London’s mayor Sadiq Khan expects the UK’s capital population to reach 10.5 million by 2041, but the increasing energy demand to accompany such growth won’t be met by domestically produced shale oil and gas, he said last week.
The UK government said on Wednesday it has closed a loophole in legislation concerning onshore oil and gas exploration through hydraulic fracturing with a new Direction presented to the Parliament, Kallanish Energy reports.
UK’s Chancellor Philip Hammond unveiled on Wednesday the country’s autumn budget, leaving investors with ongoing uncertainties as little clarity was given on energy matters, Kallanish Energy reports.
British oil major BP announced on Tuesday it’s selling a package of its interests in the Bruce assets in the North Sea to London-based Serica Energy for a total of £300 million ($397.3 million), Kallanish Energy reports.
Portugal has confirmed it will close its two remaining coal-fired power plants before 2030, phasing out electricity generation from the so-called dirty fossil fuel, as the country joins the UK and Canada in a bid to spread international action against carbon emissions.
The world’s largest oil company, Saudi Aramco, expects to increase its capital spending budget by nearly 10% in its next financial year, senior vice president of technical services Ahmad al-Sa’adi said on Thursday.
Oil crude and condensate production in the North Sea will remain virtually stable at under 2.9 million barrels per day (MMBPD) from 2017 to 2018, before declining marginally in 2019, a consultancy firm said on Tuesday.
Energy prices in the UK are “too high” and in fact, “significantly higher than it needs to be” to meet the carbon budgets and the country’s climate change targets, according to an independent review published last week by Oxford University professor Dieter Helm.