NIKKEI 225
38,665.94 -280.99 (-0.72%) HANG SENG
19,254.80 +34.18 (+0.18%) CRUDE OIL
79.06 -0.20 (-0.25%) GOLD FUTURES
2,416.40 -9.50 (-0.39%) DOW
39,872.99 +66.22 (+0.17%) Bitcoin GBP
54,527.75 -1,232.14 (-2.21%)
Serica Energy PLC (SQZ.AQ)
- Reuters
Analysis-North Sea energy firms look beyond UK after tax squeeze
North Sea oil and gas producers are merging and shifting overseas as Britain's windfall tax slashes profits and as the opposition Labour Party threatens more tax if it wins the next general election. Oil majors such as Shell, Chevron and Exxon Mobil have long since pulled back from the ageing basin in pursuit of more profitable oilfields, divesting assets to smaller producers such as Harbour Energy, Ithaca Energy and Serica Energy. These independent oil and gas producers are now looking further afield and merging to cut costs and boost revenue.
- Reuters
Serica Energy CEO Flegg to depart after six years at the helm
The change will take place after the company's 2023 earnings are published, expected to be in mid-April, the company said without disclosing a reason for Flegg's departure. Shares in Serica, which has expanded production sharply through acquisitions and investments in recent years, fell by about 3% after the announcement. Flegg's departure marks the independent producer's third top leadership change in the past 10 months, having replaced its chairman and chief financial officer last year.
- The Telegraph
Sunak faces fresh inflation headache as oil price hits $95
Rishi Sunak is facing a fresh setback to his target of halving inflation as oil prices hit $95 for the first time this year.
