Standing outside the Supreme Court on Wednesday 21st June, Sarah Finch discussed the beginning of a hearing that could have profound consequences for fossil fuel extraction in the UK. Leading Weald Action Group, Finch has challenged Surrey County Council’s decision to grant planning permission on an oil drilling project that could see up to 3
A shadow minister has insisted the Labour party disagrees with Just Stop Oil’s tactics, despite welcoming donations from their financial backer Dale Vince. Mr Vince, who set up Ecotricity and is chairman of Forest Green Rovers, has donated roughly £1.5m to the Labour Party in the past decade, » Read More
Saudi Aramco is increasing its capital investment budget for 2022 to around $45 billion, compared to analysts’ consensus expectations of around $36 billion, as it recycles higher profits into efforts… The post Western oil majors yet to ramp up capex despite higher crude prices appeared first on London Business News | Londonlovesbusiness.com.
Oil demand will not fall until prices reach a staggering $160 a barrel, according to an expert in the sector. Dr Amrita Sen, director of research at Energy Aspects, says despite record fuel prices, the cost of oil is “inelastic” and would need to skyrocket to affect demand. Dr Sen was giving evidence to a…
In an inspirational and moving speech to UK MPs yesterday, Ukrainian President Volodymyr Zelensky invoked Shakespeare by asking: “To be or not to be? Now I can give you a definitive… The post Are we hurtling towards a global recession? appeared first on London Business News | Londonlovesbusiness.com.
Brent crude, the global oil benchmark, went above $105 a barrel for the first time since August 2014 due to tensions in Russia and Ukraine. It is now at $104.50… The post Oil skyrockets while Russian stocks plummet amid tensions appeared first on London Business News | Londonlovesbusiness.com.
Downing Street says the government’s position on a windfall tax for energy companies remains unchanged, despite a huge surge in profits for energy giants BP and Shell in recent days. In this morning’s Downing Street lobby briefing, the prime minister’s spokesperson said he “wasn’t aware in a change of position” on a windfall tax, despite…
While it is a surge in profits from both oil and gas that continues to grab the headlines at BP and Shell, the real secret to their share price success… The post Falling debt helps to explain rising share price at BP and Shell appeared first on London Business News | Londonlovesbusiness.com.
Calls for a windfall tax on those oil and gas giants are likely to get louder following the latest financial update from London based Shell. It’s profits for the last… The post Why big oil is under pressure as consumers eye energy price hikes appeared first on London Business News | Londonlovesbusiness.com.
Having yesterday reached heights not seen in more than two years, the FTSE 100 was under pressure on Tuesday. A rise in oil prices to a seven-year high and a… The post Inflation concerns return with oil at a seven-year high appeared first on London Business News | Londonlovesbusiness.com.
