Day-ahead natural gas prices in the U.K. and continental Europe continued to fall in June after reaching multi-year lows in May, according to data just released by Platts, a leading global energy, petrochemicals and metals information provider.
Scotland’s Central Belt is sitting on billions of barrels of shale oil and trillions of cubic feet of gas, an official survey has discovered.
Chinese investment in nuclear energy, high-speed rail and North Sea oil will be high on the diplomatic agenda when Chinese Premier Li Keqiang visits the U.K.
Lloyds Bank, part-owned by the British government, has withdrawn from a U.S. $1.5-$2 billion trade finance deal involving oil major Rosneft, in a development highlighting the growing unease among Western banks in funding Russian deals, Prime reported on June 4.
Marathon Oil is no longer looking to sell its UK offshore assets, it has been announced, BBC reported on June 2.
Marathon operates the Brae complex, and also has stakes in the East Brae and Braemar fields as well in the Foinaven project west of Shetland.
BP on April 29 announced its financial results for the first quarter of 2014. Underlying replacement cost profit for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013.
Ukraine is going to join the EU third energy package, Energy Minister Yury Prodan has told UK diplomats. The two sides discussed energy cooperation between Kiev and London and British assistance to Ukraine.
British net energy import dependency was 47.2 percent in 2013, the highest since 1975, due to falls in indigenous oil and gas production, said an energy report issued on March 27, Xinhua has reported.
Britain will begin this year to import gas from Russia under a formal contract for the first time, just as European calls to loosen Moscow's grip on energy supply mount because of the crisis over Ukraine, Reuters reported on March 21.
OMV is expanding its position in the UK core area, OMV’s press office said on March 19. Agreement has been reached with Hess to acquire four licenses in West of Shetland (WoS), UK, including the field Cambo and the Blackrock prospect.