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The UK’s rapid renewable energy expansion is being hindered by transmission infrastructure bottlenecks, forcing grid operators to pay wind farms to shut down and rely on expensive gas plants instead.
Western refineries are positioning to earn record profits from a global diesel shortage expected to persist into 2027, as supply constraints and high fuel costs create lucrative opportunities for energy companies with production capacity.
Disrupted Middle Eastern and Russian fuel oil supplies have pushed Asian shipping costs to record levels, with Singapore’s premiums reaching unprecedented spreads as demand remains resilient despite geopolitical tensions.
Record tanker freight rates triggered by the Iran war have surged to $80 million per shipment, deterring Asian refiners from purchasing U.S. crude and causing major disruptions to global oil trade patterns.
Prime Minister Andy Burnham announced plans for Great British Grid, a government-backed entity to invest in electricity infrastructure and reduce Britain’s high energy costs through increased competition.
The head of EDF Energy argues that approving new North Sea oil and gas projects poses no contradiction to climate goals, joining other renewable energy leaders in backing the Rosebank and Jackdaw developments.
