Britain's North Sea oil and gas sector is set to lose over 100,000 jobs, according to new data from Britain's Department for Energy Security and Net Zero.
The governing Labour Party’s ban on new oil and gas exploration licenses and continued windfall taxes are projected to decimate the workforce of Britain’s North Sea oil and gas sector. PULSE POINTS WHAT HAPPENED: Britain’s North Sea oil and gas sector is set to lose over 100,000 jobs, according to new data from Britain’s Department for Energy Security and Net Zero. DETAIL: According to data from the Department for Energy Security and Net Zero (DESNZ), Britain’s North Sea oil and gas sector will lose more than 113,000 positions over the next 25 years. This constitutes an 82.7 percent collapse in the workforce. The collapse stems from the governing Labour Party’s energy policies, such as the ban on new oil and gas…Open
BP's decision to sell its North Sea oil business underlines concerns over British energy policy and its impact on investment and jobs.
BP’s decision to sell its North Sea oil business underlines concerns over British energy policy and its impact on investment and jobs . PULSE POINTS WHAT HAPPENED: BP has announced plans to sell its North Sea oil business, which includes five production hubs and employs approximately 1,100 people. The company stated this decision aligns with its broader strategy to streamline operations and focus on higher-value opportunities, against a backdrop of punitive climate regulations and windfall taxes on the sector imposed the incumbent Labour and prior Conservative governments. DETAIL: BP’s North Sea assets, including Glen Lyon, Clair, and Clair Ridge, have been central to the British energy system for decades. However, political…Open
President Donald J. Trump has called for gas prices to return to $2.25 and accused major oil companies of price gouging.
President Donald J. Trump has accused major oil companies of price gouging as gas prices remain high despite the reopening of the Strait of Hormuz, sparking a Department of Justice investigation. PULSE POINTS WHAT HAPPENED: President Donald J. Trump has called for gas prices to return to $2.25 and accused major oil companies of price gouging. DETAIL: The price of gas has not been $2.25 since January 2, 2021. At present, the national average gas price is currently $3.92 per gallon, down from $4.51 a month ago but still significantly above the $2.98 average recorded before the Iran war, which began in late February. The President’s demand to lower the price of gas came on Wednesday amid questioning from reporters in the Oval Office.…Open
BP removed board chair Albert Manifold on Tuesday, citing "serious concerns" about "governance standards, oversight and conduct." Why it matters: BP has lost its CEO and now its board chair in the span of six months, the latest leadership turmoil for a company that has cycled through CEOs during its strategic pivot. - Manifold had been chair since October. - New CEO Meg O'Neill was appointed in December following the surprise resignation of Murray Auchincloss after roughly two years in the role. She took over in April. - Auchincloss took the reins in September 2023 after then-CEO Bernard Looney abruptly left amid a probe into his personal relationships within the company. Catch up quick: In recent years, BP has pivoted back toward its…
The British oil group said that Albert Manifold had been removed, after concerns were raised “related to important governance standards, oversight and conduct.”
Opponents of the project, known as Kaskida, say an accident could be even worse than the Deepwater Horizon spill. The company says it’s learned from the past.
State of the Union: The president said the U.S. is bombing Iran “back to the Stone Ages” as Tehran denies it requested a ceasefire. The post Iran War Enters 33rd Day: Trump Says No Ceasefire until Hormuz Reopened appeared first on The American Conservative .
The Iran War entered its 33rd day on Wednesday as President Donald Trump claimed that Iran’s president had requested a ceasefire but said the U.S. would not consider it unless the Strait of Hormuz was reopened, declaring in a Truth Social post: “Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!” On Tuesday afternoon, Bloomberg News had reported , citing IRNA news, that Iran’s President Masoud Pezeshkian had signaled a desire to end the war, running the headline “Iran President Says Ready to End War, Seeks Guarantees: IRNA.” Subsequent statements from Iranian officials contradicted those reports, with Iran’s Foreign Minister Abbas Aragchi telling Al Jazeera Tuesday evening that…Open
The state’s highest court said the cities of Baltimore and Annapolis and Anne Arundel County tried to use state and local nuisance laws to punish energy companies BP, ExxonMobil and Chevron.