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BP will develop an offshore gasfield in Venezuela alongside firms linked to the Trump administration, marking one of the first major foreign investments in the country since recent political changes.
Great Britain risks depleting its gas supplies by the 2030s without immediate government intervention, according to official assessments of potential supply shortages amid declining North Sea reserves.
Households in Great Britain could accumulate £7bn in energy debt by year-end as price caps rise to three-year highs following winter bill increases, according to industry forecasts.
A successful Iran-linked cyber-attack shut down a small British power plant for four days last month, but government cybersecurity standards for such facilities won’t take effect until 2030.
European gas storage levels have fallen to their lowest point in 13 years as the region heads into winter, prompting concerns about price volatility and potential supply challenges.
The UK’s independent auditor warns that electricity grid upgrades must accelerate to prevent consumer bills from rising by up to £7.8bn annually by 2030 as renewable energy capacity expands.
