As oil booms, biggest importer signals demand will boom too
Oil investors discouraged by Wednesday’s data showing a retreat in Chinese crude imports can find cheer in another figure released in the world’s top buyer on the same day.
oil
Oil slips as industry crude, gasoline storage numbers disappoint
Oil extended its decline after an industry report was said to show disappointing numbers for crude and gasoline stockpiles.
Ineos picks Expro for Breagh development programme
Energy giant Ineos has booked oilfield services company Expro to carry out well testing services on the Breagh field in the southern North Sea.
US shale to power ahead after cuts boost prices, Opec says
OPEC said shale oil production will grow considerably faster than expected over the next four years after the group’s output cuts triggered a crude-price recovery that helped U.S. producers.
Ineos says door open to north-east suppliers, but no plans for Aberdeen office
Energy giant Ineos’s oil and gas division has no plans to open a regional office in Aberdeen, a company boss has said.
Opinion: Decommissioning tax relief – burden or opportunity?
Tax relief for the decommissioning of UK oil and gas assets is an issue that has attracted much attention in recent times. The fall in oil price in late 2014 changed decommissioning from a future consideration into a present reality for a number of UK offshore fields, and there are numerous high profile examples of fields ceasing production in the past couple of years with a view to the commencement of decommissioning work.
Oil trades near 2-year high as Saudi upheaval spurs risk premium
Oil traded near the highest close in more than two years as political upheaval in top crude exporter Saudi Arabia reverberated through a market where prices were already elevated by signs of tightening supply.
Texas oil companies hire 30,000 over the past year amid crude price recovery
Texas oil companies have hired more than 30,000 workers over the past year, a sharp turnaround after they laid off a third of the industry's statewide workforce during the oil bust.
Siccar Point sells stake in North Sea Jackdaw field
Aberdeen oil firm Siccar Point Energy has struck a deal to sell its stake in the Jackdaw discovery in the central North Sea.
R2S to provide Chrysaor with visual models of former Shell platforms
An Aberdeen subsidiary of marine services company James Fisher and Sons has been picked to provide North Sea newcomer Chrysaor with its visualisation software.
Statoil and project partners to invest £90m in Fram field
Statoil and its project partners in the Fram field off Norway have agreed to invest more than £90million to increase production from the asset.
Exclusive Interview: Nexen to extend North Sea’s biggest producing field by 10 years
Nexen Petroleum UK’s boss has said that a £500million-plus project will extend the life of the North Sea’s biggest producing field by up to 10 years.
Oil advances as Saudi purge bolsters pro-Opec cut Crown Prince
Oil climbed from the highest close in two years as an anti-graft probe in Saudi Arabia was seen to consolidate power in the hands of Crown Prince Mohammed bin Salman, who’s backed OPEC-led output cuts.
Crackdown on billionaires, top officials shakes Saudi Arabia
Even by the standards of Crown Prince Mohammed bin Salman, whose meteoric ascent has put him on the cusp of the Saudi throne at the age of 32, the Saturday night crackdown was stunning.
Oil extends gains from 2-year high on signs of longer Opec cuts
Oil extended gains from the highest close in more than two years on signs OPEC will agree to extend supply cuts when ministers meet in Vienna at the end of the month.
Shell ‘happy’ with portfolio post-Chrysaor deal
Oil major Shell has said it is “happy” with its portfolio a day after completing the near-£3billion sale of a package of North Sea assets.
Apache North Sea witnessed net production growth in Q3
Apache Corporation's North Sea operations saw production increase in the third quarter.
Watch: Oil fundamentals have shifted
Tim Evans, chief market strategist at Long Leaf Trading Group examines oil market fundamentals. Watch the video to find out more.
Oil Near $54 amid uncertainty about OPEC-led production accord
Oil traded near $54 a barrel as two of the world’s largest crude producers provided conflicting guidance about the longevity of a historic supply agreement.
Updated: Shell’s profits leap on strong showing from all business areas, on track to hit divestment target
Shell said today all areas of its business put in a strong showing to steer the oil major to an increase in third-quarter profits.
Exclusive interview: ‘No caution in my optimism,’ Chrysaor boss says
The boss of oil firm Chrysaor has said he is “more than cautiously optimistic” about the North Sea’s future after completing a deal for a package of assets from Shell.
Tax relief reform vital for bringing new investment to North Sea, Chrysaor chief says
The UK Government must let oil companies transfer tax histories if it is serious about attracting investment to the North Sea, an industry chief said yesterday.
Maersk Drilling to supply rig for Buzzard II project
Maersk Drilling has won a contract to provide a rig for the phase II development of Nexen Petroleum's Buzzard field in the central North Sea.
Chrysaor ‘close’ to securing rig for drilling campaign early next year
Chrysaor is keen to get cracking on a drilling campaign early next year and is “close” to booking a rig for the job, the North Sea firm’s boss said yesterday.
BP leads oil-slump survivors back to normality
Oil supermajors are getting back to their normal way of life after surviving a price slump that shook the foundations of their business.