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Category: Offshore

BP cuts stake in wind farms as it focuses on fossil fuels

BP has recently made a significant strategic move by agreeing to transfer all its offshore wind projects into a joint venture with Japan’s largest power producer, Jera. This decision marks a shift in focus away from renewables and towards oil and gas ventures for the oil giant. The joint venture will see BP investing up […]

Why Ed Miliband’s turbine building spree leaves Britain vulnerable to attack

A recent incident involving a cargo ship in Russia has raised concerns about the vulnerability of critical underwater infrastructure to “grey zone tactics.” The Eagle S tanker, suspected to be part of Russia’s “ghost fleet,” was allegedly involved in damaging the Estlink 2 power cable between Finland and Estonia. This incident highlights the growing threat […]

Half a million students awarded UK degrees without setting foot in Britain

The landscape of higher education is rapidly evolving, with a significant increase in the number of students obtaining UK degrees without ever stepping foot in Britain. According to a report by the Higher Education Policy Institute (Hepi), almost 600,000 students earned UK degrees offshore in the past year, marking a 33% rise over the last […]

‘Our industry is disappearing’: The city ravaged by the war on oil

This move was met with mixed reactions in Aberdeen, where the offshore workers are the lifeblood of the economy. The Labour government justified its decision by citing the need to tackle climate change and transition to renewable energy sources. The oil and gas workers in Aberdeen, however, see their livelihoods at stake. Many feel that […]

The dull Berkshire town that’s become a laundromat for the world’s dirty cash

Hawaiian shirts and suitcases stuffed with cash are a rare sight on the sleepy streets of Wokingham. But this leafy Berkshire town has been revealed as an unlikely hotspot for suspicious money channelled into the UK from global tax havens. Nearly £6bn of untracked funds have been funnelled through companies registered in British Overseas Territories […]

Starmer pledges £200m to offshore wind companies

Keir Starmer, the leader of the Labour Party, has announced plans to allocate up to £200 million to offshore wind companies for the construction of factories in traditional oil and gas regions. This initiative will be unveiled at the COP29 climate change summit, where Starmer aims to emphasize the UK’s commitment to clean energy transition. […]

Savers ship cash abroad to escape Reeves’s tax raid

Savers are increasingly looking to move their money overseas in order to avoid the punitive tax changes introduced by Chancellor Rachel Reeves, according to leading wealth managers Quilter Cheviot and Waverton. One popular method being utilized by savers is the use of offshore bonds, which allow for the growth of investments without immediate capital gains […]