OPEC acknowledges scale of shale boom as supply outstrips demand
OPEC for the first time is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives.
Eni spuds Moroccan exploration well
Eni has successfully spudded an exploration well in the Rabat Deep licensing area off the coast of Morrocco.
“Keep drilling and keep working together” says outgoing OGA chairman
The chairman of the UK's energy regulator has urged the sector to "keep drilling and keep working together" as he stands down from the role.
Shell risks losing gas race as rival targets shared resource
After a decade planning the world’s largest floating gas export plant, Royal Dutch Shell Plc’s supplies could get tapped by a competitor first.
New arena shaping up to be among “best in world”
Aberdeen’s new £333million exhibition and conference centre will be open by next autumn and could compete with “the best arenas in the world”, according to the city council’s leadership.
Taskforce to turn Western Australia into global LNG hub
The government of Western Australia (WA) has unveiled plans to create a liquefied natural gas (LNG) jobs taskforce.
M² Subsea appoints global sales director to drive international expansion
Aberdeenshire-based ROV specialist M² Subsea has appointed a new global sales and marketing director as it looks to drive international expansion.
SDX makes oil discovery in Egypt
London-headquartered SDX energy has announced an oil discovery in Egypt.
U.S. drillers boost oil hedging to guarantee 2018 shale surge
U.S. shale drillers have locked in higher prices for almost half of the oil they plan to pump this year, with oil hedges climbing above the historical average as producers take advantage of $60 a barrel oil.
Top Indian refiner eyes $1.5billion savings with own plant tech
India’s biggest oil refiner has developed refining processes that may help it save at least $1.5 billion in costs as well as challenge global giants in the technology leasing business.
Lancaster field could create ‘paradigm shift’ in North Sea exploration says Hurricane boss
The west of Shetland Lancaster field could create a “paradigm shift” for North Sea exploration drilling, according to the chief executive of Hurricane Energy.
Hydrasun awarded Repsol Sinopec contract worth up to £2million
Aberdeen-based oilfield service company Hydrasun has won a contract worth up to £2million with Repsol Sinopec Resources UK.
McDermott and BHGE win FEED work on BP’s Tortue development
BP has selected US firms McDermott and Baker Hughes, A GE Company (BHGE) for the front-end engineering design (FEED) studies for its major Tortue/Ahmeyim development in West Africa.
Saudi Aramco IPO likely to be delayed until 2019
Saudi Aramco’s floatation on the stock market could be delayed until 2019, according to a news report.
SNS Conference rescheduled for May following cancellation
The Southern North Sea Conference, which was hit with a last-minute cancellation two weeks ago, has been rescheduled for later this year.
WoodMac: ENI deal with Abu Dhabi lays foundation for Middle East portfolio
Abu Dhabi National Oil Company (ADNOC) has signed 40-year agreements with Italian multinational oil firm Eni, for stakes in two of the country’s concession areas.
Aker BP “sets its sights” on higher dividends for shareholders
Aker BP says its earnings before tax were $1.7billion (£1.2billion) in 2017, up from $968million (£698million) the previous year.
BP and Shell listed in top 20 ‘superbrands’ in UK
Lego has been voted the UK's strongest brand as previous winner British Airways fell from the top 20 ranking entirely.
Petrofac wins $135million EPC contract in India
UK-headquartered energy services firm Petrofac has been awarded a $135million (£97million) contract in India from Bharat Petroleum Corporation Limited (BPCL).
After years of energy chaos, giant deal gives Germany a champion
EON SE’s 22 billion-euro ($27.1 billion) bid for Innogy SE establishes a German energy champion after Angela Merkel’s radical energy policy wrought years of upheaval on the country’s once-mighty utilities.
Subsea 7 wins ‘substantial’ contract from BP Exploration
Subsea 7 S.A has announced it has won a “substantial” contract from BP Exploration for assets offshore Azerbaijan, with the work to be supported in Aberdeen.
Nigeria’s state oil company hasn’t explained missing billions
An agency tasked with cleaning up Nigeria’s murky oil industry says even though financial accountability has improved the state oil company still hasn’t explained billions of dollars of missing revenue.
Oil short-selling rears its ugly head as shale boom fears mount
Short-selling is creeping back into the oil market as fears increase that the U.S. will be awash with oil again.
Statoil granted drilling permit near Visund field
Energy giant Statoil has been granted a permit for exploration drilling near the Visund field in the Norwegian North Sea.
Ousted MSP insists: I’ve learned from my mistakes
Shamed Aberdeen Donside MSP Mark McDonald has claimed he is “ready to learn from my mistakes” when he embarks on a career as an independent politician.