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British oil sector stands to lose 30,000 jobs
The great oil price decline will severely affect the British oil and gas sector, in which up to 30,000 may lose their jobs, according to trade association.
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The great oil price decline will severely affect the British oil and gas sector, in which up to 30,000 may lose their jobs, according to trade association.
Investments could drop by up to 30 percent in the British oil and gas sector during 2020, industry association predicts, as a result of the coronavirus and a dramatic drop in the oil price. The sector is in a "paper-thin" position, CEO says.
British naval vessels are to escort commercial ships through the world's most important oil sailing route near Iran.
The count is not yet completely finished, but the Conservative Party is certain to get a majority in the House of Commons.
UK Prime Minister Boris Johnson presents the latest Brexit divorce settlement proposal to both the EU Commission and the House of Commons today, Thursday. The question of an Irish border continues to be a central contentious issue, with new lines being drawn along the Irish Sea. Even so, Downing Street has softened its rhetoric from the recent "final offer" stance to a broader, negotiable platform.
The Iranian tanker vessel Grace 1 has been released by UK authorities in Gibraltar, where it had been held since early July. US authorities filed last-ditch request to seize the tanker.
An Iranian news agency reports that the country expects tanker ship Grace 1, recently seized by the UK, to be released soon. Gilbraltar's Supreme Court is to hold a hearing on Thursday.
The detainment of a UK-flagged tanker vessel close to the Strait of Hormuz now makes security firms pull their British employees from ships in the area. "We are advising our clients do the same," co-founder of major security firm tells Financial Times.
First it was Brexit that diluted the UK flag's maritime standing. Now UK-based shipping companies fear that the Strait of Hormuz conflict is making it less attractive to sail under UK flag.
In taking precautions for a no-deal Brexit, the UK government is planning to enter new contracts for increased capacity on routes between the EU and the UK.
Yet another British Navy warship has arrived at the Strait of Hormuz to guard the country's merchant fleet in the region following Iran's detention of a UK-flagged Stena vessel a few weeks back.
The UK navy has been tasked with accompanying British-flagged vessels through the Strait of Hormuz, says government spokesperson. This precaution is a result of last week's seizure of a British-flagged tanker vessel. Updated.
Iran's seizure of a UK-flagged oil tanker constitutes state piracy, says UK Secretary of State Jeremy Hunt after an emergency meeting in London.
UK prime minister Theresa May will lead a meeting with the UK government's emergency committee Monday to discuss the security situation in the Persian Gulf after Iran seized a British oil tanker Friday.
A small oil tanker that had gone missing in the Persian Gulf had technical difficulties and was towed into Iranian waters for repairs, an Iranian foreign ministry official said, according to the ISNA news agency.
Following the UK's seizure of an Iranian supertanker at the Strait of Gibraltar due to suspicion of its oil cargo having been bound for a Syrian refinery, Supreme Leader Ayatollah Ali Khamenei vows to retaliate to the UK's vessel seizure, which Khamenei calls "piracy".
A UK minister says the supertanker Grace 1 will be released if Iran guarantees that the ship is not headed for Syria.
Britain raises its threat assessment to the highest level possible for ships operating in the Persian Gulf as tensions escalate in a region accounting for a third of seaborne petroleum trade.
A week after an Iranian tanker vessel was detained, its captain and first mate have now been arrested, informs police.
By 2050, the UK shipping sector must be emission-free, and starting 2025, new ships built for UK waters should be able to sail without emitting any GHG, according to a climate action plan set forth by the British government. Subsidies are also on the table.
Sliding profit margins pose difficulties for logistics companies in paying for Brexit preparations, concludes a new report from the UK's Freight Transport Association. 37 percent of companies participating in the survey have not yet taken steps to prepare.
The EU and the UK have agreed on legally binding amendments to the Brexit agreement. Labour rejects the changes and calls for a no vote.
The UK Ministry of Transport has decided to cancel a much-maligned contract with ferry operator Seaborne Ferries, the purpose of which was to provide additional capacity in the case of a hard Brexit. This could be good news for DFDS.
The UK government has published a comprehensive report on its maritime strategy for the UK ahead to 2050. Taking inspiration from Denmark, the country aims to become an innovation hub.
The British Parliament emphatically rejected Theresa May's Brexit deal. With the UK due to leave the EU in 10 weeks, there is growing alarm that the impasse will not end in time to avoid the potential economic disaster that would be a no-deal exit.
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Junior Procurement Officer for Stena Rederi A/S 
