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BP plans to develop an offshore gasfield in Venezuela in partnership with companies linked to the Trump administration, marking one of the first major foreign investments since recent political changes.
Great Britain faces potential gas shortages in the 2030s without urgent government action, despite expanding clean energy sources, according to an official assessment released to ministers.
Energy debt in Great Britain could reach £7bn by year-end as household arrears climb amid forecasted price cap increases and rising wholesale gas costs.
A state-sponsored cyber-attack shut down a British gas power plant for four days last month, but hundreds of similar facilities may remain vulnerable to attacks until the 2030s under current government timelines.
European gas storage levels have fallen to their lowest point in 13 years, reaching just 63% full in late August and triggering concerns about winter energy prices and supply security across the continent.
The UK’s spending watchdog warns consumers could face bills £7.8bn higher annually by 2030 without faster electricity grid upgrades needed for renewable energy expansion.
