Latest news with #BritishEnergy
Wall Street Journal
11-07-2025
- Business
- Wall Street Journal
BP Warns of Up to $1.5 Billion Impairment, Earnings Hit From Lower Prices
BP BP 1.11%increase; green up pointing triangle said it expects to book up to $1.5 billion in after-tax impairments across its portfolio while lower gas and oil prices will drag on its results. The British energy major said Friday that it anticipates $500 million to $1.5 billion in after-tax impairment charges. These charges are considered adjusting items and will be excluded from its underlying replacement cost profit, a key earnings metric.
Wall Street Journal
07-07-2025
- Business
- Wall Street Journal
Shell Expects Production to Fall on Scheduled Maintenance
Shell expects its upstream production to fall on quarter after output was hit by scheduled maintenance and the completed sale of SPDC in Nigeria. The British energy company said production in the second quarter is expected to fall to between 1.66 million to 1.76 million equivalent barrels a day. This compares with 1.855 million barrels in the first quarter.
Sky News
24-04-2025
- Business
- Sky News
Ed Miliband gives speech on clean energy at London summit
Clean energy transition 'won't happen overnight', says Miliband Ed Miliband has committed £300m to building offshore wind farms. The minister for energy security and net zero confirms that British Energy, the publicly owned company, has been given the cash to improve offshore wind supply chains. Speaking to Sky News, he says: "There is a huge opportunity here: jobs for engineers and welders, and construction workers. "It's part of our whole argument, which is this clean energy transition is an unprecedented economic opportunity, probably our biggest opportunity to contribute to economic growth. "We want Britain to be the safe haven for the world for global investors to come here and we think we have a good chance of that happening." Challenged on whether Chinese firms will be part of the supply chain for new wind farms, Miliband says "China is part of our global supply chains". It comes after concerns were expressed that some Chinese manufacturing could be being performed by slave labour. He adds: "Absolutely, we don't want to use slave labour. "What we're doing, though, is building up our British manufacturing base. "This is really, really important, and this wasn't done in the past. We care about making, buying and selling things in Britain. And this investment today is part of this. "But I'll be honest with you, it won't happen overnight", he adds. The former Labour leader added that the government will make a "calm and considered decision" on whether to shake up the UK's energy market and move towards different prices for different areas of the UK. Miliband is reported to be considering zonal pricing, which some newspaper reports have said could lead to higher bills in the South East of England, while other areas may get cheaper energy. Asked about the move on Sky News, he said: "We're still looking at the details of this, which is something we've got to really get right, and we are studying in detail the effect."
Sky News
24-04-2025
- Business
- Sky News
Politics latest: Starmer to visit deck of aircraft carrier in vow to protect trade routes
Clean energy transition 'won't happen overnight', says Miliband Ed Miliband has committed £300m to building offshore wind farms. The minister for energy security and net zero confirms that British Energy, the publicly owned company, has been given the cash to improve offshore wind supply chains. Speaking to Sky News, he says: "There is a huge opportunity here: jobs for engineers and welders, and construction workers. "It's part of our whole argument, which is this clean energy transition is an unprecedented economic opportunity, probably our biggest opportunity to contribute to economic growth. "We want Britain to be the safe haven for the world for global investors to come here and we think we have a good chance of that happening." Challenged on whether Chinese firms will be part of the supply chain for new wind farms, Miliband says "China is part of our global supply chains". It comes after concerns were expressed that some Chinese manufacturing could be being performed by slave labour. He adds: "Absolutely, we don't want to use slave labour. "What we're doing, though, is building up our British manufacturing base. "This is really, really important, and this wasn't done in the past. We care about making, buying and selling things in Britain. And this investment today is part of this. "But I'll be honest with you, it won't happen overnight", he adds. The former Labour leader added that the government will make a "calm and considered decision" on whether to shake up the UK's energy market and move towards different prices for different areas of the UK. Miliband is reported to be considering zonal pricing, which some newspaper reports have said could lead to higher bills in the South East of England, while other areas may get cheaper energy. Asked about the move on Sky News, he said: "We're still looking at the details of this, which is something we've got to really get right, and we are studying in detail the effect."
