A fall gas price drives has driven down the cost of household energy bills although they still remain high. Energy regulator Ofgem has announced a 7% reduction of the energy price cap for the period covering July to September 2025, the first drop for a year. The price cap, which is set every three months, sets a maximum limit suppliers can charge for energy. For an average household paying by direct debit for dual fuel the fall equates to £1,720 per year. This is £660, or 28%, lower than the height of the energy crisis at the start of 2023 when the government implemented the energy price guarantee. However, prices remain high, with the upcoming level of £152 still 10% higher than the same period last year. Ofgem said the recent fall in wholesale gas prices is the main driver of the overall reduction, accounting for around 90% of the fall. The remainder is primarily due to changes to the operating cost allowances energy suppliers can recover. Direct debit and prepayment customers will see standing charges fall by around £19 per year on average. The price cap – which sets a maximum rate per unit and standing charge that can be billed to customers for their energy use – will fall by £129 for an average household per year, or around £11 a month, over the three-month period of the price cap. Tim Jarvis, director of general markets at Ofgem urged consumers to “shop around” for deals on energy supply: “A fall in the price cap will be welcome news for consumers, and reflects a reduction in the international price of wholesale gas. However, we’re acutely aware that prices remain high, and some continue to struggle with the cost of energy. “The first thing I want to remind people is

Japanese oil and gas explorer and producer Inpex Corp. has secured rights to explore the Serpang Working Area offshore Eastern Java in Indonesia. Inpex said in a media release it had won the award in Indonesia’s second Petroleum Bidding Round 2024, hosted by the Ministry of Energy and Mineral Resources. Following the award, Inpex, through its unit Inpex Serpang Ltd., signed a Production Sharing Contract (PCS) with Indonesian upstream regulator SKK Migas, Petronas Energy Serpang Sdn. Bhd. and EO Serpang Pte. Ltd. The Serpang Working Area is located about 200 kilometers (124 miles) east of Surabaya, East Java’s capital, where multiple oil and gas fields have been found. This area is projected to sustain energy demand in the medium to long term, Inpex said. Together with its partners, Inpex is hopeful for a prompt shift to development and production if exploration efforts prove successful. Inpex expects its exploration endeavors in the Serpang Working Area to play a significant role in the growth of its natural gas and liquefied natural gas (LNG) sector, as detailed in Inpex Vision 2035 announced in February 2025, along with the company’s operations in Southeast Asia, which Inpex identifies as a key business region. In Inpex Vision 2035, the company highlights the importance of a stable energy supply in the current geopolitical landscape, while remaining on the course toward net-zero. The company added that the use of natural gas and LNG as a transition fuel is becoming increasingly significant. Inpex said it will further expand its natural gas and LNG business. It also aims to provide low-carbon solutions through carbon capture and storage and hydrogen, and drive initiatives in the energy and resources fields. To contact the author, email [email protected] What do you think? We’d love to hear from you, join the conversation on the Rigzone

As we enter 2025, the energy industry stands at a pivotal moment in its history. Despite global economic headwinds and geopolitical uncertainties, we’ve witnessed unprecedented momentum in clean energy deployment and DNV forecasts that the world will hit peak emissions this year. DNV’s third edition of the UK Energy Transition Outlook presents the results from their independent model of the UK’s energy system. It covers the period through to 2050 and forecasts the energy mix, supply & demand, and provides insights on how the energy transition is developing in the UK. Register for your free spot here Agenda Introduction with Hari Vamadevan, VP Energy Systems Highlighting key results and perspectives from the UK ETO with Frank Ketelaars, Energy Transition Director for DNV energy systems in the UK & Ireland. Highlighting key results and perspectives from the UK ETO with Viken Chinien, Head of Enterprise Risk Management at Energy Systems. Moderated discussion with questions – Ed Reed, Editor of E-FWDQ&A You can download your complimentary report here.

