BP shifts from ‘defence to offence’ in Q3, analyst says
Oil major BP signalled a switch from “defence to offence” in its third-quarter profits update, an analyst has said.
oil
BP to ‘keep restive oil investors onside’ with share buyback scheme
Oil major BP said yesterday it would start buying back its own shares after revealing third-quarter profits more than doubled.
BP ‘comfortable’ with balance sheet despite £30bn net debt
BP's chief financial officer said today that the oil major was "comfortable" with its balance sheet despite net debts sitting at £30billion at the end of September.
North Sea needs substantial investment to push past 20 year barrier, report says
The North Sea can keep pumping out oil for another 20 years, but substantial investment will be needed to push the boat out longer, a new report said.
WATCH: Commodities expert turns ‘sideways’ on oil
UBS Wealth Management’s executive director of commodities, Wayne Gordon, weighs in on the oil markets and OPEC. The industry expert turns ‘sideways’ on oil. Watch the video to find out how.
Oil extends two-year high as Saudis, Russia back prolonged cuts
Brent crude extended its rally to a two-year high as OPEC and Russia signaled they’ll prolong supply cuts, while instability in Iraq’s Kurdish region persisted.
Exxon’s not afraid of Tesla
Exxon Mobil Corp. says the existential threat to oil producers from electric cars is overblown.
Oil investors roll the dice on OPEC as Saudi prince ups the ante
The OPEC trade is back, and Saudi Arabia is in the driver’s seat.
Opinion: Turns out, the US does have the Iraqi oil Trump wanted
Before America's Twitter-loving president made it to the Oval Office, a recurring theme was that the U.S. should have gotten hold of Iraq's oil after toppling Saddam Hussein. There's this:
Budget wish-list letter sparks bitter row between Tories, SNP
The north-east's Tory MPs have thrown their weight behind an appeal to the Chancellor to give the oil and gas industry more support in next month’s Budget.
Updated: Brent near 2-year high as Saudi prince backs Opec cuts
Brent oil traded near the highest level in more than two years as Saudi Arabia’s Crown Prince Mohammed bin Salman backed the extension of OPEC-led output cuts.
Delivery of new Transocean drillships to be delayed
Rig contractor Transocean said today that the delivery of two new drillships will be delayed after the firm asked for modifications.
Statoil says it is getting ‘more for less’ after reporting jump in Q3 profits
Norwegian oil major Statoil today reported a jump in third quarter profits and said it expected to increase production by 6% this year.
EnQuest reveals £75m cash boost
Oil firm EnQuest said today that it had received a multi-million pound cash boost as part of its ongoing drive to improve liquidity.
Why oil-rich Gulf Arab countries are turning to renewables
Solar power is getting so cheap that even Gulf Arab states awash in crude oil are embracing the renewable resource. Their motive is as much to keep selling fossil fuels as it is to rein in their carbon emissions.
Labour shortage weighs on oil industry recovery
Three years ago, when crude prices still floated above $100 a barrel and the nation's oil fields were booming, Clint Concord could hire 20 new workers a day here in the West Texas oil patch to meet the constant demand from his production company clients.
The 5 countries that could push oil prices up
Oil prices appear to be stuck in the $50s per barrel, but that doesn't mean there aren't serious supply risks to the market.
Oil near $52 on signs US fuel stockpiles declined
Oil held gains near $52 a barrel as U.S. industry data showed gasoline stockpiles declined and as OPEC negotiates an exit strategy to output cuts alongside an extension of the deal.
Shell submits new plans for Fram field development
Oil major Shell has filed new plans to develop the North Sea Fram field with the UK Government.
Tambar field drilling campaign up and running, Faroe says
Aberdeen-based Faroe Petroleum said today that a drilling campaign to raise production from the Tambar field is under way.
Oil gains as OPEC says all options on the table
Oil extended gains as OPEC and its allies reiterated that all options are open to re-balance the market.
Opinion: OPEC dithering on output cuts could kill oil’s rally
Brent crude's brief flirtation with a $60 price level already seems to be fading. OPEC and its friends are facing their last chance to swing sentiment in the oil market this year. They shouldn't get too precious about it. What ministers say at their Nov. 30 meeting may have little bearing on what they actually do, but it could have a big impact on prices.
Video: The four areas digital will transform
In a recent World Economic Forum report, Accenture estimated that the digital transformation in the oil and gas industry could unlock approximately $1.6 trillion of value for the industry and wider society over the next 10 years. Watch the video to discover the primary areas where digital trends merge to drive the most value.
Updated: Oil’s geopolitical-risk rally fades as Iraq repairs crude fields
A surge in crude prices faded as Iraq sought to restore flows from fields in a disputed region after violence had curbed output in OPEC’s second-biggest producer.
Jersey raising £20m to help fund Verbier programme
North Sea minnow Jersey Oil and Gas said today that it would raise £20million through an equity placement.