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Uk Energy

All articles tagged with #uk energy

business10 days ago•3 min saved

Phillips 66 acquires Lindsey Oil Refinery assets but plans no reopening

The Prax Lindsey oil refinery in North Lincolnshire was bought out of administration by US energy company Phillips 66, which plans to merge it with its nearby Humber refinery, ceasing standalone operations but aiming to secure jobs and boost UK fuel supply. The deal follows Prax Lindsey's collapse last summer amid financial irregularities and legal issues involving its former owner, with the future of the site now tied to Phillips 66's expansion plans.

via The Guardian|

#business #oil-refinery #phillips-66

business5 months ago•5 min saved

Centrica and UK government boost nuclear energy with Sizewell C approval and investment

Centrica's shares rose about 4.5% after announcing a £1.3 billion investment and a 15% stake in the Sizewell C nuclear project in the UK, which is expected to significantly boost the country's nuclear energy capacity. The deal includes protections against delays and cost overruns, with an anticipated exit share value of around £3 billion. Meanwhile, UK government bonds fell due to higher-than-expected public borrowing in June, and global markets experienced mixed movements amid trade tensions and record highs in US stocks.

via CNBC|

#british-gas #business #centrica

world7 months ago•2 min saved

UK commits £14bn to develop Sizewell C nuclear power plant

The UK government has approved a £14.2 billion investment to build the Sizewell C nuclear power plant in Suffolk, aiming to generate enough energy for six million homes and create 10,000 jobs, amidst opposition and concerns over costs and delays, with final funding decisions expected later this summer.

via BBC|

#climate-change #government-investment #nuclear-power

business1 year ago•1 min saved

Shell and Equinor Form UK's Largest Independent Oil & Gas Firm

Shell and Equinor have announced plans to merge their British offshore oil and gas assets to form the UK's largest independent oil and gas company. The joint venture, based in Aberdeen, Scotland, aims to enhance energy security and sustain fossil fuel production in the UK. Expected to produce over 140,000 barrels of oil equivalent per day by 2025, the deal is set to be completed by the end of next year, pending approvals. This move is part of a balanced energy transition strategy, ensuring a secure energy supply for the UK.

via CNBC|

#business #equinor #joint-venture