North Sea operator EnQuest (LON:ENQ) posted a slight loss in its 2023 full year financial results, reflecting the impact of the UK government's windfall tax on oil and gas firms.
Just as they first ventured to do over a century ago, the world’s largest oil companies are staking claims far from home — this time to swallow, rather than spew, planet-warming industrial emissions.
Europe’s largest economy is running a €23 billion ($24.9 billion) experiment to reach net zero by 2045 without destroying its energy-intensive industrial base.
China’s wind turbine manufacturers dominated global supply last year, riding the nation’s renewables installation boom as a contraction in the US and meager growth in Europe dented overseas competitors.
Electricity demand from UK data centers will jump sixfold over the next 10 years as a boom in artificial intelligence requires increased computing power, according to the head of National Grid Plc.
The Biden administration approved Orsted A/S’s (CPH: ORSTED) plans to build a nearly 1-gigawatt offshore wind farm near a popular Massachusetts vacation destination, setting the stage for the massive project to begin supplying power to New York in 2026.
The Chief Executive of Centrica Plc (LON:CNA) got a bumper pay raise last year while millions of households across the country struggled with energy debt.
The North Sea Transition Authority (NSTA) has pushed ahead with plans to require developers to electrify their oil and gas assets, with operators voicing concern it could drive away investment.
Aberdeen-based energy storage specialist Verlume has teamed up with Swedish vertical-axis wind turbine developer SeaTwirl to electrify offshore oil and gas assets and decarbonise the oil and gas industry.
UK Prime Minister Rishi Sunak is committing hundreds of millions of pounds over the next decade to Britain’s nuclear deterrent and energy infrastructure as part of a “critical national endeavour” to safeguard the industry and protect the country.
MSPs are demanding the Scottish Government provide “clarity” over the future of a fund set up to help the north east refocus its economy on greener alternatives to oil and gas.
Norway is pushing back its timeline for a move into offshore floating wind parks as it deals with queries from the European Free Trade Association Surveillance Authority over state support for potential projects.
By Franziska Weiss, Vice President Market & Business Development Europe, Siemens Energy
The European Union continues to race towards a sustainable future, competing most closely against North America and Asia to become the world's first climate-neutral continent by 2050.
OEG Renewables business Hughes Subsea will undertake unexploded ordnance (UXO) identification and clearance for ScottishPower Renewables’ 1.4GW East Anglia Three offshore wind farm.