UK energy Minister Michael Shanks has admitted to a Scottish Parliament committee that not a single penny of the UK Government’s proposed £200 million investment in Grangemouth has been released. Pressed by SNP MSP Gordon MacDonald on the status of the funding, Shanks conceded that no money will be released “until there is a viable investment proposition on the table” – a clear admission that the much-lauded £200m figure remains entirely undelivered. In February, Keir Starmer said “we will allocate £200m from the National Wealth Fund for investment in Grangemouth – that is the difference a Labour government can make.”. But just three months later, Grangemouth refinery has shut down, and not a penny of that funding has materialised. Commenting, SNP MSP Gordon MacDonald said: “Today, Michael Shanks confirmed what many of us had suspected – not a penny of the UK Government’s promised £200m for Grangemouth has materialised. “While I understand the need for private investment, the UK Government is putting Grangemouth in a chicken and egg style situation – private investors need certainty – and that certainty only comes when the Government steps in and invests in the first place. “If Westminster can find millions to nationalise British Steel, and billions for Carbon Capture projects in England – then surely it can also deliver on its promise to Grangemouth. “Scotland’s industry deserves the same level of investment and support as south of the border. The UK Government must act now to secure a long term future for Grangemouth.”

Aker BP ASA and its partners have discovered oil near the Skarv field in the Norwegian Sea, with preliminary estimated recoverable volumes of 3-7 million barrels of oil equivalent in one of the targets. The discovery consisted of wells 6507/5-13 S and 6507/5-13 A. The wells were drilled six kilometers (3.73 miles) southwest of the Skarv floating production, storage and offloading (FPSO) vessel in production license 212, according to the Norwegian Offshore Directorate. The license is part of the Aker BP-operated Skarv Unit area. Well 6507/5-13 S aimed to prove petroleum in reservoir rocks in the Fangst and Båt groups. “The well encountered a 14-meter oil column in the Garn Formation in 43 meters of sandstone with moderate reservoir quality”, the upstream regulator said in a press release. “The oil/water contact was encountered at 3702 meters below sea level. The other formations in the Fangst and Båt groups were aquiferous. “Well 6507/5-13 S encountered hydrocarbons from the Early Cretaceous (Apt/Alba) in multiple sandstone layers with moderate reservoir quality. The oil/water contact was estimated at 3414 meters below sea level”. Preliminary calculations for the Garn Formation discovery showed 0.48-1.11 million standard cubic meters (MMscm) of recoverable oil equivalent. “This corresponds to 3-7 million barrels of recoverable o.e.”, the Directorate said. Meanwhile the Early Cretaceous discovery is estimated to have 0.16-0.32 MMscm of recoverable oil equivalent. “This corresponds to 1-2 million barrels of recoverable o.e.”, the Directorate said. Well 6507/5-13 A aimed to delineate the Early Cretaceous discovery. “The well proved a reservoir of moderate quality”, the Directorate reported. “The reservoir was saturated with water”. The licensees will evaluate tying back the Garn Formation discovery to the Skarv FPSO, according to the agency. The wells, the ninth and 10th exploration wells drilled in production license 212, have been permanently plugged. Drilling was

WASHINGTON — U.S. Secretary of Energy Chris Wright today announced the designation of coal used in the production of steel as a critical material under the Energy Act of 2020, in accordance withPresident Trump’s Executive Order “Reinvigorating America’s Beautiful Clean Coal Industry.” This action affirms the Administration’s commitment to American energy dominance, manufacturing resurgence, and strengthening America’s energy and industrial security.   A Department of Energy analysis concluded that metallurgical coal, a key input for steel production, meets the statutory definition of a critical material. A robust steel industry is fundamental to U.S. manufacturing, infrastructure development, and economic resilience. Steel is essential to energy technologies, transportation, and defense systems, as the materials that enable steel production (including metallurgical coal and anthracite) are vital to American interests.   “Metallurgical coal is more than a fuel—it is a cornerstone of our industrial base,” said Secretary Wright. “By designating metallurgical coal as a critical material, we are ensuring that American steel, generated by American coal, remains the backbone of our manufacturing sector.”     Why Coal Qualifies as a Critical Material:  Metallurgical coal possesses unique properties necessary for producing coke, the fuel and reactant required for steel production using the blast furnace–basic oxygen furnace method.  Anthracite coal, concentrated in the Appalachian region, plays a key role in the electric arc furnace method, which accounts for approximately 70% of domestic steel production.  The U.S. coal industry provides reliable, domestically sourced metallurgical and anthracite coal essential to supporting both steelmaking processes.  There are over 150 metallurgical coal mines in the United States that employ tens of thousands of Americans.    Shared infrastructure and workforce supporting both thermal and metallurgical coal production are under strain from declining investment and operational capacity. Without intervention, this erosion will jeopardize domestic steel dominance.  The designation underscores the multiple threats facing the U.S. steel