Oil demand growing at slowest rate since height of pandemic, says IEA
The world’s demand for oil is growing at its slowest pace since the height of the Covid-19 pandemic, causing global market prices to slump...
Grangemouth oil refinery to close by end of June, putting 500 jobs at risk
The owners of the Grangemouth oil refinery have confirmed it will shut by the end of June next year, in a blow to Scotland’s...
UK imposes sanctions on 10 ships in crackdown on Russia’s shadow oil fleet
The UK has taken new steps to clamp down on Russia’s shadow fleet exporting oil and funding Moscow’s war machine, with the Foreign Office...
Brent crude tumbles below $70 per barrel as oversupply fears hit oil price – as it happened
Brent crude oil falls below $70/barrelNewsflash: The oil price has tumbled to its lowest level in over two and a half years.Brent crude, the...
BP extends use of AI in five-year deal with spy tech firm Palantir
The oil and gas supermajor BP is to use artificial intelligence to speed up the decision-making of its engineers, after signing a five-year deal...
Oil firms vow to fight judicial review of North Sea oil and gas projects
Two of Europe’s biggest oil companies have vowed to fight two legal cases brought by environmental campaigners against their plans to develop new oil...