Rock Oil secures $250million of frack funding
Upstream newcomer Rock Oil has raised $250million from private equity firm Riverstone Holdings to build shale acreage and production in West Texas.
Markets
BP cleared for US business as EPA agreement reached
BP has entered an administrative agreement with the United States Environmental Protection Agency (EPA) on the British multinational's business in the country following a suspension over the Deepwater Horizon disaster.
Chancellor urged to stimulate North Sea investment
Economists have called on the Chancellor of the Exchequer to incentivise investment in the North Sea as well as to provide other corporate tax breaks in next week’s Budget in order to support Scotland’s economic recovery.
Subsea7 hopeful for Shetland profits
Frontier fields in the Barents Sea and west of Shetland are providing “exciting opportunities” for offshore oil services company Subsea7, the firm has claimed.
North Sea performance ‘disappointing’, admits Shell boss
The new boss of oil giant Shell admits the company's North Sea operations last year were 'disappointing' as he targeted improvement from its production.
North Sea success not enough as E.On braced for profits drop
European energy giant E.On says it expects to slashed its proposed dividend as it braces for profits to fall by as much as a third this year.
Seplat looks for simultaneous London and Nigeria listings to fund new acquisitions
African oil firm Seplat has launched a £300million bid to fund its expansion by launching on the London and Nigerian stock exchanges.
Petrobras raises £5bn in bond issue as race to fund Libra begins
Brazilian oil giant Petrobras has raised more than $5billion in a new bond issue as it looks to fund its major projects for the next five years.
Apollo looks to foreign waters to even out North Sea peaks and troughs
Just four years after it was founded, Apollo Offshore Engineering expects to expand its workforce 500% over the next five years as it plans to open an office in Singapore.
Oil pair behind £2bn bid to buy JP Morgan’s energy unit
In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.
Hunting defies North Sea downturn to post profits rise
Energy services group Hunting saw full-year profits rise for 2013 - despite being hit by a slowdown in North Sea projects.
US Supreme Court hands BG Group £90m boost over Argentina dispute
BG Group has been given a £90million boost after the US Supreme Court upheld its efforts to reinstate an arbitration award against Argentina.
Soco hit by profits drop
African-focused oil explorer Soco International saw its shares slump seven percent today after earnings missed estimates.
CNPC to open doors to foreign investment
China National Petroleum Corp, the country’s biggest oil and gas producer, will seek outside investors for its oil and gas exploration and refining businesses as the nation opens up state companies.
Subsea 7 braced for orders drop as profits fall
Oil services group Subsea 7 has warned it expects orders to decline over the next few months as large-scale subsea projects are postponed.
Energy giant RWE posts first full-year loss in 65 years
RWE posted its first full-year loss since the foundation of the Federal Republic of Germany in 1949 as slumping power prices led to billions of pounds in writedowns.
Gazprom Neft eyes profits despite $16billion investment planned
Gazprom Neft expects its free cash flow to stay positive even as it is planning a $16billion (£9.6billion) expansion over two years.
Pemex losses double as output falls
Mexico's state oil company Pemex' downward profit trend continues as it records $5.8billion (£3.5billion) net loss in the fourth quarter.
Maersk stays positive despite plummeting profits
Profits at Maersk Oil plummeted 58% last year as the Danish-owned group was hit by lower production and oil prices.
Apache looking to sell Kitimat LNG stakes to save costs
Apache Corporation has announced plans to sell of part of its stake in a natural gas export terminal in Canada in an effort to cut costs of the project.
Transocean sees profits tumble in Macondo-bill marked year
Offshore drilling services provider Transocean reported a 49% drop in its fourth quarter profits due to increased costs and lower fleet utilisation.
Apache in ‘serious discussions’ with potential buyers
North Sea oil firm Apache has had “serious discussions” with potential buyers, its boss said yesterday.
Petrobras cuts investment in refining in $220.6billion plan
Petrobras, the world’s most indebted oil company at $114.3billion (£68billion), slashed its five-year investment plan by $16billion (£9.6billion) as it cut spending in its unprofitable refining division.
Weatherford set to sell businesses and cut jobs to reduce debt
Weatherford is looking to divest its non-core businesses to cut costs following a difficult financial year.
Repsol agrees YPF sale to Argentina in $5billion deal
Spanish oil and gas multinational Repsol has agreed to accept $5billion (£3billion) for Argentina’s seizure of its Treasury Petroleum Fields (YPF), ending a two-year dispute.