British multinational oil and gas company, London-based, dual-listed
Adura’s Jackdaw gas field is undergoing a final public consultation after a court overturned ministerial consent. The 159‑page Environmental Impact Assessment says the project would contribute less than 0.02% of global greenhouse gases over its lifetime and could meet a portion of the UK’s gas needs this winter, while opponents warn it will have little impact on bills or energy security.
Oil prices remain near multi-week highs as tensions surrounding the Strait of Hormuz escalate. The US has reimposed a naval blockade on Iran, Iran warns it will respond, and analysts expect intermittent supply disruptions to keep prices elevated in coming quarters.
Oil prices have risen this week after U.S. officials narrowed a waiver to the Jones Act for energy shipments and data showed U.S. crude stocks have fallen to multi-decade lows. Traders are parsing mixed statements from Washington and Tehran about talks to reopen the Strait of Hormuz while reparations demands have emerged, keeping markets volatile on 11 Aug 2026.
Energy majors have reported bumper profits as Middle East conflict drives oil and gas prices higher. ExxonMobil, Chevron, and Shell show sharp year‑over‑year gains amid volatile supply routes, while traders warn against overreliance on geopolitics for long‑term gains.
BP has announced it is marketing its North Sea business for sale as part of a portfolio simplification. The unit comprises five hubs and about 1,100 staff. The move follows political and policy debates on North Sea drilling and energy funding, with potential proceeds around £2 billion. BP is seeking an owner to back the next chapter of a Slimmed-down BP while focusing on higher-value opportunities.
Oil prices rise as talks over reopening the Strait of Hormuz remain unsettled. Brent nears $90, and U.S. inventories stay tight amid ongoing tensions and political maneuvering.
Oil prices have risen amid renewed tensions as talks over reopening the Strait of Hormuz face a stalemate. Iran demands compensation and sanctions relief, while US pressures persist. Brent near $90 and US crude around $82, with market participants watching for any breakthrough.
Energy Secretary is preparing to recommend approval for the Jackdaw gas field and the Rosebank oil field after consultations, continuing the North Sea program to support jobs and energy security while facing climate concerns.
Britain’s leadership is framing a growth-and-devolution agenda ahead of the October budget, with business leaders and economists warning that higher energy costs and borrowing rates could constrain options. The government emphasizes a partner-for-growth approach, pledging to empower local leaders and reduce business costs while navigating a tighter fiscal path.
LNG Canada has formalized a final investment decision to expand its Kitimat facility to 28 million metric tons per year, building two processing units, an extra storage tank, and a new loading berth. The project is led by partners Shell, Petronas, PetroChina, Mitsubishi, and KOGAS. The expansion will boost regional jobs and support infrastructure, including a major Coastal GasLink upgrade.