OPEC boosts oil-demand outlook while its production rises
OPEC boosted estimates of demand for its crude this year and next amid stronger-than-expected fuel consumption and a weaker outlook for rival supply.
oil
Well-Safe off to a flyer with first acquisition, appoints CEO
A fledgling North Sea decommissioning firm has moved quickly to complete its first acquisition.
Dispelling North Sea myths
Gunthar Newcombe wants to dispel North Sea myths – and he’s not talking about mermaids and other water dwelling kelpies.
Oil extends losses as higher US output outlook counters curbs
Oil extended declines for a third day amid speculation that a predicted gain in U.S. output will offset OPEC-led efforts to trim a global glut.
Parkmead completes North Sea acquisition
Aberdeen-based firm Parkmead Group has completed a deal to buy Verus Petroleum out of a North Sea licence.
Interview: RockRose eyes bigger role in North Sea future
RockRose Energy’s boss has said he wants to turn the North Sea player into a firm capable of developing assets, rather than just buying up non-operated interests.
Saudis are said to cut September oil sales to prized Asia market
Saudi Arabia is said to have cut crude sales for next month to some buyers in the world’s biggest oil market, limiting sales to prized buyers as part of its pledge to curb exports and shrink a global glut.
Interview: BP’s Bob Dudley on surviving the oil price storm
How do you lead a multibillion-dollar, global oil firm through the most enduring and debilitating downturn to date?
Big Oil’s dream of $65billion hidden off Norway is fading away
Norway’s oil industry has been salivating for years over the Arctic Lofoten islands, which could hold billions of barrels of crude. It will likely have to keep dreaming.
Oil pares weekly drop as US job growth improves demand outlook
Oil pared a weekly decline as strong U.S. jobs growth improves the outlook that rising demand may counter the supply glut roiling the market since 2014.
Oil loses ground after best week of 2017
Oil is back down again this week following the year’s biggest rally as investor focus shifted to rising output from the US and OPEC, away from a seasonal increase in American fuel demand.
New North Sea decommissioning firm to create hundreds of jobs
A group of North Sea stalwarts have set up a business which will take the sting out of subsea well decommissioning costs – and create hundreds of jobs.
Apache brings Callater on stream, CNR makes progress with Ninian decommissioning
US oil firm Apache said yesterday that its North Sea Callater project had started producing early and under budget.
‘Magic’ $50 oil boosts drillers’ hopes of challenging shale
The “magic” of $50 oil is now in the sights of deep-sea drillers as they try to lure customer spending from shale wells on land.
Oil’s going, going, gone: Crude’s worth revealed at auctions
Oil producers who for years tracked top OPEC member Saudi Arabia to help set the price of their crude could now be looking to go solo.
How the wild shale race may be harming the Permian’s oil trove
The frantic shale race may be causing some long-term damage to assets in the Permian and other major U.S. oil fields.
Oil near $49 as investors await US crude stockpile data
US oil traded near $49 a barrel as investors await U.S. data following a report inventory unexpectedly expanded last week.
BP output jumps, ‘under performs peers’
BP said yesterday that it had returned to the black in a first half of 2017 marked by production start-up from the Quad 204 project, west of Shetland.
BP back in the black as it posts strong profit
BP notched up second quarter pre-tax profits of £700million, rebounding from a £2.5billion loss a year ago.
Oil rises above $50 as OPEC trims exports, sets meeting on cuts
Oil closed above $50 a barrel in New York for the first time in two months as OPEC reduces shipments to the U.S. and is set to meet with allies.
Oil above $50 as Opec prepares to meet allies on compliance
Oil in New York briefly rose above $50 for the first time since May after OPEC said the group and its partners will meet next week to discuss why some nations are falling behind on their pledge to cut production.
Oil sceptics exit as market dispels gloom to flirt with $50
As pessimism over oil dissipates and investors flirt with $50 a barrel again, short-sellers are getting out of the way.
Oil on course for biggest weekly gain in a month as US glut eases
Oil headed for its biggest weekly gain in a month as sliding U.S. inventories and signs of stronger demand raise speculation a supply glut in the world’s biggest consumer may ease.
Statoil launches production from Byrding field
Statoil has kicked off production from the Byrding oil and gas field in the North Sea.
Oil rally masks risk of Brent sliding to $40 post-Summer
Brent crude could potentially drop to $40 a barrel or below in the first quarter of 2018 without deeper output curbs by OPEC, according to an oil analyst at industry consultant JBC Energy GmbH.