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Stifel projects that the UK’s oil and gas output would halve by 2030. File | Photo Credit: Reuters North Sea oil and gas producers are merging and shifting overseas as Britain’s windfall tax slashes profits and as the Opposition Labour Party threatens more tax if it wins the next general election. The change of strategy…
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The story so far: Angering enivronmental activists across United Kingdom (U.K), the British government okayed one of the country’s biggest new oil and gas projects —the North Sea Rosebank field— on September 27. The Rishi Sunak government claims that the project was essential for securing the nation’s energy demands. The move comes mere days after…
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File photo of a section of the BP Eastern Trough Area Project oil platform in the North Sea, around 100 miles east of Aberdeen, Scotland. | Photo Credit: AFP The story so far: U.K. Prime Minister Rishi Sunak recently backed plans for new fossil fuel drilling off Britain’s coast, worrying environment experts even as the…
Read More “Explained | Drilling in the North Sea — history and environmental concerns” »