UK energy prices rise 10% due to extreme weather and geopolitics
The British energy regulator Ofgem raised the price cap for household energy bills on Friday by 10%, from October 1, to a level of 2,250.64 pounds per year. This increase was blamed on extreme weather conditions and conflicts like the war in Ukraine.
Canadian Natural Resources eyes Rail Contracts
Canadian Natural Resources, the country's biggest oil and gas producer, is looking at taking on the Alberta provincial government's contracts to move crude by rail, a senior company executive said on Thursday.Shipping more crude by rail is seen as critical…
Suncor Q1 profit beats estimates
Canada's Suncor Energy Inc reported a profit on Wednesday that beat analysts' estimates as the integrated oil producer reaped the benefits of improved Canadian heavy crude pricing due to Alberta's production curtailments.The government's mandated cuts…
BP Names Former Statoil Boss Lund as Next Chairman
BP named Helge Lund, a former head of Norway's Statoil, as its next chairman on Thursday, as the British oil major looks to extend a period of rapid growth after recovering from a deadly oil spill in 2010.Lund, who also led BG Group during its acquisition by rival Royal Dutch Shell…
Hardy Takes Over as Vitol CEO
Ian Taylor, who helped build Vitol into the world's biggest oil trader, will step down as chief executive and continue as chairman, the company said on Friday, naming a long-time ally and insider, Russell Hardy, as the new group CEO. Taylor said two…
Norway's Labour Calls for Debate on Oil Tax Regime
Norway should review its generous tax regime on oil drilling because of climate change, the opposition Labour party said on Monday, three weeks before a parliamentary election which opinion polls suggest it is on course to win. Labour's Marianne Marthinsen…
UK Conservatives Support Shale Energy
Britain's Conservative Party will introduce legislation to support shale energy development and impose a household energy tariff cap if it is re-elected in June, its election policy document showed on Thursday. The Conservative government pledged last month to cap standard variable tariffs…
Norway Replaces Oil, Justice, EU Ministers Ahead of Election Year
Norway's right-wing government replaced cabinet ministers for oil and energy, European Union affairs and justice on Tuesday in a reshuffle nine months before the next general election. Oil Minister Tord Lien will leave in favour of Terje Soeviknes, a popular small-town mayor…
UK Prosecutor Drops Somali Corruption Inquiry into Soma Oil
UK prosecutors have closed a 17-month investigation into alleged bribery and corruption at Soma Oil & Gas, a private UK exploration company seeking oil in Somalia, despite finding "reasonable grounds" to suspect wrongdoing. The Serious Fraud Office (SFO)…
Vitol Chief who Opposed Brexit says Weak Pound Helps Costs
The head of energy trader Vitol who helped fund the unsuccessful campaign to keep Britain in the European Union said on Monday the pound's demise since the Brexit vote has helped to lower costs for his London offices. Ian Taylor, who is also a donor to the ruling Conservative Party…
Brexit Uncertainty Weighs on Commodities, Gold
But for how long? Amid the horror for many, the elation for others and the shock for virtually everybody of the British vote to exit the European Union, perhaps the most measured and predictable response was from commodity markets. As it became clear…
IPO Proposed for Norway's Statkraft
Norway should partially privatise state-owned power producer Statkraft and list it on the stock market, a key member of the country's ruling Conservative Party proposed on Tuesday. An initial public offering would attract cash for additional foreign…
Norway Should Give Incentives for Tail-end Oil Production -Exxon
Norway should give companies fiscal incentives to continue production from maturing oilfields in the North Sea as investment falls, Exxon Mobil Production Vice President John Chaplin said on Wednesday. Unlike many other oil and gas producers, Norway…
Kerry: Canada Election Won't Impact U.S. Keystone Policy
U.S. Secretary of State John Kerry said Tuesday that the ousting of the ruling Conservative Party in Canada's election will not affect his decision on whether to approve the controversial Keystone XL pipeline between the two countries. Election victor…
Statoil Appoints Media Relations Head
Bård Glad Pedersen has been appointed vice president media relations in Statoil. Glad Pedersen will as vice president media relations head the corporate press office and take on the role as corporate spokesperson. He succeeds Jannik Lindbæk jr, who…
Britain's New Government to Kick-Start Shale
Britain's new Conservative government could take control of planning decisions to speed up the development of shale gas and prevent investor money from drying up, lawyers say. Britain is estimated to have enough shale gas trapped below its surface to meet its gas needs for decades.
Cameron Taps Rudd as UK Energy Secretary
British Prime Minister David Cameron has named Amber Rudd, one of the lesser known names from his party, as energy minister to tackle such controversial issues as government support for onshore wind farms and shale gas. Rudd, a former investment banker…
Oil on Verge of Weekly Decline
China's monthly crude imports up 13 pct on month; stronger oil could revive U.S. shale production. Crude oil prices edged higher on Friday, set for their first weekly decline in more than a month as strong Chinese crude imports eased concerns over a growing supply glut.
Coriolis Energy, ESB to Develop UK Wind Farms
Coriolis Energy and Ireland's Electricity Supply Board (ESB) have agreed to jointly develop nine onshore wind farms across Britain capable of generating enough electricity to power 225,000 homes, they said on Tuesday. The nine projects would have a combined capacity of around 400 megawatts (MW)…
Alberta's NDP Rookies Scramble to Govern
The election victory by the New Democratic Party (NDP) on Tuesday will deliver one of the most inexperienced parties ever to take office in Canada. The party previously held just four of 87 seats in the legislature and only a few of its 53 new lawmakers have ever held public office.
