Scottish firm Cairn energy have found new oil just off the coast of Greenland Edinburgh based energy company Cairn Energy have struck oil for the first time just off the coast of Greenland. Early analysis indicates two types of oil have been found, with natural gas also present in the Baffin Bay basin. Further analysis is needed to determine the … Read More
Gulf Oil spill has cost BP 3.8 billion pounds
BP says they have spent nearly four billion pounds since April, when the Deepwater Horizon rig exploded in Mexico. The staggering sums have accumulated in scarcely three months since the disaster. BP attribute the majority of the sum to their initial spill response, namely the 31,000 people deployed in the numerous containment attempts. The gushing oil well was finally stopped … Read More
Recession responsible for emissions ‘illusion’
CO2 emissions fell by 8.6% last year. The Committee on Climate Change (CCC) has said that the economic downturn is responsible for the 8.6% drop in CO2 emissions experienced last year. Major changes have been called for by The Committee on Climate Change in an annual review presented to the government. The CCC’s annual report follows a year which has … Read More
The effects of the BP oil spill
BP hit hard in the aftermath of the disaster in the Gulf of Mexico It’s almost two months since the widely reported disastrous oil spill in the Gulf of Mexico, where the Deepwater Horizon BP oil rig exploded and was sunk on April 20, killing 11 workers and leaving a hole in the ocean floor spewing around 5000 barrels of … Read More
Nuclear power & a new government
What is the UK Nuclear industry looking forward to under a new government? Hung Parliament & Nuclear Power Following the televised debates, polls are indicating that the chances of one party gaining enough of a majority to be elected has significantly dropped. This has led to concerns that the nuclear power plans put in place by the Labour government could … Read More
Oil demand to rise
The International Energy Agency (IEA) has forecast that oil demand will hit an all time high this year. This comes after recent news that oil prices went up to $87 per barrel, the highest it has been in the 18 months since October 2008. The IEA has reported that due to a big increase in global oil demand including a … Read More
EDF profits boosted by nuclear acquisitions
The French energy giant has reported a net income of £3.4bn for the financial year. EDF, who are planning to build a number of next generation nuclear power stations in the UK, saw sales increase by 4pc to €66.3bn. EDF’s growth has been attributed to it’s acquisition of British Energy, the UK nuclear operator for a reported £12.5bn at the … Read More
Britain’s new nuclear plan given go ahead
10 new nuclear power plants are to be built, aiming for 25% nuclear energy by 2025. Energy and Climate Change Secretary Ed Miliband announced this week that new nuclear plants, combined with renewable energy and cleaner coal plants, can secure the country’s energy supply and cut its carbon and greenhouse gas emissions. With nuclear power currently providing around 15% of … Read More
Government report advises increase in nuclear role needed
Report published this week advises that the percentage of the UK’s energy generated from nuclear plants could double after 2030. The report, commissioned by the government, claims that the most efficient solution to lowering the UK’s depency on energy from sources such as natural gas and fossil fuels is by increasing the UK’s nuclear output to a proposed target of … Read More
New pipeline deal means less dependence on Russia
Less dependence on Russia for the EU as Turkey and four other EU countries sign a new pipeline deal. The Nabucco project, formally agreed by Turkey and four other EU nations, is intended to reduce the EU’s reliance on Russian gas by allowing a new pipeline to be built through their countries. The prime ministers of Turkey, Austria, Bulgaria, Romania … Read More