Davey: fossil fuel price spikes could be halved by climate policy

The Energy Secretary set up the case for climate change policies today by suggesting they could dramatically cut the impact of fossil fuel price spikes on ordinary households. His comments come days before the draft Energy Bill is to be unveiled by the Government. It is expected to lay out significant spending on nuclear power, […]

High oil prices expected to stay

Oil prices are expected to remain high due to the nature of the supply issues the industry faces. Despite OPEC’s oil output rising to 30.89 million barrels per day, the highest in more than three years according to the International Energy Association, an array of geopolitical events are keeping prices high. Caroline Bain, Commodities Industry […]

Looking back on 2011

So tomorrow marks the end of a momentous year in the energy sector. In 2011 we have had the publication of two major pieces of legislation, the Electricity Market Reform act as part of a new Energy Bill due to be published next Spring and just a month ago the biggest reform of the water […]

Heritage insists Libyan deal is still on

Heritage Oil has countered claims that its purchase of a Libyan oil firm did not take place, blaming “crossed wires” for the confusion. Yesterday the UK firm announced that it had bought a 51% stake in Sahara Oil Services Holdings, but an official from Libya’s National Oil Company (NOC) told Reuters today that it was […]

UK firm lunges for Libyan oil

Explorer and producer Heritage Oil has bought a 51% interest in the Sahara Oil Services Holdings Limited which could give it access to Libyan oil fields. SOSH owns the Benghazi-based Sahara Oil Services, which holds long-term licences to work on oil fields in Libya, for both onshore and offshore drilling. As the Middle Eastern country […]