Falling oil prices could drag on Houston’s economy, again
As oil gets cheaper by the day, Houston's economic prospects grow dimmer.
oil
US drilling surge to slow as operators tussle with low prices
The US drilling surge could begin to plateau soon as operators grapple with both falling prices and growing constraints on equipment and labor.
Faroe eyes major growth phase in UK, Norway
Faroe Petroleum said today it was ready for a major growth phase targeting increased production and "consolidation opportunities" offshore UK and Norway.
Oil’s slide stalls as investors weigh stockpiles against Libya
Oil’s slide below $45 a barrel stalled as investors weigh a forecast decline in U.S. crude stockpiles against a revival in output from Libya, which is exempt from the OPEC-led output cuts.
Gloomy summer prompts hedge-fund doubts on gasoline
Hedge-fund pessimism about crude prices is spilling into gasoline markets, even at the time of year when demand is highest.
Oil below $45 as US drillers extend record rig streak
Oil traded below $45 a barrel after a fourth weekly loss on speculation that a record expansion by U.S. drillers will blunt OPEC-led efforts to rebalance an oversupplied market.
Shell’s sale of North Sea assets to Chrysaor gets EU clearance
European officials have approved Shell's sale of a package of UK North Sea assets to Chrysaor.
Forward curve for oil prices looks awful for Opec
As if a mini-collapse in oil prices wasn’t bad enough for OPEC, the pattern in which futures contracts are trading years from now has flipped into the worst possible structure for the exporter group.
Chevron to launch fresh Rosebank FPSO tender
US major Chevron is getting ready to launch a fresh tender for a floating production, storage and offloading (FPSO) vessel for its giant Rosebank project in the UK North Sea.
North Sea efficiency target in sight if industry sticks to the plan, experts say
The UK offshore oil and gas sector will reach its 80% production efficiency target for 2018 if it “just sticks to the plan”, industry experts said yesterday.
Oil set for longest run of weekly losses since 2015
Oil headed for the longest run of weekly losses since August 2015 as U.S. crude stockpiles remain stubbornly high and as Libyan production climbs toward the most in four years.
Scottish oil supply chain going strong despite 7% drop in international sales
Scotland’s oil and gas supply chain suffered a 7% drop in international sales in the 2015/16 financial year, a new report said.
Statoil’s Mariner topsides arrive in Shetland
Platform topside modules for the Mariner oil field, 93 miles east of Shetland, have started arriving off the isles.
Oil man turned to drug dealing after getting sack
A Buckie man who turned to dealing drugs after losing his job offshore has been jailed.
Oil guru who predicted downturn says Opec should have cut deeper
The oil guru who predicted the market rout in 2014 said OPEC and its allies should have gone much further when they extended their supply deal last month.
Opinion: Oil prices are set to rebound
The latest selloff in oil prices have left speculators in a predicament: The fundamentals continue to look poor with unimpressive drawdowns in crude oil stocks, but there is a general consensus that the extension of the OPEC deal should push the market towards a rebalancing over the next few quarters.
Update: Shale drillers digging own hole as oil slips below $45
U.S. shale is coming perilously close to puncturing its own rally.
Oil sector confidence boosts economic outlook for Scotland, report says
Emerging signs that confidence is returning to the oil and gas sector and a resilient labour market have helped ensure Scotland’s economic outlook remains positive, a new report has found.
When OPEC met to extend cuts, output rose most in six months
As OPEC and its partners last month agreed on prolonging production cuts, the group’s output was climbing the most since November as members exempt from the deal restored lost supply.
Output rose most in six months during Opec meeting on extending cuts
As OPEC and its partners last month agreed on prolonging production cuts, the group’s output was climbing the most since November as members exempt from the deal restored lost supply.
Oil edges up above $46 as Saudi Arabia sees supply glut easing
Oil edged up following its plunge last week after Saudi Arabia and Russia said crude markets will rebalance.
America’s stubborn oil supply glut catches funds off guard
Crude markets are taking oil optimists by surprise yet again.
Oil extends gains as Saudis see global supply drop accelerating
Oil extended gains as Saudi Arabia and Russia sought to reassure investors that coordinated production cuts by OPEC and its partners are draining a global glut.
Business as usual for North Sea oil post-election, energy institute director says
An oil industry expert has said it will be “business as usual” for the North Sea oil sector following the general election.
Oil heads for third weekly loss as US to Nigeria prolong glut
Oil headed for a third weekly drop as rising supplies from the U.S. to Nigeria showed that OPEC is still struggling to clear a global oil surplus.