, decided to extend their existing production cuts when officials met on […]

May 31, 2024

At an event in Scotland – and joined by Scottish Labour leader Anas Sarwar – the prime ministerial hopeful will reiterate his plans for Great British Energy, first announced at the party’s conference in 2022. Headquartered north of the border, […]

May 15, 2024

US Crude oil prices failed to hold on to early gains in Europe on Wednesday but the market’s recent range held firm. Energy markets had found support into the open thanks to data released in the previous session showing a […]

May 2, 2024

Shell’s SHEL 2.13%increase; green up pointing triangle first-quarter adjusted earnings fell by less than expected, buoyed by a strong performance by its integrated gas division and kicked off a $3.5 billion share buyback program to close the valuation gap between […]

March 25, 2024

Ofgem has launched a review into the future of the energy price cap in a bid to ensure it continues to protect consumers in the net zero age. The energy regulator said the move towards renewable energy sources, use of […]

June 28, 2023

Jeremy Hunt brought in the regulators for the energy (Ofgem), water (Ofwat) and telecoms (Ofcom) sectors, along with the Competition and Markets Authority (CMA) and City watchdog the Financial Conduct Authority (FCA). The Treasury said the FCA would report by […]

May 19, 2023

Ahead of the industry regulator’s determination on the price cap level due next week, energy research specialist Cornwall Insight said it saw the cap for a typical household at the equivalent of £2,053 per year from July-September. That was down […]

March 10, 2023

Crude Oil faced renewed selling pressure this morning in what has been a difficult week for the commodity. This followed a positive start to the week as WTI by broke above the 100-day MA for the first time since November […]

March 7, 2023

Crude oil is looking for its 6th consecutive positive day this Tuesday which has gathered steam from positivity around the Chinese economy. Although China revised growth forecasts (GDP) higher to 5% after a roughly 3% last year, markets were expecting […]

March 3, 2023

Sky News understands the chancellor will cancel a reduction in support that would have seen typical annual bills rise from £2,500 to £3,000. In recent days, the government has asked energy suppliers to prepare for both scenarios, fuelling a widespread […]

February 28, 2023

The sharp rebound in natural gas in recent days is a sign that bears are getting exhausted. However, it may be premature to assume that the worst is over. Natural gas fell to a 2.5-year low last week before rebounding […]

February 24, 2023

Six months ago, Cornwall Insight, a consultancy that nobody had previously heard of, was forecasting that the energy price cap would reach £6,616 per year. Mainstream media accepted that without question. In fact, the price cap was set at £2,500 […]

February 20, 2023

Natural gas prices continued a broader losing streak since the summer of 2022 last week. Following a brief pause on the week of February 6th, the commodity fell 9.5% over the past 5 trading sessions. Prices also confirmed a breakout […]

February 14, 2023

The energy regulator, Ofgem, will announce its energy price cap for April to June later this month, 27 February. Although your household bills are currently determined by the government’s Energy Price Guarantee (EPG), Ofgem continues to set a quarterly price […]

February 14, 2023

Brent crude oil is bid this morning finding support from a weaker U.S. dollar which will likely be the main driver of market pricing today. From a crude oil perspective, OPEC is scheduled to release its monthly market report later […]

February 8, 2023

Crude oil has held onto overnight gains with the WTI futures contract trading above 77 U.S. Dollars and the Brent contract is trading over 83.50 U.S. Dollars. Risk assets were generally buoyed going into the Asian session by the perception […]

February 3, 2023

European Union governments tentatively agreed Friday to set a $100-per-barrel price cap on sales of Russian diesel to coincide with an EU embargo on the fuel — steps aimed at ending the bloc’s energy dependence on Russia and limiting the […]