Oil traded near the highest close in more than two years before U.S. government data forecast to show stockpiles extended declines for a seventh week and as unrest continued in OPEC’s third-biggest producer.
Whilst market conditions continue to be challenging, we are in a much stronger position than this this time last year. We have experienced steady trading throughout 2017, both in the North Sea and internationally although margins are tighter than they have ever been.
US oil production surged to a 46-year record in October.
After capping its second annual gain, oil started 2018 by advancing toward $61 as U.S. drilling activity remained at a standstill following a slip in production and as protests continued in Iran.
Norway is realising it will have to do without the deep pockets of the biggest oil companies as it seeks to extend an era that has made it one of the world’s richest countries.
The North Sea’s oil rigs could be transformed into nightclubs, prisons, hotels and distilleries in the future, according to a new report.
South Korea is holding another vessel over suspicions it transferred petroleum products to a North Korean vessel -- the second seizure to come to light since President Donald Trump warned China against illicit oil sales to North Korea.
Most of the other opinion pieces published here around this time of the year reflect on what happened in 2017 and try to predict what will possibly happen in 2018. This piece looks back a little bit further, but also looks further into the future. Thus, rather than dealing with the short-run, the focus here is more the medium-run.
Nexen today became the latest company to confirm that production had restarted from its fields served by the Forties pipeline.
About 70 North Sea jobs have been safeguarded by a £35million investment in an oil field whose days looked numbered as recently as one year ago.
Oil’s revival from the biggest crash in a generation persisted, with prices set for a second annual gain after weathering everything from hurricanes and Middle East conflict to the tussle between OPEC and U.S. shale.
The year has been defined by the improvements – small and large – the North Sea industry has made it through the downturn. Okay, expectations are lower after some very tough times – but there are reasons to look back with pride. Oil companies, the supply chain and the authorities have all risen to the challenge to feed some notable successes.
Forties pipeline operator Ineos has announced that it has started pressure testing on the structure.
Premier Oil said today that it had reached first oil from the Catcher area in the North Sea.
A growing customer base outwith its oil and gas market has allowed an Aberdeen firm to record an increase in turnover and profit during the last financial year.
Oil headed for the first weekly advance in a month as U.S. crude stockpiles fell to the lowest level in more than two years and the pace of production gains slowed.
Oil firm Siccar Point Energy has applied to the UK Government for permission to drill the Lyon well west of Shetland.
North Sea oil firm RockRose Energy today confirmed the completion of two acquisitions.
The Scottish Government has said the North Sea oil industry’s skills base can help overcome obstacles in the way of its charge to a low carbon future.
Scotland’s transport minister has yet to decide whether to support calls for an independent public inquiry into North Sea helicopter safety.
Oilfield service firm Expro said yesterday that its decision to file for bankruptcy in the US would not impact its 600-strong workforce in the north-east of Scotland.
Petrochemicals giant Ineos said today that it was making "steady progress" in its efforts to fix the Forties pipeline.
Oil extended gains toward $58 a barrel as U.S. drillers targeting crude reduced the rig count for the first time in four weeks.
Oil steadied below $65 a barrel in London after a volatile week in which the market was shaken by the shutdown of a North Sea pipeline that underpins the Brent benchmark.
The two most critical forecasts of global oil markets offer contrasting visions for 2018: one in which OPEC finally succeeds in clearing a supply glut, and another where that goal remains elusive.