Consumer energy bills in the UK are set to rise to £3,800/yr by the end of winter
UK gas producers need to read the room
The reality of price rises facing consumers means the dialogue has shifted
It is entirely understandable that E&P firms that had stuck with the UK continental shelf (UKCS) through what had been a relatively fallow period since 2014 were frustrated by the announcement of the country’s Energy Profits Levy (EPL), particularly coming just mere weeks after a new energy security strategy had emphasised a key role for more domestic production. In particular, Petroleum Economist feels and understands the palpable sense of unfairness among those that committed capital in more challenging periods that these investments made prior to the EPL cannot be offset against the new tax. But the industry needs to look at NBP prices for this winter trading at 550-750p/th, at predic
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
